Everything has risk- oncology and cancer is an area that 98% of small cap companies will fail you have the 2% that may succeed. I dont specialise in these areas so i dont know what the chances are like
however i like our odds as we have Dr Chris Roberts as the CEO and this guy knows what his talking about
OSL technology/treatment is very advanced, the fact it got pushed back and not a straight rejection, is an opportunity imo to buy for the "2nd chance" prior to the submission the stock was 16c so effectively you are now buying in at -54% discount even better if you took the 2.1c low -87% discount
the fact that on the day it disappointed the market the SP recovered to hold 5.4c from a low of 2.1c shows it just got oversold due to "panic"
now all the panic is over, and the "2nd chance" presents itself at a -54% discount , i say why not? the 5.1-5.5c level has been very well respected over the the whole month and has just moved higher and broken that down-trend on Friday (director buying sparking interest)
nothing has changed since then, it just needs to be "resubmitted" imo. Management is confident it should have passed. CE MARK imo is not a great deal, FDA is boss of all submissions. US MARKET is the big one.
I paid 6.7c and have a ST target of 10.5c.
If some random person was the CEO of the company I would avoid this sort of play as i dont like things falling -80%+ in a day it freaks people out however with Dr Chris Roberts (Ex CEO of COH, ex Chairman of SRX) i have confidence this will turn around. Market cap is a tiny 46m with 15m cash. EV of just 31m.
below is the weekly chart.
Cheers
TraderRR
(20min delay)