Ecool posted the following on Yahoo and it is hard to disagree with him. I would add an update on Ryoncil treatment results to date would be useful as would a Ryoncil sales projection!
"Great bounce, but just staying near the bottom of the miserable range we have been trading in. Even at $A1.76, we are below the 50 day moving average and are just back to where we were 3 weeks ago before the DC created a bit of panic selling into the low.To blast into a new quartile, above $A2 we need more buying, and that only comes with new info.
SI has the ability to update the market and create some certainty to bring in buyers, even if just to explain whether we have had the Type B meeting or whether FDA delays require more waiting.SI is just not up to the job. Markets crave certainty and he has elected to drop quarterly conf calls and still hasn't appointed a permanent CFO. This is bad management.I talked this morning about potential revenue from the interest on the $US160m CR.
We have $US182m sitting in bank deposits. Great financial decision, that, bank interest!I said that maybe they could earn 5% interest on this money. Obviously they could also pay off debt on the $US47m 9.75% Oaktree debt and the 15% NovaQuest debt. We recognised over $US20m in interest expense and amortisation last year. SI hasn't brought shareholders along and explained how these financing decisions are made - why is it better to have $US182m sitting in bank deposits while we are paying up to 15% interest rates? How does he make these financing decisions? Does he look at how different financing structures affect ROE for shareholders? What is the target ROE? Does he get it? He shouldn't be CEO."
MSB Price at posting:
$1.74 Sentiment: Buy Disclosure: Held
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