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Once the MC gets into the $300 to 500m range, then a US float is a viable option and with some strategic analyst coverage, the SP could do all sorts of things in multiples that are not typically possible with Biotechs on the ASX.

The US investor is far more open-minded when it comes to Biotech stocks than Aussie investors.

Dual listing for the first few years (at least) would show some respect to long term Aussie holders.