expected trial results, page-3

IMO, the trial results are the least important of all upcoming major developments. We know VitoGro works based on tests on a live artificial skin model and then a trial with difficult patients. Also the effect of VitroGro on the healing process is well understood. I understand that the current trials are more of a low-risk administrative process for the European approvals. Hence I do not expect a huge price change on the trial results.

By far the biggest impact will be from developments relating to de-risking of VitroGro sales and marketing in the major world markets. Hence the US device classification (1 month?), partnership agreement (1-4 months?) and European approvals (6-9 months?) will be the really big impacts on share price. Once all of this happens, some of the recent analysis envisaging EPS from $0.50 to $6 will look much more likely.