Definitely no need for panic selling.PRR is represented today at...

Definitely no need for panic selling.

PRR is represented today at a bio-investment conference in Tokyo. The NASDAQ listing seems to be close. Phase 2 trials proceeding in an orphan drug environment.

Seems like business as usual to me!

Not sure about a share placement though. If it was to a large pharma as part of some partnering or licencing deal, then fantastic. But I've been with this stock long enough to have confidence in management. They will need big $ for phase 2 and 3 trials, and I don't think they wouldn't have discontinued Springtree without something better in the pipeline.

Personally, I'd like to see management test the strength of the shareholder base with a share purchase plan, rather than selling the farm to private investors.

Timing is critical with this though. Pitching it at a time of potentially positive announcements (NASDAQ/funding deal. etc) would obviously help. The last SPP was struck at much lower levels, (7cents as I recall). Problem was you could buy on market for about 6cents at the time, so you had to be very loyal to participate.

With the SP currently seeming to be supported at 20+cents, a well subscribed SPP pitched in the 15+ cent range should raise enough to fund trials for some time, without the dilution that shareholders inevitably see with external placements.

One man's opinion. Good luck all!