Ann: Quarterly Activity Report & Appendix 4C, page-44

There are a few negatives if you can ignore the noise in the chamber. There are a lot less than other companies I'll give them that, but not everything is perfect. ie, way more dilution has happened then necessary, trials have been either taken off the table (MRD) or postponed significantly (Nagler 2), majority of the research for the most valuable pillar has been from independent studies to date, major value of the IP was found independently, packages for EDs are "pretty attractive" (IMO), currently at a $500m MC with clinical risk the major factor now (no longer simply undervalued as a Ph2/3 asset), etc...

Highlights of todays announcement was the fact all pre-requisites for the Israel trial are now satisfied - finally! And appointment of Michelle Huh to the team (I hadn't read this prior) - this will help fast track what I see as the valuable safety net to RAC.

IMO, etc