Quite right CrabCancer, but their inference is made by using 'current' figures with projections out to 2018 and 2019, that the immediate/current time frame is also in play or relevant.
IMO 2020 to 2025 is still a stretch to get any treatments fully tested and approved, that surely has to be an 8 to 12-year process, at least for human applications?
Anyway, the time frame is not the major negative IMO, it is Dr Melrose himself, and what succession plan there may be.
Then there is still 'Portison' lurking in the shadows, despite some indicating the Chemeq IP all lapsed, that issue remains alive and well for me until ASIC gives the "all clear" - the whole situation, at least officially, has been suspiciously quiet!
Again, I am a big fan of the technology and believe we NEED it, or something similar, for a raft of reasons - however I remain (clearly) dubious about the commercial risks currently on the table and the seemingly unrealistic promotion, which is probably designed to ramp the price ready for a massive cap raising - which by any assessment, they will need.
The only possible alternate is for a major equity partner to come on board, which will be (most likely) at the expense of current holders.
Cheers
Cabe
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