So Azer-Cel is really toward the end of Ph2 clinical trial as...

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    So Azer-Cel is really toward the end of Ph2 clinical trial as registrational clinical trial allow the data to be used for regulatory approval which also occur in Ph3 clinical trial but they don't require the number of patients as Ph3 clinical trial and will cost less and be much quicker, VAXINIA is toward end of Ph2 clinical trial as efficacy is already seen in Ph1 clinical trial which is why I said MC of $7-800M right now using your estimation.

    PH 1 - 50-100M.
    Ph 2 - 100-500M.
    Ph 3 (and commercial) 1000M+ 1B.
 
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