I try keep things simple, lay out the upside and downside and...

I try keep things simple, lay out the upside and downside and allocate my capital accordingly. My portfolio weighting changes constantly based on the risk/reward I believe is on the table... it’s not easy, but sometimes cutting some losses and allocating elsewhere is the best thing to do.

Anyhow there is indeed a long road ahead for CHM, so I understand the risk involved... if this treatment doesn’t work then it’s basically worthless. But if it does, then the big pharmas will want a piece of it early .. like end of phase 1, which is possibly 12-18 months away.

But it won’t get approved until a phase 2 is successful - so that’s another 18 month wait, and add on 9-12 months for application. So I’m looking at a potential 2025 approval for this. But the value will be substantially higher leading up to that.

in terms of the upcoming phase 1 read out, I’m keeping my expectations low. It’s their first read out and only two patients were dosed in Sep&Oct, so we may only get an update on a couple patients who were given the lowest dose. So that means it’s unlikely to have any benefit, because they are really looking at safety at this early stage. They should only see real benefits on the higher doses, which we may get toward the end of this year.

But I’m up for a pleasant surprise- but realistically a win at this stage is that the therapy is safe, which is not all that exciting, but it’s critical to progressing this treatment.

goodluck