Ann: Admedus Releases Results of HSV-2 Phase IIa Study, page-185

Look boys and girls, at the end of the day this vaccine stuff cost mega loads of money. Like hundreds of millions. If not more.
So does developing multiple different tissue prosthesis.
That was my mistake. Not realising the shear scale of funding required and the fact that IMHO this had not really been factored in at all by this company when it started it's journey.
It looks now with the benefit of hindsight that they just tried to "wing" it - all the FMG boys.  And my assessment remains that this baton has simply been handed on to the next crop of managers...
That is "wing it" without the real solid and consistent significant financial support from the original founders..
What irks me is I was prepared to hang on for the mega decades long hall, tipping in more and more along the way, but here is the crunch statement coming :not without the backing of significant legal muscle from the ASX in their CR rules that stopped me (as the venture capitalist I really was becoming) being diluted and diluted all the time as others just sat back an "wing'd it".
Got it?
This is what having skin in the game is all about and the recent point about management not having much is so important.
It's a perception thing.
CEOS and everyone else can say "there will be no more CR" "there will be no CR" "we will not dilute you ever again" etc etc until they are blue in the face but that is not a "contract" written in stone with shareholders OK. Its just words. Because at the end of the day they or some other new crowd can just come along and do it again and again (the ASX simply lets them) to keep the "wing it" ball rolling....

There really have been only two decades long large scale successful similar biotechs in this country and these have had decades long financial partnerships with an organisation with huge and very deep pockets. Pockets that could be plundered until the cows came home without each organisations % share in the venture being diluted to nothing. One was a government and the other was a huge industrial company called Pacific Dunlop in the days when there were big large industrial companies in this country.

The companies now? CSL and Cochlear.

It's all very well to say AHZ "is or could be" the next CSL.

I seriously believed that once.... And it may well be one day. Like decades from now.

It's another thing entirely for the original backers of the story to put their money were their mouths are and stay the decades long course that is required to really pull it off..

Do you all finally see the issue here? Loud and clear?

Go Admedus. NA All IMHO and I wish you all well.