Good points aruc but that's exactly the whole point of investing in small caps, it's the uncertainty of outcome which allows us to buy at a lower end. If there were no potential "red flags', then we would be buying an established profit generating company with mediocre gains.
We can't ignore the fact that COVID has hijacked the medical communities attention for the last 12-13months, there is no doubt this has significantly impacted PIQ's ability to market and commercialize in certain geographies. The company has stated many times in each annual report that penetration and adoption will be slow, Euroz highlighted this fact in their coverage report. It's simply unrealistic to believe all we need to do is sign a commercialization partner and sitting back waiting for the millions to roll in.
If you look back, it's very clear that Richard and his team are learning through out this whole process and I believe that explains some of the delays we are seeing. When I look at the management team - Renalytix has the upper hand, thus they have been able to move so quickly with their KidneyIntelX test, despite their CEO just recently dumping several million dollars worth of shares on market (raise any eyebrows?). But the data speaks for it self for PromarkerD, we are moving slower but my bet is we will get there.
As a long term holder, I have seen time and time again PIQ taking hits only to recover stronger. You can sit on the sidelines waiting for every risk/flag to be covered but I guarantee that you will be buying at a premium.
The company didn't appoint a CFO and CCO to sit idle on their hands, while there is no surface news or market announcements to shareholders, it's only logical to assume wheels are turning behind the scenes. I would urge caution to speculate on Janssens position until Ph2 is complete, ultimately whether they sign or not, it does not raise any eyebrows on the test - there could a number of different reasons they are not interested (disagreement on royalties, rights, marketing, etc etc). It's clear as day the test has high accuracy and provides value, the clinical data clearly shows this, read them.
(20min delay)