3c M/C $18m going to 20c M/C $120m in 150 days, page-48

There won't be any results until some time after the trials actually begin. That hasn't happened yet. In fact the company hasn't even announced any plans around the trial: no partner, no enrolment criteria, no starting time frame. Try not to get ahead of yourself.

I've observed these inexplicable spikes with other Brian Leedman stocks. If the same pattern plays out here the two most likely scenarios are:

1. ASX issues a price query, the company responds that there is no news, the share price will rapidly retrace to 7c.
2. The company releases a non-material announcement with some vague parameters around the next trial or a new line of investigation, volume will spike without the price moving more than a few points, the share price will retrace to 7c.

In my opinion the third and least likely outcome is that the company will announce something material and the new price will stabilise, possibly with a long gradual retrace if there is no follow-up news. I'm not aware of anything in the pipeline that could possibly be considered material at this stage, especially given the lack of concrete plans for starting a new trial.