Dirk plugs Benitec!, page-5

I think you'll find Dirk is being sarcastic.

The IPO news is so-so. I'm still getting my head around it ATM.

The big question is what will be the price for 50% of the company and when is the best time to sell it?

As Pannobhaso's blog states "I was not too impressed as there is nothing new in the prospectus. This means that there is a 50% dilution with no new value being identified"

That's correct so to me it does not come across as a very compelling public offer. The prospectus in it's
current form can consequently be viewed by new American investors as a life boat for the company if TT-034 doesn't work in it's current form. So, who would risk buying into that?

However the below statement suggest to me that the board could price this IPO after they "expect to receive efficacy data in the fourth quarter of 2015"

"The amounts and timing of any expenditures may vary from expectations depending upon numerous factors, including the progress of the company's research and development efforts, the progress of its clinical trials and it's operating costs"

If the board wait still after efficacy the ASX price could/should be north of $5 which would result in a NASDAQ listing north of $77 a share and a company that had a very very compelling offer being:

A one-shot cure for HCV together with a new platform technology for treating human diseases etc.