Ann: PolyNovo presents at Macquarie Australia Conference, page-51

Then you’ll probably be missing quite a few millions for not understanding your investment in pharmaceutical/medical shares.
Why is the SP being so heavily punished? Simple fact is growth hasn’t met market expectations. Why is this important is the simple fact that BTM/MTX only enjoy a very limited patented window. PNV needs to grow and establish its branding and product as fast as possible. Every quarter/month that it does not achieve such aggressive growth means we are closer and closer to when cheap Chinese/Indian generics will enter and/or large pharmaceuticals will enter with their massive deep pockets, large marketing and sales force and channels to disrupt a minnow like PNV. Essentially, the margin that you guys chirp about will shrink.
So unless PNV can quickly establishes itself as market leader, build up a large cash kitty (patent period) to be able to defend its market share.
sorry to burst your dreams but this is a tough tough market to be in and you either become the big fish or you get swallowed whole (Take over) or kicked out (lose market share and leave).
I believe my growth target is valid is more than fair. 60+%coming from existing staff (18mths+ service and based on Ed comment that 4 customer per sales to be driven up to 10+ and cross department reach within same hospital) and 20-50% from new staff added (6-18 mths service and gave them some discount based on some of the new hires might be only 6 mths into their jobs).
To simply look at the 50% growth and be satisfied is ignoring that PNV have had lots more foot solders on the ground to aid our course and organic sales growth from existing soldiers. No offence to kick’s model but maybe it needs to be updated to reflect that the company is a lot larger and it’s target needs to reflect this fact.