Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Similar story here Shedit. I started buying between 38-42p thinking there was a chance I'd be getting a bargain.
A well received product with vital life saving application in a forward looking market...
It wasn't long after that various members of the BoD started buying steadily.
That was at prices 50-70% higher than here, giving me belief that we're really in gift territory now. I have been averaging down, and will probably take some more should price break down again.
The market is sleeping now because it's risk off. Earlier it was just sleeping on this opportunity.
Mega bargains is what I need right now. Having bought in at 67p I am obviously dismayed by the SP’s fall since then, I am down by 80%. However it looks like we have now reached the bottom and I am encouraged by the recent director buying so I am thinking of treble-ing my number of shares to bring my average down to around the 30p mark.
All coming together very nicely, As some say these are mega bargain prices. Tick tock!
CiRT gains Proprietary Code for Insurance payments
OBD have received a unique Proprietary Lab Code (PLA) from the American Medical Associations Current Procedural Terminology (CPT) Editorial Board. This code will be available for use by payors from 1 October 2022 for all requests for insurance reimbursement, whether from Medicare, Medicaid or private. This is another important step in the validation of the CiRT in the US, the underlying EpiSwitch technology and the value it brings to the healthcare systems and oncologists. Providing unique codes to diagnostic tests builds physician confidence and facilitates a smoother billing process.
The test was only launched in February and management have been impressed with the progress made to date. Key will be seeing revenues from the CiRT continue to grow. Management are optimistic about its potential and hope that one of the six major pharma companies currently in discussions about its use, will shortly sign the first large commercial contract.
https://www.londonstockexchange.com/news-article/OBD/us-reimbursement-code-for-episwitch-r-cirt/15525606
There is also a write up of the recent webinar on which OBD talk about how pleased they are with the way they are raising awareness for CiRT, initial orders and the potential to come. The product meets a clear medical need and brings significant benefits to patients, oncologists and payors. There are currently six big pharma companies negotiating possible contracts and the first high-volume contracts are expected soon. There is a lot of hard work to be done but the team are all pulling in the same direction.
You can read the full write up here
Https://www.yellowstoneadvisory.com/commentaries
Good presentation. £4.6 million cash in the bank. They said they won't need a fundraise. 10,000 capacity per month for episwitch test for ICU cancer treatment. That's the main focus of the sales and marketing drive now. Suitable for 15 different types of cancer and they are extending it for new types including bladder cancer and pancreatic cancer. The master services agreement is with big pharma. When the first orders are agreed they will RNS who it is, subject to an NDA atm. Another 5 contracts with another 5 pharma in discussion now.
Pricing structure is variable in line with the cvc code- $1,500_3,000.00 each test. Gets more expensive as demand grows in the US system according to John Burrows, the CEO.
Another 4 big biopharma conferences to go to this year. They are presenting with big pharma at the next ASCO in Paris.
The product should fly. 15% of cancer patients already choose ICU over chemo. Less invasive. But it doesn't work for everyone. Current tests take weeks to process. The EpiSwitch gives an immediate result saving valuable weeks in decision support. They will become the go to test and grow demand for ICU at the same time. I have tweeted one of their slides. But I would recommend you have a listen.
The sp has taken a hit because Armistice Capital have taken warrants and sold their shares. They didn't tell OBD. Shame because they could have organised a swap with Vulpes by the sound of it.
Anyway, new buyers are in at bargain prices.
GLA.
If you missed the webinar with management you can watch a recording here. Management seemed pretty optimistic about the potential sales from the recently launched CiRT
https://youtu.be/GBc4vZ9IWg4
Ridiculous drop over £4 million debt. Plenty of buys now! In 2 hours time they will be telling us more about who the big pharma is (I hope otherwise it will be leaked soon enough) and telling us about the pricing structure and the other 'multiple agreements ' with another 5 pharma. No time to sell. Time to buy.
We need more sales preferably, standard statement as in all companies and as OBD have said before in the previous years.
Accordingly, as explained in more detail in the Note 2 to the interim financial statements, the Board has concluded (as it did in the annual reports for the years ended 30 September 2020 and 30 September 2021) that there continues to be a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern.
As the remainder of the financial year progresses, the OBD team is therefore focused on growing orders for EpiSwitch CiRT and on generating revenue from pharma and other partners.
Better news is..
Master service agreement signed by a top-10 pharma company with detailed pricing structure for high volume CiRT testing and translational medicine work in multiple projects (June 2022)
· Multiple potential agreements with five other pharma groups for the use of CiRT are advancing (June 2022)
Looking like we could start gathering momentum in sales soon with these agreements being put in place, just sit and wait longer for us shareholders I guess.