I think with regards to the new formula there has to be an IP play happening as the clock starts ticking once they file if they intend to file for the new formula.
The longer the patent clock, the more valuable the IP is and unless they are in a position to use in the very very near future for trials then why drop any future value by patenting right now?
Happy to wait until the timing is right on this. Even if it's announced the only thing it will do is make us feel good about ourselves, but market won't recognise the significance, SP will hardly move.
RAC - RitzyBusiness' Investment Case - 8 June 2023, page-47
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