Ann: Appendix 4E and Annual Report 2022, page-14

Not sure why you're hung up on NPAT. If expenses are growing year after year what good is the NPAT figure? I'd be more concerned with EBIT and checking revenues are growing.

For what its worth, if you want to look at how the company is performing relating to increase in patient numbers, then revenues minus 3 quarters of 13% price increase works out at ~21% increase in old money which is around 85-100 patients in FY22. An increase in revenues less than 20% over FY23 could indicate a declining uptake of patients. 100 new patients in a given financial year is considerable no doubt, but I think Clinvuel has prepared itself for this eventuality. The timing of the OTC release is no accident: with no new approved indication forthcoming until at least end of 2024, possibility of waning increases of revenue in approved markets, and China/Australia in the to-do basket, the OTCs fills the void between now and XP approval. Question is: is it going to blow everyone's socks off?