BTX 1801 trial early Q2 2020, page-22

Many of us like your enthusiasm but can I take you to task about your comment regarding a share price of 40 to 50c based on phase 3 acne hype.
What hype? There is no hype only stunning results from Australia and mediocre results from America. We know this works provided it is made in a proper manner. But we do not know what the FDA will say about going to phase 3. Once again, it will be a simple binary outcome. Management are confident but the market tells you what it thinks of that. If FDA approves a phase 3 for acne, which is what all this company was ever about years ago, then by definition phase 2 is a success.
AD is dead and dusted as we all know.

What of the antibacterial platform? Comments made by laboratory staff seem to have zero value too, or at least the market thinks. This is the cold hard reality today. How does this change? An American approval as a new antibiotic is a start. Value now, zero. Value in six weeks. Who knows?

You mention based on every technical and fundamental factor you see a grand run home. If you are in Australia your next six months will mostly be at home anyway.

Thankfully we have plenty of cash but some of those smiley faces in management really need to be assessed.
I guess this is my most caustic note over the years but there are significant shorter term milestones to be worked on.