If I put myself in Bell Potters shoes i'd be pretty unimpressed...

If I put myself in Bell Potters shoes i'd be pretty unimpressed with Starpharma.

After BNO and MSB have been dumpstered by the market their eyes should be well and truly on Starpharma to revise their predictions.

https://starpharma.com/assets/downloads/Investor/180130_Bell_Potter.pdf

Things that they would be unimpressed by is the delay indicated in bold. "Key catalysts for 1QCY18 include a) licensing deal for VivaGel BV; b) initiation of Phase 1 trial with SPL/AZN’s AZD0466 which triggers a US$3m milestone, c) initiation of Phase 1 trial with DEP cabazitaxel and d) launch of VivaGel BV by Aspen in Australia.

I do not beleive much of the delayed projects had been factored into their share price predictions(If any), however does the significant delay put doubt about the partnerships in its entirety.

I certainly do not beleive the rubbish that Starpharma is putting out regarding the delays of launch in Australia, Christmas time would be a very significant sales cycle with product additions to the shelves. If Aspen has not sorted out Vivagel for their product line for the Christmas product cycle Starpharma needs to provide shareholders with a more acceptable answer for the delays. If Starpharma is aware of another reason for the delay holding back the information especially at an AGM is surely criminal and if somebody gets burnt while holding, based on false information may want to seek justice.

The same is true for AZD0466, it clearly looks to have been delayed for a reason we have not been provided,

"We are persuing a number of high-value commercialopportunities from Starpharma’s DEP platform with partners and look forward toreporting on these throughout the year. In particular we look forward toAstrazeneca’s first DEP product AZD0466 entering the clinic" Quarterly cashflow report 25 Jan 2018. Statements like these without providing a reason for delays leaves Starpharma open to legal repercussions if a shareholder suffers from it and it is proven that Starpharma had information that a delay was going to happen and they failed to update the market. I believe even in the 2018 annual report there are issues with conflicting timeframes being identified.

I beleive I could find numerous examples of poor communication such as the ones identified and if Starpharma is proven to have had contradictory knowledge while posting their nonesense or have failed to update the market we could all suffer for it.

If the Astrazenica partnership or the FDA denies Vivagel in the US Starpharma could be in for a huge SP drop and large shareholders could look for their pound of flesh.

My four large concerns are 1.poor communication from Starpharma, 2. AZD0466 being dumpstered or delayed for reasons unknown, 3. FDA denying Vivagel for the US market, 4. Receiving a poor deal for Vivagel in the US even if the FDA approves the product.

My sentiment is none as I cannot decide at present if the share price is acceptable for the risk at hand in the very near future. Not sure if the Risk/reward payoff is acceptable however I am holding at present.