At $24 million mkt cap CYP is a stupidly cheap stock.....by any measure, page-16

Absolutely disagree.

Do you understand regulatory and trial pathways? CYP management has been rightly criticised on here for its fiduciary failures, but CYP has progressively advanced its trials. You get it has a massive phase 3 trial well underway that is paid for by the NHMRC (as it did the phase 2 trial)? Go look at start up bio-techs and tell me what proportion have exogenously funded trials?

CYP has gained an IND from the FDA in GvHD. That is a big hurdle and opens the door to the USA mkts. I am blasé on GvHD because of MSB's work there, but the achievement undeniable.

It has Leiden University Medical Center (LUMC) wanting to collaborate and fund a renal transplantation clinical trial....

All for a bit of constructive negative talk. The CYP share price is after all in the bin. But its trial success anything but (bar COVID - now that was I agree a stupid waste of time of money by management).