From the Milford report:
" ..... this new drug is in early-stage trials, so the chance of success is low and would require significant investment to reach commercialisation. That said, the success of Daybue is an encouraging sign for the future of this second drug, given it is trying to resolve a similar issue as Daybue (repair communication between neurons) in diseases which present in a similar way to Rett syndrome".
(IMO), the 2nd sentence, cancels out the first. Economists and analysts are not scientists and it is the science (backed up by preclinical results), coupled with management's aura of confidence, that suggests to me that 2591 P2 success(es) are a lot greater than low.
I am prepared to back that with patience, 2591 will far outstrip Daybue as a driver of value. (Of course investment funds have a different outlook to the speculative investor.)
From the Milford report:" ..... this new drug is in early-stage...
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