Ann: AGM Presentation by James Bonnar CEO, page-9

James didnt slip up, he said $9.9m at close of prior quarter and subsequently topped up by $1.3m via R&D. And confirmed they are in a strong position to complete the P1 studies. In other words should be sufficient to complete the P1 studies and initial design of P2/3 (they will raise on back of good news from P1, which should be at better prices). Unless they can monetise or a partner in place, dont expect retail investors to get a look in the raise. IF you want to top up you will need to do on market... Ultimately the redesign of the P1 for PCSK9 is all about faster progression to P3 and negotiations with funding sources.

As James said in the note, they are fielding many enquiries from analysts and Insto investors.. What does this mean really??? time will tell, i expect they (analysts and new instos) will likely be waiting for pre trial toxicology studies to clear, and subsequent confirmation of P1 commencing (as a minimum) before taking a next step (i.e. research note or invest on market)....I will likely double down on confirmation of pre trial toxicology as this will support P1 commencing (I expect that I will be paying circa 20c at that point as another risk is eliminated).... . Instos might even wait until first readouts from P1 re safety (i.e. singe dose), but I am not sure how the will release data, I am just assuming they will release single dose results to mkt as it become available and if positive, also confirm that the 14 day dosing will commence... I expect a mid trial rerate to circa 30c once the 14 day dosing is confirmed and commenced... as the likelihood of efficacy is very high.. Safety is key to the rerate here... This is definitely hotting up one way or the other....