RAC - Charts & Price Action, page-18425

Race could certainly have got there with RC110 and when I left the EMD AML trial was continuing with a modified protocol that would have enable recruitment. Ending the trial was the right decision once RC220 was developed. I think the way the market has reacted to the Sheba 2 trial supports this was the right decision.

One of the mistakes I take responsibility for (which I took it at the 2022 AGM) was believing what the clinicians told us about recruitment with the original trial design. It would have been very easy for me to just put all the blame on the clinical team as I was the CSO not CMO, but since I was involved in the design of the EMD AML trial I take responsibility. I should have been more sceptical that what clinicians say they will do often doesn't match what they are actually willing to do in practice.

The positive from all these is we have learnt from this experience. I can't do anything about the past, but I can make sure we don't repeat the same mistakes. The upcoming Phase 1 trial of RC220 is a conventional Phase 1 dose escalation trial with no non-standard-of-care screening steps that could block recruitment. The VO2Peak measurements takes place outside of the clinical treatment process and the Baker Institute has already proven that it is possible to do with cancer patients here in Australia. Live and learn.