Yeah, it seems absolutely insane that they are 6 months late starting this trial, with not a single update.
The whole point of Indonesia was that it was quick, wasn't it?!
And even if they do generate "revenue" in 2H CY26, what do people think that revenue will be for a tropical DFI/ABSSSI treatment? My rather sophisticated modeling predicts USD$2m rev after 5 years assuming >25% penetration and needing two tubes of pixie gel per case.
A generous P/S ratio of 10 says their market cap should be about $30m...
'Critical step': Go for Recce's Phase III trials after banking $15.8M in capital raise, page-22
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