Hi All - just a couple of points to make:
1.
On LEAP technology being inferior - that is some strong conjecture. The fact that Exopharm has collaborations with 3 leading organisations would suggest otherwise. Ultimately, the tests that will be performed under the collaborations will demonstrate whether LEAP can truly deliver commercial-grade yields. Dixon and his team are confident (and passionate - as you can see via their SM posts), but let's see.
2. Exopharm has produced no phase 1/2 clinical data on their exosome therapeutics - yes, that is true and is readily acknowledged by Exopharm on their website and investor presentations ... which I don't imagine some people are actually reading. The medium to long-term vision is to commercialise exosome therapies, however in the short-term, the earnings opportunity comes from collaborations vis a vis LEAP, EVPS and LOAD (hence the 'picks and shovel play' here).
3. Baldwin left due to bleak prospects - very likely
not true. See below link - Baldwin has partnered up with the previous head of Experimental Biology (Ranja) to setup a new biotech (Mermaid Bio). Having complete authority and 50% claim over future earnings are very powerful incentives to leave an Executive position at most companies. Net, I'd have to agree with Coolkiat on his comment above ...
Finally, I'd just add that Codiak is now valued 5x vs Exopharm and Goldman only sees further upside to Codiak's share price. On a relative basis, we are under-valued and I see the share price properly re-rating once one of the current collaborations turn into something more substantial or a deal is made similar to Codiak-Lonza.
I'm not betting against Exopharm here...
https://www.northdata.de/?id=4729304748392448
