figtree know the aussie market well, page-5

bello - i like PRR because it is growing very fast and is on a low PE multiple.

Last time it traded at $4.00. . . around the time of the Cephalon deal. . . . it would not have appealed to me because it was unprofitable and I would not have been confident that it would ever get there.

But at least I would not have feared that it had to undetake trials that were way beyond its financial capacity as the product was already registered and in the market.

I doubt whether PRR can pull the funding together to get all trials completed. It is just too big an ask.

If it can, I am very confident that even if it has the occasional price spike along the way, there will be plenty of opportunities to buy below 10 cents during the course of the next 7 years.

It is going to be a very long slog, and the relentless dilution below 8 cents that today's raising represents guarantees it.