Had been definately overdue for an update & now paints a better perspective of results. Points on pages 14 & 15 state how 'interactions have intensified' plus mentions the Nova Nordisk option etc.
Have noticed a few misleading comments obviously posted by people who are new to CBIO & only invested in it since listing & not followed it like we have for 10 years.
Whoever said 'why would anyone put all their Super into this' all I can say is that you should have been at the Dec 2005 meeting to understand why. SJ announced they had about 15+ Global Pharmas circling them all interested in XTOLL & believed they would be selling the company for $2 Billion in the next few months! With only 30 million shares on issue that equated to $66 per share so when they invited everyone to invest in their 'last' capital raising at $3 share to finish the trials off you'd probably have grabbed money from anywhere you could to invest too. Have a look at their website under 'Investor Releases', scroll down to Dec 2005 'Letter to Shareholders' open the PDF file & read last paragraph Page 5 to see that teaser. http://www.cbio.com.au/investors/releases.htm
Anyway, as with most Biotecs, trials take more time than expected but they also had a hiccup with a batch running out & needed to restart trials over & needed more money to finance these but Resources stocks were running hot so was difficult to obtain. So, here we are now, though I did expect price to be 25c or at worst 20c but not 18c but I feel sure CBZ will run upwards again when October comes as the next update is due & Nova might be looking to act.
Here's hoping that CBIOs future is cemented in the next few months! Am trying to sound like I have lots of patience but also hope the other patients find relief!
CBZ Price at posting:
21.9¢ Sentiment: LT Buy Disclosure: Held
