trading halt, page-36

The CR will obviously add certainty to PRR's clinical aims, which one would think would offset the dilution effect on Southern Cross' recent valuation.

A valuation which is looking a bit skinny right now.

I think the fact PRR is moving full steam ahead now (before N) is significant in that it's a sign that we must be ahead of schedule, eager to please American investors with such mesmeric efficiency and confidence in getting away a CR of this size, and eager to complete the Phase III trials and propel the company headlong towards commercialising a blockbuster drug.

If this doesn't impress the socks off of the Americans, nothing will.

The more I think about it (having doubted it yesterday), the more I can see that this is in effect strategic in nature, and an all round brilliant tactical move.