There is nothing fishy at all. Until the Kyocera deal was sealed, RGS was half hibernating, cutting costs: they moved their office from Pymble to a small place in Paddington, had to let go off some of their best staff, and co-founder / CSO started to work elsewhere to save money and pay the bills. I think very few people realised how dire the sitatuation was before Leo Lee got the deal. Once the deal was signed, the team got back together. One of their most promising scientists, Dr Sinead Blaber got back, and Prof. Graham Vesey was able to re-accelerate the R&D with the Kyocera money. The real story here is Sygenus. To achieve full commercialisation it requires trials (enters ADF) and more research ($). The Kyocera deal is/was centred around Progenza and will lead to manufacturing and commercialising it. Awesome, but it will take another 2 years. Any new funds, well done Karolis Rosickas, will mainly be used to accelerate Sygenus. CR or not, an institutional placement is a great way to get funds now and push Sygenus, which has even less competitors than Progenza. For those interested in a SP at $0.50-0.75, Progenza will help to get there eventually. For a SP at $2+, RGS needs success with Sygenus. That's why I think today's announcement is so important. It shows RGS is not content with Progenza/Kyocera only but are aiming much higher.
RGS Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
