Hi guys,Commsec EPS forecast for 2014 is 3.9 cents, and 2015 is...

Hi guys,

Commsec EPS forecast for 2014 is 3.9 cents, and 2015 is 16.4 cents. This represents a forward PE ratio of 8.7 and 2.1 respectively. It mentions the analyst is Bell Potter. Does anyone know any information on the assumptions for which these forecasts are based? Is it just based on CE Mark approval for VitroGro and sales to begin in EU in 2nd quarter of 2014? If so I would assume there's a decent chance that CE Mark won't be granted within that time frame, or else the SP would be much higher based on those earnings projections. The announcement on 5th August regarding the EMA review start date stated:

"The EMA data review is a desk audit for which Tissue Therapies is well prepared. No onsite inspections are involved"

To me, this sounds promising, especially with the MHRA advising the EMA that VitroGro is a device. Yet there must be considerable doubt about the outcome, if those EPS forecasts are to be believed, assuming they are based on EU sales only.

I'm new to posting, so go easy on me :)