PAA 2022 , Human Trials , Covid , MND , Oncology , HVTL-1, K9 Phase III, page-146

Hi Bogan -

As we've seen with PAA time and again, excellent scientific outcomes haven't done much to move the SP dial of late. I think the market is looking for news of the corporate / commercial variety. That said, it would be normal to see some sort of speculative uptick in the lead up to trials - especially in new indications with potentially huuuuge addressable markets.
So, on COVID trial registration / HREC approval, meds ready and commencment, I would like to think we're back to high teens. As the trial progresses (assuming no interim newsflow) and there's some betting on a positive outcome, I'd expect mid to high 20's (this is where the market priced PAA prior to the Elanco knock-back). If we have successful trial results (by which I mean some indication of efficacy, not just safety and tolerability) in COVID-19 (which we can expect to be known pretty quickly) - 40 to 60 cents, maybe more. Once we have regulatory approval and a pharma partner - $1 plus.
And then there's MND.
And canine cancer.
Then human cancer.
This thing is like a tightly coiled spring...

Have a great Christmas.

Densy