Was anybody able to find the CC that just supposedly took place? http://finance.yahoo.com/news/pSivida-Corp-Hold-Monday-bw-834531504.html?x=0&l=1
I can't find it on the company site or on the links they provided. I wonder what was said.
I don't know that PSDV was that in the dark. Everone saw the previous CRL. The FDA decision, just after asking for a Physician implantation trial seemed very odd. I still wonder about PSDVs value as, unlike ALIM, it has other revenue.
The blame does seem to be thrown at ALIM. Peculiar that PSDV allowed themselves to be left in the dark to the extent that they appeared to have been left in the dark, though. Unless ALIM was deceptive.
I would have thought that the company would be worth more than the market is now giving it credit for. I had anticipated this sort of a drop on the news, followed by a moderate recovery into the 2s given the pipeline (even for Illuvien in different indications). I suppose this might happen if the FDA meeting adds some clarity to how specific the CLR is meant to be. If it doesn't affect the other Illuvien indications, then that would be good news. Limited good news, though, since ALIM is still the partner on Illuvien (right?) and they are screwed. If Illuvien is totally off the table, then serious growth rests on Duraset (big news involving Pfizer is at least 18 months away as I understand it), and Biosilicon applications (WAY in the future).
That's not nothing, but it's more risk on a shallower pipeline. Interesting times.
I agree with you John, PSDV was kept in the dark. Bad partner choice. Even if we got the EU approval I doubt that ALIM have the resources and the experience to lunch the product in EU. They will need an EU partner.
All the blame seems to be with Alimera. PSDV had no say in anything, nor were they made aware of any impending issues with FDA. Not a position I would have wanted to be in. Certainly was not what I wanted to hear either. I will be making up my mind soon though. Take a tax loss or keep on holding.