So, the in-house eye programme is progressing. I understand the...

So, the in-house eye programme is progressing. I understand the timeframe to deliver a drug is 4 years - 6 months to select CPP, 6 months for IND approval, 3 years of human trials/approvals. It begs a few questions - at what point do we see some commercial outcome (4 years?), at what point and at what cost will we chase new capital, where are the outsource programmes (CRISPR, Herpes). I understood the strategy was to develop an in house drug (Eye) and an outsourced technology (CRISPR, Herpes and ...). There is no mention of these in the presentation. Someone give me comfort that we won’t be waiting another 4 years for a commercial return - that will take us into the realm of a 20 year investment (March 2004 float). For the first time in 15 years I have moved off BUY sentiment (to HOLD) and seriously considering SELL sentiment and action.