Hi Reg, I have been clear on that since the FDA announcement, you can only do a discounted cash flow (DCF) on what has been approved by regulator/regulators. MSB's pipeline opportunities have a comparative value but most hedge funds and institutional investors will be running a DCF model based on their Ryoncil sales / cost expectations. That is why sensitivity to Ryoncil news is so great right now. If you look at MSB share price performance since Dec 19 in my opinion it reflects how Ryoncil sales assumptions have been revised downwards as updates from MSB were received. Updates that showed progress but varied from the December 19th 2024 enthusiasm expressed by Si and other company commentators.
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