AT1 FY21 - General Discussion + FA, page-213

@dguru88
From my PoV, AT1 is my first healthcare sector SmalCap stock, so can't help with direct perspective you want.

Having said that, we do have past SmallCap stocks in other sectors that have become MCap/LargeCap over last 7-10yrs.

Just speaking from my partner + my investing experience in these other stocks - talking what makes a gr8 company - the most difficult & risk-of-always-tanking-portion of any SmallCap is its beginnings...as it has to dev its IP into a commercial & marketable product, prove its potential, grow its business core, get right partners, right investors, build brand new manufacturing base, deal with regulation, deal with exchange market flux, international biz rules, import/export requirements, branding, marketing etc.

The start task list is extremely long with no guarantees...and I have hesitated for a long time to come into SmallCap HealthCare due to the enormous risks in this sector. Just AU regulatory & the enormous scrutiny healthcare usually has here is a big enough hurdle to cross.

Speaking from my partner + my discussions, AT1's path so far has v strongly and v solidly displayed how a good company is grown from scratch. When it IPOd, it actually had already successfully passed through all of the initial company building task list...it actually came to IPO to grow to next level...and us retail SHs completely avoided that first 10yr dangerous portion.

On avg 5-15% of new AU healthcare stocks fold in first few years (if I recall correctly).....others stagnate for decades. Only very few AU health stock with unique IP/innovative tech have grown into giants/upper MCap levels...its due to our ASX market size (a minnow), lack of past AU govnt healthcare investments (now changed dramatically in 2020), and that global healthcare has long been dominated by well established goliaths from extremely large, well funded markets (USA, UK, EU, Japan etc).

AT1's road ahead is still long...it has to build that post-Covid19 product & revenue base...whilst same time maximising the Covid19 potential because its a 100yr rare event for this much focus to be on healthcare stocks, everywhere!

If it can make a lot of extra money, grab share, build its market presence & get more longer term partnerships tied into its device IP....it has a good shot at rising into MCap over next 3-5yrs. The challenges only grow more complex, the more successful and larger the company becomes, so its always going to be difficult (healthcare even more especially due to the river of money + strong competition flowing into it nowadays).

If AT1 can stay nimble, ahead of relevant competitors, keep innovating & disrupting, keep it fresh with relatable/marketable products and stand true to its design origins....it stands to build v well on 2010-20 foundation...which is why I stay & keep watch...