I don't think many of us are expecting only $22mill. What a broker sticks on their report doesn't change the surprise factor for me. $22mill REVENUE would be a very disappointing result considering CASH RECEIPTS was already over $16mill end of quarter 3.
It's pretty obvious how they've calculated it. They've taken the $16mill and added monthly run of $2mill to the end of June. Really pretty amateurish.
Petra Capital has initiated coverage of Alexium, page-53
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