COPY and PASTE…….A small portion of an article that came into view this morning
Dr Boreham’s diagnosis Rodne says that as a company focused on a single re-purposed drug, LTR Pharma is a simple story to understand.Spontan also addresses a high unmet need, with an estimated 322 million of the world’s blokes estimated to suffer erectile difficulties.Of these, close to half are in China, which might explain the nation’s sagging birth rate. Australian blokes can’t exactly stand proud, either, with the condition affecting more than 60% of over 45s.The value of the erectile dysfunction market is estimated at US$4.52 billion, with the US accounting for 30% despite having less than 10% of the sufferers.The market is expected to grow to US$6 billion by 2028, despite what Rodne describes as a complete lack of erectile dysfunction treatment innovation.While LTR Pharma is an easy-to-understand proposition, there’s no plan B if Spontan fails to gain market approval or flops at launch.An unexpected rival could also emerge, but Rodne believes the coast is clear.The endgame for LTR is unclear – it might go all the way to market on its own – but it would be stiff for the company to fail at this point.After all, Spontan would seem to be a great way for, say, Pfizer, to re-establish patent life on its famed blue pill.
At a glance ASX code: LTP Share price: $1.205 Shares on issue: 153,901,979 Market cap: $102.17 million Executive chair: Lee Rodne Board: Rodne, Dr Julian Chick, Maja McGuire Financials (year to June 30, 2024): revenue nil, loss of $9.95 million ($1.45 million deficit previously), cash of $3.1 million (up 79%) ahead of $10.5 million capital raising Identifiable major shareholders: Rodne 34% interest, Strategic Drug Solutions 3.8%, Trexapharm 2.7%.
Disclosure: Dr Boreham is not a qualified medical practitioner and does not possess a doctorate of any sort. He doesn’t have a Job-like quotient of patience, so will ensure the dishwasher stays off at the crucial moment. This column first appeared in Biotech Daily.
LTP Price at posting:
$1.24 Sentiment: Buy Disclosure: Held
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