The corporate split is progressing well. The Polish Financial Supervisory Authority has approved the Selvita CRO Prospectus as part of listing on the Warsaw Stock Exchange and the shareholders' meeting approved the split. The current entity will continue as Ryvu Therapeutics, a newly introduced brand, and will fully focus on innovative drug discovery and development. The process should complete in October 2019. We believe both businesses have sufficient momentum to continue as standalone companies. Our updated valuation stands at PLN1.46bn or PLN91.5/sh.
