FWIW my view is that the signs are positive for PPL-1, both in...

FWIW my view is that the signs are positive for PPL-1, both in humans and canines and overall PAA has  strong commercial promise beyond this one drug (which admittedly is a game changer if it proves to be what is hoped). Albendazole & Mucin are both strong contenders in large markets ($500M & $300M)  with little or no competition. In both cases early signs for successful trials are strong.

They are playing their cards close to their chests with both their IP (a "yet to be named Japanese corporation) and potential JV partners for PPL-1 and Albendazole.  Particularly telling for me is their statement under Future Developments - "In the opinion of the Directors disclosure of information regarding likely developments in the Company's operations and the expected results of those operations in subsequent financial years could prejudice the Company's interests"

Backing all of this up and providing significant credibility to PAA as a serious pharma player is Epichem.
In the opin
They stated in the annual report that they have sufficient funds to cover their "forward program" and "Consideration will now be given to joining with a major international pharmaceutical company to shorten the time to market and begin trials in the USA and Europe".  In my opinion to even begin to be taken seriously on the global stage PAA knows they have to take their stock out of the penny dreadful range and this consolidation is doing exactly that (or at least pointing it in the right direction).

Of course I could be completely wrong so DYOR!!