Stop lying Bic.
you know full well they have a deal for financing in place with Aspire which allows them to sell up to $18 million in shares at APRI's choice of timing without warrants.
They could easily take on $20 million in debt to finance the pipeline and sell only 5 million shares to Aspire adding another $10 million of which they can use $2 million to service the debt the next 2 years while Vitaros revenue continues to grow and while they may also get partner money from both RayVa and Femprox.
If you are counting on financing to bring it down to cover you are out of luck.
Somebody has inside news on Femprox or RayVa.
They obviously have screwed up the study. They should have finished it early in Q1 and had top line results to us in Q2 at the latest. It should not take a GD year to run a 45 patient hand cream study.
Let me translate for new people. Hi I'm Bicster, I'm normally wrong and if you do the opposite of what I say you will make money. I really am mad at the world. Please help me cover my short. Thanks. Oh and I'm only trying to help you.
Femprox as a drug candidate is still risky, but the market is now defined and that's a big plus. I could easily see a global partnership for it. A year or more back, Pascoe told investors they expected to partner Femprox but after negotiating with potential partners Pascoe came away saying APRI could get it done but not at a price they liked. Pascoe felt it would be better to throw the dice and wait out the FDA to see if they gave Sprout approval which was no sure thing.
So, I have to believe whatever partners were originally intersected in Femprox would be far more interested now and it's likely additional interest by others will be there too.
Any partner will have the burden of substantial phase 3 costs that could fail but the risk reward is now much more favorable. The risk before was you could go thru and hit the clinical end points and the FDA could still say no. That now seems impossible.
I would not be surprised to see a deal structured like our deal for Fispemifene. X upfront in cash. X in cash milestone upon approval, and a ongoing royalty on all sales.
For Fispemifene we paid $12 million upfront and owe $45 million on approval, and a low double digit royalty. That was for the U.S. Only.
I think Femprox will be partnered very fast.
Somebody will want to license it. You can take it to the bank. Phase 3 ready asset with trial guidance already in hand from the FDA? It's value just jumped.
You are such a short shill Bic. Detached from reality.
It was Pascoe that brought on Nel Morton. It was Pascoe that attracted Alex Denner to invest. It was Pascoe that closed a unbelievable deal with Aspire. It was Pascoe that secured the in license of Fispemifene. It was Pascoe that actually got Vitaros launched. It was Pascoe that strengthened the board.
I think they will get a partner but we will have to wait to see what type of terms they get.
These guys are really bad at retail investor communication. In conjunction to this PR this morning they should have had the website updated with Femprox information along with links to studies.
I give you an F for being incomplete.
They have more than a few more options for cash.
1. They had $12.5 million on hand only a week into July.
2. Vitaros is ramping and the revenue stream can be leveraged to support debt. Currently APRI has $10 million in debt. For a biotech with both RayVa and Fispemifene on the edge of completing the phase 2s and both being in phase 3 before mid 2016 that's very little debt.
3. They can tap Aspire for $18 million in any amount they want without warrants. So they could always take $3 or $4 million of that which would provide earmarked funds to again support debt deep into 2016.
4. They could get some out license money on RayVa from Europe if the phase 2b results are good providing even more leverage.
Lots of options. And with RPRX getting their NDA review Nov 3 I think Denner and APRI are content to wait out the clock before doing anything much. If the review Nov 3 is favorable then APRI will finally after decades of hopelessness be holding a winning hand.