I attended today's stockholders meeting, which was webcast. As ever, Kumar came across as a very straight shooter. He said that he had expected to have very good news to announce at the stockholders meeting, but that it was going to take a few more days to consummate a pending deal that will infuse the company with some more money. At the moment, the company is running on fumes. No details were provided, of course. Kumar said that that the form of the agreement had been completely agreed upon, but that it was not yet ready for signature yet. I got the impression (I'm not sure from where) that the deal is more in the nature of a new deal with Bausch & Lomb concerning ISV 401 and/or ISV 403, and not just another VC interim financing. I was led to believe that the deal, when announced, would please stockholders and give us new hope for the long-term survival of the company. We'll have to wait and see. Kumar told us that he did not expect us to have to wait long at all.
Separately, Kumar mentioned that negotiations with one or more potential partners for moving ISV-205 into Phase III trials are ongoing, but we weren't given the impression that consummation of such a deal was imminent.
Marc |
