Nice pick up @PinchOfSalt does it say how many people are in the trial?

330 subjects

@PinchOfSalt, I agree completely.

I think an ideal entry point would be if the price crashes should monoclonals fall over AND Cogstate have enough cash in the bank for survival AND there is a promising enough new intervention coming to light within 5 years.

That's a lot of 'ifs'.

That said, we saw how focused medical research can be if enough resources are thrown at it in early 2020 with COVID-19. Cogstate would clearly be on a winner if this circumstance were to eventuate in this space, provided they could scale quickly enough.

For the record, I've never said Cogstate is un-investable. I've always maintained that the investment case hasn't stacked up to me, and the blue sky opportunity espoused by general commentary does not adequately appreciate the very real risks there are in this business.

If I am wrong, then I've missed out. Time will tell.

No you haven’t.

you then have an opportunity to invest in a company that has been profoundly de-risked and has a solid narrative as to why it is worth your money.

Anchoring to a previous price would not be helpful.

As with many companies I have failed to invest in; the question should be re-framed in light of new information, not in the shadow of opportunities missed.