Agree AK on the desire for further independent financial based validation. Just regarding the detail on the Genetech extension - I initially misunderstood the announcement to be that USD2m was paid to get an extra 6 months - I have re-read the announcement based on the NDF research and had a conversation about it and realised that the 2m was an actual milestone payment but that PYC granted an extension of 6 months exclusivity to the whole timetable. I believe this was considered mutually beneficial. The bad of this is that we still don't know the actual timetable (we never did) except that there is an extra 6 months on it - this could just mean that it goes non exclusive from next week or that the the whole porgram gets pushed back. On a good note - based on my previous conversation with RH about the 'rough guess on how the quantum of milestones sequence' we know the next payment is closer to $5-10m than 2m - just don't know when . . .
If they sign any sort of deal in the next 12 months with an upfront and that milestone comes off there will be a lot of cash to increase the shots on goal.
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