Going by Aussie-only results, acne would seem the most promising, and obviously has the largest potential market, but I'm not convinced BOT have ever really determined precisely what went wrong in the US (plenty of speculation and suggestion though), so maybe they'll be hesitant to run with that first?
Certainly 1801 had very promising results and very little (read 'no') competition, but a lot smaller in predicted sales opportunities. Not sure of the costs for associated trials as it will involved hospital patients only.
Dare I say something 'boring' like Rosacea may be the most practical option to proceed with first up. Relatively cost-efficient (people going to their doctor), sizeable market, and excellent results from Phase 1b/2.
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