LTH will know that i have been critical of PAR management for a...

LTH will know that i have been critical of PAR management for a long time, but not for the potential of iPPS.
We are now at a stage for which all pre-requisites have been satisfied up to IND submission. It doesn't matter what shortcomings there have been in the past, it only matters...
1 Is there a competitive deal in the background for iPPS through the FDA process? The implication from PR is yes as others have pointed out.*

2 Will TGA be progressed?

3. No on 1 without more work, but TGA will be progressed. This is still good news, it provides more time and more pressure on potential bidders for the main game.

4. No on 1 without more work, but a regional deal. IMO an outsider, but welcome.

All the above in the context of the deadline for PARO in around two months.

* it is the timing of (1) that matters most.

The IND submission response wasn't ready to go, with just a little tidying up. So that looks like a few weeks, up to a month. Then there is the statutory 30 days. So the PARO options may lapse.

If there is more than 1 prospective investor in the data room, then either
a: they already know what they are prepared to bid,
b: or PAR needs to get them ready post haste, as in the next 3 weeks before responding to FDA, and sharing their response with those prospective bidders...
Does it matter if PARO lapse, IMO not so much, the prospective bidders might think it's a good idea, but it is a small feature so it won't affect their bid much as to timing, just the amount.

All of this is in the context of how much money PAR has in kitty. As pointed out by others, PAR has enough to get into 2025. The best price for a deal is more important than how soon.

So, in that context, i am expecting more time without much, any, news, with the possible exception of TGA.

My personal sentiment is hold due to my circumstances already noted, but i remain optimistic.

IMO. DYOR.