Well PAA probably drafter the media release or at least the...

Well PAA probably drafter the media release or at least the media briefing statement. If it is anything like their releases and investor presentations the media probably avoided publishing it fearing they'd put the readership to sleep or confuse the heck out of them.

There must be a reason why a drug like the one we saw today trialled in mice gets a nice big news article....and PAA and Australian company testing their drug in humans with some success gets ignored....it aint the drug either, again its managements skills on display.

I can just imagine it.

PRESS RELEASE : New Drug Shows Reduction In BioMarkers Associated with MND

PAA, an Australian small cap biotech, is mildly curious but not excited by its latest round of testing of it's flagship drug, Monepantel. The drug which should have been fast tracked to market but has so far taken as long to develop as a new drug has shown some early successes in reducing biomarker indications, strongly associated with MND. The company said "...these developments confirm MPL is doing something. But we are not getting excited as it is more likely than not that the effect will not be in the sufficient therapeutic range to market, and we still have many years of testing."

Success in a phase 1 would allow the company to pursue orphan drug status with both the FDA and TGA for MPL. The company has said however, while they would likely be successful in this application, should the overall phase 1 be positive, they are unlikely to pursue this as it they have identified another shiny ball to chase and do not believe getting FDA registration is in the best interest of shareholders. Additionally, by not pursuing the FDA or TGA application the company will save circa AUD500k, which will provide wages for another two quarters.

Their spokesman said " At PAA we like to be a purist science company. think of us as a not for profit research organisation, but just a really badly managed one. We like to scratch the surface of things and open multiple fronts without ever truly bringing anything to a conclusion. We dangle a carrot, work at a snails pace to accomplish anything of note, and then endlessly continue trialling and researching without ever gaining any increase in market cap. We fear that commercialisation and advancement of the SP will likely result in impacts to the science and may bring about our demise in collecting a paycheck. Also organising commercialisation is really complex and other parties hold you to account for timelines and deliverables and that certainly does not align with our values."