And.......if we win!, page-32

Hi TL,

I doubt whether POH could successfully get a Capital Raising away while arbitration result remains unknown.

Even a modest arbitration award, let's say 10% to 20% of total claim, and a return of Daptomycin would provide POH with considerable cash runway and as well as optimism to commercialise Daptomycin given its advanced development status. (I'm hoping arbitration could yield up to 30% to 50% of total claim...that's purely personal speculation).

There could be a case to be made for a small CR, even with positive arbitration result, if POH believe Mylan may try to stall payment. Bear in mind RM recently stated that POH has enough cash to last till the end of 2018.

Recent volume spike and SP increase has provided some welcome relief to shareholders this week. Looks like Orbis may be finally out, which allows a bit more potential for the SP to run without an Orbis overhang.

It feels like the smart money is expecting a positive arbitration award.