todays meeting

quick summary
please note as I am not across the science I will leave discussions on that to others

about 12 shareholders
issues raised
split for Lani ROW - discussions ongoing and split likely to be in the top quartile - towards 90/10 but under discussion.
discussion of patent expiry in 2024 with prod on market expected 2017 - they suggested the delivery mechanism has a patent until 2027 and they view it as very hard for a generic to go through testing ( medicine plus delivery mechanism ) so they believe they will have strong revenue beyond die to above

phse to trial net cast widely to ensure right number of candidates and avoid variabiliy I strains - although to date lani is effective on all strains

Hi dose of 80 recommended by FDA to see if high dose results in higher effecvtiveness - lni was less effective than Tamiflu at 20mg , equally as effective at 40 so perhaps link in dosage to affect

Russel recognises liquidity issue and says there is a lot of latent insto demand but no supply for them to take meaningful position

editor of Biotech daily asked for apology for botched US move - didn't get one . suggest recognition will come with time

he said more research/coverage likely

No Barda funding in pipeline currently

Looking to enter into other programs with cash

some message re stockpiling , potential for Relenza sales - no transparency as when and how much.

question raised re dual listing , no commitment an in my view unlikely

So in summary - focus on Lani Gram negative and RSV and desire to expand pipeline. Russel said its not often you get combination of proven drug, trials and development funded by customer and upside remains yours - and this is why I will continue to hold

i left the meeting with a little more detail , a comfort that we may see some recognition but overall neutral. I will not be selling and am comfortable to hold.