No idea, Guido. I guess you mean following a successful phase 2...

No idea, Guido.

I guess you mean following a successful phase 2 result. Minimum 10c, but it depends on how good the result is.

The better the result, the more valuable our product will be and more attractive to partners. ftt are already in dialogue with potential partners, so a good result could see some immediate interest from partners.

A good product is easy to sell, as it saves health authorities heaps.

We could even see a market cap of $1b, after a partnership or takeover, if the results are astounding. So what's that, about 25 times the current sp after dilution, so $1.

But Australian investors don't value our biotechs like the US and the UK does. So maybe after a good result a partner would snap us up for $300m or 30c. Still not a bad return.

Again this assumes a great phase 2 result. A great phase 2 result almost completely de-risks the phase 3, which is required for US approval.

All imho.

Cheers