At $24 million mkt cap CYP is a stupidly cheap stock.....by any measure, page-10

Which is exactly why you might read this when you open up your brokerage account:

52 Week High $0.445
52 Week Low $0.130

Management was guilty of the same criticisms as it is now, as it was at $0.445.

The big difference for me, is I wasn't buying or holding at $0.445. The understandable frustrations of many is they were, and even higher.

Take emotion out of it. Do the math on the company. Its a little subjective. Look at its balance sheet. Put a valuation on its IP. Put a valuation on its existing trials, particularly the largest funded IPSC phase III trial in the world, funded by the government. Put a valuation on its future funded trial, funded by Leiden University. All of that way, way over $24 million. Now, much harder, look at cash burn and the potential eventual forward earnings of CYP in knee OA particularly, post a successful trial, and apply a healthy probability of failure on execution, and if you don't get well north of $24 million, I'd check your math, because Sumitomo did in 2019 and came up with $200 million, when CYP was far less progressed in its trials (it admittedly had a very healthy relationship with Fujifilm at that time).

Whilst Sector appears to be gone, his MSB antagonists remain. Ironically their possible success in GVHD has to be considered. If MSB finally gets it right with the FDA (and I am invested in MSB, so I hope so) then the probability of regulatory and eventual commercial success for CYP and IPSC's, vastly improves.

Whilst silly people have been bashing handbags, the backdrop for CYP already has improved. Gamida (who I had been on in the US and have trimmed to buy CYP amongst others) at least according to the reports, has been granted the first FDA allogeneic stem cell approval. There have been a bagful of IPSC treatment IND's granted by the FDA recently. And the recruitment under Sydney University's management of the Sculptor trial has been plodding along.

Management have under performed and have been tardy, as I said above, and yes their snout at the troughs, just like any other Board or C-suite team you look at on the ASX (people have no idea). But they are not inept and the trial results that will drive CYP's regulatory success being run by very professional clinicians and researchers.