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PeaceAKKI

The main reason I use oil exploration analogy is to compare MC of some oil exploration companies on ASX in a similar stages of success.

For example, WHN is trading recently at MC of $60m-70m with a stage of P10 potential targets which is equivalent to a Pre-clinical trial of ATL1103. It is either WHN is over valued or ANP is significantly undervalued. Of which IMO both could be true.

I am guessing that it is easier to grasp the concept of the tangible 'barrels of oil' than genetic technology in curing diseases. So ppl gives more value more on a P10 'oil dream' than a P30 'drug dream', as you put it as dreams.