Not only that but the EV of Race (i.e. minus cash on hand) is rapidly approaching USD100 million. Further depreciation in the share price and/or AUD will knock it into double digits. Surely there's a point where it becomes attractive for someone to try and pick up the lot. Clinical effectiveness in AML alone should justify the current price, and they could get cardio-protection, FTO, RC220 (plus the other formulation alluded to), and everything else thrown in as a gamble.
Ann: Race Strategic Update August 2023, page-156
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