abn ambro healthcare snippets mentions prr..prr starting to...

abn ambro healthcare snippets mentions prr..prr starting to attract interest..

heres the link:http://www.primabiomed.com.au/projects/prodDocuments/ABM%20AMRO%20Morgans%20Healthcare%20Research%20May%2009.pdf

Recent Company Visits
Prima Biomed (PRR, Not formally covered)
We recently caught up with Martin Rogers Executive Director from Prima Biomed via a
teleconference. Prima Biomed has had a strong run recently (from A$0.03 to A$0.11)
following the successful results from a broadly similar company in the US Dendreon
(NASDAQ:DNDN). DNDN released positive pivotal trial results for its treatment targeted at
prostate cancer.
Prima’s core compound CVac is a potential ovarian cancer therapy vaccine. Prima is setting
about divesting its non-core assets to focus on the CVac program. Its current cash reserves
of A$0.25m at 30 April are to be boosted by a placement to Laurence Freedman of A$1.5m, a
share purchase plan priced at A$0.07 and A$12m funding facility from Fortrend Securities.
Prima recently announced that it has commenced discussions with a potential North
American insitutional investment fund. The funds raised will enable a Phase IIb/III Pivotal trial
to be undertaken. Currently the company has commenced its Investigational New Drug
application for the FDA. It is anticipated that the trial could commence in September 2009.
The trial would take approximately two years to complete. Prima would explore partnering
opportunities during this time. An interesting play for investors with a high risk profile.