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jeddicat, Absolutely, it's not a question of if, but when the requisite filings will be made. Best wishes .

Isn't the 2nd Tranche conditional on the IPO, scheduled within 180 days from admission of the 1st tranche (July 29)? "The Company has further agreed with Vivo Capital and the other US Purchasers to seek to raise a further tranche of funding in the future (“Tranche 2”), expected to be at an aggregate offering size reasonably acceptable to the Company and to the holders of a majority of the Units issued at Tranche 1, coupled with a listing of ADSs on NASDAQ (the “US IPO”)." .

Absolutely, but of greater significance is the additional funding, which would not have been awarded for mediocre progress. DYOR .

Is IPO news imminent? DYOR

A listing would probably be in the form of ADRs, with each ADR being equivalent to a multiple of the AIM shares, for example 1 ADR = 50 AIM shares. There need not be a consolidation. (For fuller details, check out the recent SEC filing over on MTFB, which is also floating on NASDAQ) .

Perhaps, expectation for the NASDAQ IPO update, in the results, did not materialise - the fact that it wasn't even mentioned might indicate a "close period". 180 days from July 29 : 46 days in, and counting. .

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VRP/12963294.html .

" Consistent with previous studies, RPL554 was well tolerated both alone and in combination - No effect on vital signs or ECG parameters - No gastro-intestinal adverse events recorded"

Exemplary pre-IPO appointment: Contacts; Experience; Knowledge. Wouldn't surprise me to have fuller updates provided soon. .

Maybe, "10 August 2016, Cardiff – Verona Pharma plc (AIM: VRP), the drug development company focused on first-in-class medicines to treat respiratory diseases, expects to announce its interim results for the six months ended 30 June 2016 on Tuesday 13 September 2016." .

Re MTFB "We are offering of our ordinary shares in a global offering." https://www.sec.gov/Archives/edgar/data/1674657/000104746916015311/a2229499zf-1a.htm

CNL position fully clarified, plus... " Under the terms of the Consultancy Agreement, which is conditional on Motif listing on NASDAQ, Amphion will provide the services for a minimum term of 12 months for a fee of US $15,500 per month" .

A potential precursor for the IPO? .

If the shares are issued at the then current price there will be no dilution, just more shares in issue. The IPO could actually see the price rising as US investors would be able to purchase directly. "The Company has agreed to use its commercially reasonable efforts to consummate the US IPO as promptly as possible and no later than 180 days following Admission" .

Might there also be NASDAQ discussions, after all, he is in the right place? .

Might these be pre-IPO purchases? .

http://onlinelibrary.wiley.com/doi/10.1002/cpdd.244/pdf

""More research is needed and we're a long way off seeing a pill for asthma being made available over the pharmacy counter, but it's an exciting development." http://www.bbc.co.uk/news/health-36987243

The TR-1s "NOTIFICATION OF MAJOR INTEREST IN SHARES" are in respect of those iis who participated in the placing, with the placing shares being admitted on July 29. As can be seen, several of the iis had no holdings prior to the placing, and this is significant for the proposed NASDAQ IPO imho. .

Absolutely, but isn't the free float in the hundreds-of-millions? .