Bot Chart, page-3139

We were getting valued by them then at about $200m I believe with the US shares at 21c.
Someone at Cohen thought that there was plenty of mileage in it one year ago but what piqued their real interest is the issue.
We had two phase 2's going and the antibacterial comments, world damn class results, results that had to be clarified mind you - No Resistance.
But this was overshadwed by the complete failure of atopic dermatitis then the acne results. Acne will get to market I believe but rosacea has been thrown in there to calm the FDA. It was a strange thing to do but when the judge talks, you listen. So now we work on the 'sleeper' in BTX1801 and wait because that's what biotechs are about. At 5c a share, this is very cheap. So we should be very happy that the WA hospital team is doing this because they are naturally keen to see positive results.

There is again the waiting game which is de rigeur. But you have to be quietly confident based on the FDA's response a month or two ago.