Got in yesterday at $10. I was actually surprised it got sold...

Got in yesterday at $10. I was actually surprised it got sold into... didn’t expect $10 to get smashed.

Could still go down further but who knows, sentiment can change

Anyway, the reasons I bought are:

1. It has a low MC (~70 million) for a company that has an FDA-approved product in ADAPT

2. Wayne Paterson as CEO & MD - has extensive experience in biotech (more than 20 years), even sat on the board of a NASDAQ-listed company.

3. If their transcather product works, they will have the most novel aortic stenosis treatment in the world. What do I mean by this? They will have a:

a. material (ADAPT) that doesn’t calcify

b. 3-D anatomically correct valve that promotes better haemodynamics due to its wider opening and therefore less pressure and wear and tear on the valve itself (also prevents calcification). Also needs way way less stitches compared to the current valves that are implanted - this is due to it being single piece.

c. a cathether that hopefully is also novel (i have to read more about this). TAVR is currently being performed worldwide and it does allow patients to recover quickly post-op. If you ask healthcare professionals working or have worked in cardiothoracics, they will tell you that open heart surgeries has plenty of risks compared to TAVRs. Imagine cracking someone’s chest open vs a 40 minute procedure where all the surgeon has to do is insert a catheter in the femoral vein, thread the catheter to the heart and replace the calcified valve with a one-piece valve using a few stitches and the patient could be discharged the next day. In open-heart surgeries, patients sort of “suffer” post op and have to rehab for weeks. Yes I have seen them struggle and in pain.

4. Cashed up at the moment and has a back-up funding from the Mercer deal.


Tick tick tick tick for me.

Goodluck.