LS said this:
"We’re very encouraged by the cross-section of partners or potential partners that we’ve seen come forward. And we’re confident we will have a partner to commercialize the product and if things go well, hopefully by the end of this year or the first quarter we’ll be able to announce a partnership."
He also said more potential partners have come forward since the CHMP acceptance. Also stated that the UK was currently the most promising area in europe for K usage. This statement tipped his hand I think.
all good stuff.
Sentiment: Strong Buy
Overall not a very exciting call.
They are in discussions with several potential worldwide partners, but they may not have anything to announce on that until the first quarter of next year... possibly sooner, but they seemed to want to lower expectations for something imminent.
They still believe the patients are there. I found it interesting that Lou Ferrari said "Even if the patient population is half of the 120,000 (from the study), that is still more than enough..." or something like that. I don't think he means to be backing away from the study, but it could be taken that way. I think he is trying to say that even if the study is not exactly right there is still a relatively large patient population out there to reach. I agree with him, but I am not sure his answer was the best. They also have trouble explaining why their penetration is still so low. Basically, they say we weren't prepared at first and it takes time. I think that is correct as well, but I also believe they are just not well equipped to penetrate this challenging market effectively.
I hope they will go ahead and sell the company. Will be interesting to see the stock trade between now and then.