No urgency at all but once the results of the EFS become known Medtronics and Edwards will likely be interested in acquiring AVR rather than partnering.
Shareholders can’t have it both ways. Of course it would be great to hold on and go for the ride but this would come with enormous risk, huge capital requirements and a walking start up against multi billion dollar entrenched incumbents. One lesson we learned from the tissue business is that clinical superiority is sometimes
not enough to guarantee success despite the enormous advantages of DurAVR.
While it may ultimately undervalue the company I will take an $800 million to 1 billion takeover from here (min 13x) any day over the risk of incessant capital raisings (it costs a lot for a TAVR pivotal trial for PMA) and the execution risk that would bring.
So I will support the company in whatever needs to happen but a decent takeover would be a nice way to finish this journey.
Just IMO and Not advice.
Who knows how this will play out but it will be fun being involved.
CEO presentation - one of the best I have seen., page-39
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