Just about the nicest, professional and hard working CEO i have ever been involved with......
Nothing of "outside knowledge" in the emails so imho im ok to post and hopefully give some reassurance to those that are feeling the pressure of the SP...
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Hi James, hope this finds you well..
Just a quick email to say how impressed my wife and I have been with all the ticks and left field announcements in the last few months that is cementing PAB as one of the most exciting stocks out there in this doom and gloom world environment we seem to be in...
How was Perth? Did we hit on anyone's radar that we have not hit before?
As the Tox report has a highly(probable) chance of success we are hoping that some of those that are on the radar make their presence felt soon..
Our timelines say that Tox studies will commence q4, have they started? and how long(roughly)would you expect before results are known?
It sure is disappointing that the SP hovers around lows but we all know how this end of the market can be and world events and delays do fall kindly to some who like these levels for certain reasons...
I hope you and the team are well and that the Christmas break, whether long or short, you get the rest needed for that push into the clinic that will be anticipated by near and far.
Stay well
Regards
Matthew
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Hi Matthew,
Always great to hear from you. I hope you are enjoying the sunny weather – certainly nicer than the last few weeks.
Thanks for your ongoing support of, and interest in, Patrys.
Despite the share price, things are progressing really well, and there is a lot of excitement in the Company as we prepare for PAT-DX1’s phase 1 study in the second half of next year.
Lots to do, but we have built a great team, and are feeling quietly confident.
The Perth meeting went well. Always hard to know with these events if you have influenced on-market buying, but I had a range of good meetings with strategic investors, which was pleasing. You know I’m not going to say whether or not the Tox studies have started yet, but I will say that we have no reason to change our end date of Q2 next year. Suggest you have a look at the AGM presentation next week.
Re the share price, it is really frustrating, but we are not alone. I did an analysis of the 50 other ASX-listed drug development companies last week and only 2 of them are above where they were 12 months ago. Most are significantly down on where they were, and about 23 of them were down 40-60% (we are down 49%). That said, we have a strong cash position, so are in a good place for patient investors.
Lots to do before we put the tools down for Christmas, but I’ll pass on your best wishes to the team – thanks.
I hope you and your family have the chance to spend some quality time together over the festive season.
Best wishes,
James
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