Nothing is certain until it is announced publicly, but as I understand it, the licensing deals with the Chinese Pharmaceutical company (one for Cardio-Pet and one for BF-PET) will be finalized within the next 10 days and announced immediately. Up front cash of approximately $1 million should be out of China by mid May and in our bank account. The original press release stated within six months.
I will be very interested in the terms of these licensing deals beyond the upfront cash. That is the part that will create real value.
It appears that one or more investors have lost their patience and sold some or all of their investment just days before previously announced partnership deals come to fruition. That is always sad to see. Then again, taxes are due on Monday.
Thom Tulip is doing a great job digging out of the hole Thijs Spoor dug for us. Minor delays have occurred but they are on our side of the Pacific Ocean and will be resolved soon enough. As I understand it, the next phase 2b trial on CardioPet will involve the top 5 US hospitals and will be completed in late 2016. This trial will be designed to validate the annual revenue potential in multiple patient categories. As mentioned on the conference call, the CardioPet imaging agent is believed to have several billion dollars of annual revenue potential. It may take three or four years to get it commercialized, but the discounted present value is well above the current market cap. BFPet is the same story.
2016 should be an exciting year for FluoroPharma and it is about time!!