Unilife has clearly come a long way from its early years in Australia. For you long term holders I don’t know how, or why, you have held on. From many posts on HC, Unilife has a long history of being on the cusp of greatness, but just quite get there, very frustrating and I have only held since 2010.
Now we have specific guidance that we will see 12 to 13 announcements of revenue generating agreements with customers before the end of 2013 and will not need to raise significant additional funds. This guidance- without hesitation or qualification- has been reiterated numerous times over the last 6 months. Only two deals have been announced with just over two months remaining in 2013 to announce the remaining 10 or 11 deals. I’m not saying that all these deals won’t be announced, but the clock is ticking.
I would like to call on Unilife to provide a clear update on the status during next quarterly call on the deals still pending; i.e. if some deals have been lost to competitors and have any new deals emerged this year. I can fully appreciate a long deal cycle and the difficulty of forecasting time frames not in your control, however saying you will sign 12 deals and then only signing 9 or 10 is being optimistic, saying that you will sign 12 and only signing 2 is misleading. We deserve some visibility into the future prospects for the company that we have invested in.
Based on Alan’s reassurances that deals are coming I remain optimistic but I am beginning to become more cautious with the continual delays and lack of visibility. Much can be shared publicly without violating confidentiality or revealing trade secrets.
UNS Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held
