I (continue to) agree with LT. There are many searchable, rationalised napkin calcs out there that line up with this breakdown.
There's "true" value, which, if RAC or its eventual buyer capture total addressable market across all indications, put the IP valuation in the 300bn per annum range. This is of course not achievable or practical in a buyout scenario.
BUT
In a derisked and affordably discounted buyout scenario, with a couple competing Big Pharmas at the table, there's no reason $RAC cannot achieve in excess of $100 per share. Maybe a lot higher if we take our time to prove out the data across a large number of the 130+ sensitive assays.
It's easy to dismiss this as fanciful, but it's a numbers and science game - and we keep drawing aces, again and again.
The real question is not "if" Bisantrene works - it does, and safely - but when is the right time to show our hand? Will we be in partnership before the next AGM, pending data readouts? These results, plus healthy competitive tension, will get us to where we want to be.
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