teleconference

I have just listened to the teleconference with PS, CFO and Tracey Brown (worlds smartest oncologist)

Key Points.

Phase 2 costs for small cell lung cancer trial >$400K.

Phase 3 trial for HA - $20million. How much does ACL need to raise? They wouldn't say, but it was substantially less than the full amount. Timing of Ph3 22-24months.

Funding options for phase 3. They have narrowed it down and are pursuing one option with a high degree of confidence that it will be successful. Absolute highest priority given to minimising shareholder dilution. They stated that ph3 wouldn't commence until funding approved, but stated that if it didn't occur in Sept it would by early mid Oct. Join the dots....

Comments alluded to a rerating of stock once funding is finalised.

Discussed partnering post Ph3. High degree of interest shown so far but nothing will be finalized until ph3 complete. PS made comment of comparison to another company that was partnered (abraxis maybe?) for $3billion. Made comment that ACL could be in this ballpark.

Tracey Brown went through HA. Very promising technology. SOmething like 1000 times the efficacy for killing tumours at which one of the Biotech journo's went WOW!

Overall IMHO its all looking very promising. The conference call was very good and it is reassuring to hear PS speak with such confidence and knowledge. Now if only they can convert this teleconference into a market announcement encapsulating all the postive sentiment....

For what its worth, I ilked what they had to say and am buying more now.

Taken from my very rough notes and accuracy needs to be verified against transcript.

Cheers,

I hold ACL