The update to the SGI-110 trial is in. Interesting the Ph1 trial was to be completed by 9/12 the Ph2 date of completion is set for 3/13. 6 Months later, they are allowing for original pts to continue on in this trial.
I find it interesting how quiet management has been recently. No road shows to speak of and nothing on the upcoming agenda from what I see. Hmmmm.....wonder if something is up or are they just waiting to talk about the Q2 results late this month and then talk about the 4 Ph 2 readouts in Q4? Oops, we have the EMEA decision also. That is a Q3 event last time they spoke of it.
I believe this means that if ASTX decides to partner this drug, that they have to first offer it to Eisai. Eisai would have 3-6 months to decide an a deal or pass on it.
It would be nice to see astx actually get a drug under their full control. This is maybe why they hint about the credit line they have? What would a deal look like today on this compound? They could asked for more upfront and take less on the royalities. Something like $500M (just a number) with milestones and a 15%+ royality?
Could they get this drug approved on their own? This would be the best case for investors. If sgi-110 is the real deal and gained a good chunk of the market, $500M in sales, this would maybe have a solid $1.50 EPS, at a PE of 15(conservative), we're looking at $20+ a share. We can dream.
As long as SGI-110 performs, Dr. M is in the driver seat. The thing he does real well, is these kind of deals. Look at Nipent. With Dacogen they were cash poor, they got a softer deal, than what could be expected today.
The way ASTX shows it on the their slides to investors and shareholders is that Eisai has the "right to first offer". Assume that means that they get the right to bid first if ASTX is taking bids on SGI-110's rights.