The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Imho you need to separate the product/ technology(Xenoview) from the company/BoD.
The technology is acknowledged as being a breakthrough in scanning by all those research sites that have trialled it.
The company is acknowledged as being:
1. Clearly, with a US-centric strategy, listed on the wrong market.
2. Incapable of commercialising the technology.
3. Incapable of communicating effectively with shareholders.
4. Incapable of recognising 2 & 3 above.
Imagine if you were Bastiaan Driehuys, the inventor of the technology, with 12m shares….watching them go down the drain…..
If the last investor meeting is anything to go by, those questions may well be asked, but not answered.
No doubt considered a ‘triumph’ by Stifel and Walbrook PR (who allegedly act on behalf of the company) that meeting illustrated exactly how to over-promise and under- deliver.
It confirmed for me, that although Hullihen was a nice, knowledgeable engineer, he turned out to be a completely hopeless CEO.
Hence the company’s currently dire position.
Posted by ‘goldbutler’ on ADVFN:
—————
Polx 15.0p
Polarean interim half year report is due out in the next 3 - 4 weeks.
- any exclusive or non exclusive further collaboration / partnerships with other
MRI manufacturers
- any similar deals with CRO or Pharma drug trial companies
- up date information on reimbursement application
- information on further research to clinic conversion
- any revision to sales figures targets for the next 12 - 24 months. How many
centres of excellence and other hospitals are in discussions.
- information on international Europe , Canada , Japan and Middle East markets
either directly or via joint ventures
- The UK of course is an open application process in 2024 for companies with FDA
approval. Polarean already has research sites Sheffield university , Nottingham
and the EXPLAIN study with Oxford OUH in long covid.
Amati boss in one of his interviews has expressed his exasperation at the
company's refusal to market in UK and Europe with the quite obvious opportunity
of Xenoview and long covid. Perhaps Polarean should agree to Philips having
exclusive rights in UK and Europe. The private health providers in England
n.Ireland Scotland Wales must surely be a target sector as well as NHS.
Certainly appear to have loyal Major Shareholders - in the absence of any TR1s tomorrow…which is surprising given:
Their over-confidence; bad luck/bad timing/ incompetence re FDA; underestimation of the commercialisation requirements/timeframe; abysmal communications from co./PR/NOMAD; and listing on the ‘wrong’ Index.
As posted on ADVFN:
‘The biggest contributor to this fall was Polarean Imaging. Having obtained FDA approval for its new lung imaging technology in December, the company conducted an ill-considered attempt to raise further funds on AIM in February which didn’t succeed. The 15 month delay in this approval was largely caused we believe by one of the departments in the FDA not being able to get the approval work done on time following lockdown ending, due to lack of staff, a large backlog of cases and site inspections, and reduced efficiency. This delay was not only very expensive for the company, but also meant they reached the point of wanting to finalise a financial plan for commercialisation at a time when market sentiment has deteriorated greatly. The uncertainty over funding has caused the shares to fall significantly. We are encouraging the company to make its existing cash resources go further and to consider all of their strategic options’.