Ann: Trading Halt, page-80

Save yourselves lots of time and ignore all of the speculation/comments above bar @Zenox and @Dungiven

Whilst the company may describe the CRO as independent, it will have contracted it to do studies on the biomarkers described in the trial:

"Timepoint [1] Change from Baseline at Day 56 in one or more synovial fluid biomarkers, including but not limited to cartilage oligomeric matrix protein (COMP), C terminal telopeptide (CTX) -II, NGF, interleukin (IL) -1ß, TNFa, IL-6, a disintegrin and metalloproteinase with thrombospondin motif 5 (ADAMTS-5), ARGS (aggrecan cleavage fragments, tissue inhibitor matrix metalloproteinase 1 (TIMP-1), CTX-I, and type II collagen (C2C). Synovial fluid biomarker samples will be taken at Baseline and Day 56."

The most obvious answer is usually the likely answer. We will likely get a nice shiny power point webinar presentation on Tuesday, explaining how these biomarkers change within 56 days - a very short period of time in the pathopyhsiology of oesteoarthritis - and then inferences on the likely mechanism of action in Zilosul's effects on the condition.

It will be a welcome information discovery episode for us and as previous indications of biomarkers have suggested, a likely positive indication into the efficacy Zilosul has initially indicated. People need to relax a little. It will likely just be more insight into mechanism of actions (MOA's). Whilst 008 is useful in giving an indication on understanding the results, it is the pivotal Phase III trial (002), which will ultimately determine PAR's future and any change to our little piggy banks.

As Dungiven pointed out, you have a strong indication of mechanism of action in the Phase II results back in August 2019:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02140099-3A522758?access_token=83ff96335c2d45a094df02a206a39ff4

COMP and ADAMTS-5 were shown to be highly elevated in OA sufferers and part of Zilozul's mechanism of action likely to be highly effective in reducing cartilage degradation by reducing this inhibitors. PAR is now nicely cashed up and likely to show via an "independent" CRO how biologically its going to be successful in its trials with the money investors gave them.