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Market can be slow to respond Dan, I'd expect us to stay undervalued until more details of the partnership arrive in Jan. You're rifght the price should be between 100p and 200p at the moment, but for some reason the market just isn't there.
Anyone else surprised to see 29p (£24mill market cap)?
Sound analysis puts this at £200mill at least still so I'm not exactly planning to sell my holding. I'm hoping to see a Novacyte style rise in price, but there's a part of me that just can't imagine the price going over £200mill even though it probably should.
Well I'm just a random guy on the street so it's an educated opinion that DEST will probably fundraise regardless. That's because phase III trials are expensive, and often to be in a comfortable financial position fundraises are needed to 'top up' the milestone payments.
From the companies perspective it's kind of free money so why not fundraise in both situations of having a partnership and not having a partnership?
I would be very surprised if a random figure of 10mill was included in a note like this without any reason to back this up.
Just because no deals have been finalised yet does not tell us whether any are in late stages or not. It is more likely that there is a late stage negotiation and a first milestone figure has been 'agreed' as 10 mill, and that would be why it's included in the note.
I've noticed on page three that $10mill is added on for 2022 cash described as "estimated milestone".
This is the first I've read about any milestones like this; can you share some more info about this specific point?