Why let facts get in the way of a good story. If posting truths is "bashing" excuse me.
Won't need $15M to up list onto NASDAQ could do it with $4M. Orphan drug - first name some relevant leukemia disorders with prevalence under 200,000 patients. Secondly market exclusivity is granted by FDA but the drug needs to be approved before patent expiration. Once again lets not let facts get in the way of reality.
If you see my past posts I think the Northwestern drug is the only decent asset owned and could be the basis for development. Have until February to raise the requisite $3M under the license agreement. You are actually only wrong on patent expiration which is in 2029 not 2028 pursuant to the USPTO.
ha-irinotecan has FAILED A CLINICAL STUDY!!!!!!!! Data is junk. Alchemia has a market cap of $11M AUD and according to their press release Panther was required to file and have an S-1 effective during the first 30 day exclusivity period from the July 1, 2015 announcement (which has not occured) so they don't get the additional 90 day period. There is a cash break-up fee Panther must pay of $500K and Panther is required to pay expenses for ongoing work. I would presume that has been accrued or will be disclosed in the 10-K due today at least as a subsequent event. Panther has disclosed nothing related to the agreement and has not filed an 8-K I would consider that material information. Panther said that alchemia spent $70M so once again you are wrong. may want to read up on their patents as well, I have.
What street likes the portfolio???????? Wall Street???????? When then why a non-standard funding from a Chicago fund not focused on biotechnology? Which bankers?
Craig Jordan is at the University of Colorado and hasn't published on tdzd-8 since 2007. Need more shareholders and more cash to get uplisted to NASDAQ! What does okay mean? Where is 8K and financing documents? Where is 10-K that is due today. What exactly is compensation package - how do you know he is working for equity? $220K doesn't support 30 days of activity for a real bio-technology company with patents, ind enabling work, regulatory consultants, etc.
Heron, prior to the Tang investment the company had a $120M accumulated deficit and $20M in cash. This company has $120K accumulated deficit and no cash. They had an active portfolio of technologies and they had people to work on them. This is much different. None of these technologies work together and by the looks of it they have no one to work on them. Did you read their 10-K or the 10-Q's???????? The only thing that seems to be happening here is they company is getting edgar filings done for others??????
These senseless acquisitions of failed technologies (see Alchemia's words below) are only further de-valuing the Northwestern Technology. Company is going to start a Phase III, Phase II and Phase I study in 2015 yet they have no money???? Good luck to anyone who is truly here as an Investor but time for me to check out!
From Alchemia six-month report (their words not mine):
"This increase in expenditure was primarily due to impairment losses of $12.7 million being recognised
for the HyACT intellectual property assets and associated goodwill in the current reporting period"
"As indicated to the market on 27 October 2014, the Company’s pivotal Phase III clinical trial of HA-Irinotecan in
metastatic colorectal cancer (mCRC) failed to reach its primary endpoint of statistically significant improvement in
Progression Free Survival (PFS) and also did not meet its secondary endpoint of an improvement in overall-survival
(OS). Rather the results for the FOLF(HA)IRI arm were virtually identical to those of the control arm. "
I will first state that I believe that the Numonafide compound is a good one - I like Topoisomerase inhibitors and like the published work out of Northwestern. That not withstanding this compound has been in some standard assays and a few animal models.
Why let facts get in the way of a good pump. Antisoma, the developer of Quinamed raised a total of $170M dollars, not all of which was spent on Quinamed - Where do you get $400M? The ACCEDE Phase III trial FAILED!!!!!! Numonafide has a US Patent only.
TRF-DOX - Faulk published treatments back in the late 80's and early 90's. How could Pharma companies be so stupid to just let this gem sit there on the shelf! Last I saw funds raised around it was in the early 2000's. PATENTS??????
Craig Jordan hasn't published on TDZD-8 since 2007 and is no longer at Rochester. His research has moved forward and no one has followed up on the research in eight years - WHY?????
Please respond coherently with facts - getting tired of this silly board!
The most possible shares that cold be in the float is 1,169,881. Because of the enormous volatility I would not think all these shares are in the float. To up list need 300 shareholders $4M in shareholder equity and the value of trad-able securities of $15M. Not close to any of these.
I have thoroughly researched numonafide and its pre-cursor amonafide. Closely associated with its development. Amonafide was short changed by the lack of pharmacology data and numonafide is a better drug. Think it has a ton of potential with it and it will attract significant interest from large pharma with some decent Phase II data That is quite some time and many millions of dollars away. That said, this is the only reason I am here!
Faulk technology has been around for quite some time and many other people have been trying to finance it with no success! Other than one published paper on the other technology from 2007 there is nothing on the Rochester technology.
From the Form 10-K: As of May 31, 2015, there were approximately 41 stockholders of record and an aggregate of 4,662,500 shares of our common stock were issued and outstanding. Of these common shares, 2,166,468 are restricted shares held by our officers and directors and 2,496,032 common shares are issued in registered form to approximately 30 unrelated investors, including 1,326,151 shares subject to various lock-up agreements. The transfer agent of our company's common stock is Signature Stock Transfer Inc. at 2632 Coachlight Court, Plano, TX 75093.
It would be great if people posted substantive comments on the Company and its prospects!
I am certain Evan understands the listing requirements but the question is how practical is obtaining a listing and what is the pre-money valuation on the necessary fund raise. In the 8K from May when the company was taken over there were six officers and directors controlling 60% of the stock.
Stranger things have happened in bio-tech so you never know!
When Evan took over ANX didn't they have $20M in the bank and a cumulative net spend (i.e. Negative Retained Earnings) of ~$60M. M = millions. This company has $88K and a net spend of $100K. Who is going to pay up to that valuation for no net investment?
The lowest NASDAQ standard is $4M in Stockholder equity, requires 300 shareholders and market value of publicly held shares (o/s shares - officer, directors and 10% or greater sh's) to be $15M. Financials say we don't meet shareholder equity so we need to raise minimally that. NU agreement requires us to raise more.
I believe the Northwestern Drug has enormous potential with the right guidance and development, which I believe is in place!
I have a thousand shares and am happy to hold it because of that drug! It was difficult to accumulate as I had to be in 100 share lots. Hope upon a financing I don't get diluted.