PYC, page-22

When you say we are at a 50% probability and the market gives it under 10%, you need to remember there are currently no PPMO class of drugs approved by the FDA, and no FDA approved class of drugs using a CPP. Maybe the market factors that in.
That's why Sarepta's PPMO late stage clinical trial is so important to us. Fair enough, their CPP is probably inferior and will only just get them over the line but If all goes well for them there could be a PPMO drug approved for DMD within the next 12mths. That would light up interest in the PPMO class and also in CPPs as a drug carrier. And then the market has good reason to focus on PYC's PPMO program and value it to 50%.