i stupidly bought it around 12c as i liked the business idea and i think it ultimately has legs as a technology, but i bought the story/ product without doing my due diligence on the managemebmnt and the past history.
the skeptics here are right, i was deluded that the ce mark was impending but now that the company has acknowledged the need for the pilot study before ce is granted, we are at least 12mo away from any approvals.
the pilot study is not just about recruiting 20 pts and testing short term safety, it is about demonstrating oncologic efficacy. this will take at least 12mo from the time the last patient is recruited.
then we hve to wait for data analysis, results to be submitted to the governing bodies, then teviewed, then if everything goes absolutely perfectly, ce mark and later fda approval may be granted.
im thinking 18mo is an optimistic realistic goal at best.
the problem i have, and it appears many share this experience, is that the constant announcements suggesting the ce mark will be granted within the next 3mo-6mo (check announcements back over several years if you dint believe me) were realistic and deceptive.
management should just take the pr hit and say that they are confident of ce mark approval but:
1) h2 2018 is a realistic goal
2) given the fact that clinical data is almost non-existent, there is a very real risk that this treatment may not be effective.
i sold out a 9.3c and took the hit, but i feel it was the right thing to do. ill consider buying back in 2018 at what i suspect will be a considerably lower price, given the fact that a capital raisingwill be necessary within 12mo prior to results and thus prior to any major upside.
good luck all.
OSL Price at posting:
8.1¢ Sentiment: Sell Disclosure: Not Held
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