BTC's PDF status "very valuable"

In his first AGM address as BTC chair, an upbeat Dr Richard Treagus said this:

"The Company is a registered Pooled Development Fund.

"This status is potentially very valuable to its shareholders.

"We see no immediate risk to the Pooled Development Fund status.

"It will remain a key priority for us to continue to do all within our powers to ensure the company remains compliant."

My research tells me that PDFs are subject to tax rates of 15% and that there are just 27 registered.

Of these, Acrux is the only one listed in the biotech space.

That company's MC is a lofty $167m.

Ours is a lowly $7.3m.