CU6 - Media and Industry News, page-937

From AT:

"We expect the AMPLIFY trial to complete recruitment in 2025. We expect the CLARIFY trial to complete recruitment in 2025".

And this gets disclosed in an interview with a find manager? How could anyone consider that the speed of recruitment for these trials - which represent the fastest path to revenue for Clarity - is not price-sensitive? Yet, not only is there no price-sensitive announcement, there's no announcement at all.

But then we get an guesstimate of revenue timing as 2027 - 2028. For diagnostic products - which require no extended follow-up periods to assess safety or efficacy, and for which fast-track designation has been obtained - it makes no sense for it to take a further two years after recruitment has been completed.

We also have multiple examples of where AT has responded to shareholders that the company announcements are the source of truth when it comes to any uncertainty or conflict between material on clinical trials websites, the company website etc ..., so unfortunately the lack of any timing announcement to the ASX seems to trump what gets said in a fund-manager interview. Not a single update to the number of patients already recruited in CLARIFY in 15 months, but then he drops in a fund manager interview that recruitment could be completed in 2025. Makes no sense.

It seems the thesis remains intact. Clarity may well have potentially the best science for diagnosing and treating prostate cancer, but it is three-ish years away from revenue, and at a time when its trial activity (and therefore expenses) are going to go up exponentially.

And while AT notes that Clarity has $100m and is not raising capital immediately, he also notes the importance of the share price at the time of raising capital. Even with $100m, this is only 12-months away at best. $18m burnt in Q4-2024, with only one Phase 3 trial active. How does he get a SP jump prior to the raise?