GENETAL, page-13

The reason for the lows and potential of lower lows is that there are no actual timescales set to get back on track...

We need another production run and that will not be started until after the final draft of the investigation of what went wrong comes to hand, in the last Ann
""we believe we should be able to initiate a new production run in the coming months and have already commenced preparations for this""
So this is hopefully on track but the ""coming months"" still leaves the timescales wide open..Also how long this will take must be added to any calculations if trying to gauge trial dates..

Speaking with experianced and informed people recently on PAB's IP's one of the problems is the time it takes to actually book your slot in with the CDMO partners, i asked about DX-3 being on the same pathway now as DX-1 because of the delays but to my slight surprise i was well off, an engineering run can only start once the MCB is tested and approved, and that at present the lead times for manufacturing slots are of the order of 9-15 months globally...
Then allow Tox reports(final draft) and you can add another 10 months..

So going to clinic with our GOLD STAR product is at least a couple of years away at least, but we all know once the engineering run has been done and passed it takes us to a different conversation(somewhat)

With now knowing that getting into the slots for your production runs are so backed up i can understand why we are trading at 6yr lows and looks like going further down hill(albeit on small volume) because without stability of volume for dx-1 and the blow out times for engineering runs for DX-3 then we do not have much to look forward to in the near time....

A CR imho will be a must towards the end of the year to fill the bank with the costs that will follow in 2024, but will we actually get to trial in 2024 is still a big ask right now....

Left field Ann's of partnerships/deals looks a bit of a pipe dream right now and raising at near all time lows towards the end of the year/beginning of next is a real possibilty...

However the red in my portfolio makes me feel(not very good lol) i will be buying more because what we have in reality is just a delay, nothing has changed and it is already a bargin(if your risk appetite can take it)and if it goes lower even more so....

A long road ahead and patients hopefully will be rewarded......