With protracted litigation over the ownership of NOX66 no longer a threat, it is timely to look at the patent position for NOX66.
RBx my father has been a solicitor for six decades and company partner for much of that time. Solicitor's fees can attract the ire of many people. But the one thing I can remember him saying on these matters was that individuals and companies make money from him if they listen to his advice. The flip side of that was that he cashed in when they didn't.
Everyone should know how lengthy legal wrangling and negotiation can be. Then of course, decisions may be subject to appeal and the energy, time and commitment required can be exhaustive to say the least. It can take years.
I really don't have to know all the details of the most recent announcement to suggest that the Noxopharm management has made a pretty shrewd decision to settle whatever was the bone of contention swiftly - and seemingly at a minimal cost to boot.
A bit of forward thinking on the part of management probably revealed that payment of any kind to Novogen/Kazia in fact could have amounted to something much less than the potential legal costs that might otherwise have loomed ahead.
There are enough pitfalls along the R & D pathway without having to add these kinds of diversions and obstacles. A capital raise to cover legal expenses could have been on the cards - not a good endorsement for investment.
Management have clearly made the smart play and will no doubt make money from this decision. Their reputation has been enhanced in my opinion.
As shareholders we have to keep our eye on the prize - we already have had a taste in 2017. The end result is that we are the true owners of NOX 66 and the LIPROSE technology and we will continue to reap the rewards of our investment.
NOX Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
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