While Dr. Kelly is very bright in his own regard, he lacked the necessary business accumen to move the Novogen platform forward in a practical and realistic manner. His resignation paves the way for industry professionals with more business savvy to come in and optimize the ongoing development process.
The company is in a great position and has plenty of financial resources to move the three initial oncology candidates into phase 1 and potentially phase 2 trials (depending on cash burn). I expect various collaborations with big pharma as well as large government grants to be received over the next few years.
Overall, a more shrewd management team is going to be in place to steer the ship more effectively and I expect the market will react positively to tonight's release. From a raw valuation standpoint, Novogen's platform in its entirely is worth only about $16.5 million after cash. This is extremely low given the enormous potential. I look forward to the months ahead.