Elu, it's one of those questions that's hard to get an...

Elu,

it's one of those questions that's hard to get an accurate number. If you look at peers, such as Imugene which is way ahead of us in development and has had one successful phase 1 trial. They peaked at 60c ps giving a mc of $4b. They have gone down a lot as all biotech minnows have. If we had a $4b mc that would equate to just under $2 ps! Imugene reached this with zero revenue. We need a confluence of many factors to work together for that to happen. A change in sentiment for biotechs, interest rates stabilising, and a successful phase 1 trial, some nice media articles and who knows. But it would be well north of 5c. PAB is still a very high risk play.