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There are some who have said no II would invest here the way we are financially , and to a point they are right , but on the other hand we are a perfect fit for an II.
Why, because we are no longer just an R and D company as we now have world class products , 1 already on the shelf being sold , all be it slowly, and 1 hopefully in July fully on the market , with timelines established.
From the presentation we know its 12 months for data gathering in the US, 2 years for NICE but with these combined that could well be reduced . FDA website states $500k cost for De Novo application with 150 days timescale for news. With the partner news in the US , will we fund the test and machines or supply at cost as they will be sold to parents i assume so just pay for data gathering????????.
£2m for US , £5m for running costs for the next 12 months, plus £2m just in case we run over = £9m
£3m placing now at 3.5p to give us stability , and then when the sp gets to 10p which it would easily with conformation in July then £4m to the II at 5p giving them 50% discount , BUT also £2m OO to all shareholders , rewarding them also .?????
Ha ha Just admit it Tiger you bought in hoping to be able to pump it up to grab a quick 20% profit and it has nt worked out and now you are all doom and gloom . THERE WAS NEVER going to be news from NICE until July and you so called research and contacts did not work out.
£5m sounds a lot and 12 months does nt seem long but the stroke test market is about £150m world wide so only 3% then sales from hearing test and grants etc so definately do able as long as in July we get full approval which seems likely
Its interesting when you look at the list Eureka posted yesterday that the only real negative is financing , BUT that far outways all the positives currently . How long would it take to get to sales being the same as outgoings , 12 months i think roughly , so if we could get £5m deal then this could turn round very quickly. if the stroke test IS nailed on then a deal should be quite easy with a discount of about 30% ish . Although an FDA approval would be great it is not the holy grail as it is about 1 third of potential worldwide sales for the hearing tests and we are already getting sales although slowly. As an R and D company we are on the cusp , but like most this is where we could fail but i think in Cheek we have a very real chance of progress , unless something a little underhand pops up . These tests have a potential of multi million pound incomes per annum so never rule anything out.
Good summary Eureka01, just to add if /when we get full approval for the stroke test this could make a huge difference to the roll out world wide as NICE carries a lot of credence and would speed up any use for other health care around the world.
The interesting thing for me is that this is not a pharma but physician organisation , this is why we need funding BUT we will have more cudos with the results as it will be seen as a more independant view as it is delivered by the medical proffession and not a pharma . Also with the conditional approval this will help as NICE carries weight all over the world and the De Novo route is also cheaper and quicker once application goes in .This is the start now if we can get a good finance deal in place by which i mean £4-5m then things and possibly the sp will start to improve .
Just wondering , when we get the stroke test fully approved would it not make sense to swap the FDA applications round , it is more profitable , with NICE approval and another test to compare it too application would be so much easier and quicker????.
Some great posts and research Lionel, What we also have apart from the 2 tests is the IP on how these tests are developed , and as it seems to be ticking all the boxes this surely can be used to develop other tests , no brainer.
Tiger the FACT is nobody outside of the company know what is going on other than we will be raising money in the near term to finance FDA application , and to keep the lights on . Everything else mentioned on here either by you or others is speculation or educated guessing, you have mentioned many things that might/could happen but produced no proof or evidence to support your claims, FACT.