Question-and-Answer Session
Operator
Ladies and gentlemen, at this time we will now be conducting a question-and-answer session. (Operator's Instructions) Thank you. Our first question comes from the line of Chad Curtis (ph), a private investor. Please proceed with your question.
Chad Curtis - Private Investor
Yes. I'm curious in regards to the information or studies on the data of the NM, the antifungal treatment?
Vivian H. Liu
Could you repeat your question, please?
Chad Curtis - Private Investor
In regards to the antifungal treatment, the NM-1060, the studies, analysis, findings, et cetera — due to the fact from the way the market perceived the termination of the agreement with Novartis, they took it kind of badly and in my perception, I thought this was a great opportunity on your behalf to run with the ball since it is your baby. My question is, when do you think you'll be able to release or announce some type of analysis or findings, I mean, due to the fact the drug does work?
Vivian H. Liu
Well, I think Novartis had previously published some top line results from the pivotal. I think it's available on the Novartis website, so that information is out there. I think what is interesting about this product and you kind of have to go beyond just the value of whether you met your endpoints or not. I think if you just kind of look at that one dimension you may be very disappointed because obviously the product did not meet the endpoint, hence Novartis did not proceed with filing. However, based on the various lessons learned and based on the various sub analysis, we see a lot of positives in really justifying the additional investment necessary to move this product forward. So that work is being undertaken right now.
And in addition to some of the work that Novartis did which convinced Novartis that this product is obviously not a dud and it's worth further pursuing, it's just the product opportunity is a little bit small for them at this point in time and it's also no longer in their strategic focus. I don't know if you know that since, I think 2006 or 2007 timeframe, Novartis prescription no longer has a presence in dermatology, so consequently this product is not suited for them and that's why they felt we should go out and sublicense the product.
So to answer your question, it's not really time yet to publish this data and I recognize that everybody's anxious to look at it, but part of the process is dependent also on the work that we are conducting.
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