Ann: Further Analysis of Phase 2 PTSD Trial Results Presentation, page-11

As a shareholder I am prettyangry about the way the company has treated shareholders since the initialannouncement on Oct 2 of the PTSD results. I am also amazed thatshareholders haven’t connected the dots on what the announcement means.

 

BNO’s  whole strategy since Oct 2 has been that BNC210didn’t meet the initial CAPs- 5 endpoint therefore we needed to appointment DeSouza as executive chairman, do a capital raise at 15.5 cents and then have astrategic review. This and the poor announcements with no positive news has absolutelytrashed the share price from 52.5 cent (Oct 2) to say 20 cents today.

 

We are now being told

·        that exposure response modelling has shown thepotential for BNC210 to have significant benefit in PTSD provided adequateblood levels are  achieved.

·        Of a statistically significant response(p<0.01) when drug exposure versus response was measure in phase 2 trialdata.

 

A normal person would interpret this as a statement thatBNC210 was a strong potential treatment for PTSD and therefore the clinicaltrial was a significant success.

A treatment for PTSD has huge potential $’s.

Instead of a share price of 20 cents we should be closer to $1.

 

The only possible defence for this situation that the board willuse is that  BNC210 still hasn’t met itsprimary CAPS-5 endpoint.