Article from AFR is worth a read - Why picking ASX biotechs is...

Article from AFR is worth a read - Why picking ASX biotechs is (mostly) for the crazy brave (copyright link)

David Williams makes a big call saying that 20 of the ASX listed biotech's will fail before June (wonder if we are on that list?!). A few authors on this forum have said that financing is getting harder. 20 failures within the next 2 months seems extreme, but Williams does have significant industry and must be confident making this point.

Other things that jump out... other than the cash flow point:

1. 'The presence of large corporates or well-known fund managers on a company’s share register is one form of endorsement we look for, especially the multinational fund managers with vast teams of analysts'. This has been raised before by someone and it is a worry why we don't have any fund managers / large corps on the share registry).
2. 'we hate it when companies spruik too much'. We are guilty of this.

We are certainly in the 'Disallowed or bust' category. We have to deliver now, or it could be game over.