Taking stock of recent announcements

Rhythm has put out a clutch of announcements since 30 November. Let me sift through them for a common message:

On 30 November the company announced that ColoSTAT had been awarded the CE Mark. The announcement included this quote attributed to Glenn Gilbert, the CEO: "Rhythm is currently assessing its commercialisation options to market ColoSTAT® into Europe." (my emphasis)

On 1 December the company announced that Glenn Gilbert had been promoted to MD and Otto Buttula will take on a full-time role as executive chairman but is quoted as saying that he views the "executive [that is, full-time] function for the Chair to be a short-term, but important role to provide further executive corporate support to the Company as it enters several critical commercialisation agreements". (my emphasis)

On 13 December they announced the appointment of Dr Rachel David to the Board of Directors (Big ESG tick by the way) and Otto is quoted as saying "With Rhythm in the midst of a major commercialisation drive for its initial diagnostic product ColoSTAT®, Rachel’s vast experience ... offers the perfect skills necessary to complement our Board."

Then on 14 December the company announced the five cancer types they intend to look into but they assured the market that their focus remains on ColoSTAT commercialisation and that "the Company is ... in several discussions in relation to regional commercialisation opportunities".

For me, Rhythm has been crystal clear and gun barrel straight in its messaging: both GG and Otto are currently up to their eyeballs in landing in the short term several regional commercialisation agreements in Europe. The Company does not give any indication of when it expects these deals to be landed but it does say in its presentation of 10 November that it expects first revenue to begin flowing in "late 2022".