We know know the IND's in place, and GNVC received $2 million for reaching this point. The next step is dosing the first patient, it's hard to say if the milestone will be larger for that, or if this partnership is largely loaded toward big increases as efficacy's shown. We also know the company is now also set up to issue up to $10 million in new shares ATM. With current or higher prices anticipated in the future, I don't see this as being terribly dilutive at this point. No one likes dilution of any kind, but the truth is, it keeps things going and perhaps will lead to the next great product.
Novartis, once they determined to go forward have wasted little time. The said the IND would be submitted in January, from the date of the milestone, they didn't wait long at all, and the FDA accepted the IND as submitted. Now let's see how quickly this shows up on ClinicalTrials.gov, and when we get the indication of first patient dosed. While I'd guess these things would occur by this Summer, if Novartis is really pushing, it could come sooner.
Gary |
