Ann: December 2020 Quarterly Update and Appendix 4C, page-24

supertramp: EXCELLENT post by you as so very often! IF J&J will need help for their CAR-T efforts and see this in the hands of a small-scale Australian biotech company, what will (or should?) hinder them to buy that outfight in one go...for a very decent premium.
Your mentioned 500 million if in A$ would reflect a take-over pricing of about A$ 0.78. US$ 500 mio. would be quite a bit nicer, of course....and still cheap for an outfit like J&J !
But either way this would not be too 'shabby' - JIMHO, of course.

wasa