It's hard to imagine initiating a multi-million dollar phase 2...

It's hard to imagine initiating a multi-million dollar phase 2 trial and NOT getting the interim data as it becomes available. As mentioned already, you'd be locked in and unable to course-correct or pull the pin if it was going poorly. As long as the data is only flowing back to BOT at the completion of each 12 week round, I can't see any reason why the integrity of a double-blinded trial would be compromised, with BOT still at arms-length from the actual administration?

Based on what we saw at 1503 phase 1b stage, and as Beefarmer noted a while back, BOT's modus operandi to date seems to be based on sending a series of 'signals' to the market to allude to trial progression (the recent channel 7 feature is a case in point). While we may see a 'general' announcement on trial progress at some point with high level comments along the lines of 'things are going well, we are happy with progress so far', I don't have an expectation of seeing any hard data before the end of the trial mid-next year (though I expect them to have an internal data report to initiate commercial discussions, which can take months to progress, so we are as advanced as possible when final Ph2 results are revealed next year). Watch for the signs.

The new superbug product line is interesting. We are expecting to see news this quarter. From what I can piece-together, they might look to take on resistant 'Golden Staph' initially (my guess only), which we all know is a massive problem, but it's hard to find specific market data on $ size of opportunity. Let's not forget the players in this space include GSK, Johnson & Johnson, Merck & Co., Novartis, Pfizer and Sanofi (remind me who our new CMO previously worked for? :>.  Mainstream media love a 'superbug' story, so we should see some significant news coverage and PR for BOT if handled correctly. Interesting article on Sanofi here.

In times like these I think about the market potential for 1503, 1204, 1308, and now 1801... And then I remember that old Guns N Roses tune .. "all we need is just a little ...... "