Ann: Notice of Investor Call and Presentation, page-136

my money is on a single eu trial. with us down the track a little (as they will still need to consult further at the very least). my guess is that if they announce that the share price might dip (but not by much since they would then literally be at cash backing). the problem is we are in a bit of no mans land between phase 2 and phase 3 and without imminent news flow I wouldn't necessarily expect the price to do much (because for better or worse a lot of people out there have very short investment time frames). for me I have a solid position and want more but waiting for some to free up elsewhere so will wait until the strategic review is done and see where we end up. at least after the review the market will feel some more certainty but it's not until some results are within twelve months that we may see a significant rerate.. of course unless they come up with something else in the mean time that people like.

don't get me wrong I am not down talking the company I intend to have it as one of my large positions (and it's already mid). I do agree it's undervalued and so now is a great time to buy as long as you're patient enough in case it goes sideways or dips further...