Therefore, in order to answer fully your question, we do not need any money to support and develop our lead product at this point. There is no need, or plan for additional dilution. Moving forward, if we succeed in the approval and launch of Pulmaquin, our royalty rates with Grifols are 12.5% for annual sales of up to 300 million, and then 20% for annual sales in excess of $300 million. Grifols last projections were that annual sales of around $300 million could be reached in the third full year of sales of Pulmaquin which would mean an annual royalty of around $35 million. So, investors should consider these facts as well as the risks involved in the remaining product development and sales projections.

As to trials and progress, we expect to start our Phase 3 clinical trials in the first half of 2014. It will take about a year to enroll for our phase three program for non-cystic fibrosis bronchiectasis, and it will be a significant milestone when we reach full enrollment.

kennyw schreef:Ik denk dat ik mijn aandelen ga verkopen, heb 35% winst... of toch nog even wachten?