To The Naysayers, page-4

Derham, I have no idea how Mr Market will value these. I suspect it will pump the SP up and be met by a wall of selling. Probably not a good idea to by on the news, should it come.

What I can tell you, and you can check out the charts yourself, is that SRX some years after being granted CE and a PMA (2002, in the US and a good step up from an IDE), and making profits was valued as under $100m in 2010. For much of the 2006 to 2010 period it was valued at around the $150-200m mark. Profitable very year with quarterly dose sales increasing quarter after quarter for many years. Doe sales are still increasing year on year at about 20%, albeit the last announced results were a disappointment to the market with a little less than the anticipated 19.7% forecast increase. Profit was up thick end of 50%, but its dose sales that count in this game.

If you check out the early results from the founder, Bruce Gray, you will see some pretty spectacular results. Unfortunately the big trial results announced last year did not replicate such good results. Oncologists don't give much credence to small trials as it is too easy to be selective. They want to see phase 3 randomized trials in the hundreds of pts. For an OS benefit to be clinically significant they are looking for over 1000 in the trial.

A CE or IDE is only the first small step on a very long path to commercial success.

I wish you well, but it is speculative. If one appreciates the risks and takes a punt then all good, but some research on the SRX thread may be beneficial to get some idea of the trials and tribulations many of us have been through over the years.