Guess the sale of equity in Incuron is the last ditch effort. It's Entolimod or bust. FDA EUA or bust. Cleveland knows they're going to get slaughtered on the equity raise to increase stockholders equity from a pathetic $1.8m to the paltry requirement of $2/5m. They knew that they were quickly running out of $$$ to pay for mgt's lifestyles. The sale of an balance sheet asset will drive the equity raise price down even further.
Without the (will not come) miracle of a EUA, this stock will be $2.25 - 2.50 at very best within months. Probably much lower. What outfit will get involved with these clowns based on their operating history? At lease w/out some of the most onerous terms known to mankind?
LOL. So fund and purchase product from a Russian-run company in response..............Don't you get it yet?
I wonder what it would mean to CBLI if the poster presentation was NOT accepted for this event that CBLI seemingly goes to every year. Also - would they have issued a PR announcing that ASCO had rejected the Study Results poster presentation? Again, too too much lol.
Just a 7:30am news release bragging about the completion of a phase 1 trial in the Russian Federation which will take forever to result in anything. You'll probably see the price go down accordingly when it is realized that it's only vapor.
So CBLI/Incuron was awarded a patent for the composition of matter for CBLI 0137. It provides protection through 2030.
Does anyone think CBLI will be in existence in 2030?
snowboard - I did some checking to refresh my memory on Barda's purchase of Neupogen from Amgen. Ths occurred just before Amgen's patent on Neutrogen was to expire on 12/31/13, opening up competition from generics.
If the FDA and DOD think along the same philosophical lines as Barda, CBLI is in big trouble. Barda (and I believe) the FDA are big on re-purposing existing drugs. IMO that is the laziest route and totally pathetic. They figure large companies like Amgen will be able to meet volume and storage requirements simply due to their massive size. Think about it. Barda/FDA are charged with overseeing and funding an ARS drug. So instead of furthering the ability of smaller companies who are working solely (or primarily) on ARS, they choose to RE-PURPOSE an existing drug created for another reason. A blockbuster expiring patent drug involving a big player (Amgen) who is about to face generic competition.
This kinda #$%$ just symbolizes how gov't agencies perceive their mission and go about (accomplishing) it. The route requiring the least effort by utilizing and funding the entrenched.
BTW, the tool head of Barda was on 60 Minutes last Sunday. I only caught the last part but the segment was done as Barda is halfway through the time frame to accomplish its mission . The interviewer went down a list of things and areas asking the guy about the agency's progress. To summarize his responses = they haven't gotten anywhere on anything. The douche was exposed as a total nothing.