Ann: 2018 AGM Presentation, page-8

There was an update on the P1 trial. That is a good trend. With so much riding on this trial I think it is warranted. 

• Commenced in June ’18 at Nucleus Network in Melbourne• Several single dose cohorts completed• Multiple dose cohorts have been dosed• Expect to complete study as designed• Plan to report results in 1H ‘19] So some of the single doses are through and they have started the multiple dose. I thought they would be further ahead, but at this stage I guess it must be maximum care of volunteers.

Did you notice on the presentation(posted on Prana's site) that only the Americans are on the presentation. Three ex Teva execs. that is probably a good thing. I assume GK was still in attendance. 

Summary • PBT434 targets α‐synuclein, a biologically important protein implicated in neurodegenerative diseases

• Iron is increased in the brain of patients with target diseases

• PBT434 restores iron balance and blocks the accumulation and aggregation of this protein

• PBT434 has shown clear efficacy in multiple animal models of disease

• Potential indications include the synucleinopathies such as Parkinson’s disease and Multiple System Atrophy

• Phase 1 study commenced June ‘18 and progressing well

• Orphan Drug application for MSA filed with the U.S. FDA

• Key work to support Phase 2 is ongoing

I can't see anything there that should have dropped the price. The trial is on target. That's good. No problems reported, also good. What happened to tauopathies like PSP. Have they dropped it for now and decided on a path to market through MSA? That would also be good. Orphan drug application, also good.