Ann: $15m Placement Completed-Including US Cornerstone Investor, page-14

Phase 2 trails ARE fully funded. This huge investment is going to fund cognitive decline in diabetes (1 billion/yr market) and most likely going to test accurately how xanamem inhibits 11 beta hsd1. Note that phase one studies proved that it breaks the blood brain barrier in sufficient concentrations to (theoretically) inhibit 11 beta hsd1. It was very difficult to accurately test this up until recently.

So, based on what I have seen today, we have a safe drug, which has proved its efficacy to the point that a recommendatiin has been made to start a phase 2 trial for diabetes which is funded, not to mention is most likely not far away from commencing based on the fact it has already been delayed. Edinburgh university as far as i know are conducting this study, and were most likely waiting on funding and proof of safety which they now have.

I dont understand why the share price is so low but its probably the best outcome for the LT holders, time to load up on something that has just been majorly derisked.