RE: Tomorrow5 Jun 2023 07:08
No buy and build. Risk very low and low costs for a biotech. All clinical trials are outsourced.
Only 9 million market cap for CLX, 201, 301, lab and Barcelona and Hokkaido outcome due this month.
During 2022 it became clear that initiating the tCRO® through a buy-and-build strategy was going to be a significant challenge as the valuations of suitable acquisition candidates for a core laboratory facility, on which to build the tCRO®, were excessive and unlikely to create sufficient shareholder value. With Stella's guidance and Suzy's CRO expertise, the previous buy-and-build approach has been modified to focus on establishing our own core laboratory, incorporating the necessary technologies to support ValiRx's in-house pipeline and attract 3rd party business. We believe this will enable ValiRx to build the tCRO® with lower risk and lower cost, leading to more efficient use of capital.