In my post dated 28/7/23, I expressed frustration regarding how...

In my post dated 28/7/23, I expressed frustration regarding how easily the share price has been able to be manipulated, primarily down on small volumes - in spite of continually good operating and financial news.

This was highlighted on Friday with the price falling again, for a second consecutive day, to close at $11.76, a 10% drop in 2 trading days.

Following my earlier post, I emailed Neuren using the investor contact on their website, expressing my concerns and asked for clarification about what the board intended to do regarding the situation - if anything.

Last night I got a reply directly from Jon Pilcher, Neurens CEO, which was pleasantly surprising.

I have confirmed with Jon if it is ok to share this comment, which is as follows:

"The board is actively considering all capital management options, including a buyback, but our judgement is that it is not the right action at the moment. We need to know our capital requirement for NNZ-2591, which will come after the result in December.”

To me this confirms two important considerations:

1. The Board is concerned about the current share price and trading.

2. In spite of these concerns and with over A$200 m in the bank, the board feels it is a greater priority to conserve capital pending the requirements for NNZ-2591, with results due in December.

Also, one would assume that the board was privy to the latest status of the NNZ-2591 program before coming to this decision.

To me the second point is the big “wow”! - this is how big and important a successful result from NNZ-2591 is for the company.

I will now go back and sit in the “patient” corner - come on December!