Question-and-Answer Session
Operator
(Operator's instruction) Your first question comes from the line of Joe Pantginis - Merriman Curhan Ford.
Joseph Pantginis - Merriman Curhan Ford
Congratulations on the progress and looking for the timely fixing of the going concern here. Couple of quick questions in 052; first, is it because of just some of the financial concerns right now that the study has been pushed out from basically Q2 to Q3 in just managing your resources and the second question is, based on the guidance that we just got on the Phase II study, what would be probably the primary endpoint of that study?
Steven Engle
On the first one if I could and thanks, Joe for the question. On the Phase II start, it really comes down to exactly what you said which is we think it is still possible that on the upside, we can start it midyear as we originally had said. Probably, we are trying to leave some room open around the issue of controlling cost and so as we go along the next month or two, we will give you a better idea of where we are on that but it is really being conditioned on what is going on with the cost control situation. Alan?
Alan Solinger
I forgot, your question had to do with..?
Joseph Pantginis - Merriman Curhan Ford
More of the Phase II primary endpoints.
Alan Solinger
Yes, the primary endpoint will be the six-month hemoglobin A1c change from baseline. So, it is a fairly standard endpoint used in Type II diabetes trials.
Joseph Pantginis - Merriman Curhan Ford
Sure, okay and then the secondary endpoint with the inflammatory markers.
Alan Solinger
Correct, and additional diabetes markers and obviously, we will be looking at safety very closely.
Operator
Your next question comes from the line of Jeff Nelson - Ladenburg Thalmann & Co.
Jeff Nelson - Ladenburg Thalmann & Co.
I was wondering, I have a couple of quick questions for you. First of all, what data will you be expecting to be presenting at this June American Diabetes Association Meeting? I am just wondering if the timing, if you are going to have that multi-dose subcutaneous out around then or if you think it is just going to be the Phase I in the first part of the subcutaneous.
And then my second question is under the Azimuth deal, can you give us a sense of how many shares have been tendered so far in 2009 under recent deal and whether or not you are kind of thinking of that as you backstop if the balance sheet weakens prior to getting a deal done on 052 this year? Is that where you are going to go back to in order to keep cash coming in?
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