Jim Rothman

$ALLR let's do the CRC math properly because i don't think people are thinking about this right. 150,000 new US CRC cases per year, but patients don't disappear after year one, they accumulate, so the revenue pool builds every single year as new starters add to the existing patients still on drug. three scenarios: conservative (10,000 new patients/year, 18 month avg duration, roughly 15,000 steady state patients on drug = $2.7B annual revenue), base case (25,000 new/year, 24 months, roughly 50,000 steady state = $9 B annual revenue), bull case (50,000 new/year, 30 months, roughly 125,000 steady state = $22.5B annual revenue). the duration assumptions aren't pulled from thin air either, in the ovarian cohort two heavily pretreated 3L+ patients are still on drug past 30 months, DRP-selected CRC responders could look similar. pharma acquires oncology assets at roughly 3-5x peak sales, so the conservative scenario alone implies an $8-13B asset value, base case is $27-45B. current allarity market cap is about $20 M. the market is pricing exactly zero CRC optionality right now. the ovarian mid-2026 readout is still the primary catalyst and nothing changes that. but the CRC program is a free option sitting on top of it, and the Indiana Biosciences AACR abstract is the first hard data showing that option has real underlying value. long and biased, do your own work. 1/