Tend not to think Cap, as money Okish as BPO won't be producing AP3778, they will licence formula(s) - but they are applying for development grant. I favor they may have got the $1 for $1 R&D grant - ie they R&D double the coffers (if so even less likley to need Cap). 3c-4c-5c in the short term, who'll care in a year or two.