Long time holder, first time poster on this stock.The 4C was...

Long time holder, first time poster on this stock.

The 4C was pretty much right on the money from my perspective. Extrapolate out with some back-of-envelope assumptions, Q-on-Q growth of 15% (conservative with Menicon yet to contribute meaningfully), costs increasing at 3%, and you reach CF+ in the first quarter 2023, with being able to spend roughly up to $7M of the cash balance on clinical trials and development.

Good situation to be in.

The fundamentals of this company are attractive IMO:

• Distinctive and protected tech
• Huge market opportunity
• Established distribution in multiple countries already in place
• Revenue consistently coming in the door
• Sensible management - COVID response was first class
• Multinational partner, with the potential of more partersnhips to come (J&J)
• Strong support from Thorney - they seem willing to throw money at this whenever it is needed.
• Extremely attractive as an acquistion for a larger player should management see the right deal on the table.

Share price is annoying, and the consolidation hasn't (yet) delivered any benefit, but this was always a position that was going to require patience.

I'll be adding to my position at these levels (or lower as weak hands get tired of waiting) when I can.