Reason why its flying. From another thread11 Oct 2019 11:10
I went to Proactive Investor last night. Markku (in Q&A) said that is possible that Clevegen could be available in the market as soon as 2023. I think it was said in the context of Colorectal cancer, where patients have failed all other lines of treatment, which would allow a significantly shorter approval process. I asked him about the reason for calling the EGM so soon after the recent placing, and what was referred to in the Notice, section B, "events after preparation ...". Traumakine manufacturing is the reason. At the EGM, they are seeking authority to issue 7.8m shares, and removing authority from 7.1m. Markku seemed to think it normal company practice. I have not read all the small print, but suspect that the rules governing how they can issue those shares is changed. Or more importantly, to whom. Markku is still very excited about Clevegen in his presentation. If I had to hazard a guess (Markku did not say or hint), I would say that a partner has been lined up for Clevegen. As a minimum they will take a significant stake in Faron (up to 20%) and probably pay for some/all of the Clevegen program in isolation or in combination with their own drugs. The conversations with the FDA/Traumakine/cortico steroids are quite advanced. The FDA have taken the Faron assessment of the use of CS and their effects very seriously. I got the impression that a statement was imminent. Anyway, the cash from (possible) placing might be enough to test Traumakine with CS.