Propanc Biopharma Inc (PPCB)

[swamp-rat]

Updating price target to $5.10

We are updating our price target to $5.10 for PPCH following the completion of several corporate events, including a reverse share split, recent results, and the company's move towards its first in-human clinical trial. If achieved the target represents a market capitalization of $19.1mn, which, although a premium to recent prices, seems appropriate given the many years and more than $36mn invested by the company in operating losses developing PRP to the point that it is ready for its first in-human trials, and the large market opportunity for treating solid cancerous tumors.