announcement out, page-32

agree zaskar - at least it adds another $1.5m to the already $10m approx cash in hand they already have. Bring on the trial, product pipeline updates etc. That's the real business!!

Frustrating day nonetheless, but trying to keep the big picture in the forefront of my mind. Watching PAB daily probably isn't the best thing for me :)

Awaiting the trading halt for the more important stuff...bring it on.

IMO and DYOR

I posted this a little while back on a different thread in PAB, but it is nice to be reminded of the CEO's words in reply to an email I sent to her.


"the current price is not a true reflection of the real value of Patrys.

It is very compelling that Onyx (Amgen) have decided to fund our next clinical trial. They look at multiple opportunities and invest in very few. I view their interest as a major opportunity for us and good validation of our lead product, as it currently stands. One might speculate that should this new trial pan out as hoped, then Amgen might be interested in a significant deal?

Behind SM6, we have a deep pipeline of antibodies. With the cash that we raise, we will move our next antibody (LM1) towards a clinical development programme. This should generate good news flow.

With the cash that we are looking for, we will be in a position to move the entire Company to the next level of development and this will bring significant value to the Patrys shareholders.

Finally, BBY who are co-leading this rights issue, will be putting out analyst coverage on Patrys. I invite you to please read this report. Of course, this is independent research and the analyst puts his own price target and recommendation on the stock.

Kind regards

Marie Roskrow

Marie Roskrow MBBS, PhD

Chief Executive Officer & Managing Director"