You're taught that the bull takes the stairs and the bear takes...

You're taught that the bull takes the stairs and the bear takes the elevator, and that tends to be true for established businesses growing their revenue slowly year by year until something negative occurs, and it can all come crashing down. I reckon that scenario can often be inverted when it comes to high-potential but pre-revenue stocks where cash position and share-price slowly dwindle after initial excitement and execution risk becomes prominent in investors minds. But then one event can signal an almighty jump as the market decides it has been de-risked enough and has in fact become more likely than unlikely to achieve the success it's potential and much-vaunted upside was built upon.

In terms of milestones for PAR, the only ones that you'd confidently say could do that are the approval of the drug, or a big partnership deal. Once exposed to this vast marketplace, nothing will hold us down (imo).

We all know that finance is the major question mark hanging over this company. A CR is expected by the majority (I would wager), but we're all simply awaiting clarity on how the trials will be financed. For the first time ever, there is a sliver of a chance that the next CR might be the last (i'm not certain on that, but depending on what they do, it's at least plausible). I reckon the knowledge that funding is in place (despite accompanying dilution) to see PAR to the end of it's currently planned trial program, could be a substantial catalyst - because what reason remains for the price to be so low? Trial risk? Something completely unforeseen? The former is mitigated by a very strong safety and efficacy record going back multiple decades. The latter is a risk for any company doing anything anywhere. So, take care of financing, and we could be away.

There remains a degree of opacity around the Bene relationship and supply deal. More than you'd ideally like. The entire value proposition of Paradigm Biopharma hinges on that deal. Any partner will subsequently benchmark their offer against the stability of that supply exclusivity agreement. We'll all have to walk the precipice of doubt if we become inarguably deal-ready after clarity is provided by the agencies on whether DMOAD is at all achievable via our trials or not, and - after that - nothing happens. It'll get pretty jittery all up in here, if that happens.

So, lots of rollercoaster left to ride. Buy now or later? Well....