2020 Annual Meeting

Listed below are some of the questions and answers covered at the AGM. Overall, I was satisfied with the presentation. Communication from the board is improving, and this is much appreciated. I also think the new CEO and board are on the right track by focussing on Europe--where we have immediate business potential--rather than the continuous flow technology, which seems months or even years off. The next price bump may come after management meets with the FDA on 21 January 2021. The overall outlook is positive.

PENTHROX

Why has the clinical package Penthox IND submission for the FDA been delayed each year (now another 18 months)? Have the FDA been changing the goalposts? How do know that there will not be further delays?
Lodged Nov, meeting 12 Jan 2021. No guarantees. Will create larger moat. Asking for more and more information.FDA works on evidence not experience, so more rework required. Very optimistic.

What’s holding up the Germany, Italy, and Spain launches? (I thought Italy had already launched.) When are the launches expected?
Italy has launched. Germany pivotal. Determinespricing. Lot to be done to get pricing model right. Hopefully near. Spain moredifficult, to follow after Germany. Disappointed with Mundipharma, Penthrox was not theirpriority.

Has the new Penthrox Inhaler Selfie been launched yet? If not, when? If so, when will it replace the current inhaler models used in different markets?
Not a replacement. Current still used in certainchannels. Launch by end of 2021.

When will shareholders be able to listen to Roadshow presentations to larger investors rather than being left to interpret the jargon-rich PowerPoint Roadshow presentations?
Considering.

CONTINUOUS FLOW

Citing a MDI source, Phillips Capital reported a possible CF licensing deal for CY2020. What news?
No deal. People getting ahead of selves. Some timeoff. Not commercial scale up size. Looking at API candidates. Looking at key API’slocally. Looking at local strategic manufacturing. Confident in CF process.

How did the big drug manufacturers respond to MDI’s continuous flow technology pitch at the Germany trade show held early 2020?
Extremely positive. “Bit of magic.” Interestingbreadth of interest from different fields of manufacture. Having conversations.

The latest roadshow says that you are having engineering problems in stage four of lidocaine production. What problems? When do you expect to overcome them?
Not problems but challenges. Blockage.Aggressiveness of API’s. Need different material to build reactors. One ofCSIRO top seven projects. Confident we can solve them.

American drug Manufacturers have been given US government assistance to develop continuous flow technology covering drugs including those that MDI is targeting. How mature is our technology compared to theirs? How much of a commercial threat do they pose to MDI’s CF projects?
Don’t believe they pose threat because of ourprogress and moat. See more opportunities instead of threat. Globalmanufacturing footprint changing.