Share Price, page-469

I will give you the benefit of the doubt and assume you meant the outcome of the NDA isn't certain. You're right - a successful NDA is nearly a given but until it has been done there will be some risk there. It is comforting to know we've done exactly what the FDA needed us to do, combined with the fact it's a rare disorder with no other approved treatments and there's huge community support and advocacy. It isn't certain but it's as close as you can get in these circumstances. The ASX generally hasn't given biotechnology or medical companies hefty valuations until they are in their mature stage. Investors seem to be more interested in whatever the latest tech trend is. I don't think the market is at all efficient and there's often a big gap between trading price and underlying (risk-adjusted) value like there is on offer here.