meeting with martin rogers at om

Just came back from the presentation at Ord Minnett. Lucy Turnbull was here as well. Here is some info I wrote down:

N listing:

Prima is waiting on feedback from the SEC regarding the listing application.
It was re-emphasized (and rightly so) that the delays are not within Prima's control. Prima is working on this but maintained that the main focus is getting the medical milestones achieved.

CVac

Phase IIb trial safety report due out in June 2012.
Awaiting manufacturing authorization in Australia so that they can start commercializing Cvac in Dubai.
This will be done at a pilot scale and MR advised that some potential patients have already showed interest.

Crypto 1

Update due before the end of the year. The update will contain current development and a roadmap for the next 12 months.

PRR has two options:
1. File an application for IND and develop it alone.
2. Looking at licensing agreement or partnership with other pharma company.

Oral HPV

Update due before the end of the year. The update will contain current development and a roadmap for the next 12 months. Still very early stage and high risk project.

PRR vs DNDN

There were a lot of mention about DNDN both during MR presentation and during Q&A time.
MR mentioned that although DNDN had a bit of debacle with their sales guidance, it is still the 4th biggest oncology product launch ever - which is significant.
He also emphasized on the fact that what led to the DNDN mess was due to poor management where sales expectations were set too high. The only thing that management could control (sales guidance as opposed to clinical trials results, FDA approvals) was poorly managed. MR clearly set the tone that PRR has learnt from DNDN's mistake in their marketing approach.

Lucy Turnbull that Prima will make sure to have enough manufacturing capacity when CVac launches so as not to run into the same predicament as DNDN.

The explanation of the CVac trial results (Phase IIa) were extremely enlightening.
Let's just say that I have ever more faith in CVac after this presentation.
Another great point way that Mucin-1 may work for other cancers (as opposed to DNDN technology) and depending on the patient's physician decision may be piloted in Dubai on other cancers. Of course this is at the discretion of the patient and its physician, not advocated by Prima. If successful it could pave the way for additional Phase 3 trials on other cancers. Very exciting.

It was also mentioned that increasing shareholder value in Australia is one of PRR main objectives. All too often, biotechs leave Australia in search for capital overseas at the expense of loyal shareholders.

Overall, I'm extremely impressed by Prima's management team and its philosophy.

Very encouraging for the future.