biota doesn't need those who missed the boat

To me Biota has found itself in a position where past lack of "selling the sizzle" about its pipeline and therefore lack of excitement by potential partners and investors, has seen them miss out on big license offers and institutional interest that they have probably deserved - hence the reason for all round lack of confidence, apart from those serious holders.

With the BARDA grant, Biota is now able to pretty much go it alone and self-fund LANI to market. They now don't need to approach big pharmas from a position of weakness and big pharmas now understand that if they want any chance of a chunk of the next generation of the influenza antiviral market, they'll have to put down a very serious offer.

So I think that things will just hum along pretty quietly for a while - they will fly along under the radar for a while.

Piper Jaffray will start to bring on more sophisticated US investors. We will likely see the occasional big volume purchase and we will start to notice more strength around the SP.

My guess is that there may be some left field announcement over the next 12 months - maybe a hint of an announcement at the next AGM around some sort of move to the US in order to list - possibly even some sort of merger with a US company that is already listed.