I've reached out to Michelle again with some questions.
Hi Michelle,
Reading through the Half Yearly Report the terminology around "Release of headline results is expected in coming weeks" which has been stated since September 2023. Though that outcome stated, there appear to be a number of key milestones that would need to be achieved which have no visible or tangible completion dates, those being:
- Completion of clinical trial data by the external Contract Research Organisations. I can appreciate this is somewhat out of Biotrons control as stated, though I would expect that the Directors can request (demand) a forecast completion date which can then be communicated to the shareholder community.
- Once the data is received, Biotron has stated the following actions will be taken - "the trial database will be locked, the data unblinded and statistical analyses of the data can be completed.". This I would expect can have milestones stated based on a forecast completion from the CROs, along with the experience and knowledge of the post-clinical trial analysis tasks within the Biotron leadership team and biotech industry standards, even if it's just Results + x Months = Milestone y. Again this level of forecast schedule information would be well received by the Biotron shareholder community.
- In the last quarterly update the operational cash available was unsustainable to operate for another quarter though the R&D rebate has at least given a little buffer for funding operations. Though that said, I would expect the ongoing delays will be costing Biotron and without forecast dates from points 1 and 2 it seems that Biotron will either be unfunded to continue operations or require a capital raise before May/June, yet the December quarterly indicated neither of these will be needed. This is concerning and it would be good if Biotron provided a path to solve this question.
Thanks for your time.
