The Jeweled Toad, page-3

He described his management challenge as being focus – focus on identifying projects of greatest potential and deciding how to extract as much value as possible from the technology, while conserving finite resources and minimising risk.

This must be front and center. It is obvious to me that the company’s past strategy of “go-it-alone derisking” of the opioid project has been a failure. A better strategy would have been to minimize risk by sharing risk with partners. That risk-sharing philosophy at POH was applied in a limited way to peripheral projects, but never to the central, highest risk project, the opioids.

I expect to hear concrete plans for bringing in a partner for this project as soon as it can be achieved. As an aside I discount playez’s downbeat assessment of the likelihood of this happening. I think it is certainly can be done and I think it must be done, and the sooner the better. At this point the only viable alternatives are the M&A route or another cash raising bringing terrible dilution to existing shareholders.