Great response. Hard to argue with a logical answer.

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Boom1989

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13/04/21

14:38

Post #: 52432299
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Originally posted by DoubleDown!: ↑

No news means nothing is happening. From my reading of the tea leaves the trial opened for enrollment in late November with the first patient expected by March 1st. By the 26th Feb no patients had been enrolled, which I suppose technically means it might not be delayed.

But the company have been deliberately opaque and non communicative about enrollments both in public and in private emails to holders. It has also said it is looking for a cohort of fifteen patients which is the lower end of the 10-30 they mentioned in the trial documents. They also mention the Austin as a second location but this has not been announced so I think we can assume it's not ready yet, certainly Bob said it wasn't ready two weeks ago.

It's hard to look past the latest newsletter where Bob was very quick to talk about how hard recruiting is with CoVid. This screams delays inevitable to me.

We are five months into the year long trial and by all indication we have no enrollments. I don't know how enrollment works but I assume patients present in a random but continuous way. By that I mean if we haven't got one patient in five months I don't know why 15 would present in the next seven months. Though clearly a second location would change that a lot. If you're expecting initial reporting before July you're dreaming, before September you're hoping, this year however could happen.

All you can do is hope that the company is working on other aspects and getting ready for trials with other cancer types, but you wouldn't know because the company is terrible at communication. Lucky we got the prostate cancer grant from the CSIRO because that forced the company to talk about it.

Looking forward to the quarterly, there was $13m in the bank in December which you'd hope would see us through this year before another raise but we will need to see cash burn from this quarter to get a handle on the costs involved in trials and whether the company is adequately prepared to fund a larger trial.

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Great response. Hard to argue with a logical answer.

IBX Price at posting: 14.5¢ Sentiment: Hold Disclosure: Held
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