Keep the faith it will come!!12 Jul 2023 19:37
IQ-AI is an ideas incubator, a creative collaboration of dedicated medical scientists, clinicians, and software developers who are originating solutions and tools which are having a growing impact on the treatment and management of one of the most intractable cancers.
The key drivers are all shareholders, who have had to become accustomed to the vagaries of the stock market and how it values the Company`s shares. Oftentimes the market capitalization of the Company has changed over a small number of trading days by 10-25% without any discernable reason, however we remain firmly focused on the medium-term commercial prospects for our unique products and are confident that shareholder patience will be eventually rewarded. We will not deviate from our central aim of achieving commercial and medical success.
It is five years since IQ-AI acquired Imaging Biometrics. Throughout that time the IB team have worked continuously and intensively to innovate and develop what has now become a valuable portfolio of medical IP. We believe that the cumulative accretion of value during this time is not adequately reflected in the current market valuation of the Company, and we are now considering how best to address this anomaly.
The phase I clinical trial for oral gallium maltolate ("GaM") continues to track ahead of schedule. Orphan Drug Designation status has been granted to Imagining Biometrics ("IB") by the FDA. This designation offers several significant advantages to the Company including seven years market exclusivity post market approval, and reduced FDA fees
The Company submitted its second Orphan Drug Designation request to the FDA for treating pediatric brain tumors with GaM. A decision is expected by early Q3. Motivation for this request was generated from two landmark pre-clinical studies completed by Dr. Mona Al-Gizawiy, PhD in the laboratory of Dr. Kathleen Schmainda, PhD at MCW. These studies demonstrated similar remarkable results of GaM in atypical teratoid/rhabdoid tumor (ATRT) and GBM in children as it did in the pre-clinical study for adult GBM. Current treatment protocols for pediatric brain tumors subject children to the same toxic, invasive, and harsh treatment protocols used to treat adult brain tumors.
The Company recognizes the interest and willingness of the FDA and the National Institutes of Health ("NIH") to help companies accelerate the delivery of promising new treatments to these patients and intends to form a close working relationship with the agencies in the coming months.