2020 The Year Of RAP, page-456

If we get knocked back by the FDA on the fundamentals of the application, then I would expect 7c again like before. While it's true that Resapp has a stronger product/approval position than it had in 2017, the key FDA-related issue is how much hard work and design and control and management went into getting the trial results we got the second time around. It's pretty certain that no matter what we do we're unlikely to get anything significantly better out of a US medical trial. Therefore if the FDA knock us back a second time it's going to be hard to imagine how we could possibly hope to get approval any time soon. I would think we could be looking at three to five years for a successful third try. That's going to knock a serious hole in our commercialisation plans!

So, like I wrote at the start, I would expect similar action to 2017: 7c with a slow climb to stability around 10c, then small increments on other positive news to maybe 20c-25c over the course of two years or so.

If it happens, I will be looking for a break-even exit.