phase iii trials complete - data awaited, page-16

onfoot

To be honest over the time I have been talking to the company they have had a bet each way - saying that they do not need the Data Pak to begin approaches to possible buyers then on the other hand that you only get one go and credibility is everything in the Bio space so you need all your info before you get serious

I tend to lean toward the former - approaches should be made now based on what they expect the data to show with confirmation supplied when available

The issue (and this is my summation not SC) is that the backroom stuff is not at a point where they have total control of the project. By that I mean in particular the manufacturing - sure they could call the current arrangement with BP null and void due to their inability to supply - this could spark a court case (German Law is way different to ours and it would be probably tried in Germany). Which I would have thought would have any potential buyer of the project saying come back to me when I have a clear road to manufacture. It is my view that EMS would prefer to avoid this and to that end are working diligently toward a solution that suits all parties. Once this has been bedded down they can begin the Trade Sale process - until then we watch the grass grow

Clyde

These are my views only and are not direct statements from management - just wanted to be clear about that