OSL Corpse, page-24

This is my assessment too. It will be a good adjuvant, and it will be used.

The product will eventually be reimbursed by private insurance and then national health programs. I think the Nigel Lange contribution is as much in getting private insurance approvals in Europe as much as it is private sales. Sirspheres were approved before significant studies, and so will this. Even more likely, because this will actually replace external radiotherapy, so there are cost substitutions. Sirtex were actually adding a technology where one didn't exist before.

The big opportunity/problem, in my mind,is their approach to the USA.

You see, this company's actual value creator is not patients with LAPC. It's actual customer is a bigger company who might buy them out.

The company should partner the USA. If it partners, it will immediately validate the technology, move the costs of FDA approval to a big company with the resources to do it quickly and effectively, and the share price will rise dramatically on that announcement. Even if its not a great deal in terms of royalties and up front.

If they think they can manage Europe and Asia, then keep that. The cash they have can be used effectively there.

If they are hoping for an independent run at the USA, they are dim. Sadly, cash in the bank is often a bad outcome for shareholders as companies are allowed to continue to make strategic mistakes.

So there's the real binary outcome for this company's shareholders: USA partner deal - massive SP rise; no USA partner deal - undulating response in the unimpressed market to things like further approvals/insurance reimbursement and private sales.

I wonder why the institutional holders don;t tell them the same thing?

Sirtex made the same mistake with China. Wong thought he would go it alone, and he cost shareholders a massive increase in value by not doing a partnering deal. And instead, they were taken to the cleaners with no Chinese value in the takeover deal. By the Chinese.