COVID19 - competitive landscape, page-353

"The markers achieved in the 009 clinical phase 2 human trials were better than the company could have anticipated…….Obviously!!!"

We all want to see this next trial finally facilitate commercialization but I'm not sure the above statement aligns with the observable facts with regard to either the BIT225-009 trial or the subsequent actions of the BOD.

Firstly the company openly suggested that they expected a deal to commercialize BIT225 at the conclusion of the 009 trail. Not only has no "deal" been forthcoming in the subsequent 5 years, most of the BOD started selling stock shortly after the results of the 009 trial were released. If the results were beyond expectations as you are suggesting, why do you think that the majority of the BOD quickly offloaded millions of dollars in BIT stock whilst shareholders sat waiting for an announcement of the touted "commercialisation negotiations" in late 2018?

Secondly the company excluded the results from a third of the participants in that trial. Do you think that they chose not to report on these because they were too good or do you believe there is another reason that these simply got wiped from the trial reporting?

Thirdly, the baseline VL data upon which some of the reported conclusions were based were vastly different between the BIT225 and control groups. Let me ask you, if all trial participants completed the trial with undetectable viral loads (both control and BIT225 dosed groups) but one group started the trial with more viral load than the other group, would you conclude that one group did better than the other or would you conclude that there is no reasonable comparison because there is no way to determine if the results would be the same had the starting viral load been the same in both groups?

I'm curious as to your views on these questions. Maybe you read the late 2018 announcements differently to me and could shed some light on these issues. Just wondering, on what basis do you state "the 009 clinical phase 2 human trials were better than the company could have anticipated"?

PS. In no way do the shortcomings of the previous trial preclude something great coming out of the 010 or 011 trials in my opinion and it would be very disappointing if there is a repeat of any of the above this time around.