Hi texasbbq,
It certainly is PhIII human trials. They are due for completion (supposedly) by end of Q3,2011. EMS HC threads have discussed previously that this target is probably a bit ambitious given some technical issues arising from the trial in Africa so realistically it's probably closer to Q4.
The next hurdle will be registration of the technology for marketing. Given that the active ingredient is already registered (and being used globally) the registration will be more aimed at the sublingual drug delivery platform which I suspect will be easier than a new drug compound.
Finally, a trade sale of the manufacturing and distribution rights to a global malaria pharma is required and our CEO is running the trade sale question in parallel at the moment and as you say is heavily supported by some large O&G Co's.
I certainly agree with your sentiment about bio-specs and keeping the market informed to shareholder satisfaction - it's the nature of the beast particularly when confidentiality issues are at hand.
A couple of good reads from EMS include the July 2011 shareholder update and also the 'risk' section from the recent 'priority entitlement prospectus'
bluebush
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