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Agree,
Often the success of a Phase II PI-88 trial gets the Pharma to negotiate on a deal. They then pay for Phase III, unless another arrangement will be worked out.

The PI-166 trial must be close to finishing:

Jan. 13, 2003: Commences Human Liver Cancer Phase 1b Trial with PI-166- St. George, Sydney.
http://stocknessmonster.com/news-item?S=PGL&E=ASX&N=150786

I have summarized and have been in quite a few Bio-techs for some time. I find this one interesting because it has a good history going back to 2001: no shortcutting of corners.

They tend to keep the Investors informed although ASX wants to tighten up the rules. Still. they can't stop the Yanks from talking!

The number of shares is quite low and they did have $16 mill on Nov 11, 2003. Of course, some of that will go to the trials.

It is always possible that negotiations with a Pharma will seriously start once they get a whiff of how the PI-88 trial is going.

If there is an agreement, then there normally is a milestone payment as well.

So it all depends on some success.
So far, so good.

Cheers,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.