informal meeting with ml

ML and James Moss spent all day in Perth today.

I don’t know what got ML to fly to Perth today from Sydney (I bet SPP related matters ;) ), but they used this opportunity to have an informal meeting with shareholders in the evening.

(!) This was not a secrete or any special meeting sharing any inside info or data, just a chance to meet with Perth based shareholders, brokers and etc in the evening after their main meetings. Again it was an informal chart, no presentations or announcements. And for me it was a chance to ask several questions.

There were about 20 people in the room, but only couple of shareholders.

Below are some questions and points that were raised and discussed

1. SPP now. The company needs money to continue with the trials and start new trials, capital is rarely raised during summer months (i.e. holiday period) and it’s too dangerous to leave it for the last minute.

2. Neil Fraser departure and timing with SPP. No conspiracy here. They had discussions and conversations about this for few months and ML wanted a formal announcement prior to SPP to be open and upfront with shareholders. There were more said on the reasons of the departure, but I’m afraid to misinterpret the medical-scientific details.:)

3. New trials:
a) The announcement will be made in 2-3 weeks
b) They completed 7 feasibility studies (btw, what is feasibility study in medical world?)
c) The trials may include males and females.

4. Slow CANVAS recruitment. Again with all the previously stated reasons for a slow ramp up ML said they want to see and analyse ICS and CAN-003 data in case if they need to make any adjustments.

5. interim CAN-003 data: they do have access to some info, but not to all details and not clean; they don’t run weekly or monthly progress reports on the data. They will see the full set in Q4, 2013 (but a bit earlier than shareholders tho ;) )

There were more things said and discussed, I may remember and post later if a related topic or question comes up.