The cult are a bit angry today. I mean, angrier than normal....

The cult are a bit angry today. I mean, angrier than normal.

Might be a case of “is that it”? In response to the preso which was hyped up to 11 out of ten. Hasn’t been that much hype since the last preso.

As I stated 6 months ago, no approvals for years. Seems like from today’s news that might be a bit longer than I thought. Well, the only ones surprised were the cult who, I think, honestly believed a few months, if not 15 days. But, they also believed Novartis would consummate the relationship right up to the last moment too, so there you go.

The other big news, was (if you can believe it) no cap raise. With the SP approaching half a buck you wouldn’t wonder. Needs to be around $1.40 for a raise above a buck. Hard to see that.

So, instead, they are going to try and raise dough by a give away of revenue. Wow, with the dodgy track record of over promising and under delivering, the market correction, bad trial data, and balance sheet desperation, more class actions than stem treatments, you’d say you’d rather be negotiating from the other side. That’s going to be some expensive cash.

In any other company, you’d say just sell the lot and walk away, because the revenue cost would be too high. But one thing SI is very very good at is squeezing hard earned from investors. Pity those poor brilliant surgeons ( although they probably won’t mind a tax benefit).