Gene therapies take a hit, page-7

Agree our current market value makes no sense; is our IP and pipeline really worth so little?   We currently have a market cap of $A27mil, with Jan19 quarterly report showing cash reserves of $A25mil?   Axovant was impressed enough to pay an up front $US10mil last year; amazing act of faith given it represents more than 30% current value of the company.  Dr Jeral Banks is onboard as Chairman (his only current reported directorship); a world class addition to our biotech Co.  Although Dr Banks started with Benitec as Nants representative, I think he is a true believer; confirmed in my mind by the allocation to him of 10mil options last year at an exercise price of .2278c.  Those options and the granting of them makes no sense unless he sees something in us worth sticking around for; Axovant don't strike me as particularly smart but they must have done an expensive round of due diligence before signing up to what is a very attractive deal (for Benitec), and then there is of course people like myself who are hanging on because we have already lost so much and take comfort in the idea that there are smart people still in the Benitec game- Banks, Nant etc and that represents a slim lifeline of hope.

After a lot of false dawns 2019 is the year where the IP proves itself or I lose what little value my shares still represent.