What now?, page-2

Hi MJM,

Whilst I can see why the glass is looking decidedly half empty to you at the minute I think you underestimate the amount and significance of the news flow to come between now and the end of the year.

First up we have our man Larry providing some clarity after the disappointing but in hindsight not unexpected result given the trial parameters. TBI ain't dead yet but as a number of posters and Neuren themselves have pointed out the orphan drugs remain the key focus and they are where the big pay off is.

Next we have the discussions and subsequent pathway resulting from the FDA discussions around Fragile X mid year. Do NOT discount the possibility of BD.

Then we have the stated milestone of commercial manufacturing and scale up.

Of course then the pediatric trial starts for RETTS with results scheduled for the end of the year.

In amongst all this I can't imagine Leerink are just sitting on their hands waiting for Godot. I have stated before and I will say again, I will be very surprised if we don't have a deal tabled before Q4.

The SP is an absolute nonsense, frankly, but is symptomatic of the prevailing sentiment in this market. As Lily so rightly said, the market may not appreciate Neuren's true value, but big. Pharma will.

Keep the faith mate, our days in the sun will come and when they do....