The Phase 2 Acne Trial achieved variable (clinical) results -...

The Phase 2 Acne Trial achieved variable (clinical) results - the results in Oz were positive, the results in the US inconclusive. This caused the share price to dump (dramatically) and many people got burned. There was no clear answer as to the cause of the US failure and speculation on everything from a QC failure to intentional tampering with product or process got called out - with no clear proof of either. At the end of the day, it was a failed trial.

The thing is, the science behind the product still looked good - so some of us (gnerally the LTH) continue(d) to sit and wait for a more rigorous re-trial or reformulation - then along came SOFD and the focus moved to something that could be rapidly commercialised and act as a cash-cow to stabilise the company and give them a cash platform for future trials and step-growth.

My personal feeling (ie IMO) ] SOFD is simply a relatively low risk path to market. Once it's established then BOT has a funding pathway to introduce new products without the need for significant capital raising - so the other dermo / anti-micro products can progress with de-risked economics. The dermo products will then get fed through the same SOFD path to market (having already established the brand with dermatologists) and a step change in company profitability will occur (again).