Hi there,
Don't have much thoughts on the company outside of the fact that it was trading at crazy valuations for a stock that only made a few hundred K last year. Right now, the company is awaiting a decision by the FDA on its drug (Voclosporin" for people who suffer from lupus nephiritis (LN). The decision is excepted to come this Friday and to date, there has been only one other FDA-approved drug that treats LN - Benlysta from GlaxoSimthKline. The CEO believes it has an 80% chance of received FDA approval.
The company has manufacturing deals in play, has raised considerable amount of cash and hired folks in the efforts to sell and distribute the drug in the U.S. It has patent protection on this drug until 2027 which could be extended until 2037. So it all comes down to Friday's decision. Should it receive approval, it's share price will likely react quite favorably. If it doesn't - it is likely to crater.
Also worth nothing, it will compete against GlaxoSmithKline, a much larger and established pharmaceutical. Pricing isn't set, and the company will then be judged on how quickly it can lock in sales and to what extent it can capture market share. I'd expect this company to be very volatile over the next little while.
Mat