With its signing agreement on the vaccine, today its stock price still slightly down by 0.005, cannot understand coz thought that it would shoot up high, why?
Only Pharmaniaga and Duopharma get the license from the Government. Trust me in million years Bintai will no be able to join the vaccine if gov not approved.
@eYuppie With its signing agreement on the vaccine, today its stock price still slightly down by 0.005, cannot understand coz thought that it would shoot up high, why?
Because the vaccine is still being developed. No company in the world has successfully created a safe vaccine to be used worldwide. China leads by preempting need for more safety tests. Astrazaneca halted its human trials because of some unexplained side effects but is now back on track.
As to whether who can distribute Covid vaccine in the country, Duopharma and Pharmaniaga are appointed ones. You need to understand if Bintai is working with Generex for what kind of vaccine for Covid. If Bintai is not confident, would the directors be so dumbassed to have signed this agreement? We are not talking playthings - people talk in forums as if they are on the board of directors and in command of due diligence. As if the board of directors dont know that Pharmaniaga and Duppharma's roles in this latest race for vaccine distribution, and knowing they cant distribute as claimed, still go ahead and sign a binding agreement and be liable to pay millions of dollars. It would look dumbassed wouldnt it?
Under the terms of the Addendum, Bintai and Generex will finalize the legal and contractual documentation for the contract, partnership, and licensing & research agreement, and Bintai will pay Generex an up-front licensing fee of $2.5 million within two weeks
Additionally, Bintai will pay 100% of the funding required for the commercial development of the Ii-Key-CoV-2 vaccine including laboratory work, manufacturing, regulatory filings and the clinical development program for regulatory approval of the vaccine in Malaysia
Also, upon approval of the Ii-KeyCoV-2 vaccine in Malaysia, Bintai will pay Generex a $17.5 million milestone payment and Generex will earn royalties on sales of the vaccine equal to $3 per dose on government sales and $4.50 per dose in the private sector.
Generex Biotechnology Corp. files for Nasdaq listing, seeks to raise $33M in public offering
Studies on Generex's potential Covid-19 vaccine have mostly been conducted in China, where the company inked an agreement in February to receive funding and begin testing. The company needs more funding as it researches the technology, especially for possible trials in the U.S. and Canada, according to the SEC filing.
To date, the company is not profitable. It has accumulated a net loss of $440.39 million for shareholders, according to the filing. Generex intends to file an application to have its subsidiary, NuGenerex, also listed on the Nasdaq in the future
Bintai has the right to produce vaccine under Generex license and has the right to distribute to Malaysia and other countries. So what do you expect government to do? Buy imported product or use locally produce vaccine?
@zhm540 Bintai has the right to produce vaccine under Generex license and has the right to distribute to Malaysia and other countries. So what do you expect government to do? Buy imported product or use locally produce vaccine? 22/09/2020 9:05 AM
Correct. They also have first right not to go through with the deal which is why Bintai is also not dumb enough to circumvent any problems. Way I see it, they know what they are doing and must have done some due diligence first before signing.
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bowman
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Posted by bowman > 2020-09-21 16:11 | Report Abuse
@lunalight https://www.theedgemarkets.com/article/bintai-kinden-be-licensee-covid...
this is the first locally verified story. All else are rumours