IRX TA, page-5

Pleasing to see a long term holder coming out of the woodwork and good first up post.

There was very little volume in the 2 cent range so unfortunate but not surprising you missed out in the 2's.

Looked like a nervous retail investor or two dumping small parcels at whatever price they could get a few weeks back.

It literally dropped from 2.5 cents to 2 cents on 15,000 shares ($300).

Same on the way up - less than $10,000 worth of buys took it back into the 3 cent range and sellers ran for the hills as soon as demand appeared.

Regarding news, the biggest one is funding. We've been informed it will be either a funding partner if it's the right deal, or otherwise most likely a rights issue.

If it's the former, the CEO in a recent interview stated it could be a catalyst for a share price rerate; otherwise my guess is we'll be hovering somewhere under 5 cents until a rights issue to get the trials progressing.

Once funding is behind us, there should be a fair bit of newsflow to follow.

In probable order,

1. Ethics submission for IRX 211 Phase 2
2. First patient in for IRX 211 Phase 2
3. Ethics submission for IRX 616a Phase 1
4. IRX 616a Phase 1
5. IND re-submission with FDA for IRX 616a
6. IND submission with FDA for IRX 211

Hope this helps and welcome onboard!

GLTAH