Ann: Broker Briefing Presentation, page-3

Thanks for sharing those links ap, very interesting reading indeed and great for comparing Epidyolex to RX5. Without knowing in depth about GW’s suite of other products in development…. There could be a case for a shallow comparison between GW and Emyria in terms of potential valuations….

GW taken over by Jazz for in excess of $7b USD… GW had Epidyolex turning over $500m according to that article and that appears to be a product targeted specifically for Epilepsy. My basic understating of Rx5 is that there will be multiple use cases for the product, this to me makes Rx5 more superior as it’s already applicable to multiple use cases.

This broadens the market as well which in turn potentially broadens returns. If epilepsy is worth $500m a year in CBD then what is that figure + other psychological disorders and symptoms of major diseases?? $1b per year? More even? An extract from the article you shared :

”RBC Capital Markets analyst RandallStanicky was more cautious. His teampredicts Epidiolex could hit $1.4 billion insales by 2025 but arqued Jazz will need tomaximize the value of GW's pipeline to makethe deal worthwhile.”

Randall reckons $1.4b and apparently that’s “cautious” JUST for epilepsy.

Wrap that all up and throw in the fact that RX5 is twice as bioavailable when compared to Epidyolex…. It really makes me wonder what kind of valuation EMD could achieve provided that they do achieve commercialisation in both Aus and the US.

Let’s not dismiss RX7, EMDMA and other CBD products that are in the works at EMD. (GW is similar due to the pipeline of products they were developing before being shown the jazz hands)

Only came across this company recently and i was surprised at how little attention it seems to receive compared to others in the industry. It just has so much going for it, it’s unreal. Anyways I could keep rambling about the strength of the board, the share registry and other products, but that will do for one night.

All IMO and please let me know if I’ve made any mistakes… cheers and good luck all!