Opyl could only ever afford to commercialise one asset given the cash position of the company, so divestment was its best strategy, and that was obvious back in late 2022 when TrialKey was accelerated.
Opin is the right platform to divest right now as revenue probably doesn't cover the cost of maintenance (even though the team is half what it was six months ago) but it does have a gold mine in data that will be worth something to someone, and trial recruitment businesses are hot acquisition targets in the US (Continuum Clinical, EmVenio, Clinical Site Service - all acquired this year).
TrialKey is yet to deliver revenue after almost a year as a 'finished product' and will not provide much R&D tax incentive moving forward. Loosing all of the clinical trial expertise with the sale of Opin, following the exit of Robertson and Gallaher last year, is another point to consider. so the pressure is really on to get sales.
OPL Price at posting:
2.2¢ Sentiment: Sell Disclosure: Held
