Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Dan Stall – Private Investor
Dan Stall – Private Investor
I just wondered if you could address the investors who were at a cost basis of $18.00 a share looking at the stock trading today at $3.35 a share, what can we expect to see over the next couple of years or regain the money we put in back when it was a private placement?
Hoji Alimi
Actually we do have four members on our Board that they are also at the same cost basis and when we talk about building value for our shareholders we have to build the company for success. And that success can turn into value for our shareholders not only getting you your cost basis but we are hoping to exceed that. And in order to do that is we need to fire at all cylinders. Last year when we went public and as you said, you are on a cost basis of $18.00 and we went up at $8.00 there were two major I would say [inaudible]. One literally there were, we had people saying in the market that there is no way that these guys can execute on Phase II trial and there is no way their product is going to beat levofloxacin. That was a huge risk to the company and to our investors. We had to focus on that. We had to execute. We did overcome that and we came out actually very good. So the Phase II is done, the data is out and then the second thing was we needed to make sure that we control our spending outside the US and we did that as Robert mentioned so I don’t want to sound redundant.
But moving forward in order to increase value for our shareholders and again the value is going to be determined by numerous factors in the market that I don’t think anyone can predict and just to give you an example, we were at $11.00 a share last year without Phase II, without breaking even, without a lot of things that we have today and today with a very strong Phase II, we beat levofloxacin one of the greatest antibiotics in the market and all these trials that we have under our belt and we opened up China, we are trading at $3.00 and something. So there are things that can control the value of the company that is out of our control and there are things that we can control. Things that we can control I think we have to, is very important for management and The Board to focus on not only getting our NDA through the FDA and make sure that we are on track on the drug approval but candidly in the eyes of a lot of investors, they’re going to say okay great, long-term story, you’re not going to generate the revenue, what are you going to deliver in the near-term?
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