Ann: Preliminary Final Report and Full Year Accounts, page-21

The results shouldn't come as a huge surprise amidst what is one of the toughest global economic environments in living memory. More to the point, with penthrox as core business - clearly there was always going to be a significant impact on use of the drug and sales in keeping with a reduction in trauma events related to social isolation measures (eg. reduced motor travel, sporting activity, recreational activity etc).
There has been a bit of mudslinging in relation to a lack of perceived progress this year on this thread. Others who have been here longer than me and know the business in more detail may have valid points. What I have seen over the last year is some fairly significant inroads into the european market with an expectation of further countries to add to the list in the coming year. The product is now a recommended first line agent in the european guidelines - a huge deal and massive overall market. Yes european sales have room to build but these things do take time - from addition to the formularies all the way through to general acceptance and use amongst the medical community/first responders etc - this will happen in time. China and the US are frustratingly slow, I struggle to understand how MVP can fast track its approval process any further amidst the covid pandemic - a very unforseen and unprecedented time to try to get a drug approved (when many/vast majority of available resources are focused on the covid pandemic). It is what it is - frustrating - but it will happen with time. The US timeline seems particularly unreasonable given the length of time penthrox has been in clinical use.

Keep in mind the following in relation to penthrox: a drug that has already been developed and proven, backed by 40 years of clinical use (on real humans!), needs no further R&D, has a definite clinical niche and significant clinical need, offers many advantages over other drugs currently in use (cf opioids), easy to use, streamlined production process in place, good margins, "moated" (patents and production process), massive global market. All that is required is to roll it out worldwide and get over a few approval hurdles (in frustratingly two of the largest markets)

Good luck to all longterm holders who recognise the metrics. For the short-termers it is a good time to exit as your money may be put to better use elsewhere over this timeframe - it will be seen by the rest of us as an opportunity to top up our holding

Sentiment Buy, disclosure HELD