There seems to be some significant misunderstanding with this...

There seems to be some significant misunderstanding with this Company. Yes...they have some cash but that will only last until the end of 2016 IF they do nothing|!! Apart from pay their own salaries. Paying their own salaries is doing nothing for the investors...there will be no creation in value (and hence an increase in share price) unless they either:

(1) Get approval to use the manufactured PAT-SM6 in the proposed clinical trial

OR

(2) Bring in some different assets or do a strategic deal??

(1) Is HIGHLY unlikely.......by their own admission, it is unlikely that the PAT-SM6 that they have manufactured will be released for clinical use. We know that the PEI authorities in Germany have very high standards and if the antibody does not meet their high standards, then it will NOT be approved for use in a clinical trial. IF the PAT-SM6 is approved for clinical use, then Patrys needs to help pay for the clinical trial!! Their cash reserves will NOT be enough in that scenario.

(2) IF they can bring in other assets then cash will need to be used for not only the acquisition but also for the development of those assets. There will also be significant dilution to the existing holders! At a share price of only 0.7c,how many more shares can this Company issue?????

IF the shareholders of this company want to sit around and let the management and Board take their salaries and fritter away the cash then so be it! At the moment (and this has been the situation for the past 6 months or so), NO value is being created in this company. Whilst PAT-SM6 has shown to have good initial therapeutic value in the treatment of patients with relapsed and refractory multiple myeloma, NO progress is being made and the future of this product looks uncertain due to manufacturing issues.

People..........get your heads out of the sand and look at the real picture here. They cannot manufacture IgM antibodies at scale. The clinical development of PAT-SM6 is on hold and there is NO real plan moving forward. They employ several highly paid management members as well as a well-compensated Board (one of whom is the major shareholder in the company)...is there any research going on?What happened to the CAR programme they referred to in the past? What about the diagnostic grant programme? What is happening in Germany? Where are the publications??

So many questions. The CEO has provided no answers.