Re: CTIX partnering strategy. I could only find one reference, on a slide from a presentation from last year:
>>Partnering Strategy
• Retain rights to lead products in development
• Seek relationships with qualified partners, and Joint Ventures / licensing agreements
• Out-license select pre-clinical products<<
They spend a lot more time discussing the pipe. I don't think they have a business development officer, per se, and the CEO doesn't look that experienced in that area. So look for a lot of secondaries.
The P2b trial is interesting, because the 2a data analysis suggests a lower dose can be used with comparable efficacy and reduced AEs. In fact, there is an arm with only a single dose in it. This also has positive implications for patient compliance. One caveat from the P2a trial is that it was conducted in Russia and Ukraine (they didn't say where the P2B is taking, but perhaps that will be revealed as the record at clinicaltrials.gov gets updated; it would not shock me if they go that route again). Dr. Jorgenson, the PYMX CMO, is on board, and, in fact, does many of the presentations. He's neither great nor terrible at that. Gets his points across, but lacks a Toastmaster polish.
Given their financial strategy, the trading strategy should be to based on capital needs leading to stock offerings. In other words, buy after a raise mushes the stock price, consider paring back in front of data if there has been an anticipatory run, and definitely watch cash balance versus burn rate to anticipate the next raise.
Cheers, Tuck |
