Management may be waiting for data on Seliciclib before entering into a partnership agreement for Sapacitabine. If the data looked good, the agreement for Sapacitabine could include the sale of a minority interest in CYCC. The partner should then be willing to pay much, much more cash for Sapacitabine and the shares. Or the agreement could cover the development of Seliciclib to some extent without including the sale of shares. Anyway you slice it, the potential upside for CYCC is incredible!
Dai-ichii which sold Sapacitabine to CYCC, still holds the right of First Refusal for Sapacitabine in Japan for all indications.
CYCC could monetize this asset since it has come upto PH 3 level. A 50-100 MLN payout from Dai-Ichi will do the trick at this juncture. On top of Dai-Ichi can go further for world wide rights for a bigger amount and CYCC can have the rights for Europe and Americas.
In fact Cyclacel paid over 50 MLN $$ + for this compound to Dai-ichi! Read the AR 2010 to find out the exact payments!