Apologies WW - I thought you were implying my 400m was too high. If we land a good CEO, Board members, some insto funding and a couple of pharma deals to go into Phase 1 then I think 500m-1b but that will depend on the upfronts and deal structure. The Euroz report assumes upfronts in the US50-150m range plus payments of 200-400m along a sucessful path (for ONE product). To go bigger than 500-1b I think it will need dual listing in the US but all of these things could occur in the next 2 years.
In the mean time if it was trading between 5-10c I would no longer say it was cheap. Between 10-20c I would think it was fully priced for what we know and above 20c I couldn't justify.
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