Ann: Lead Antibody Effective in Rare Chronic Kidney Disease, page-5

HI @Ozjin

I don't share your pessimism or was that cynicism (perhaps sarcasm).

rather the formal ratification of the trial through a world class and renowned institution in Westmead hospital will be telegraphed very loudly to those that matter.  Whilst the release confirmed the already known results and hence subdued market response, the real value will be in leveraging the formal results to a potential development suitor post Orphan Drug Designation.

The partially government funded trial was applied to FSGS which is only a small segment of the inflammatory disease applicable to CAB102.  Certainly once FDA approves Orphan Drug Designation, then a much broader focus on CAB102 and it's potential wider application and hence market appeal will be realised.  Note the last paragraph in the release about trial extensions to "other kidney disorders".  This also won't be lost on the relevant audience.

So the path to commercialisation is being realised by our very astute management team to maximise the inherent value in the Lyramid portfolio.  

This is only one small part of the Mk total application as we all know and hence reason why >$9M was recently invested by smarter people than me.

GLTA