MST valuation of RAC, page-256

If investors in RAC understand:

1. High probability of success - significance of the historic trials in terms of probability of success of Pillars 2 and 3 ( Breast Cancer and AML trials )
2. The baseline value of Pillars 2 and 3 to Big Pharma (in the context of probability shown by #1)
3. The potential stratospheric value of Pillar 1 to Big Pharma (lots of great info has been shared by @Mason14 in this post)
4. That Big Pharma initiate most buyout transactions during Preclinical, Phase 1 or 2
5. That RACE is significantly undervalued to peers in the US
6. The effort that management are putting into getting this right

and then keep buying up and holding stock then there is a stronger probability of a transaction breaching the USD $21B cancer buyout ceiling.

To breach the ceiling as many investors as possible need to do the work to understand the 6 things above.

RAC doesn't need an approval outcome, RAC just needs trial results and/or preclinical results to attract a buyer.