Well to all who want to know what is going on with GiacondaSorry...

Well to all who want to know what is going on with Giaconda

Sorry about the late posting as I had to go OS on a Business trip to HK and still in a hotel at Wan Chai.

I went to the AGM on Thursday only a few people there, only 11 share holders in all.

The AGM started out with the usual AGM welcome mat from the CEO Patrick McLean with the usual business of a power point presentation of the successes of Myoconda and projected sales of there product line, blah, blah. All very impressive especially Giaconda lead product Myoconda. Please have a look at presentation on page #4 and #6.

Then the usual ask questions time

The question I asked was

‘How much funding will be required to bring Myoconda to market’? The CEO answer “was 40 Million”. I’m assuming that it is 40 Million A$.

I just about fell out of the chair considering how far this drug has gone to be at stage III. And it appears to be a hell of a lot of money for the final stage / approval. I really don’t know why the cost is so high? I didn’t really want to get into a break down in cost at AGM. “But Giaconda is still looking for further funding to complete the trial”.

I also went on a tour of the Giaconda site with Professor Borody a smart looking office, and my I add a few good looking staff members. One staff member is just taking phone call from OS on Myoconda, which does indicate a strong interest of Myoconda. I started to talk to senior personnel and he or she is very positive on Myoconda and VERY positive on funding. Apparently they have trying to get funding form the US. Apparently they have been doing presentation to US Fund managers.

Just hope Giaconda survives and gets this drug out to people who need to improve there lives from this horrible Chromes disease.

Wally


Link : http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=GIA