Ann: Leadership Changes and Strategic Review, page-6

hey pj not sure how long you've been following bno but you perhaps know this.

when a trial for 210 for ptsd was originally proposed over 2 years ago it was never setting out to cure ptsd. it was also planned to run over nz and aust patients.

then it got changed to trying to cure ptsd with a bunch of other secondary tests. NZ patients were swapped out with Americans. There are financial incentives for americans to be handicapped - it is not in their best interests to be healed. their military culture is entirely different. there is almost a respect being a handicapped vet. i refuse to believe Deborah didnt know about this and even if it wasnt her idea it was her call.

note that the above was seen in the trial.

her tenure has been a failure. the company is worth penuts. youre correct that she loaded all her eggs into 1 basket.

I think the cap raise is really telling. obviously they need to cover loan repayments but they also must not be seeing a rebound in the share price anytime soon.

The sum of the parts is definitely worth more than the current market cap. management clearly have an inability to achieve value. the best option is to sell everything. my opinion is thats where it's headed. 

when they boot deborah out the door at the end of jan i think thats what the advisers will find.

a new competent ceo will get a hot premium on the current price. it would be the only reason bvf put more money in.