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Well shares of primary top -- -- -- 50% for the IPO which was just over two months ago the Biotech company has broken new ground on oral treatments for HIV patients and is also working on new treatments for hepatitis C.
Influenza and malaria it's quite a list joining us now is by American presidents and CEO Ken -- and can thank you so much for being here it's great to -- we were just noting -- -- -- stock actually just -- -- -- -- thanks -- pretty holding well in a very difficult.
Environment she went public in -- April crusaders have a couple of months ago it's been pretty good going to -- it has indeed we use the jobs act to -- -- a lot -- investors prior to the IPO that.
Proved to be a very successful stressed that allows you to make kind of make your pitch long before her.
And that's really made a different and we talked to dozens of investors over the months before the IPO something that wasn't possible before the jobs act -- and they were many of those investors participated in the -- -- how much money did you raised a 117 million dollars and where does that money go so we're using that to find the phase three clinical trial for our lead compound CN XL wind which were developing as a broad spectrum anti viral.
-- -- what -- called double stranded DNA viruses which affect people who perceive bone marrow stem cell transplants content these viruses grow up.
After you've gotten this Bob biological oil change and our drug is designed to stop that viral progression.
IPO is opposed to emanate why.
It's all about value creation we look very closely a number of opportunities for us the ability to progress with CM XO one ourselves as very important.
Based on our conversations with investors we knew there was an appetite and interest in the company that's reflected in our our current standing with the investment community.
And we have a clinical team which is phenomenal so we felt we could put those facets together to develop this drug ourselves and that's what we're -- with CM -- one.
They say that the fortunes of many Biotech companies right on the success of the products that they test so therefore can be risky investment what would you say.
It's a tremendously.
Complex and risky scenario there are.
Major failures in this business there -- major successes these lifesaving medicines are hard to develop it takes.
Decades 1015 years hundreds of millions of dollars if not billions of dollars so it's not a it's not an easy game that's like talking to people -- really educating them so important.
Should also mention the Supreme Court taking on this.
A case involving generic drugs -- -- take on that basically east.
It's a deal would stop between the original -- -- cat and the generic makers to basically keep it off the market is that correct -- that's that's something it's at the far end of the life cycle for companies like kind -- yet focused area near term on protecting -- IP.
That things that you're talking about a really something at the other end the cycle really not something we're focused on today a case that doesn't affect you -- -- entire -- not -- -- do you go from here what's the next big.
Landmark fuel company well for us we're starting our phase three critical clinical trial next quarter.
That's going to be in hundreds of patients who have received these bone marrow stem cell transplants.
The idea is to prevent these viruses which can.
-- lead to horrible problems outcomes or death.
Prevent those viruses from reactivating the patients.
They'll take about two years to run that trial will know the -- in 2015 but in the interim a lot of other things will happen because we have this this drug which we think is a broad spectrum drug.
Against many different.
Viruses and that's what we're trying what we wish you wish you know a lot of success with that and congratulations on going public thanks so much for the opportunity to talk about -- works -- -- --
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