The last advice on this trial (27/07), was that the data was still undergoing statistical analysis, after which it would be “reviewed by an independent panel of eminent scientists and physicians before being released.”
The role of the advisory panel was “to advise on data and future trial strategy”. Three weeks ago, that advisory panel was still being put together.
Hence, I think that this is the purpose of today’s trading halt – the flagged review by an independent panel of scientists and physicians before release of results.
The ASX Code of Best Practice for Reporting by Life Science Companies states that
The Code recognises the importance of peer review in the validation process and acknowledges that in some circumstances disclosure of results before peer review… may be premature.
At the same time, ASX guidance states that companies need to be sure that the circumstances of any delay in disclosure falls within the terms of exception to Listing Rule 3.1A. If there is any doubt, and if the market is currently trading, then the guidance is that a trading halt should be considered.
It would seem to me that NOX is simply following ASX rules.
Ann: Trading Halt, page-48
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