Chim's CEO had the following comments on their pox program:
"Yeah. So let’s start at the end and let’s give a blunt answer which is in our IPO and everything we talk about we consider the relationship with the government BARDA to be purely incremental and purely an upside. A non-quantifiable upside and I think that true for everything with the government. It’s the sovereign right of the United States government to cancel any contracts at any moment.
Okay, so let’s now start with that, that being said smallpox is a category, a bio-terror threat we have been the company was actually founded as a bio-defense company and then I joined about 4.5 years ago we morphed it more towards the commercial aspects of CMX001 but we received now we have got $65 million or over $60 million from the U.S. government both through NIAID and BARDA for the development of CMX001 it’s paid for lot of our development work.
They paid for our compassionate use program, the study 350 this year we’re focusing on certain and the models the development of CMX001 requires that is working two animal models, we are looking at a mouse model and a rabbit model that work will continue because it’s the government I can’t promise you a specific timeline there are lot of different pressures and BARDA is funded and isn’t funded there is no purchase contract associated with it at the end of the day. So we look at it as incremental help in the development efforts for CMX001 but that’s really the way from an investor perspective I would break it at this point in time."
HOW is this getting thumbs UP?!? Sounds to me like he is saying BARDA isn't reliable and iffy. I read NOTHING in that where it mentioned they didn't feel they had a viable smallpox drug or one that could potentially be purchased by BARDA. You people REALLY know how to read in between lines that don't even exist. It is the craziest thing I've ever witnessed.
What's more important are the facts he did not comment about,NWJ?
How much of that $60-65M went to lobbyists & politicians as "contributions" from mgmt, employees and/or the company to obtain the taxpayer money grants?
Why no mention that CMX001 did not meet BARDA RFP NHP( monkeys) rqmts, that all the monkeys died & die when treated with CMX001 after being iinfected with smallpox?
And that monkeys live in fear & dread about CMX treatment?
No mention of BARDA & CMRX vulnerability to Continuing Resolution constraints?
Mumbo jumbo & gobbledegook R he,NWJ?
P.S. Congrats to those who covered with gains,esp those with 5-8 points of gains, yesterday after the pump & PR orchestrated buying.
Many still holding some or all when karma prevails?