Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-37

I was reading about some ASX listed companies undertaking Phase 3 trials (and I do stress PH3 trials) but there are some factors that can be compared to BIT's Ph2 trials that can explain where BIT is at the moment.

Trial failures (or maybe ones with limited or negligible success) can really impact where a company goes. Unfortunately, BIT pegged everything on its phase 2 trials and did so with no other options or funding to do anything else. In my view, the BOD were too optimistic about the impact of the results and left themselves with a completely empty larder when the results were finally released. I do suspect that they witheld results because they did know they effectively failed.

We can all recall when the SP was 10 cents and asking why they did not just run a CR then up to the max and get all the funding they would require.

Anyway, pulled out a segment of the article which is of interest.

Phase III trials aim to confirm the safety and effectiveness of groundbreaking treatments, bringing hope for new therapies to tackle often challenging medical conditions with limited therapeutic options available.

It’s a pivotal moment for listed companies, which have often spent millions of dollars in the clinical development of their treatments.

Success – and anticipated success – can drive share prices higher, while failure often causes sharp declines.

For many ASX biotechs, the outcome can make or break their future, highlighting the high-stakes nature of this critical stage.