New research report from Evolution Capital, page-10

You still just don’t get it ICE. For me this is not about commercialisation right now, it’s about the underlying intrinsic value of our asset that is worth billions in the hands of our competitors. This “proven” by the best Dr’s in the business and irrefutable results to be the best in class (by a long shot) asset is currently valued at $225 million USD.

Irrespective of when or if our valve gets commercialised the fact remains that right now we own an extremely desirable, extremely important and strategic asset that everyone (key KOL’s and key competitors) knows is miles ahead and it’s significantly “cheap”.

How long it takes for the price to catch up with value or how that happens is anyone’s guess. But all we can do as a company is keep taking the steps we need to. The EFS is that first major and significant step that allows us to get closer. Maybe after EFS we go for Breakthrough Device Designation for VIV.

I bought (topped up) significantly when we were just a $20 mil MC after successful SAVR implant because I knew the underlying asset was just too cheap no matter what happened. I did it again with the options at $8. One could argue that with the advancements we have made since those times the company is even more undervalued today that it has ever been and perhaps less risky.

Time will tell but for now (IMHO) this is an asset play and if it turns into a commercialisation play with time all the better.

As always DYOR and Not advice.

I would ask yourself this question. If you were Edwards CEO - What would you do or spend to acquire a device that could seriously disrupt the majority of your $47 billion company revenue streams in the future. Then ask yourself if you were an EDW competitor- MDT CEO or any other aspiring TAVR player CEO what would you pay to own the best device in the market?

Here’s a clue - It’s many multiples of $225 million USD and that’s why such a large specialist healthcare fund in the US like Perceptive is our major shareholder (why else would they bother?)

Our asset is extremely valuable and that value is not yet recognised in our SP. And that asset value is not even including the value of “Adapt” that could be used to make a 3D mitral valve and God knows what else apart from what we know already.

Time will tell - DYOR and Not advice