" We currently project Novogen’s risk-adjusted annual revenues...

" We currently project Novogen’s risk-adjusted annual revenues to grow to approximately
AU$213 million in 2025 from AU$50 million in 2021, which could translate to earnings of AU$0.18 per share in 2025, up from AU$0.04 in 2021.
Potential upsides to our current valuation could come from:
1) better-thanexpected sales of the three main products;
2) better-than-expected economics from partnerships and codevelopment
agreements;
3) ex-US market approvals; and
4) development of additional product candidates from the ATM and SBP platforms.
Key uncertainties within our assumptions include:
1) development timeline;​

2) product market share; and
3) contract terms with potential partners. "

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