RHY (ASX) Ann: RHY 2022 AGM Presentation

Originally posted by SteadyEddie: ↑

I was one of the few at the presentation - only about 6 retail investors and another 6 in suits. I'm not sure if that is company specific or reflecting the general lack of interest in biotechs at present. Glenn Gilbert has been unwell - so Otto Buttula went through the presentation - same content as other recent ones.
Question time was more revealing.
Current numbers of faecal screening annually in Australia = 5 million. Cost to government at present approx $200 per test = $1 billion annually. 40% of eligible population getting screened. Cost of test manufactured by RHY - alot less than $50 - no figure given.
Time lines for TGA submission - they have been in contact with TGA - the file has been opened - no questions coming back. Typical times for TGA have been around 6-7 months - and as other s have said on other RHY threads - it can take longer.
Regarding deals in Australia - they are talking to different players including Sonic and Govt. They are confident of getting a favourable deal signed once TGA approval given.
NZ regulatory approval - why aren't we selling there now? They could have signed a deal already - but discussing pricing at board level - no hints at what this might be, but the old price of $50 per test came up again. no indication of likely price per test going forwards, but he implied RHY might be able to charge more in some countries , but if a price is set in one country it may affect prices to other countries and there is issue of guarantee of supply.
Are there any serious competitors? Otto answered that there are no other companies with a simple blood test in the market. The other companies mentioned in a recent presentation are largely faecal based with added genetic markers - so still hurdle of faecal testing plus expensive genetic testing.
CE mark - why aren't we selling in Europe now? CE mark is just the first step - you still need specific regulatory approval in each country and it is thought that the TGA approval might fast track any further approvals.
USA entry? There are precedents of many lab tests not needing to go through FDA approval - there is another regulatory board that has a much lower hurdle and the board are confident of being able to get approval maybe in 2023.
Revenues? The board are confident of getting revenues in 2023 - but weren't any more specific. If you do the maths in Australia 5 milion patients x $50 = $250mill revenue - just for Australia ...!!

Overall the vibe was very positive - the board at least have confidence in the product and after 16 years of development feel they are so close to commercialisation. They own and manufacture 4 out of the 5 biomarkers that the test is based on. The other interesting information is that the simple addition of the patients weight and height input with the test raises the sensitivity from 83% in study 7 to over 90% - that is huge and not something I have come across previously.

I came away very positive - but recognise that it is a waiting game at present. Once Colostat is making money they are confident that the same process can be applied to other cancers.

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Fantastic summary there SE
Might I add that after all those successful trials and as life saving as ColoStat is we are now at the Pre Revenue time with what is a new market product so to speak and with that comes many many time consuming challenges for market entry.
TGA approval should give us a reasonable rally but I am allowing a good six months before we see any real revenues.

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Last updated 14.09pm 16/05/2024 ?

Fantastic summary there SEMight I add that after all those...

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Fantastic summary there SEMight I add that after all those...

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