Cash and burn28 Jan 2020 19:50
Hi everyone, in answer to earlier comments re dire price trajectory, in my opinion this is mainly down to very scrappy contracts being signed and high cash burn compounded by overpaid senior leadership (based on market benchmark anyway). There's hope in that the product seems good and there's a large market, esp if lung screening eventually takes off in the UK (or at least England) following the Mike RIchards review, but public programmes can take a long time be agreed and in the meantime Oncimmune are burning through funds acquired through loans. Would be great to see much more pragmatic (and regular) updates from the board about how they're managing this risk. Their annual results presentation was more akin to something you'd see at a sales conference (see the ASX's VHT for comparison in this regard). A naive move which doesn't instil confidence in those holding out for a return to 2018 prices. Save the context setting and the spin for the shows, treat investors with more respect if you want to hold onto them, would be my advice if anyone's listening.
Interested in others' thoughts.