As most of us already know that the preliminary results of a pivotal European Phase III trial of the BTG's greatest star VARISOLVE were positive.

- Overall response rate in patients (435 patients) treated with VARISOLVE was 83.4%, in line with expectations.
- Established that VARISOLVE is similar in efficacy to conventional treatments (sclerotherapy or surgery) in the treatment of moderate to severe varicose veins.
- The winning factor is that both physicians and patients would welcome this rapid, virtually painless, treatment for varicose veins.

But, the Varisolve US Phase II safety study has been put on clinical hold by FDA, continue to worry investors for about a month now since its announcement. Consequently shares oversold till today. This could be long enough and is an investment opportunity worth monitoring. Any spark of hope could easily double the share price. Base on the assumption that Varisolve may not survive the trails despite additional costs and efforts to do additional tests to accumulate enough proves and statistics or to improve their procedures, which is unlikely although sources suggest that the clinical Hold is more likely to cause a delay of 1-2 years to its commercialisation date, the net current asset value of the company alone is estimated to be around 190 – 250 (consensus from various analyst), excluding any contribution from Varisolve US and Europe. Note that BTG total revenues increased by 35% to 19.1 million (2002: 14.2 million). Investors will bet on the company’s ability to generate enough cash to carry Varisolve through till its commercialisation, which is estimated to be 2005/6/7 in EU and 2007/8/9 US. With institutional investments from Deutsche Bank AG (More than 11%), Amvescap PLC (More than 26%), Bank of New York Europe Limited and many more…, the risk may still remain significant, but definitely one to keep close to your screen. Remember that they have many more high potential projects on parallel development. Opportunity like this don't come often.

Investors are expecting BTG to clarified their strategy and plan to overcome their challenges associated with Varisolve by early 2004. The next important date will be in early February 2004 which may be an opportunity for them to inspire some confidence (2nd Annual BioPartnering North America).

My opinion : Now is the time to get in!!!

Price is rising fast, now 164 up 2%

price now 165.5

The news below was announced AFTER its share price crashed when US Varisolve clinical trial was put on hold. The deal with Gentronix Ltd should have added substantial value to its share price. There many justifications to show that the share price is substantially undervalued even before the announcement. Recent trend shows that the market is making a upward correction. The news below is about BTG's agreement with Gentronix. Its a big share of pie to market a product with a proven market of 1.5 billion pounds in 2002 and could save drug development companies as much as 180 million a year. This is certainly hard to overlook. The drug market has been on rapid expansion ever since plans to determine the complete human genome sequence by an international consortium was outlined during 1995 and was successfully completed in 2000. This simply means that there are huge unexploite markets out there, just like when a computer was invented. It could be even larger! The news below was taken from BTG:

London, UK, December 17, 2003 BTG (LSE: BGC), the global technology commercialisation company, announced today an exclusive three-year Marketing Agency Agreement with Gentronix Ltd (Manchester, UK). Gentronix, a spin off from the University of Manchester Institute of Science and Technology (UMIST), was founded to develop and commercialise a genotoxicity testing platform devised by Dr Richard Walmsley (founder and Chief Scientific Officer of Gentronix). Under the terms of the agreement, BTG and Gentronix executives will work closely to promote and establish sales of Gentronixs proprietary genotoxicity testing product, GreenScreen.

GreenScreen is a yeast cell-based assay in which any genetic damage in the test cells caused by drug exposure results in an increased emission of green fluorescence from the cell in question. Genetic damage to the DNA in chromosomes is an important contributory factor in all forms of cancer and may also cause other diseases by changing the activity of genes. If a compound under test is not capable of causing genetic damage in the test cells, no increase in fluorescence is detected in the Gentronix system. GreenScreen is already being deployed in some companies, including J&J Pharmaceutical Research & Development, Belgium, where it has been used to predict the performance of prospective drugs in (more costly) standard tests required by regulatory authorities around the world.

Recent reports put the cost of bringing a new drug to the market at about 500 million, with some 160 million of this covering pre-clinical development costs. It is widely recognised that safety (toxicity) aspects or metabolic changes associated with drug candidates account for between 30 and 70 per cent of their failure rate in trials. Thus, testing drug candidates for their toxic potential (and susceptibility to metabolic change) is an important stage in the early phase of drug development, which resulted in a 1.5 billion spend across the pharmaceutical industry in 2002. It is estimated that a modest 12 per cent improvement in the weeding out of compounds with the potential for deleterious side-effects through toxic or adverse metabolic interactions could save companies as much as 180 million a year.

GreenScreen is presently under evaluation by several groups in the pharmaceutical industry. Due to its ease of use, low compound consumption, reliability, speed, low cost, and proven value in accurately predicting troublesome compounds (with over 2000 compounds tested to date), GreenScreen is providing an early-warning system for compounds which may have undesirable genotoxic properties. GreenScreen is being positioned as a medium throughput testing platform, which complements other drug development test systems aimed specifically at metabolic predictions.

GreenScreen has been developed to address a major bottleneck in drug profiling at the early stage of pharmaceutical development, said Peter McCulloch, CEO of Gentronix. By providing an economical, quick and simple test which can be run on commercially available fluorescence detection instrumentation, we believe GreenScreen will help accelerate the prioritisation of candidate selection at a crucially early stage.

Dr Mike Murray, Associate Vice President of BTG's BioPharmaceuticals Business Unit, commented "BTG's interest in working with Gentronix stems from the robustness and proven utility of the GreenScreen system. It is great to add such a powerful technology that has a natural fit with other drug development technologies in our rapidly expanding portfolio. BTG will promote the system through its executives based in the UK, Europe, US, Canada and Japan, which alongside Gentronix's expanding executive team, will ensure a truly worldwide commercial presence for the technology."

Would like to hear your point of view. Cheers!

BTG's chart seems to generate a recovery profile. You might want to have a look.

price now 167.25 up 6% since recommendation. Get in while its cheap!!!

170.25 now. On track for a good recovery.

171.25 now and its mid Jan. 2nd Annual BioPartnering North America is in early Feb.

168.25 now. Anything below 200 is still a bargain.

cpeck, I hold 10k of these at ave 360p. i can't afford to buy more and i can't afford not to!

highinterest - Feel extremely sorry for those like you who owned at 3.50p plus when they lost 60% in a day, what can you do when they drop so fast. Hope you get your mony back - good luck.

thanks dosh. I still feel optimistic [that's a name for what you feel before you really understand the situation] about the outcome and I do still add when I get liquidity, but I am pouring more into pxc and fto at the moment.
The worst of my bgc crisis came when my broker phoned me on black friday and informed me that he had 'managed' to place my limit order for 7500 at 370p whilst they were falling! By this time they had fallen to 160 and he was advising me to sell as it was a 'very risky play'. When I did sell it cost me a lot of money. He says he acted in good faith and there was no way he could have known he was catching a falling sword. I was in meetings all day so he could not contact me.
We are currently in the ombudsman's hands.

highinterest - Hope it works out for you, I bought into pipex yesterday, looks like a good share for 2004. Hopefully you can recoup some money on this.

It has been a steady riser since I bought last week looks like the recovery is underway.

thx dosh. been stocking them both for some time and already well up on both - touch wood. agree with you apple; seems as though the recovery might be getting under way here. just a few small shoots of spring perhaps?
good weekend all

Highinterest. It really depends on your risk appetite. Its share price seems to have stablised and hence drop in volatility. The market is well informed and the current price correction is there for a good reason. Good luck!!

Alert for bargain hunters, again!!! This price will not stay long 156.00.

157.75 now

I was in at 1.56

Price now 159.25.

160 now

160.75 now

162 now

Dropping like mad, surely it worth more than 1.35 p/s. Have missed anything news etc..

Still plummetting. There must be something out there that I don't know? Doesn't seem to be anything on the news updates though - anybody any ideas?

there is no news bignose - investor relations told me yesterday that an announcemnet made very soon and will cover all outstanding issues. This share is seriously undervalued and even if it falls more it will be an opportunity to top up. hsbc estimates value without varisolve at 2oop adn 70p for europe varisolve. What is happening is that we have fallen below the trend line and a lot of small peeps have panicked, but I suspect it was the ones who bought on black friday at 150p.
I am still buying this but i am very long term holder. happy to sit for ten years if necessary.

The trouble with BTG (bgc) is that Management has been quietly snoozing, or should that be snoozing quietly?
They have a vast number of Patents and staff looking after them, yet days, weeks, months and years(?) go by without any churning over of progress reports etc.
If we take Varisolve out of the picture their next "bigie" is probably that rf tagging technology - aimed at anti-counterfeiting goods and distribution in wharehouses ( etc.) - this technology looks to be the next big thing for commerce, now that they've got as many CCTV as needed - even in the lifts!
Yet BAA still finds it difficult to stop van-loads of gold (cash?) leaving Heathrow Airport, whilst we the paying public have to queue-up and have our nailfiles removed in case we are terrorists. Clearly there is a need for better Airport security ( for Need read "essential need") as it apears to be open-season on airplanes and hangers etc.
Is it not possible that this RF tagging scheme could be used to identify persons allowed onto the Airport site?.I suggest badges are in two parts one that is retained for identification "off-site" and another that matches it when on-site (issued at any guarded entrance) tus as the worker moves through the site two signals will be present: 1)their personal tag and 2) their daily permit - the computer "instantly" checks the personal and permits and so should be able to "know" that at the point of entry the Authorised person was present.
Monitoring on site should show up any "unusual " movements/journeys etc.

Yet BTG remains silent on this rf technology - quieter than on the next chapter of Varisolve - but don't hold your breath - it's not going to be good news - we know it's delayed - it's a battle-scarred tortoise that's crawled onto a mine - the question is: when it crawls off, will the explosion push it further forward or will it become a terminal case?

I'm a holder of BTG from lower prices, shortly to be re-visited I suspect, oh dear.

Highinterest - you sound like a believer! I'm in between thinking it is too good an opportunity to miss at this level and thinking it could go a lot lower (as hangon said).

I've been watching them for ages and I've seen them a lot lower, they just don't have the confidence of the market. They seem to have plenty of interesting possibilities and theoretically the sky is the limit but the ongoing lack of profits, it still feels very 'internet boom - like' - no visible means of support. Am I being unduly pessimistic?

It needs to fall some more before I am tempted.

i've heard that the european regulators want the same tests as the fda and this will delay launch by two years. we're all queered if it's true. 70p here we come!

The shorters are loving this 1

Well highinterest was right in a way about 70p

RNS Number:3180V
BTG PLC
12 February 2004


12 February 2004

For immediate release

This announcement is not for release, distribution or publication, directly or
indirectly, in whole or in part, in or into the United States, Australia,Canada
or Japan. This announcement is not an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States. The shares in BTG plc (the Shares) and the rights to subscribe for the Shares (the Rights)may not be offered or sold, directly or indirectly, in or into the United States unless registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or pursuant to an exemption from registration. Neither the Rights nor the Shares have been, nor will be, registered under the Securities Act. Accordingly, subject to certain exceptions, none of the Shares or the Rights may be offered, sold, resold, delivered, taken up, transferred or
renounced, directly or indirectly, in or into the United States or, in or into
any other jurisdiction outside the United Kingdom. Any offer of the Rights or
the Shares will be made solely by means of the prospectus published in
connection with the offering. There will be no public offering of securities
into the United States.

12 February 2004


BTG plc ("BTG")

PROPOSED 2 FOR 5 RIGHTS ISSUE OF UP TO 42,165,208 RIGHTS ISSUE SHARES AT 70
PENCE PER SHARE

PROPOSED PROGRAMME FOR CONTINUED DEVELOPMENT OF VARISOLVE(R)

BTG plc, the international technology commercialisation company, provides an
update on its plans for its wholly-owned subsidiary, Provensis, in developing
its Varisolve(R) product, and announces that it intends to raise approximately
#26.7 million, net of expenses, by way of a 2 for 5 rights issue of up to
42,165,208 new ordinary shares at a price of 70 pence per share.

The funds will be applied in supporting Provensis to further in develop
Varisolve(R), an innovative product for the treatment of varicose veins. The
funds are intended to support Provensis until March 2005 to achieve the
following:

* progress clinical and regulatory development (#5.2 million)

* progress manufacturing and product development (#13.8 million)

* maintain Provensis' operations (#7.7million)

The Directors have set a financial objective for BTG to become profitable
(excluding Provensis) in the financial year ending March 2006; the Directors
believe that BTG's current resources should be sufficient to fund BTG's business (excluding Provensis) until that time.

Blimey, Seen them today? +20% and still going.. So I was wrong!

Temporary rise IMHO

Take profits.

I recon it will go back to 1.60s again and stablise

Torotrak PLC
27 February 2004

Torotrak plc

Notification of interest in shares




On 26 February the company was informed that the holding of BTG plc in Torotrak
plc has fallen below 3%. Consequently BTG plc no longer has a disclosable
interest in the ordinary share capital of the company.

Has the price dropped because of the rights issue? Anyone

More than 10% down today, why?

Look out, it may drop AGAIN tomorrow!

BAD NEWS, BTG is going to court against Microsoft for Patent Infringement.

20/07/04 18:13 Re: Litigation (2) RNS

UP 24.48%

WHY???????????????

Possible due to results soon!

WE know why the share have risen, it was no more than expectation of News.
That news is done and there is nothing of substance to Report or Infer. If the young lady had been Matron at a cutting-edge varicose-vein (treatment) Hospital it would make sense to have some additional weight supporting any interaction between the approved Varisolve product and patients. She isn't! 'cause it's not ready - and won't be for more than a year.
Rather she was (see RNS)recently involved in one dull British Company taking over another British Company (parts of) and those two companies were: BAE and Marconi. We know what happened to Marconi (and She should be grateful she was working for the Other one = was that luck? - Let's call it skill.)

I don't see this as an important appointment as far as investors are concerned and Varisolve. However, if they move her to oversee what's going on in the factory + trials, then at last someone with primary-dedication is being involved from Board level. Board-level attention should have been present before the Trials went pear-shaped due to the FDA bungle - what else can I call it? (FDA approved the trials and then FDA stopped them, in a messy "NIH" -or one of its near-relatives, looks to me).
I hold BTG and am still waiting for their return to former Glory arround the 6 mark = some time methinks. The recent fundraising hardly affected my average, but should keep BTG funded whilst they paint the inside of the Director's suite at the factory (Management Block) - the Varisolve Factory is in North Wales, as you know, and the MB (sch--!) is just off Park Lane, Somewhere.Ho!

The FDA situation is NOT resolved and it looks like we shall have to wait another six months ( somewhere in 2005 ). The organisation round BTG's foremose source of wealth is below par IMHO. We witnessed the first problem about a year ago when FDA pulled the plug - yet no-one at BTG was sufficiently close to the FDA to realise anything was wrong. Maybe we could forgive them as much of the fault lay with the FDA.
However, now history is repeating itself - no news for months then BANG - and it's bad. I think BTG owes investors an explanation ( having securred a Fund-raising to cover the Provensis costs to market ) - are we about to witness a further passing of the Begging-Bowl?
x
It's about time management realised that having someone senior (and already paid-for!) is "Good Management" - endless rounds of visiting City haunts may be good for their ego, but I expect well-paid Directors to know what's happening before I do. Since they made no announcement before this RNS, it is clear they knew nothing.
x
Now one wonders what BTG are doing to cover themselves should the FDA rule against Varisolve? It is high time the several thousand patients that have been treated were investigated - to see if they are any worse (and their options of the treatment, etc which they paid for ) - than an equal number of varicose-vein (conventional) treated patients.
x
If you have varicose veins and want a cure, if the product works, you really don't care about the FDA - & don't really know how they managed to get themselves into the original situation and frankly this worry over bubbles is pretty unlikely to be a real problem. Otherwise earlier patients would still be floating on the ceiling and complaining they were light-headed. The other explanation of course is that the FDA was nobbled (nay a hundred times!) for without any explanations, how can a trial go from forward to stop? I have read no explanation...so either FDA is hiding something OR BTG was (and maybe is, still) - but on blance, whilst BTG may be inattentive I would suspect they are not incompetant whereas FDA has so many aspects to consider and influences to balance it's just possible one got out of control. We may never know.
x
I note that BTG shares are being bought, still. Let's hope the trust is not misplaced. As a [BGC] holder it would be nice to hear regular updates and a parallel plan for Europe and the UK - waiting for the FDA should not delay other markets.
Regards

Maybe we have a situation where some good news will happen well before anything Bad. Punters would do well to note that at its peak this share was 18 - and even if you remove the peak that leaves some support at nearly 10 - and this was assuming Varisolve would happen.
Well, now it may well! Whenever the Co. reports, a review by the FDA (in US) is bound to cause some excitement here. If it really does get approval, expect a severe case of lunacy! People will be elbowing their way to the phone to get to their broker, let alone worry about the sp. - Now, provided the shares are still below (let's say 5), then you are still better-off than in those distant days when 10 was nearer the norm.
Only time will tell, if Varisolve takes off and profits will flow - but they are not going to be massive - but if the World takes to Varisolve rather than a rival (oops did I say...?) then profits for Varisolve should represent good value at 4-5 if earlier valuations were nearly correct.
Anything near 10 is probably "too high" (until figures are known, etc) so I'd sell at 10 - but will I have the nerve to stay the course to those levels?
Time will tell, but Volume is Up - so someone knows something. (or not?)
Regards as a holder.

Really good News today - FDA go-Ahead.

SP hits 2.25 and falls back on profit taking just a tad.

Looks like those who held-back waiting for news had better bite the bullet.
Yippee and their agm is quite soon.............good news all round.

Friday July 15, 03:40 PM

Varisolve trials given FDA go-ahead

The FDA has given the green light to Provensis, a subsidiary of UK company BTG (LSE: BGC.L - news) , to resume phase II US clinical trials of Varisolve, a non-invasive treatment for varicose veins.

The FDA has given the green light to Provensis, a subsidiary of UK company BTG, to resume phase II US clinical trials of Varisolve, a non-invasive treatment for varicose veins.

The FDA intervened in 2003 to stop trials of Varisolve amid fears that the treatment could increase the risk of embolism in patients.


In March 2005, Provensis submitted data from a one-year program of preclinical studies aimed at enabling resumption of Varisolve's US development, together with the protocol for a proposed phase II clinical study. The FDA requested amendments to the protocol, which were submitted in May 2005. Following review of the amended submission, the FDA has lifted the hold on conducting clinical trials with Varisolve in the US and approved the phase II study protocol.

Louise Makin, CEO of BTG, commented: "We are very pleased that the US clinical development of Varisolve can resume. Now that the pathway for further regulatory development in the US is clear, we look forward to progressing discussions to secure a global development and commercialization partner for Varisolve."

A small development which might have contributed to today's strength and volumes:

Genzyme/Schering Campath Phase II trial update

There's a bit about Campath in the following BTG pdf (page 4):

BTG May 2005 update - see Campath piece

The above Campath news is also released on the UK exchange after midday Monday (today) and causes a 15p spike despite it being public knowledge on Friday in the US.

Campath RNS

Interims due 10th November.

5 Oct22005
Feeling pretty confident in BTG as they say all is "steady as she goes" - they have settled some Patent disputes: the hip-joint issue has resulted in a licensing deal with "Zimmer frame" and we cqn expect a regular royalty payment (as well as a 1-off payment for infringing). The web-click issues looks to be gaining legal strength, although the likes of Y****o are yet to make a move. There is no news on Varisolve, but we don't expect any, do we?
These cash deals on their Patents look like good funding, so we may find investors don't need to be asked again. (hope-so)
The sp has risen about 2x (ie 100%) from recent steady-state just under 1 and those that bought-in then will be sitting on a possible turn (as I do) so it's time to ask:
"Is this stock getting better?"
Personally I think (market moves excepted) there is much* further to go - so expect a sp over 3 before this time next year. That's not too long to wait, is it. If anyone can suggest another stock that's this good, let me know and I may split my risk - it is a bad thing to be very much into one stock, but I think this one has the best chance and all the Stockmarket is a risk. Maybe the likes of Lloyds is safer, and has the benefit of a decent yield. If there is any takeover speculation then that sp will rise another 1 I guess, but that's only 25% whereas another 1 on BTG is 50% and I think BTG is likely to win through before LLoyds is taken-over.
/
That's all folks.....but let me know of alternatives, this good.

* I have to add caution the much more is dependent upon Varisolve and FDA approval......we have to hope this happens as there is little more that can be done - for my money that treatment is a winner and I can see it commanding a premium price, . . . . . . . I just hope BTG realises the potential ........and doesn't sell it short, byalways retaining the right to marrket it itself ...if revenues falter...etc.

Well! recent (quick) fall from over 2 has caused some small selling - many small sales this week as the sp fell towards 1.70 - yet Tuesday (today) I see 4x 20k-ish Buys - all together. It may be random chance, but it looks like One buyer to me.....FWIW.....and 80k is serious money in anyone's pocket.
/
I just don't know....sometimes I feel Management is keeping all the Good News to themselves......but I suspect that there is NO good news....... and they continue to move away from technology towards Bio/Pharma.
/
I'm holding on for now, but it sure looks a difficult call; even with that 80k making the sp movement today about "evens" - is there some News about to surface?
/
A-A-Arggggggggggh.

I just don't get why so many small sales have gone through this week - it's after the tax-year deadline - so could this be small holders in one of their subsidary businesses? We'll just have to wait.
Any views? - even though this isn't a popular share these days.......Anyone amongst the Sellers say "why"?

I think this share has lost its gloss (due to the Varisolve debacle) and although the restarting the sp has only reached a fundamental fair-value (I still hold).
However, I see BTG isn't focussed ONLY on Varisolve, they have manged to move Market-eyes from the one product to the cash position and income, sale of patents etc.
This is a wise move and means that any shocks in the future should have less impact. I can't say I'm over the moon about the delay in Varisolve, but guess we just have to accept it as a "maybe-later" aid to riches.
I am tempted to top-slice having taken a gamble on BGC at 93p, but I expect the results, later in May06, will provide some strength and then I'll review the position. Because of earlier purchases my av. is 2+........and this crashed in the dot-com fall........so, quite lucky, really.

[[Oil-stocks are high-enough IMHO and a sudden shock could be bad-news - such as a Europe-wide ban on cheap flights.
It is well-time that the masses were prevented from poluting the air. This might help preserve UK holiday resort jobs as a bonus whilst staying green. We do need to sort-out mass transport, the likes of rail and integrated bus transport, so folks can be mobile without a car.
Only long journeys to cities are really cost-effective by rail - it needs to be changed, IMHO.]]

The Market doesn't like this shall-we shan't we situation with Varisolve and some even wonder if it will be a profitable exercise.
However, much of the money is already spent - so that's an end to it...and this new set of trials is a pain, but perhaps I just didn't understand "where" the trials were....getting aproval is a route to the loot...and with BTG havoing enough money I'm surprised they even considered having a partner.......to share the profits....for a miserable share in the trials (rumoured to cost 5 million USD) - - So unless BTG has something better to spend its 50/60 million on - - - better put it to good use in the strong hope of a return. The when it has aproval, sell it to the US for whatever the Market will stand - probably double what's currently on offer.(for varicose veins).....it's a popular market although hardly life-threatenung; it has a large-number of patients each year.
/
However, all this rides on the truth being there is a huge $ market (and we get approval)...so fingers crossed - the falls have been a bit worrying, but not so much we have to act....something about being invested ...is better than NOT being invested?

I am wondering whether to top-up, sell, or maybe just hold and wait. Dunno......anyone?

Well it may be I held too long, this week, I've just sold my entire ISA holding (in BTG) as I can't afford to watch a profit dry up. The war in Iraq and the new war in Lebanon just don't look good for financial markets.
Varisolve is some way off so I'm hoping the market will be less interested in BTG as a result....it is unfortunate that investors focus on the one Big product - but that's more-or-less what I'm focussed on so it's the same.
I may buy-in if the story improves.

Ah, what to do?
BTG sp has gone off like a rocket just after Dirs smeared themselves with Options.
Well, the fact is that there can't be any good news round the corner (ie already known or anticipated by Dirs)- otherwise they'd have to say and their Option-pricing would increase accordingly......the sp rise beforehand was due IMHO to MM's knowing the Dirs were about to buy... and buying at any price.
However, the Market is selling BGC stock - almost every day we see records of Trades that would suggest there are plenty of Sellers at current prices - yet the MM's continue to push up prices.
Well, for the time-being I'm not convinced that my ISA should be stuffed with this stock - I fear there is yet to be a correction in advance of any news (please!) on a Partner for Vs......why is no-one interested (ie US-Pharma Distributors), I wonder?

Good interims today
next year could be sweet

Good results today from European phase III Varisolve trial.
This may help with partnering negotiations, and with more news from BTG's R&D pipeline on the horizon the next few months could spark the SP.

Late Feb 2007
- Seems BTG's prostate product is up to expectations - - yet the sp is not recognising this - - - probably we are too concerned with Varisolve which is in "Quiet season" this year also.....

-Still, it looks like the BTG-pipeline is alive and well.
Early-days for this treatment, but encouraging that Management have turned this company into a discovery and exploiation co. (the discovery bit being relatively easy.). Vs is "no-news" which is to be expected....
Ah well, wait a bit longer - - -