Just to put some context on this push by Otto to achieve some commercialisation success off the back of the CE Mark being awarded for ColoSTAT. His other main interest, Oncosil, scored its CE Mark early last year but has failed to pick up any momentum from that. From memory, 8 or so months after getting the CE Mark but with no commericalisation resulting the then Oncosil CEO was gone. Another 10 months or so with still no commercialisation and the two main directors were gone and Otto was installed as the chair.
As has been pointed out to me previously, Oncosil's product and Rhythm's product have nothing in common and there are good reasons for the slow uptake of Oncosil's product. But the fact is that being granted a CE Mark creates a wave of momentum and if a management team manages to catch that wave there is tremendous advantage. From his experience with Oncosil I think Otto is throwing the kitchen sink at commercialising ColoSTAT off the back of the CE Mark being awarded. My own view is that while the company is not expecting the cash to start flowing until late next year we will most probably see the first of multiple regional deals being announced a lot sooner than that.
Am I the only one seeing this?
RHY Price at posting:
$1.66 Sentiment: Buy Disclosure: Held
