RAC - Charts & Price Action, page-11912

I recently started to think of analysing companies in the Past, Present and Future format.

Past- where they have been in the past few years. How have they used their resources, strengths, overcame their weaknesses, generated revenues/ profits, grew the business given the market opportunities.

Present- All of the above, but in the context of the present i.e., the story is intact or improving.

Future- The company is positioned to grow in the future given the investments in R&D, Capex etc that will set them for exceptional growth in the coming years. Their moat is strengthening and not eroding. Their revenues/ profits will be exceptional going forward.

If we see Race through this lens:
In the past Zantrene has undergone human trials, approved to be used in humans, proven to be safe and effective. In the last 2 years mgmt has leveraged the FTO finding, cardio protection opportunities etc to set up the company for the future thru investing in proving the drug in the clinic today and also putting some real bells and whistles such as peripheral/ oral formulation, biomarkers. The investments into R&D, IP protection, Pillars 2 & 3 etc set us up for blockbuster growth in the future.

Some people are stuck in the past. Some people see today without the benefit of the past trials which derisk the drug. And some cannot see the future because they are unable to connect the dots and have a bit of imagination and trust in the BOD.

Just my take on thinking about companies and particularly high growth companies.