This valuation is comical for the externally funded trials CYP has on the go already, let alone its prospects for commercial partnership. DFU's a massive market and one that is almost embarassing for Australia and the wider medical fraternity that like military field surgeons of some bygone era, they often have little more to resort to other than amputation of a limb (they are something like 80% cause of all foot amputations):
Diabetes is the "defining disease" of the 21st century.
The Lancet estimates that more than 1·31 billion people could be living with diabetes by 2050 worldwide. It is both a massive market and a massive pressing need. No way the big boys unaware of CYP's study therein - could be that's what that EOFY buying was. Why not pick up a little 4.9% before you announce a partnership that would send the share price rocketing and then negotiate in a nice little placement to boot?
Irrespective, its a case of when, not if CYP announces partnerships in many of the (often already funded) irons it has in the fire.
And before the usual down-rampers chime in, there was a
little partnership of similar ilk announced last year:
https://www.businesswire.com/news/home/20230313005402/en/DnaNudge-Forges-Strategic-Partnership-With-Mylab-Discovery-Solutions-to-Deliver-Next-Generation-Point-of-Decision-Diagnostics-for-Diabetic-Foot-InfectionsAt a pathetic $37 million mkt cap, it wouldn't take a partnership of much magnitude to propel CYP's share price seriously north.
Oh Sumitomo, wherefore art thou....?
(20min delay)