OK. So ANP lead drug ATL1103 has passed Phase 1 [is in Phase 2];...

OK.

So ANP lead drug ATL1103 has passed Phase 1 [is in Phase 2]; and
Neuren's Trofinetide has passed three phase 2's across two indications.

A primer on Clinical Success Rates.

Overall likelihood of approval from Phase II the lowest success, with only 15.16% receiving NDA.

Phase 3 - >50%.

Given Trofinetide has passed 3 phase 2's and ACADIA, Baker Bros and Cohen's D/D this is arguably a lot higher.

Then on end markets...

In the 2 core products that have successful Phase II trials Neuren have conservatively $5bn-10bn of revenue in end markets compared to a $100m market cap.

Those end market numbers are big numbers but if you have done your research you'll note commonalities many brain disorders.

Trofinetide enhances microglia function and neuronal inflammatory cytokines, that it restores synaptic function and reduces neuro-inflammation in humans.

Given that Neuren is exciting because it may not only prove up a $10 billion end market from FXS and Retts, but derisk the entire Autism Spectrum (1% of population) and make it suitable for MS, Epilepsy, Neuropathic Pain, Parkinsons, Alzheimers, Mood Disorders (Bi Polar and depression), Shizophrenia and inflammation attributed to aging i.e. aspirin for the brain.

By comparison, ANP is being tested in Phase 2 on Acromegaly. Admitedly I haven't reviewed the Phase 1 results but note Neuren had highly encouraging feedback from participants in their trials and positive phase 2. Also, Neuren's animal studies totally normalised the function of retts and fragile x mice in animal studies. Not sure about ANP.

BNO is probably a better comp - 235m market cap and phase 2b ready for a $4.7b end market.

Anyway, based on the quality of some of postings [low] and seeming infinite time available to people who have disclosed they:

(a) don't hold stock and
(b) they wish to buy back cheaper, I'm logging off hotcopper for a while.

Hopefully the quality of content improves and objectivity returns in the not too distant future.

Until then...Best,

5x8's.