My analysis and intrinsic value of CHM March 2022, page-10

It is always hard to value a Bio-Tech without any income. But using peer comparison and recent deals then there is a way to estimate.

Using IMU and its current valuation of the CF 33 / CD 19 is valued at about half a USD billion, based on pre-clinical of the virus and the success of CD19 CAR-T tech by other companies.

About the CD antigens, it is not important to have it validated as the first ever, it is important someone gets it validated, that opens the race for many to come up with the best way to apply it. As soon as one company achieves CD17 validation the value of CHM just based on that should be about USD half a billion.

Plus, look at the pre-clinical, all boxes ticked that suggest fantastic clinical results:

Key findings highlighted in the Nature Cancer publication included:• Strong preclinical safety and efficacy: the CDH17 CAR T completely eradicated tumours, with no relapse or toxicity, in 8 different in vivo models including colorectal cancer (CRC), gastric cancer, pancreatic cancer, and neuroendocrine tumours (NETs).• Optimal CAR T construct design: the CDH17 CAR T as a third-generation CAR T cell construct was shown to be superior to the 2nd-generation CAR T cell construct, demonstrating complete elimination of solid tumours in vivo. Construct optimization with a very short linker domain further enhanced tumour cell killing.• Tumour-specific activity: CDH17 CAR T cells infiltrated and destroyed CDH17+ tumours, but not normal CDH17-expressing tissues such as small and large intestines, creating a therapeutic window for CAR T treatment of solid tumours


Just based on that alone, current sp is a great level to buy in for LT. Anyone concerned about revenue now, about profitability and getting rich in a blink of an eye - not going to happen anytime soon. But the CAR-T CD market, which still needs to crack 90% of the cancer market or 100% of the solid tumour market is huge. And as soon as clinical results confirm pre-clinical results the market will jump on big time.

It took 5 years for IMU but it won't take that long for CHM as both, IMU holders and management as well as the ASX , have learned to value results more appropriately. Its my experience holding IMU that made me invest in CHM. For anyone without any Bio-Tech experience it will be difficult to see any value at this stage. But that makes investing now so valuable for the future.

GLTA