Gimme a break…
When I wrote about PharmAust (ASX:PAA) two weeks ago, I flippantly asked whether the company was going to give a mutt-by-mutt breakdown of their veterinary study of PPL-1. It really pisses me off when companies abuse the continuous disclosure rules to create market hype. It pisses me off even worse when it is done badly.
This week, PAA was “pleased to announce” that its second dog is doing just fine, thank you very much.
Apparently Mitzi Frimberger – or, as her family likes to call her, “Mitz” (undoubtedly a shih zhu-toy poodle cross with a name like that) was dosed with PPL-1 on the 11th of May. She felt a bit poopy on day 1, but by day 2 she was pretty much woofing down her doggy chow again. On day 3, Angela “Angie” Frimberger (no relation) popped a needle into the lateral saphenous vein and took a little blood to check out biomarkers for PharmAust. Mitz wasn’t feeling to crash hot that day and didn’t much like the needle, but the biomarkers were good…
… Oh forget it. I can’t go on with this crass and pathetic attempt at humour. Besides, I briefly cyberstalked Dr. Frimberger and she seems like a really nice person, a great vet, and frankly a bit on the cute side as an added bonus to her excellent professional creds (I am being genuine here, not sarcastic FYI).
On the Long Tail, we don’t pick on vets. Only companies.
My point is this. PAA, we honestly don’t care about the dog-by-dog breakdown of your study. It doesn’t change our perception of the value of your company, the stock price isn’t going to rally, and we’d like you to just quietly finish the study and publish the results, ok? Preferably with some independent data analysis and in a peer-reviewed publication at the end of it.
We’d also prefer it if you didn’t do a few dog studies and then make grand announcements about the probability of your technology transforming human lives (that’s what we run clinical trials in bipedal animals called “people” for). But if you don’t completely irritate the shit out of us by giving a blow-by-blow account of your vet study (and the same bland copy-paste quotes from Roger Aston each time) we might just tolerate a little sprinkling of PR fairy dust at the end of it.
Oh, and Roger, perhaps a refresh of the guidance note for the ASX continuous disclosure rules would be of benefit? Dosing of a dog in an incomplete vet study does not constitute “market sensitive” information. Sorry, but it just doesn’t.
PS: I apologise for the flippant nature of this post, after the last one I needed a bit of a release…
Photo Cred: Michael Albright