Alternatively, there’s no certainty monetisation equals sale. It...

Alternatively, there’s no certainty monetisation equals sale. It could just as easily mean a licensing deal with an upfront payment.

While a multibillion dollar sale of the B Cell platform and dividend payment would be very nice, a licensing deal with $2-300million upfront would allow significant expansion of the clinical trials for CF33 based platforms so much so that IMU could run progress to and run many small registrational trials against indications with the greatest unmet need without needing any further capital raises. Others have spoken about how that would open up the drugs to all indications by way of off label prescription, which then provide further funds to run more clinical trials to obtain registration for first line usage.