targets, page-5

A long time ago HA Irinotecan was said to be worth $200m a year in profit to acl if successful. If one puts a p/e of 20 to that, then that's $4b (or around $12 a share).

However if HA Irinotecan is used as a first line treatment, then it'll be worth more.

BUT..... HA Irinotecan is just one drug from the HyACT platform. So a p/e higher than 20 could (or should) be used.

I would suggest that $200m a year profit is probably too high an expectation, but then a p/e of 20 is too low. So maybe $12 a share is a fair value (if successful and when the money starts rolling in).

I've held acl a long time and HyACT has always been our possible golden goose. I certainly won't be selling for a long time (although I'm free carried so that makes it easier).

cheers