Absolutely!

The renal data we have seen so far, IMHO, is worth at least $1.5 billion if not more...worth say C$6 on its own...then you add another chunk of tax loss carry forwards which is worth another C$1.5/share?

FWIW, I am optimistic about the dementia data that will be coming out on Dec 5.  The patient group that is involved in that substudy, is very similar to that of the renal subgroup (the less than 60 eGFR group).  You can't have that kind of improvement in MACE rates (50% RRR) without significant dementia improvements.  My key hesitation is that the dosed subgroup may not have sufficient time to show improvements.  If you assume it takes 24 months to show MoCA improvements...then we only have about 1311 patients on the trial at that point.  So we may once again run into an "under powered" study.  But like the kidney data, the bio markers should provide enough comfort to get the scientists on board.