$37 million more for the Multikine PhIII; $100 million needed before data!
From CVM's last 10Q: "The Company estimates the total cash cost of the Phase III trial, with the exception of the parts that will be paid by its licensees, Teva Pharmaceuticals and Orient Europharma, to be approximately $37 million going forward. This is in addition to approximately $7.9 million which has been paid as of March 31, 2013."
Let's see, CVM has roughly $3 million on hand, spends about $4 million per quarter, and must raise another $27 million (assuming the CRO indeed kicks in $10 million worth of services) to pay for the Multikine PhIII. Give CVM two years to fully enroll (which will never happen given that CVM achieved only 13% enrollment in the first two and a half years that the trial was ongoing!) and then three years to wait results equals 5 more years of spend at $16 million per year, or $80 million, plus $27 million for the Multikine farce, or a grand total of $107 million more in spending before the fools who own this POS can hope to see data!
And let's see, that equates to 500 million more shares at the current price! And you guys wonder why Geert pressed so hard to have the authorized share count raised to 800 million (which won't even be enough since there are 309 million shares outstanding now!).
No need to be so mean.
You actually sound like you have realistic numbers and you make some good points if your numbers are accurate.
I looked at the last earnings report and they wrote "R&D expenses for the quarter ended March 31, 2013 totaled $2,515,585".
To arrive at your $4,000,000 quarterly amount, are you just adding estimated operating expenses including salaries to the R & D?
When you estimate they are nearly out of money?
If so when do you think there will be a new round of financing?
How much will they raise?
What do you estimate they will price the shares at?
What makes you think they won't be able to speed up the enrollment with the new CRO ?
Go to sec.gov, search on "CVM" and go through the company's 10Qs and its 10Ks.
And if you want to know how much CVM actually spends on the Multikine trial per quarter, look at the 'Management's Discussion' section of the 10Qs, from which I pasted the trial expenditure comments, and compare them quarter to quarter.
My guess is that the June quarter will show even less than a $300K expenditure on the trial.
$300,000 per quarter means few to no new patients are being enrolled, and $37 million divided by $300 thousand is 123, which is the number of quarters needed to reach $37 million, which equates to more than 30 years!
That's why I call this Multikine trial a farce -- it'll never finish! Meanwhile, con man Geert will pretend it's moving forward so he can continue to sell shares to slimy funds such as Cranshire via pump and dump routines -- abetted by the likes of Dirks and Garza -- and pay himself handsomely for ripping off the ignorant!
The total cash expenditures in the March 2013 quarter were $4.165 million, comprising $2.5 million in R&D, $1.65 million in G&A, and $90K in depreciation which I added back in. If you go back through CVM's 10Qs, you'll see that baseline spending averages about $4 million per quarter. and that total spending in the March quarter on the Multikine trial was minimal (around $300K if you compare the Dec 10Q which states that CVM had spent a total of $7.6 million as of December 31 2012 with the March 31 2013 statement that CVM had spent $7.9 million ).
The total cash balance as of March 31 2013 was $6.99 million.
And the cost of the Multikine trial keeps going up:
December 31, 2012 10Q: "The Company estimates the total cost of the Phase III trial, with the exception of the parts that will be paid by its licensees, Teva Pharmaceuticals and Orient Europharma, to be approximately $32,000,000 of which approximately $7,600,000 has been paid as of December 31, 2012."
March 31, 2013: "The Company estimates the total cash cost of the Phase III trial, with the exception of the parts that will be paid by its licensees, Teva Pharmaceuticals and Orient Europharma, to be approximately $37 million going forward. This is in addition to approximately $7.9 million which has been paid as of March 31, 2013."
Is that your usual response to hard data, speaking like a child? What a moron. Basically, what mortonthom is saying is the reality that this trial will never end before the company has to sell it all for pennies to a major phama, if they even want it. In the meantime the huge salary being paid to the guy on a respirator will go to Gert if he paases, Gert will continue to ATM larger salariy to himself, then the company will fall, and the only one walking and laughing all the way to the bank will be Gert.