I posted some scenarios when the “more than $500MM” valuation came out. I did that just as a way of showing there was a definitive way forward, even if that was the max value the IPO could achieve.

But I believe Joe will be able to upsell that amount based on investors’ risk appetites leveraged against the potential upside of NGIO’s various projects.

I also believe there will be some level of increase based on progress between when the valuation was completed and when the IPO prices/executes. If there is clear pre-clinical success and an IND, that could add substantial value, IMO.

I sure hope the events Joe was planning for the time between the call announcement and the actual call come together. It would be huge to have a time frame for the IPO and all the pricing/cap structure before the call so we can prep Qs and to increase the size of the interested audience.