Ann: AGM Presentation, page-9

I found a lot of that quite interesting.

They are cagey about stating that a P3 trial is the next stage. In fact, it seems to me that they are hinting that the next stage will actually will be a P2b. Note the wording and form your own opinion.

Any next gen HIV compound will have to go through P1 and beyond. A long long haul ahead there. Same with HBV.

So, my (initial) take is a P2B for 225; hopefully with a collaboration, and based in the US.

And, the new compound/s will keep them busy for years to come.

Doubtful that we will hear substantial news on any of this for quite a few months.