1.) Wayne projects a very professional, very experienced, knowledgeable and positive vibe. I've worked in corporate for years, and I can tell you people who don't know what they are doing are not typically able to pull this off.
2.) Straight shooter about staff in the wrong company.
3.) Great details about how sales staff are performing and how tightly and well controlled scaling up needs to be from this point.
4.) Info about Vascucel and why no updates, resource constraints.
5.) Important, very important, information about addressing company values and culture. I was also impressed that he addressed his own incredulity when "he was a younger executive" about such things. This shows introspection, self-awareness and growth. Class act.
6.) Clear timeline for details on HSV-2 report. April
7.) Announcement of "collaboration group"/"company" announcement "soon"
8.) Confident of moving HSV-2 vaccine to phase three. 58% result "excellent".
9.) TAVR looks promising. Clear licensing opportunity here, which I like. ADAPT treated, best in class.
10.) Access to TAVR experts to guide design
11.) Total for prototype: $100,000 USD with lodged patent
12.) Possible risk with cycle testing on TAVR, but low risk. Just being open about it.
13.) Adelaide hospital contract - delayed by 6 months. Has affected forecasts by about $1m
14.) More possible infusion contracts in discussion. Couldn't announce any at this point.
15.) Wayne only has 897.5MB of free space on his Mac. Needs to clean that shit up. Very important!
16.) Revenue Growth WITH PROFIT on infusions.
17.) Getting ADAPT word out poorly in past. No changing.
18.) Wayne did a Mea Culpa on Vascucel launch. Not enough resources to launch, sales only at 3 people. Not indictment of the product.
19.) Only two months to get VC through FDA.
20.) Volume orders now coming through.
21.) Significant contracts coming in. Does take time however, new product time to hospitals, takes a few months.
22.) New sales team in place with resources to get the job done in Q4FY
23.) Keeping expectations in check about India and China. Regulatory processes take time. Teamed up with distributor.
24.) Q3 calendar year to get started.
25.) Saudi Arabia can be tricky, but one of the biggest regional markets out there.
26.) Mexico accepts FDA approvals so should be able to launch.
27.) New VP from Roche for sales in Europe. "Knows how to do Europe"
28.) "Mess in Europe" pre code red appears to b fixd.
29.) Opening up nwe territoris in Europe
30.) ADAPT 60 degre patch incoming. Highly unmet need. 95% of design verification
31.) Cheap to register as new change.
32.) 85% of surgons spoken to would us the product immediately. Presumably, surgeons already using ADAPT products.
33.) June plannd for first human use. All come about sinc code red
34.) 45% reduction in unit cost of
35.) Renegotiated supply contracts for ADAPT
36.) Big jump in quality of product. Reduction in visual defects. Higher pass rates.
37.) Added key staff, but dosn't anticipate adding heaps more staff as w grow.
38.) Good talk over the board members, covered how we have to compete. Sounds legit and interested in the company.
39.) Portfolio champions. Matched to their specific domains of experience.
Elephants in the Room:
1.) ROI in Immunothreapies: Was a tough question. Hard to say, but very very excited with the move from phase 2 to 3 for HSV-2
2.) All restructuring in Code Red completed? Yes, most likely.
3.) Costs will increase, but most exceptionals washed out.
4.) CFP+? Still standing by previous numbers
5.) CR? Will there be one? NO. "I will not tap our long suffering share holders for anymore of their money"
6.) Board has a very clear plan for future funding on vaccines. Not much info right now.
7.) Will we ever get the share price over $2? Much bigger ambitions than $2
Yes, I think it is a different company now.
AHZ Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
(20min delay)