Bell Potter have covered Starpharma for a very long time now and have appeared to allow Starpharma to provide some of their research.
The link below is for an almost 12 month old recommendation however as Starpharma is a biotech and it moves slowly typically it still has value in my opinion.
https://starpharma.com/assets/downloads/Investor/180130_Bell_Potter.pdf
It seems clear to me Bell Potter expected more from Starpharma this year similar to a lot of us here. As 12 months has passed there are some areas requiring adjustments up while confidence in other areas would be low enough to adjust down (launching condoms into Japan for instance and launch of Vivagel into non-US markets).
From what I can see Bell Potter expected or possibly still expects a 25% royalty on sales for a good portion of Vivagel sales. It would be very interesting to see the followup valuation to see if they still remain with that expectation.
I think enough events have occurred to warrant an updated recommendation and perhaps they have already done so without me knowing.
I would also not be surprised however if they were just waiting for some other announcments to come out that they had expected for a considerable amount of time now before updating their model for public view.
I hope Bell Potter updates their recommendation for analysis soon for the added benefit of the many.
I'll change my sentiment to Hold upon reflection as the risk of not getting a US partnership has been removed.
I'm still nervous about the FDA decision however, I consider it the most important decision of the year.
