The reason for the pie in the sky valuations is because in theory Rce are about to commence human trials in a new type of anti biotic. They believe that it is effective against multiple bacteria including many of the ones listed by WHO as most dangerous. More importantly it is not stopped by and does not appear to cause anti biotic resistance after multiple uses. They only have 173 million shares on issue for a market cap of around $181 million. The big unknown is to date it has been through multiple very encouraging animal trials but has not been tested on humans so these trials are pivotal. Add to that the product also showed effect on certain types of virus groups including the type covid are in. As such it was selected by a USA company and also Dohertys lab in Australia for further testing as a therapeutic against covid infection.
Just a brief summary if you were wondering why some are so confident price might fly. If it fails the hurdle in human tests then its all over but if it passes look out. Being tested for IV use in sepsis infection but also what should be a much quicker test with results for burns infection treatment in a leading WA burns hospital. First patients are expected to be treated this quarter so hope for some data, although in reality probably another quarter before any real news..
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