Ann: Prana provides regulatory update for PBT2-PBT.AX, page-20

I am dumbfounded. Where to start?

After two years of apparent ineffective leadership I was hoping for a positive surprise. Surely having taken this much time they must have come up with something really good! Maybe we'd go straight to market!!!

But nope. They delivered nothing. Not even an apology. And no explanation.

Oh, but there is this: "Recently, Defined Health, a US based leading consultancy in therapeutic opportunity evaluation, has conducted research in Europe on Prana’s behalf and reported that cognitive decline in Huntington disease remains a significant unmet medical need, with no approved treatments."

Read that again. And ask yourself how many dollars we paid to learn that Huntington disease "remains a significant unmet medical need". I checked the Defined Health website to see if Ira Shoulson is a director or has some other stake. The website didnt tell me.

And so now we go to Europe. But before that, we go to an AGM where we will vote various performance bonuses and share options. And maybe also grant permission for a capital raising (after all $30 million wont last forever.)

Where is our resident Prana critic today? Obviously he is taking the day off because nothing he says can outdoing the bashing that Prana has just given us!

So, so disappointed and just a bit angry...

Cheetah