Ann: Race Strategic Update August 2023, page-67

Reading between the lines @LongTony is that the opportunity is still as significant as it was yesterday but with a more refined commercialisation strategy?

Even if you take into account the time value of money and push out the time-scale the NPV really barely even changes if we are talking 2024-2025-2026.

I would rather spend the time now than chuck an MSB re-do a trial and wait three years then back to the starting block.

Downside, investor expectations on trial completion for what they determined to the investment horizons. The trial durations seem fairly standard, so its just the time taken to start, could this have been prevented in hindsight? Not entirely sure, but there does seem to be a slight pivot since Cardio clinical development plan, should engagement started earlier or Pharms provided greater input as more data has been presented.