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How much CRO did you receive? Haha

Yeah in 4 years CRO will be worth 0.003 😂

While we wait for REGAL trial result, can we just discuss about a setup that is similar to SLS? Those who missed the SLS bus can consider this. I’ve been looking at BriaCell Therapeutics (NASDAQ: $BCTX ) and I think there are some very interesting similarities with what happened in $SLS before the market started seriously pricing in the Phase 3 opportunity. Its main product Bria-IMT is a cancer vaccine which trains the immune system to attack cancer cells just like GPS A tabular comparison below for simpler understanding Similarities      |**Sellas’  GPS**|**Briacell’s  Bria-IMT**| |:-|:-| |Event based trial – 80 event|Event based trial – 144 events(interim)| |Pivotal ph3 trial result expected any time|Pivotal ph3 trial interim result expected by end of this year| |overall survival is the primary endpoint|overall survival is the primary endpoint| |Need HR < 0.636 for approval|Need HR < 0.6 on interim analysis or HR <0.7 for final analysis for full approval( no confirmatory study needed)| |Off-the-shelf peptide-based immunotherapy approach|off-the-shelf, cell-based immunotherapy- approach| |Independent IDMC has repeatedly allowed the study to continue  |independent DSMB has repeatedly allowed the study to continue( 7 times)  | |median OS of 21 months in ph2|median OS of 16.6 months for heavily pre- treated patients in ph2(almost double of Standard of Care)| |multi-center, randomized, open-label study|multi-center, randomized, open-label study| |Control arm is BAT|Control arm is physicians’ choice| |Address unmet need of AML patients in CR2 who cannot undergo a transplant|Address unmet need of late-stage metastatic breast cancer patients who have failed multiple rounds of chemotherapy| |the later the trial ends, the better|the later the trial ends, the better| |Will be standard of care if trial succeeds|Will be standard of care if trial succeeds| |SLS009 is in pipleline|**Bria‑OTS™ / Bria‑BRES™, Bria-OST+   are** in pipeline| Differences |Sellas' GPS|**Briacell's Bria-IMT**| |:-|:-| |For AML patients in CR2|For late stage Metastatic breast cancer patients| |Monotherapy(vaccine alone)|Vaccine + check point inhibitors| |WT1-targeted peptide immunotherapy|allogeneic whole-cell immunotherapy| |Fully enrolled|Enrollment in progress(have enough for interim analysis)| |Market cap – $2.3 billion|Market cap - $35 million|   External Validations: ·       Most important validation for BCTX: **Bria-IMT trial is considered one among the most important 11 clinical trials in all of medicine in 2026 by** [**nature.com**](http://nature.com) o   [https://www.nature.com/articles/s41591-025-04083-x](https://www.nature.com/articles/s41591-025-04083-x) o   [https://briacell.com/eleven-clinical-trials-that-will-shape-medicine-in-2026-briacell-phase-3-trial-featured-in-nature-medicine/](https://briacell.com/eleven-clinical-trials-that-will-shape-medicine-in-2026-briacell-phase-3-trial-featured-in-nature-medicine/) ·       The Contract Research Organization (CRO) Prevail InfoWorks  who manages the trials, have themselves invested in $4 million in 2023 seeing the potential of the drug. **One thing that I found that could be interesting is even if the interim HR \~ 0.65, narrowly failing the needed mark (0.6), it could be still be valuable as if this HR is maintained in the final analysis, it will get approval(need HR < 0.7 in final analysis)** Recent Independent market analysis give it a market opportunity of $2.5 billion for Bria-IMT alone   If the 16.6-month survival signal translates into a meaningful randomized OS advantage against physician’s choice, I have a hard time seeing BCTX remaining a \~$30–50M company. That’s why I think BCTX may be one of the more interesting asymmetric oncology setups right now.   Caveat: The company has executed a lot of dilution in the past, but lately they have said that they do not have to dilute till interim results are out. What do you guys think about BCTX? Not financial advice. Do your own DD. Also If you guys know any other setup like SLS, reply in comments