SPL reminds me of Kenworth Trucks. Operationally run terribly...

SPL reminds me of Kenworth Trucks. Operationally run terribly inefficiently, but still cranks out money due to a fundamentally strong and in demand product.

How is that similar? Well, I think that SPL has got something good and no matter management's inability to hit timelines, at some point they'll get runs on the board. Fortunately it isn't a binary outcome like other biotech of yes/no to phase trails on one product.

I am looking forward to the AGM this year and bringing Jackie's words from last year back to haunt her 'I just don't think retail investors have the patience to investors in companies like Starpharma'. I raised this comment to Alan Kohler a while back, who scoffed and said how utterly ridiculous that comment was based on the fact it is institutional investors who are far more likely to move out of a stock based on missed deadlines and delays.

My overall view on SPL, is to stick my holding in the bottom draw and not add/reduce position based on noise. If the investment thesis breaks down, I'll sell, otherwise I'll just hold on and add to the position if and when products are actually released to the market.