PAA what is happening there, page-4

Have held PAA shares since 2014 Gibbo so here’s my take. A lot of upside but a frustrating little beast . Progress nauseatingly slow, communication erratic . Successful 2015 phase 1 trials in man, palatability issues cited as obstacle for phase 2 - not scheduled now till 2018. Canine trials also ‘dogged’ by palatability issues and tiny numbers of very ill subjects. Palatability appears to have been understated and a euphemism for major digestibility issues. Capital raises well subscribed but overall trajectory of share price has been downward. Occasional upward blips, like the current one influenced by the Argonaut recommendation and the 2016 Red Chip USA exposure. Prof Morris major shareholder and the medical pioneer behind technologies stood down as director in 2015. Roger Aston replaced recently by Richard Hopkins as CEO. Both have successful biotech records. Appear to have been preparing the IP position well via arrangements with big Pharma re monepantel. Similarly re regulatory requirements should phase 2 be successful. Epichem revenue growing steadily and impressively in the background and has new operational capacity to at some stage become profitable. In a nutshell, PAA is still vastly promising particularly if long awaited phase 2 trials are successful.