Ann: Recce Completes 5,000 R327 Doses Per Week under GMP, page-34

Congrats on well timed buy and welcome aboard!

After frustratingly slow progress over the last couple of years (I'm sure for management as well as shareholders) I personally feel things have turned a corner and we have had some great developments of late and plenty of promising things on the horizon. This is being reflected in the recent SP action.

I'm particularly buoyed by the Indonesian partnership. If we can get a phase III started this year that will represent a realistic path to revenue in the medium term. Once we have cash coming in the door we can chip away at more complex regulatory pathways such as the FDA.

Of course cash runway is always a consideration in a pre-revenue business, but I think they have managed this quite well with such few shares on offer. No doubt will need to raise some more cash before Christmas but the recent injection will keep the wolves at bay for now. Hopefully there is a significant re valuation prior to the next raise.

Good luck to all!