Your comments are fair but here are some counterpoints:
The company has been incredibly clear the mixture of one-off to ongoing income over the last few years. It has been present on every presentation so it shouldn't be a suprise to anyone. If anything the suprises have been positive relating to the sales milestone and PRV timing and value.
I agree that NNZ-2591 is being undervalued but I think people are missing the fact that we already have had offers and on-going discussions for licensing or acquiring NNZ-2591. The Phase 3 comments are relating to maximising value from a 1bn~ deal to a 5bn~+ deal, and this could occur at any time. The other aspects that people may be misunderstanding is the timelines will be drastically compressed compared to our experience with the Rett Syndrome trials.
Cash will never be an issue. Acadia pays for all expansion and the costs for the Phase 3's are already accounted for. Our operating costs are tiny and they are covered by bank interest as per our annual report. I don't know why we're talking about a dividend when we're effectively up for sale, it makes no sense at all. The SBB has some impact to reduce SOI and to consolidate the share price (hopefully) but the dividend provides nothing for long term investors, nor does it take into account that there are large holders who are NZ based where franking credits aren't that big of a deal. This is a NZ company, after all.
NEU Price at posting:
$13.10 Sentiment: Buy Disclosure: Held
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