Hey FootmaxI'm mid way through working up a half accurate val,...

Hey Footmax

I'm mid way through working up a half accurate val, Its a little premature to be completely accurate because of assumptions around tech (market segmentation, purchaser distribution profile (if not licenced) and also price point basically ie cure or compliment, ongoing or episodic, reach, Long COVID TAM, etc). FYI I'm using the Gritstone deal as a template 9which should be conservative given relative staging). As you can imagine the number looks conservatively to be many many many multiples of current price.

All this discussion around timing, intentional ? miscomprehension of basic investment strategies, playing the man not the ball, and bias to the negative despite good performance is for small position holders, isn't it?.

Personally this is 1% ish of overall portfolio, shares otherwise up c 6% today... for others that might be more, less or 0% - that's up to them, but hopefully you see my point.

I've averaged, so lets say I've currently got notional portfolio "drawdown" of c .3% due to BIT. So what? I'd get that variance from an NVIDA or BHP announcement. If this goes to say the price tag on the thread (DYOR), what percentage of the portfolio will BIT be then? Satellites aren't rocket science mate!

So - imo its not a 2 way range mate. There shouldn't be the concern re missing the "bullet" you spoke of. You chose how many rounds to send downrange. People who carry on about ST SP cant blame the tech or management. They're uncomfortable because they mis-assessed their positioning or risk tolerance... or they're carrying on trying to buy in cheaper, or they have some personal challenges....

Bizarrely - If anything based on what we have heard recently, results are expected this quarter & indications are good, right?

Questions

• what % of immune do you think are successful in Ph 3 with success in Ph 2?
• If successful in trials, and you applied the Gritstone terms to BIT what do you think SP should be ? Do you think we're over or under valued ?
• Do you think timing of Gritstone transaction was interesting given GILD ''off field'' performance ? Cheap pick up ? Do you think its possible we've been approached and have indicated we want to take it to Ph2 so as say to "get it done" or "not to be shelved"? Personally, I want my businesses to achieve certain things, not just be window dressing for an acquirer. When this stock is commentated on by those who only care about how much it goes up or down in a week, is there not a potentially significant disparity in alignment and would that ST objective ultimately maximise SH value?

You generally don't answer a technical question, so if you answer rather than carry on about some unrelated point, I'll provide a considered reply, might take a while though per above.

Connected with editor in bio space, will be interesting to hear views there. I think issue in part is as per my previous, nominal comms to investors or consumers. Look at online hype for CRISPR, completely different approach.

DYOR