Would be great to get the partnership before the AGM. Might be a bit of an ambitious target, but I do see it coming very soon regardless. Then it will be game on for 2RT and this stock.
Looking forward to resuming trading tomorrow and getting the announcement. The fact they are releasing this one in the morning and not the afternoon is a promising sign. I am definitely thinking this policy change will be very beneficial in the long run. iTrack Advance can still perform the traditional form of canalopalsty, whilst no other devices which I am aware of can. I guess this relates back to the versatility of this procedure, in that the range of potential future applications is unlimited. Omni etc. were designed solely for ABIC, whereas iTrack was designed as a microcatheter, and adapted to be used in ABIC. This versatility will help secure it a spot as the dominant canaloplasty option. Whilst there will be some customers in the USA who will be lost, we have the base effect in our favour. We are starting from a low revenue base of $17m, with a brand new product set to drive significant growth regardless (still covered by several MACs and many private insurers and we still have very favourable CPT codes). We also have a significant presence overseas, with China becoming a very promising market for iTrack. We can lose a few customers in the USA and still grow significantly. On the other hand, SGHT was maturing, slowing growth and no new products. They also are 100% reliant on the USA. Unlike EYE they won't be able to offset lost customers with new ones. Even worse for them, they have a large loan worth $35m, with a covenant related to reimbursement, so they are likely to default on that loan. It looks to me as if their story is coming to an end, and EYE is about to take their place on the throne!
I see a very bright future here. iTrack Advance will continue to grow sales and will be profitable soon enough. 2RT will score a massive deal in the near term, will get FDA approval and will go on to join the wet AMD treatments (all fetching valuations in the 10s of billions of dollars) in the very lucrative AMD treatment market, as the first non-injection treatment and first ever treatment for the intermediate stage of the disease. The company will reinvest cashflows from iTrack Advance to continue to pursue innovation, developing new and improved products to continue to grow and expand the company into the long run.
At just a $30m market cap this is incredibly cheap imo. Market is clearly not pricing in any future growth for the newly launched iTrack Advance, nor is it pricing in the enormous potential of 2RT (explained in the 2RT thread) or the R&D pipeline. Not sure what the market needs to see to price this correctly, but I am sure sooner or later a big fish is going to come a long and take a great big bite if it remains this cheap for much longer!
EYE Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
(20min delay)