IHL - INCANNEX - Takeover that exceeds a valuation of $10b?, page-99

I think OSA / 42X is the one you would sell if we go down the thinking of sell one to help fund the rest type strategy, in that it's the frontrunner drug that will have the most clinical evidence and with a huge TAM, so naturally that means the most interest from any acquirer, furthermore commercialising a drug in this space in my view means one should preferably have a decent war chest to help drive sufficient physician demand for clinical adoption (whether it's as primary treatment or even for those who's dropped off CPAP treatment), securing govt/commercial reimbursement through further treatment comparison clinical studies etc etc., so I'd argue once clinically proven it's going to be more effective for it to sit with a cashed-up acquirer than us to take it further thereon, so as to maximise its potential if that makes sense?

That said, the IHL portfolio as a whole is also highly valuable as a collective owing to the long 'staggered' pipeline. There's value to confidently say we now have a steady stream of potential upcoming patented drugs that would offset those coming off patents.

Guess we'll just have to see what's on offer (if and when it comes) and let board/management play it be ear in the meantime.

Happy to hear alternative views!