Valuation and Targets, page-343

I think most people seem to be missing the point. Yes you are being diluted ~10% but the data is seriously good i.e. 85.7% (30 out of 34) of SAS patients had reported Patient global impression of Change (PGIC) of
moderately to definite and considerable improvement in their OA condition with iPPS (Zilosul®)
treatment.

The timelines are now confirmed, the trials are fully funded and the revenue opportunity still exists in Aus through TGA to start in 9 months time. Yes 9 mths!!! So 3.1m Australians can potentially get treatment in 9mths time. If only 20% access PPS at US$2500 per treatment = $1.25bn revenue on 50% royaly. Seems pretty cheap for company with an EV of ~$230m post this raise

Tomorrow the raise will be old news and focus will be back on the incredibly positive data