JULY IS HERE !!!, page-18

I think pharmaceutical companies are watching very closely, and are very interested, but they will want to see Phase 2 results first, for several reasons.

1) How well does ATH434 work (and that includes not at all, which is unlikely given the DMC has thrice recommended the trial continue). Phase 2 results will show this.

2) More BioMuse data.

3) ATH434 Phase 3 trial design

4) FDA feedback, on all 3 points above

Afterall, they don't want to back a dud. But I do concede they may be tripping over themselves to get on board as we speak.

On the subject of consolidation. I hate it, and i hope not. But i am expecting it at some point in time, but again, i hope not. My personal preference is for the company to become profitable and return ~50% NPAT to shareholders via both a on-market share buyback (absolutely) and dividends (depending upon the size of the NPAT).