We are agreeable, definitely love your enthusiasm for PTX-100...

We are agreeable, definitely love your enthusiasm for PTX-100 Wasa.

I think there's been many fans of PTX-100 on the forum, but there's good reason why it's taking precedence more now than say 3 years ago.

Firstly, we had to see the data...The readouts have been fantastic to say the least.

Secondly, it's more recently been granted orphan drug status by the FDA which has further built its case for priority and resources.

Thirdly but not insignificantly, the markets have turned for the worse. This has strengthened the case for PTX-100 to be our clear path forward in the short and medium term.

I think it's always been an important part of the pipeline, but with depressed market caps it's naturally surfaced.

Had Putin not invaded Ukraine pushing up oil prices, gas prices, wheat prices.

Had conflict in the middle east not compounded problems.

Had 2 years of interest rate hikes not happened.

We'd likely be having a very different conversation, a very different pace of pipeline. OmniCar would likely have been in the clinic this year.

But it did all happen, you can only play the cards as they are dealt to the best of our abilities. As it stands market caps are rock bottom, raising capital is a last resort.

Under the current market conditions we've no real options other than to progress PTX-100. The data is compelling but importantly its within our budget to support this program & the possibility of further investment is there in my eyes...I think institutions will see this at a registrational trial as a much safer place for capital rather than the CAR-T space for some time to come.

Play the cards as they come...If world war 3 kicks off tomorrow, it would probably make sense to put the entire company in hibernation until the risks pass...If Russia collapses, inflation settles at 2-3% & Israel and Hamas broker a cease fire that's lasting...Then we could see OmniCar back on the menu in a few months...It's all about which way markets are trending.

But you've certainly championed PTX-100 Wasa, well done and keep up the great support.