bfw, I sure hope the BPs are sniffing around.

Initially I reviewed the presentation deck and didn't really understand anything. So I just listened to the presentation and I did get a positive impression from Don;

1. Zen3694 does seem to extend the length to recurrance of mCRPC on it's own after patients were taken off of enzalutimide and abiraterone (if I understand Don correclty).
2. The drug also seems to extend recurrance (and treatment length) when in combo with enzalutimide and/or abiraterone.
3. The mCRPC market for enzalutimide and abiraterone is about $5 billion (at least it was on 1 slide).
4. zen3694 seems to be working in a manner consistent their underlying hypothesis re BET inhibition. i.e. solid framework for development.
5. PK properties seem good.
6. BET inhibitors applicable to many cancers. It's probably a very competitive field.
7. The principal investigators (slide 13) are highly qualified to oversee these trials (and ??? may provide credibility to the trial findings).

So it looks like a very promising set of developments. 

However;

1. It is still in the very early stages of the trials. Don did say that cancer trials move quickly (I think he meant in reference to cardio trials).
2. The sample sizes are very small. Perhaps this is characteristic of cancer trials but seems difficult to get a picture of how this would impact a patient population (as opposed to anecdotal examples).
3. On the business side if ZCC remains a private company and, for example, if they sell a compound such as zen3694 to a BP it is my understanding that the money and/or royalties will flow to ZCC. As a shareholder there is no guarantee that ZCC will ever share distributions of income to shareholders. The responsible action on a corporate level may be for ZCC to retain the cash and eventual potential royalties from RVX for ongoing development and acquisition purposes. My guess is that if apabetalone is successful and taken to market that royalties will not begin to flow to ZCC until somewhere beyond 2022 if BoM ends in 2019.

I had hoped to realize some liquidity in my Zenith shares by now but Zenith is just at the very beginning of it's journey. The one hope might be is if ZCC uses SanFran's Star Factory approach and does IPOs on various ZenEpi compounds such as zen3694 then shareholders could sell shares on the stock market. ZCC would not benefit from this from what I can see so I don't think it will happen. I must be totally misunderstanding this issue.

Based on Don's track record in the 9 years I've been a shareholder he is not one bit focused on creating shareholder value for either company. All of the value has been built by Dr Wong and the science team and Don has failed to demonstrate this remarkable value to investors. And, I'm not convinced at all that Don has the requisit skills to handle negotiations with BP.

I come away from this presentation with a "warm and fuzzy" feeling but not reassured at all about the future.

So, as a funny aside, I noticed that at the end of the presentation only one person clapped! I sure hope that was not the entire audience.

As always, I've become very skeptical and would love for Don to prove me wrong.

GLTA

Toinv