We have actual progress on the midkine antibody front. I like...

We have actual progress on the midkine antibody front.

I like the fact that CDY is working with 3 Governments to further the kidney disease program. This means that a lot of the money to progress the program won't need to come from shareholder pockets. Of equal importance the FDA's accelerated approval process is "relatively" short. While I can't guarantee the timeline it may be reasonable to expect IND approval by the end of this financial year.

We all know that CDY's lead antibody for kidney disease works because we have been following multiple preclinical and animal models for many years now. The result is always the same and has now essentially been confirmed by the Westmead Institute.

Once IND status is obtained I expect actual clinical trials to follow …… I guess either in Australia or South Korea or both (it doesn't matter which).

Medicos are fairly good at measuring and tracking kidney function and it is my full expectation that if the midkine antibody stops Focal Segmental Glomerulosclerosis in its tracks we will (indicatively) know about it maybe 3 months after the first patients are enrolled. The full trial duration is of course longer but the first signs of actual efficacy is something markets like to get excited about.

While it is hard to convey how undervalued CDY is at the moment (and be listened to) the share price will respond to successful milestones of IND approval, initial patient enrolment and indicative first results . Predicting share prices from a very cloudy crystal ball is always fraught with risk but expectation of a $100m + market cap would be entirely reasonable on good initial news regarding efficacy. That alone is multiples of where we are now.

In the meantime the hair products division is making reasonable progress on sales. The market will respond when actual revenue from China becomes tangible.

cheers