IMHO I remain incredibly optimistic about Replidyne’s (NASDAQ: RDYN), a leader in next-generation anti-infective products, direction (note: this in no why should be interpreted as investment advice). After being dealt a bum deal by the FDA re: a change in protocol for antibiotic trials, management at Replidyne has retrenched. With $90.3M in cash on the books as-of 31 December 2007 and a quarterly burn of approximately $18M it is full steam ahead with the Faropenem asset as Phase III enrollment continues for treatment of acute exacerbation of chronic bronchitis and preparation for three additional Phase III trials is likewise underway, one for treatment of acute bacterial sinusitis and two for treatment of community acquired pneumonia.
The search continues for a partner on the Faropenem asset and when and if one is identified and announced I would have to venture to guess that there will be a significant step up in value from today’s ~$53M market cap, which by the way indicates that the entity is trading below the sum of its parts.
Finally, great progress is being made in the pipeline with an expected IND filing this year for REP3123 in the Clostridium difficile program, and there is too an expectation for the identification of an IND candidate in the DNA replication inhibition program as an additional 2008 milestone.
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