NZ Trader,
IMO what is clear is Elanco option is awhile away especially since they will most likely see full results 6-9months down the track from today.
I think, how this plays out now is front office should*** give a update of trials sometime before end of year, thereby triggering the 6month option for Elanco.
If I am not mistaken Elanco will have 6months to "exercise their right", after these 'intial' results in other words "hands of off PharmAust everyone"
Thereafter they have another 6 months to negotiate financial terms, eg-royalty, upfront fee
Of course the Co needs to get a wriggle on and recruit those canines first, I am very surprised this hasn't been planned before or at least trying to source the dogs many months ago
anyhow I am happy with the update and agree with user ThePig, this update should have occurred many weeks ago.
perhaps they didn't envision problems on the recruitment front
regarding share price, I expect this and interest to slowly increase again over coming weeks heading into December
GL SHs
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