Ann: Chairman's Address and CEO update, page-8

Think you have a different stock mate, never been that high.

In and out at a profit several times. Offside at present, but the IP is ridiculously under-valued despite the appalling mismanagement (sadly so many good Aussie bio-techs poorly managed), happy to have a punt, as its effectively a call option stock. The merger clearly addresses the cash burn to a degree and equity raising, private or otherwise, a hundred times easier in the US than expensive Oz.

Look at the doubling in prices in days....one could be forgiven for suspecting someone knows of some emerging news on the horizon. Could simply be successful conclusion of the merger, or outside chance, a new Progenza partnership - slim odds the latter.