RE: The damage a crap CEO can do is frightening and needs resolving quickly22 Jan 2024 12:00
Speaking as a Brit, in my personal opinion:
I don't think many British patients or doctors would be willing to use OBD's tests if Nigel Farage were the one selling them.
Still, involving him might not be a total waste. A test warning Brits they're at risk of associating with Farage would absolutely fly off the shelves.
On a more serious note:
Private healthcare providers in the UK have to record events on NHS patient records, just like NHS providers do. Our National Health Service, via the NDRS Cancer Registry, is likely tracking use of OBD's tests in its routine data collection from NHS patient records, potentially as N:1 (single patient) trials. If testing improves real-world patient outcomes, this should inform further study by our regulators, and lead to an NHS-backed trial.
In contrast:
A pre-market test cohort big and varied enough to pass regulatory thresholds might have required additional financing, potentially dilutive to equity holders, or delayed launch long enough that OBD were beaten to market. I believe this soft launch is a deliberate strategy, and on balance, it's a reasonable approach.
Sadly, the core issue for me isn't the results themselves.
I don't trust OBD's CEO anymore, so recent hires that share history with him aren't the confidence boost they otherwise should be. Maybe after a full quarter with a sales manager, spring will show some meaningful revenue?
I'd settle for a path to profit backed by non-dilutive finance, but if we're expected to pick up the bill for being misled, it will take replacing Diggle to restore my confidence.
I'm holding, but this was only a punt for me. Not sure I'd trust them with a meaningful amount of my money.