The transferable PRV would be awarded at approval in Pillar 3, and that's still on track. RAC won't apply for a PRV for Pillars 1 or 2.
If a transferable PRV is awarded, RAC need to decide whether to sell it or use it themselves elsewhere, e.g. after a partnership Phase 3 trial in Pillars 1 or 2. That decision isn't obvious anymore.
The transferable PRV would be awarded at approval in Pillar 3,...
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