I talked to Victor Libet, NTII's investor relations rep, last week.
He said they have retained a consultant to advise them in partnership
discussions. At the annual meeting (I didn't go), Jeff Price mentioned they have had serious discussions regarding partnering for CRF, to the point of discussing terms. The discussions are pending the outcome of the Phase 2 Trial for arthritis.
I asked about whether the leaving of Michael Ostrach would affect
partnership discussions, since he was the only one of top management
with a legal background. Victor said they hated to see him go, he
was a player in the biotech field, but seemed to think their consultant was good. I didn't get the name of the consultant.
I asked a question about capitalization and what were the possibilities of another public offering. Victor said that partnerships are their preferred method of raising funds,
not another public offering. Of course that is not written
in stone.
I have received the annual report, have not gone through it with a
fine tooth comb, but did notice a sentence to the effect, they are considering follow on Phase 2 Trials for Dynorphin A - it wasn't clear
if they were for chronic or acute pain. I was a little disappointed
to read this, I was hoping (probably unrealistically) that they would
jump directly into Phase 3 after the published Phase 2 results. Those
trials only dealt with 30 patients, half of whom received placebos.
It is good to see the announcement regarding the commencement of
Phase 2 clinicals for Memantine, Victor mentioned they (at NTII) were disappointed with ACTG for taking so long to get going (The announcement had not been made at the time of our discussion.)
Sorry for rambling.
Disclaimer - I own NTII stock.
jump directly into Phase 3 after the published results from the |
