Thanks for the great post. I think investors are overlooking the value of PCT for the price to have stayed this low for so long. So I am really glad you point this out. They'll get it soon enough. I already see that some investors understand this.
I just took a look at the NBS investor presentation. Page 23 details the revenue PCT contracts generate. I would assume a phase 3 will fall in the range of 200-400 units manufactured for a price of $3 million to $6 million in income. Factor in economies of scale and margins will also increase. If the trial requires more than 400 units, the revenue increases much higher but I will keep my estimate based on the mid tier to be conservative.