Ann: Appendix 4E & Full Year Statutory Accounts, page-3

Nothing surprises me in this report. It is as expected i.e. cash is being used to build the generic pipeline. Good to see a little bit of growth on the Evamist and Lenzetto. The real value will come when they commercialise the generic pipeline and when sales start. At the moment, I guess they will be waiting for FDA approval on the 3 products submitted. Once we receive approval i'm sure we will see a licencing agreement soon after.

18m of cash left, looks like this will be enough for another year and a bit. Hopefully sales begins before then and we do not need a capital raise.