I'd agree with you on that, and I think Jon was probably hedging his bets because they don't know what the result of the Sept FDA meeting will be.
For example, $50-$100m is a large range for something I expect Neuren has put alot of detailed planning into already. I suspect the uncertainty doesn't so much reflect they don't know the costs accurately, but rather it represents the wide range of scenarios they think they might get from the FDA.
Who knows, if they get a good FDA meeting Jon may come back and say it's just $50m now per Ph 3
(20min delay)