I think we're all getting a bit muddled here. Did PBT have a working product? No, speculation from 20cents to over $1 was based on the hope that it would have an impact in Alzheimers and become a blockbuster. Prana have no other candidate drugs on the cusp and their business model is hugely expensive and slow to produce results. Failed trial = devestated SP, a pattern seen time and again in the drug discovery/development sector and statistically likely to happen. Outcome is that Prana is now very high risk again and unless the extension trial turns up a surprise they'll need capital from the market again.
Contrast ADO, a proven working product, already at the point of commercialisation with a HoT with the major POC player and heavy paid involvement with another global entity (we're now being paid to get into the market not spending millions on trials). First point of difference is that ADO's chance of failure is much, much lower, although not zero as sometimes big companies do stupid things. Second point of difference is that if the current big deals that we know about fall through, ADO can cruise on for quite a while waiting for the next one which will also not need the expense or trials that drug discovery companies face, all the time revenue from their own products/services will ramp up.
I agree that the SP has risen rapidly on speculation about BBI/Philips but if they're the only reason people are invested they don't understand the company. It's logical to say that if BBI/Philips come to nought the SP will dive, but for the reasons I've outlined it won't dive as far or stay suppressed for as long as with PBT, and the risk of those deals failing is IMHO very low in comparison.
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