MSB Trading 2020 - a new dawn, page-6378

If you look at this opportunity as a traditional investor then its hard to argue with your perspective.

Obviously investment opportunities are the sum all their idosyncracies and this one just happens to have multiple that are asymmetric to the upside based on cutting edge medical technology (revolution rather than evolution).

Add to that the off label opportunities and the 14k patients in the USA alone increases more than organically. Naturally a yes in the USA makes it easier to obtain a yes elsewhere globally.

Contextually, $30m profit for a disproportionate cap doesn't make sense from a bean counters perspective, but bean counters don't create the sum of the world they simply count the sum of world - the former is the domain of pioneers like SI.

The length of time MSB has taken to get to this point and the cash it has burnt, is not atypical in this market segment, therefore all things being alike, where we are at is very normal. That said, some companies make it some others don't.

The reason the share price is not higher, is bio is far more difficult to condense into an investment opportunity like BNPL companies. When the investment crowd understand the underlying value proposition.... which is likely to be more aligned to balance sheet perspectives than those that see the massive potential future opportunities, the higher the price will go.

Naturally, its a fine balancing game of reality and optimism.

Right place, right time, potentially right products!