I've also asked myself those questions and can't understand the sell-down today.
According to the announcement, the trial was unambiguously positive and "demonstrated the effectiveness of VitroGro ECM in healing chronic, complex, persistent venous ulcers that were unresponsive to a protracted period of expert care with current state of the art treatment."
"Expert health economics modelling indicates that VitroGro ECM offers the opportunity for more cost effective treatment of wounds that the current standard of care".
"Detailed planning for the start of VitroGro ECM sales in the EU during the second quarter of 2012 is almost complete."
"The validation data from our new, larger scale manufacturing process....will be available during December 2011" and this is "the final piece we need for CE Mark" (EU approval for sale).
"We already have approval from an EU Notified Body BSI, for an accelerated review which takes 45 days".
"We anticipate announcing a commercial partnership arrangement this month".
"We have more than enough time for a second quarter 2012 sales launch in the EU".
Today's announcement in my opinion significantly de-risks Tissue Therapies going forward, notwithstanding that the market does not share this view on today's trading thus far.
Regards,
Goggo
TIS Price at posting:
55.0¢ Sentiment: LT Buy Disclosure: Held
