knowing risk and why it is mitigated, page-7

For anyone wishing to read a very comprehensive analysis of Prima Biomed, the Southern Cross Equities did produce a very positive and informative analyst report back in May 2010 (Share price was $0.14). It gave PRR a 12 months target base price of $0.60 with the opportunistic case of $1.12. All these figures were based on CVac alone and assumed no value to HPV Vaccine and Cripto-1 Antibody or the 7% interest in Trillium Therapeutics. It also assume that trials were fully funded using convertible notes to Springtree i.e. fully diluted of 1.081b shares. Note: Based on the latest appendix 3B we currently have 768.5m listed shares and 105.3m listed options.

In the report it lists out a number of reasons to invest in PRR. I will just highlight a few point from the report.
i. Performed well in IIa results
ii. CVac able to be applied to other forms of cancer, beside Ovarian.
iii. Ovarian cancer worth $2-3b annually and will possibly replace chemotherapy and become standard of care.
iv. Emphasized the strong management in place.

However, what I like about the report was the layman's term used in describing the CVac Phase IIa trial results. 4 of the 21 late staged ovarian patient registered a positive response. This 19% response rate is phenomenon as all the patient have previously failed other therapies such that based on the SCE report anything above 10% is remarkable. In addition nearly half the patient gained some form of benefit and the response was long ranging from 27-44 weeks. And let's no forget the most important issue is safety. No safety issue was measured. Showing its is superiority to chemo and radio.

I highly recommend people to read the report to gain a better understanding of what the company is trying to accomplish in the near future.