I think the ceiling is high and value will be adde

I think the ceiling is high and value will be added ONCE NGIO enters new studies that expand their market reach. The prior $300 mil appraisal was based on the breast cancer vaccine that at the time was being studied in a HER2 study of high and low expressing subjects (1, 2, 3 +). Robust reactions were seen, but overall statistical significance wasn’t seen in the higher her2 expressing subjects because it’s nearly impossible to show improvement vs. Herceptin (standard care for those subjects.) AE37 found statistical significant (albeit in a small n size) in the triple neg subgroup. So an appraisal of the bc vaccine needs to be updated to reflect the targeted market. But like I said, NGIO has further plans, more combinations to study, all of which add value as those developments unfold.