Essentially means nearly $12m cash rebate over the next 3 years,...

Essentially means nearly $12m cash rebate over the next 3 years, about equal to 1/4 of the current market cap, without a need to dilute.

MDC will spend what they need to (est ~$27m) to complete NanaBis development including p3 trials overseas, but now get 43.5c back for every dollar spent. If it's like other R&D rebates in Australia, that should flow into the coffers each year, effectively funding toward the next year. I'm not suggesting we'll never see another cap raise but this should have a very significant impact on capital requirements moving forward.

A huge boon for an already heavily undervalued company - recent broker coverage from Blue Ocean Equities valued them at 58c, but the market continues to sleep on this one.

If/when NanaBis comes to market, it will potentially address a multi billion dollar commercial market. Nothing is certain, particularly in biotech, but the risk/reward on this company is becoming ludicrous imo.