Proteome Sciences. AGM Statement.

the_doctor

I hope your optimistic interpretation is correct. I think the reason I feel somewhat disenchanted at present is that I have recently been re-reading the key announcements over the last 18 months. In almost every one they talk about progress being made on the science (together with lots of interested parties) with the view that commercialisation is just round the corner - but which corner. No company of significance has signed up to anything yet.

2005 was to be the year of commercialisation. If any of the directors assessed an employee's performance on the basis of such statements vs results they would have been out of the door long since. Yes big pharma does supposedly move at a geological pace, but it is now 9 months since the HOA. The word is that the deal is getting bigger and bigger so is taking longer and longer, but using this logic it will either never get signed or it will probably collapse like a house of cards if someone pulls out.

I admit that while I understand more of the science thanks to some excellent posts (richard's post for the layman among them) I don't understand the developments in the overall market sufficiently well to see whether other companies are gaining an advantage by being able to tie up deals quicker (although I assume patent protection will to an extent keep them out of PRM's areas) or whether there may be an alternative technology which comes along and allows big pharma to sidestep Proteome before they are fully committed to their particular IP.

You notice the time slippage much more if you go back over the announcements for the last 18 months, and wonder what reliance you can place on any of the comments from the company.

Happy New Year to everyone - hopefully 2006 will be PRM's year.