Good post, agree that commentary on OV market size reflecting the potential for CF33 platforms is ridiculous.
Every market segment, however you slice it up, began at $0 market size.
Still not convinced on NASDAQ listing and I'm glad they're holding off for now. The NASDAQ became a little bit of a graveyard for biotechs a couple of years ago, with 20% of the 370 NASDAQ biotech index companies trading below cash value in 2022. Those 20% of companies were worth an average of USD 150m MC each, despite having an average USD 270m cash. I believe things have improved a little, but still a tough market for biotech no matter where listed. In fact, the ASX appears quite kind to early stage biotechs, relatively (nowhere has been kind to them over the past few years).
All the biotechs which have migrated from the ASX to the NASDAQ over the past couple of years have been pummeled. Incannex is a good example. Had a large MC and a really passionate following here on HC. The NASDAQ has not been kind.
I'm not saying these companies would've fared any better if the stayed on the ASX. But the main rhetoric on HC seemed to be that once they listed on the NASDAQ massive rerating would occur. It didn't for any of them.
Imugene definitely need to time it right. They also need to be careful about who comes on board. Last thing we want is big US players forcing a cheap, pre-mature TO.
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