Cash Flow Report, page-9

For those less risk adverse - or more conservative as investors...

Buy now, and when you have doubled your money - sell half to have a free carry.

If you look at Biotech shares doing these sort of trials - even aside from Sirtex, they have a predictable price course. Note the market capitalisation of Sirtex c.f OSL...

Look back at shares heading in to trials - Metabolic is the classic example - (I sold out before release of results as risk of the result was so great c.f the benefit) - but in this case the likelihood of a positive result is far more likely - as the treatment (radiotherapy) is known to work. The issue is a change in the delivery mechanism, so lesser risk.

There will be some announcements on the trial along the way - including
1) first patients recruited,
2) new centres added overseas
3) and most importantly a preliminary analysis of the first 30 patients when they have been followed for 6 months

1) and 2) should be before 3) which will be anticipated - so there will be an exit point if you want to get a free carry.