Hottod For me at least, one problem with viewing POH is the...

Hottod For me at least, one problem with viewing POH is the frequent changing of the goalposts. Specifically here, in September the Newsletter said,

'we seek to appoint an experienced pharmaceutical executive as CEO, and well credentialed Board members to lead the
Company into its next phase of its development.'

The current update makes no mention at all of a new CEO. It has been posted here that the Company did consider quite a few possible candidates in later 2013. Why no appointment was made we cannot know, but (a) POH explicitly believed such an appointment necessary and (b) it's now all gone totally quiet with HR soldiering on. No explanation as to why or future plans. Had they moved to appointing a Board first, then a CEO acceptable to them, they would surely say so. It can only be assumed that HR continues sine die.

Succesful appointment of 'an experienced pharmaceutical executive' would have restored credence to POH. Without it, particularly having acknowledged the need, the Company remains rather in reputational limbo.

The Newsletter stresses the efforts being made to set up cash generative deals. Succesful phase 2 pain trials later this year is, of course, the key issue. If they go back further or are inconclusive, the cash flows from the current applications are not yet apparent, and we do know the most recent analyst reviewing POH felt he must consider a further cash raising necessary.

Had a reputed figure taken the helm, there would be confidence in the Company and barring a major setback it'd be a reasonable bet that a further cash raising (if necessary) would be supported & POH could soldier on to completion. Without that boost to confidence.....??

I wouldn't want to conclude on that note. If they can get through the phase 2 successfully and the cash lasts out, the world will be queuing at the door. But confidence & the sp would certainly now be higher if the Management regeneration strategy quoted 6 months ago had not disappeared from view.