Ann: Acrux Appendix 4D - December 2015, page-11

"Employee benefits increased to $1.7 million (2015: $1.3 million), partially
offset by a reduction in Director’s fees (2015: $0.1 million, 2014: $0.2 million). The net increase​

represents investment in research and development..." - hmmm my thoughts on the R&D are well known - and not much to show for it yet or in the past!!!
"During the 6 months ended 31 December 2015, a milestone of US$2M was received from Gedeon Richter (2014: Nil)". - is this to be repeated in the next 6 months?
regarding pipeline - one product maybe to market 2019!!! others still appear to be in initial stages - so what was with the past umpteen years worth of R&D expenditures - all wasted???
IMO issue here is the lack of alternative revenue streams and market sees that as a weakness. Not much progress regarding pipeline projects and years away from what I can see regarding other releases. think in 2017 one of the company patents expires.
increase in profit appears due to the payment from Richter - so hopefully that payment continues going forward - anyone know whether that will be the case or whether will only be paid a smaller royalty amount?.
results are as expected so market not getting hyped on this one IMO. No interim dividend and I expect that the year end dividend will be lower than previous year.
also am not impressed that they didn't mention whether helix matter finalised and if it was what the terms of it were!!