Fouremms report was an excellent summary of what transpired at the AGM. It was a good meeting with attendance on par with recent years despite the very cold weather. My buddy and me were 25 minutes late due to traffic
I will add a few comments from my notes and recollections. Most of the good info came from the Q & A. I atarted it off with asking where BetonMace stood. As reported many times the target is for 2400 patients. Don said they are about a third of the way to full enrollment - so around 800 patients. I asked if they know when there is a Mace event. He said yes but it is confidential. I was a little surprised at that because I thought they would be blinded to events.
The question was asked about a Nasdaq listing. Don said it would not happen in 2017 and not something they were pursuing. He said it was too costly, could take a long time and he was not sure it could even get them the attention they need. He said he felt their present approach presenting at high profile biotech events was making headway and when results from BETonMACE come in they will have all the attention they need.
I asked the question about the $ 120MM tax credits they have. He said it is actually up to $ 250MM now and that would be of great value particularly for USA BP repatriating profits residing in foreign countries. There was some further discussion around that subject and Don felt it would spur more investments in bioteh companies by BP. Pfizer alone has $ 68B sitting overseas
Later after the Q & A I asked Don about succession plans. He said that is in place.
I asked if the "failure" of Assure to meet target has left a black mark on RVX as perceived by BP. He proceeded to go on a little bit about how difficult it was to deal with them and admitted that he was not dealing with the guys at the very top. He said they want to see top notch data from Phase 3 before striking.
He mentioned that Aztra Seneca was not attending the big Biotech conference coming up and said "maybe somebody is buying them"
I agree with Fouremm that Don seemed relaxed, confident and optimistic. The billion dollars of revenue in 2021 seems a stretch to me but I got my fingers crossed.
Torpedoman
