Indeed but remember that we are seeking US instos and brokers.
As per my reddit post, you need to understand that US values biotech very differently to the ASX.
And throw psychedelics in there? Mickey and others have talked about the ever growing development there and how the US is all over it.
The US valuations are monstrous, I dont see us at 1B MC yet but I am sure they will see us there if not more especially if we come through on human trial results on OSA.
Wont reiterate but in my reddit post I made a comparison to 3 US companies, Compass, Mindmed and CARA Therapeutics. All around $1B+ USD MC.
Do the math.... Incredibly smart from the BOD to seek US listing and US Coverage. Aussies wont get it and Aussie analysts may not either. Very very smart move by the BOD.