PXS - Great announcement putting the company in the spotlight...

PXS - Great announcement putting the company in the spotlight for the future.

New strategic direction – to build a regional biotech centre of excellence in fibrosis and inflammation
o Multiple drugs from in‐house amine oxidase platform developed to phase 1 or 2
o Collaborate where necessary to de‐risk and accelerate internal and external programs
o Licence out to Big Pharma with attractive 1st in class drugs post phase 1 or 2
 Short to mid‐term opportunities
o Milestone payments from Boehringer as PXS4728A progresses
o LOXL2 collaboration to phase 1 or 2 and subsequent partnering
o 3 additional drug programs in the drug discovery pipeline
o A stake in the US commercialisation of Bronchitol (funded by partner) and sales by distributors in the rest of the world
 Financial strength
o Restructured Bronchitol business to reduce investment (>50%) and shorten time to profitability
o Pro forma March 31 2015 balance sheet cash at $62m