$15m cap raise Fresh Equities at 24c, page-323

I am thinking the small end of the biotech market is somewhere a lot of the above posters should stay away from. The amount of hard done by posts, by mostly the same names, shows a huge lack of understanding of where ANP was, where it is now, and more inportantly, where it will be in the mid term.

This CR is a company maker CR. Without it ANP, even with it previous good results, was worthless. With funding organised the way it is, the fast track trial is funded to completion. By pricing the unlisted option at 48c, dilution has been minimised.

I am glad they are going alone. This keeps 100% of the value in the hands of the share holder. ANP will get 100% of sales revenue worldwide, and this is protected with ODDs in both Europe and the USA. This produces a much larger and longer income stream than some Royalty payment.

Yes a license agreement may have produced greater value over the short term. But the pathway taken builds a stronger revenue flow over the long term. The CR is the defining moment for ANP. A ballsy step, but if the trial result replicate what have been done before, it will be a step that pays handsomely to the shareholder

Targeting DMD, a desease with an unmet need, allows access to fast track approval. So far, there is no competetive drug that performs as well as our drug does. Why would you want to hand this position away to other companies that are floundering in the same space?

With fast track approval, revenue flows at an earlier timeframe than normal drug developement. Other indications can then be persued dilution free.

From some little biotechs big things grow. . ANP would seem to be one of these few.