Nah I would disagree with this for sure.It's because of...

Nah I would disagree with this for sure.

It's because of management's use of capital that we have managed to progress so far.


There simply has been NO Aussie company that has progressed ANY drug this far in the inflammatory space for the enormous markets of USA and Europe simultaneously.

Most drugs fail by end of P2. We progress.


Due to PAR's incredible foresight we have not only a 008 DM program but we have adapted it MIDSTREAM.

My capital...your capital has been used to do this. Without it we wouldn't have structural MRI's showing that JSW has changed...not over 4 years...but in 128 days. Who else, without spending money, could've shown FASTER regression of BMELS. I don't have to tell you the link between these and pain and OA progression. (Maybe I do).

Without spending of capital we couldn't have shown meaningful pain reduction, function improvement and disappearing of OSteocytes. We wouldn't have helped some 82% of SAS patients...800 or so. The footballers? What about their stories?



We have shown that wet biochemical markers have changed and the course of the disease is halted. Am i making up stuff about getting KOL's, world leaders in the space on board?

This was impossible if the stewardship failed.


Now I'm not saying for a second that there were things we could've avoided and that elements of the program took longer (so much longer in cases) than was thought of. In hindsight sure, you are right Tanami, we could've avoided a number of things...money might have been better spent and maybe just maybe a small regional teeny tiny deal could've been better for us now...but maybe just maybe it wasn't? We won't know this till we plough along and then can look back and make a determination in a few years time?



But I still believe that where we are today is amazing, on balance.

Yes I also agree that people with much shorter timelines are going to be and are bitterly disappointed. No doubt.

I also know that there are longer term entities and individuals that know much better and have even more sticking ability than some of the most stubborn barnacles on my pal's propellers on his boat.


Hard for some to believe but there are some incredible positives here that have happened and are happening as we speak.

Not saying there is no risk

Not saying there isn't a heightened risk as we drawn down on cash.

But there is a positive side to this once in a lifetime story.

My thoughts.



PS: 008 is a massive program with thousands of data points...it is NOT a surprise that it has taken this long to compile and present it