it all makes complete sense, page-3

My thoughts on a few things.

I got considerable satisfaction as a LT holder from watching last night's events. Well done to the management team. The fundamentals of the company won't be altered by current posturing on the Nasdaq and ASX. After it subsides, the bottom line will be that PRR is exposed to a much bigger market. It can't be a bad move imo.

Now the Nasdaq bridge is (finally) crossed, I'm expecting PRR to considerably ramp up the company's US profile. My gut feel is that most US investors have probably never heard of PRR/PBMD. It'll need plenty of hard sell to fund managers and analysts to achieve a flow on effect to the retail sector. I doubt it will happen overnight and for that reason I'm not sure well get any rerating from that source in the near term. Maybe I'm wrong. But if larger funds or a suitor get involved who knows? I'm sitting tight.

Value driving announcements dont grow on trees but one or two of those wouldnt go amiss right now. Certainly a Dubai update, and phase 2b progress reports in the near to medium term. Unless a major rabbit is pulled in the next 12 months, I'm confident it will be the interim and final phase 2b efficacy data that provides the ultimate SP springboard.

Re the timing of phase 2b data, I think most HC long termers are pretty much on the same page, but some of us are just faster readers than others.

As I understand it, Phase 2b is randomized and open label, with 45/48 patients getting Cvac and 15 in the control group receiving current standard of care. All patients and medicos know who is in which group. Reading between the lines of patient forums, I get the impression that the control group was understandably hard to fill and maintain, delaying full enrolment and therefore final results.

IMO the safety data announcement in June should be a non-event. I think any doubts in that area were removed when the phase 3 trial was granted the much accelerated go ahead in January. In my view, there's no way that either the FDA or EMA would have kick started the 800+ candidate trial if they had any lingering safety concerns.

I think two key HC posts in recent months give a pretty clear guide to when the interim 2b efficacy data might be published:

1. December 15, 2011: Twinpeaks quoted Martin Rogers, from an Ord Minnet presentation. (#7548695)

"PRR is expecting initial results from the llb trials around June 2012 or perhaps 6-9 months after. At this stage all the patients are in good health so we may have longer to wait."

2. March 3, 2012: Macencroc quoted an email from Dr Neil Frazer (#7826242}

" .... We are planning to release safety results from our Phase IIb (CAN-003) study to date in a poster session at ASCO in June. The efficacy results will be later this year or early next year, highly dependent on how long patients are in remission in the study.... "

So I think it is pretty obvious that the company is not expecting to announce any interim phase 2b data before the end of this year at the earliest.

Since the Cvac 2b trial measures progression free survival, PRR will only get meaningful results when some patients experience the worst outcomes of ovarian cancer.

I’m happy to wait.

Good luck all. Herro