Ann: Commencement of Bronchiectasis Study and Ali, page-17

re: Ann: Commencement of Bronchiectasis Study... "Does anyone else especially coops and the long term holders have any thoughts?"

It certainly wasn't mentioned at the AGM but my reaction was fairly ambivalent to be honest. I can see the sense of it because I remember how TGA over here have dithered on so many other matters, and also Aridol. TGA don't seem to want to approve anything before their overseas peers.

I also tend to be comfortable given that I understnad when it comes to life services industry, the authorities have to be very careful. So I guess I am tolerant of the delays that happen.

That's just me. I don't think there is much doubt at all about where the company is going with this drug but it is clear to me the authorities (like TGA and FDA) like to be very, very careful when some new drug comes along.

I can understand people's concerns...it comes down to risk tolerance.

I don't think PXS have lost the plot, nor do I think this is a bad move when looking at the bigger picture. Just my feedback...since I was asked.

Regards

Coop