The company switched from "Phase 1" terminology to "Early Phase 1" in their announcement on the 11th May, I am hoping that this does not mean there is a second Phase 1 trial to follow the "early" Phase 1 Trial - from your comment it makes me think there wont be but would love to hear it from the horses mouth. The company also said in there announcement on 11th May: A complete overview of the clinical development plan to support the neurology treatment indications forEmtinB will be provided in a separate announcement in the coming days. I have been very vocal on here about my frustration towards management missing key deadlines, misleading shareholders, and deceitful behavior, - add this to the laundry list.
Initially we were told after last years options we would be fully funded until completion of Phase 1 trials, from memory we had approx. $15m at the time. As per the last quarterly we are in a "strong" cash position with 7.9m in the bank, so about half that money gone, albeit with NEUROLOGY trials to start soon... Where I am a bit concerned is with the Glaucoma trials, from what I can see the company hasn't made any mention of these trials since the 24/03/22 - and an update on these trials was omitted from the quarterly??? According to the investor presentation on that date Glaucoma trials are due to start in 2H 2022...
I really do hope Management has the competence to deliver Ph1 Neurology AND Glaucoma trials with that $7.9m cash we had as at 31.03.22. Raising capital in this environment will be a nightmare - would be good for us loyal shareholders to actually see some progress which is what we need to get back in the green - perhaps now most of you are in the red as well its time to start asking some questions of the management?
Holding, unhappily
NSB Price at posting:
17.5¢ Sentiment: None Disclosure: Held
