Totally agree. At a loss as to why such a big placebo difference. Unless the US arm was contaminated with the active it shouldnt make any difference that permetrex was manufactured by 2 seperate companies...
And yes. Management putting out the sales presentation AFTER market open was a joke! They should have extended the halt until tomorrow.
I agree that it is oversold though. Dermatitis, rosacea, and antimicrobial still to come, plus a drug that reduces acne by 40% and moving to phase 3.
Also we have 50 million in the bank so the EV is only about 60 million now which is cheap.
Going forward we need clarification from management about the US placebo..
Concerns going forward are (and no doubt shared by the market)
1) FDA dont think the results are good enough to proceed to phase 3 (which i doubt)
2) No clarification is given around placebo discrepancy
3) Big capital raising for phase 3 at a low s/p which will severely dilute the company..
Its such a shame and so frustrating because without the US placebo anomoly we would all be purchasing thise Ferrari or whatver you all had in mind today.. Australian results were great.
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