Ann: CSL Notice of Research & Development Investor Briefing, page-17

Apologies, the CSL112 phase 3 trial results are not expected until Q1 CY2024, with the study fininshing late CY23.

Any $400 catalyst would be around then one would think.

And for what its worth, I read today Goldman assigned a risk adjusted value for CSL112 of 15%, up from 10% previously given some futility studies have been passed, but still very low probability of success.

From memory this opinon of low chance is due to the clinical area and past attempts by other companies in this area.

They crunched the numbers and come up with a circa $200 per share value of the RD pipeline, but risk adusted it was about $50, as in accounting for numours failures to launch.

CSL112 may well be beneficial, certainly previous studies indicate this, but it has to be clinically significant enough to bring to market. That might be the hurdle it doesn't overcome. (My comment)