xmas 2015, page-15

Cool - I've done my sums and your ramp may be set
with too high a grade.

lets keep the assumption is good clinical data in humans, from the HCV TT-034 trial, as that's no ifs or buts, it's done in humans, none of it 'ex vivo' in the lab such as Calimmune. put Calimmune and all other data aside for now.

all the broking firms will do is check the others in the space that have also managed successful in human validation, and similarly have a cornerstone patent estate. the only one they will see comparable is Alnylam.

Let's ignore the fact Alnylam disease targets are not nearly close to Benitec's programme in terms of market potential.

Then to be extra conservative lets value the validated Benitec at a 50% discount, because it's an aussie company operating out of a quarry, and doesn't have the direct support of a sophisticated US investor market, a federal science minister, or a silver tongued pin striped CEO such as Maraganore or a fast talking Stanley Crooke.

Alnylam, sans any commercialisation and only recent clinical validation, is currently worth $3.5B.

That makes a clinically validated Benitec at $1.7B, on the above reasoning and assumptions. So around $17 pps. 42 bagger.

Sorry to be so bearish Cool. I hope I'm wrong and you're right.