Ann: September 2023 Quarterly Update and Appendix 4C, page-24

Hi Derrick,

I'm hoping Steven will use any funding leveraged from PTX-100 expanded phase 1B data to fund it's registration trial, or worst case phase 2 trial.

OmniCar, your probably talking tens of millions a year in phase 1?

PTX-100 registrational funding? Not sure but whilst the PTX-100 therapy is much cheaper than CAR-T, it will still be expensive and need the full attention of our capital resources imo.

Given the unmet need of TCL/PTCL cancer, there's a likelihood the registrational trial will be granted with a much smaller cohort than traditional trials eg. A hundred vs thousands of patients as an example...So a very positive outlook as far as capital required goes, but even the smaller registrational trial will stretch the budget.

I'd be personally extremely happy to see our Ferrari (OmniCar) shelved for a few years if it means limiting the dilution to the bare minimum required to get PTX-100 over the line to market.

We can't afford to run 2 Ferrari at the moment, not in this market at any rate.

If we can get PTX-100 to market, it could potentially fund OmniCar trials which would be massive. Think of the dilution we could save, think of the market cap upon PTX-100 to market.