Annual report, page-10

I agree Chris, the SP is being managed at this level. It has been for the five months post consolidation (perhaps there is a clue in that). I am in no doubt that it is being managed (propped) UP. Of late, at least, there is no way it is being accumulated. The buy side is as weak as it could get. Yesterday only 18 buyers on the ASX screen for a handful of shares, and that for a company that has the potential to do a significant deal that will progress its Trofinetide to Phase 3 and possibly much, much more beyond. This is unreal!

I think the disjunct between (real) buyers and the managed SP level is due to the news hiatus. Virtually no interest for out of the loop buyers to enter at this level. The SP managers have it to themselves. I guess the more interesting question is - why is this happening - is it positive or negative for holders? One could conjure up a multitude of reasons. On balance I consider it represents a positive. My reasoning goes like this - could be way off the mark though.

The consolidation was done for a particular entity with whom Neuren are expecting (hoping) to to be taken over by/do a partnership deal with/secure funding from. Whatever the form of this transaction it warrants total confidentiality until settled (if indeed it comes to fruition) and announced. At the outset it was realized that this process would be rather lengthy, as many dependent conditions would have to be satisfied along the way. Thus, it was agreed that 'the entity' would see that the SP was maintained around the $3 level, if necessary, during the period of negotiation. And, unsurprisingly, necessary it has been.

Them's my thoughts. Any others?