BGC - THE COMPLETE STORY !!!!

granite

...punters Tealeaf Assessment not mine. Patience? I recall BTG announcing an FDA letter saying that the drug Oxy/wotsit, licensed to Forest was approvable and estimated appoval end 2003. Actually approved end 2004.

Vs....following the hold a partner was 'expected' to sign by full year '05. later trials were to resume by end '05 depending...now early '06 depending....

There's no depending that P will be initiating trials themselves, they will be.

Apart from delayed launch and probable loss of the EU, Provensis may have a problem with Vs in that it's not clear if the FDA will ban other non-trialled foams (that are still in use) even if Vs is approved. How do you convince a partner about something that's not in your own hands?

Partners can wait for better terms, Provensis need to push ahead, hence trials resumption by P.

I think the correct thing to do is wait and see what the deal terms are when they come as there may be (not saying there is) too much hope attached too soon. With (apparently) break even not now this year there's a distinct possibility the sp will weaken as/if punters lose faith. There's also no way that BTG can achieve previous Vs value guesstimates now it's licensed out and delayed, especially if other foams are not banned.

New management have so far rightly cut costs and re-positioned, but that's all.