Yep, my first thought reading that term sheet was, there would...

Yep, my first thought reading that term sheet was, there would be no way you would be entering into these talks if trials were going poorly. This to me suggests trials have been very good and this is a move to start strongly pushing for orphan drug status, TGA, FDA approvals and processing and ultimately commercialisation. It's a bullish sign for me.

I don't know the whoe staffing structure of the company, but I imagine it's mostly around the trials. All these next steps are very involved with some saying these processes can take years? So, you could either employ people directly to focus on these things and have that cost on the books or develop more with Fenix who they have built a working relationship with since 2019.

Let's see how the market likes it...