is there a production problem?, page-7

GD, 20 percent of 300m (conservative down from 340) is 60m less 30% discount is 48m divide by 2 (50% share) =24m less production and sales costs.... ? 15m - some very basic sums but that still doesn't look to bad for me. Am I way off somewhere here? If thats a worst case then it still seems an OK situation and I'll be happy to be surprised on the upside re Fonda market penetration.

Upside with Fonda is approval for ACS, filing for approval in europe next year or better than 20% market penetration. reddy's are more focussed on pharmacies that hospitals but pharmacies are the hard bit, hospitals are large single source buyers and will be easier to get sales systems up and running.

But the real deal is HA.Phase 2 SCLC and phase 3 colorectal have a better that even chance of approvable results IMO (given the excellent phase 2 colorectal results) and the huge returns available if they are is pretty exciting. They seem to be on to something with HyAct and as I understand the original developer of the platform is still with the company, a good sign.

In hindsight I wish they'd raised money 2 years ago and started the trials but at the time agreed with their cash saving non dilutionary conservative approach. Hindsight is a wonderful thing.

Hopefully the next 6 weeks will see funding sorted and the trials started before end of October, again any earlier would be a pleasant surprise.

The update today was what many of us wanted over the last month and I put a post up asking why they couldn't do a letter to shareholders but PS obviously wanted to do the annaul first. I agree it's scripted but the info is pretty well conveyed I think. Some will wait for confirmation re funding and method and others will wait longer for Fonda sales but I'm happy to be committed at this stage with the current associated risk level.

Best of luck to all of us.