Ann: Pivalate educational webinar 14 June 2023, page-14

Multiple Undervalued Pipeline Assets Advancing Rapidly Into and Through the Clinic

And, the Price target is purely based on revenue from Pivalate RAD 101. Plenty of upside with the rest of the pipeline.

"Importantly, our current price target only includes revenueestimates from RAD101. At this time, we are leaving the remainder of thepipeline as sources of potential upside for investors. As clinical data accrues forthese assets, however, we expect opportunities to provide deeper market modelanalyses and more clarity on how we quantify their potential. We reiterate ourBuy rating and A$0.75 price target. "