Australia has always lagged other countries when valuating...

Australia has always lagged other countries when valuating certain sectors. The dotcom boom took longer to happen in Oz and never reached the heights of NASDAQ.

Biotecnology and Pharma is very similar. Australian listed companies are very undervalued compared with international peers. Obviously we dont have massive companies like Glaxo or Pfizer or Roche. But we are undervalued.

Having MLPH listed in USA and with what I consider the jewel of PNO in Tripeptofen, you can imagine that If/When progress is made then MLPH will be re-rated and as 80% owner PNO will benefit hugely.

$7mil is a joke. But for Australia its almost normal. ADO,VLA,OBJ all tiny caps.

I think why we tend to get frustrated with PNO is the sp chart. You look at the highs(and lows) and the coresponding announcements at the time and we seem to be getting closer to the prize but the sp is going lower.

I viewed it as a BESBS (Buy Early Sell Before Spud) oil play. We were getting in early. WE knew a product launch(spud) was coming and we knew the product(oil) was good. Logic says those that waited it out would make money. Hasn't happened. Still might.