You are absolutely correct on the Bell potter report .It is not worth the paper it is written on.The analyst has waited a week saw the trading and then worked out (guessed)a valuation figure and worked backwards on what the assumptions needed to be to justify her guess.Leaving out the valuation for the rest of the world is just staggering .Unfortunately this is the quality of some of the biotech analysts in Australia .In my opinion this company on the Nasdaq would be worth $500 mill plus so there is a real chance that this company will be stolen from Australian and New Zealanders for well below market value.
Ann: Change of Director's Interest Notice, page-64
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