PIQ proteomics international laboratories ltd

1.41%

36.0¢

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87 Posts.

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01/03/23

18:43

Post #: 66545549
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Originally posted by Eqz: ↑

I just find it really concerning that Richard and his team continuously fail to deliver on what they say.

2018: Roll out of PromarkerD in Asia & China -> No results
2018: Roll out in the US via PrismHealth -> Terminated the agreement
2018: Roll out in Dominican Republic via Omincs -> No results
2018: Roll out in Mexico via Patia -> No results
2018: Roll out in Spain via Patia -> No results
2020: Roll out in Italy via Medical Horizons -> No results
2020: Roll out in Israel via Zotal -> No results
2021: Seeking FDA approval -> No results or updates
2021: Roll out in the UK -> No results
2022: Deal with Sonic announced -> It's been well over half a year and they still can't finalise it.

Granted I am only pointing out the failures, the team have also made a number of achievements which does deserve credit.
But when it comes to PromarkerD there is just too much of a track record of failure by Richard and his team for me to feel comfortable re-investing here. Endo & Oseophageal Cancer testing is interesting but many years away from commercialisation. The revenue from analytics arm is not enough to offset the burn by management and revenue has been mostly flat there. Without FDA approval on the IVD, they are limited to LDT tests which must be performed in SONIC CILA labs which significantly reduces market penetration, couple that with a relatively low cost test and even smaller royalty %, so the revenue potential is quite mediocre in the near term. Looks Euroz report, they have ~2year+ run way for cash flow positive once after they finally start commercialising.

My opinion only.

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PIQ Price at posting: 98.0¢ Sentiment: Buy Disclosure: Held
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