knowing risk and why it is mitigated

calling Mr.S, It appears that you have not been reading carefully all the announcements made by PRR over the past 18 months which if studied carefully could satisfy even the most cynical. Your reference to Redfaces and Decan as worthwhile posters shows you are unaware that Redfaces was outed as a director of another ASX listed Bio-tech and he had his own agenda. To enlighten you be informed that CVac is a drug based on the patients immune cells or dendritic cells that acts like a vaccine preventing the cancer from coming back. If you do your research on cancer vaccines and paper from National Securities in the US, and also the paper from Nature on cancer vaccines is excellent to understand the risk and how it is mitigated with Prima. Management are doing an excellent job, let me outline why.

If you see Prima's data presentation with the slide titled "clinical data shows disease modification" you can see there is a change in difference and actually this change in a phase II trial is above other studies and other drugs approved in other cancer indications. On top of this "non-toxic nature is a no-brainer for the oncologist". These two combined mean that just like Dendreon's Provenge, CVac will be a multibillion dollar blockbuster.

Also think of how CVac uses the antigen mucin-1. Dendreon Provenge uses PAP which is prostate specific. Prima CVac uses a platform that can be used across other cancers of mucin-1. Actually they share the patent of mucin-1 with a biotech company Oncothyreon(see Prima announcement 2004) Prima owns the ex-vivo or attaching to dendritic rights of mucin-1. Oncothyreon licensed the lung cancer study of their cancer vaccine Stimuvax to Merck KGaA. Stimuvax have finished their phase III and the interim results where released last month(which cleared) with final results this year. Once the antigen target of mucin-1 is validated by Merck KGaA with Stimuvax then we will see Prima run as they are the only one on ovarian. Plus Stimuvax only uses a fat cell or liposome with mucin-1. Prima uses the patients dendritic cells which will work better than naked mucin-1 alone according to the Nature cancer vaccine paper.

Why else would the world's best experts in cancer Dr Ian Frazer, Dr Heidi Gray, Dr Paul Mitchell and Dr Jonathan Berek be involved in this company on a honory basis, their reputation is too important to be on anything but a winner.

However, there is a final risk and that is the successful EU and US phase III to be executed that can show this in a larger statistical setting. If the drug works on a set amount of patients as all other cancer drugs do, then when CVac shows it works in a smaller setting it must be repeated in a larger setting. Drugs can work but they need to be backed up with such a study.
This is how the risk is being mitigated by using a crack team of clinical and regulatory experts, designing studies with regulators upfront(when Prima gets EU registration study and manufacturing approval in the next few months that is your risk mitigator in place).Typically there is around a 80% chance of success for such a drug. When this risk is compared to reward of the peer Dendreon then there is a 35x reward on the table for investors who are taking this risk. Not bad. I feel the $1 party coming on sooner than later. Hope I have been of assistance.