Family fund investor since NRL days and heavy personal investor for past 6 months. I am impressed with management and believe current value is 10c to 12c on oil sales alone.
I am frustrated the market hasn't found us yet.
Information I passed on to David from Bioshares.
ANNOUNCEMENTS
- James Grahame has joined the TBI program – this appointment ties in well with previous announcement of Liam Picken to advisory board. Tick to NRL & AFL.
- Appointment of Chief Scientific Officer – Dr Mark Bleackley – Hired Mark Bleackley for experience in clinical trial design.
- 1000 Patients for Incannex CBD-100 Oils – Month on month revenue increase. Procurement plans in place to improve margin. Strong relationship with Cannvalate. ((since announced "significant revenue growth" - market has not valued this in))
- CBD pressurised metered dose inhalers – First of a kind into Aus. Update due.
- Development of IHL-675A investigating for potential treatment of sepsis associated ARDS, leading cause of mortality from COVID-19 and other infections – trails to commence in Taiwan. ((have since commenced - results 4-6 weeks away))
- Positive response to FDA approval pathway for both Sleep Apnoea and TBI.
BUSINESSUPDATE
- Obstructive Sleep Apnoea (‘OSA’) - Specific formulation development of IHL-42X with a qualified pharmaceutical chemist was announced at the start of the year. Trial protocol is complete and first patients sourced. Commencement planned for Q2.
- IHL-216A for the treatment of Traumatic Brain Injury and Concussion (‘TBI’) - focus on MMA baseline neurocognitive tests to be completed near future.
COVIDIMPACT
- Matchday sales would be down, adjustments to business structure to reduce costs was already implemented leading into COVID. Business now low cost, limited resources spent on it and sales a bonus. ((since announced business will cease trading))
MC& OPTIONS
- MC seems low compared to peers. Seems cheap.
- Options expire in September – these will be in the money and will add 10m funds to the bank.
EXPANSION
- 2 clinical trials, in-halers, ARDS & month on month sales increase in oils.
SHAREREGISTER
- Tightly held register of directors & management.