Well, it seems that Trofex as a diagnostic will be partnered, and Trofex as a therapeutic will be developed by MIPI alone. The latter will be started quickly, if the financing can be obtained. This likely explains the S-3.

It's interesting that Peters recently indicated that the focus of MIPI will be oncology, yet the two biggest (potentially blockbuster) candidates in their pipeline are diagnostics. In addition, they recently mentioned some research on diagnostic imaging of tumor metabolism which sends the mind spinning with the possibilities.

Onalta is being farmed out, in Europe anyway, so it's Azedra, Solazed and Trofex. Given their resources, it seems wise to focus on Trofex rather than Onalta, since Trofex represents a much greater potential payoff. It's an impressive lineup.

It'll be interesting to hear Peters speak tomorrow. MIPI is in a new phase now and should be making some noise rather soon.