first to a billion?

Excluding the big three, these look like the top biotechs by market capitalisation.

Pharmaxis 580
Sirtex 435
Biota 385
Acrux 340
Cellestis 325
Unilife 290
Universal 280
Chemgenex 270
Mesoblast 245

Someone should run a book on the first one to make it to a billion dollar market capitalisation. I reckon Acrux is in there with a chance. (Outsiders would include Alchemia and Bionomics.)

But my reason for preferring Acrux as an investment is still the breadth and length of its product pipeline. A lot does depend on the Axiron deal, but it's less of a single product company than most of the contenders in this field.