Ann: PolyNovo presents at Macquarie Australia Conference, page-50

Williams sold once he knew the 6m record was reached . He is entitled to take advantage of the big slump in US estate prices and still has a huge holding. I cannot think of anyone else right now who has bolstered the share price by buying as he has over the years . I have three well known asx 300 shares by contrast where there were multiple insider sales of significance before disappointing results. I have sold off a market favourite medical stock today as I am not so assured given its later in the cycle, about its broader appeal outside a well endowed sector and recent increasing competition. We all have to make these judgments as the cycle ages. I am happy to see PNV spend at this stage of its cycle as it has to. My only reservation has always been India which I hope I am wrong on. Becoming profitable in 25 instead of next year is ok as long as it can achieve results widening uptake in the market . That is causal. It has proven its time and treatment saving, ease of use , results, low infection status and cheaper production costs ( which will be no hindrance to profit once its grown more) give it a broad market in first world market. Every hospital there treating burns will be able to afford it . I would really like to see it bolster up British and EU sales. If you are a long I (I have done short term trading in the past on what I thought were unconvincing biotech companies) and are happy with the management, product appeal . industry positioning and future growth always stay aware of market news and its reporting but otherwise put this stock in the back drawer in terms of the disappointing volatility.