Well, not a good call...Done in September if they can't raise more funds.. They will not be issuing more shares at under 30 cents a share, and they will have a hard time finding someone to partner with unless they can show a large market for the product indication to make it worth another company's effort. This is not good...The best most probably would be to sell the company. I would be happy with 50 cents a share these days. Porked by Merck, Sold out the approved products.. So much potential shot to #$%$. How a company with a pipeline and getting products to market could be in this position is amazing. Probably still Kumar's fault. Buy, sell, or hold...who knows, but we will find out over the next few months.
They have a good chance to partner with Valeant or Allergan. New drugs for cataract are leading edge right now as population for such surgery grows. They met primary end points for NDA. Drug is worth $150 million if approved. Market cap is 25 million. Blep drug is just a #$%$ shoot but no other treatment available. Lid scrubs are useless. FDA needs to approve this. I am a user of Azasite and it works for me. Azasite Plus if approved for Blep is $200 million drug. FDA is just nuts not to approve as no side effects and possible help. Write FDA in support. I think they will partner next and stock will pop.
I would like to think so. I just could not imagine that they would say they are out of money and closing the doors and the products are done, especially being so close to registration and making progress in the clinic. It just blows me away that this company had so much potential and products getting through approval, and here they are in the situation they are in. Oh well...hopefully they will be purchased at a price to salvage something for the shareholders.
They'll be purchased before June for 40-50 cents per share. not worries there. They have products and those products sell, they just can't manage their way out of a wet paper bag. Someone will come in and take this company to the place it needs to be.