Re: The MD@A for the period ending July 31, 2017
posted on
Sep 14, 2017 10:37AM
If we are talking about "if things go well" I guess the first thing would be to define what "if things go well" means. Does it mean the sun comes up tomorrow? a positive FA? or in 3 or 4 years are billions of dollars of Apabetalone being sold? 5-7USD for the sun coming up tomorrow is probably a bit rich but just as probably very light should Apabetalone be selling in the $billions. I think Narmac's and BDAZ posts are probably the most insightful so far this morning.
I think it is too bad management decided to dispense with the EV chart from a few presentations ago. To me that was one thing they did well and it provided shareholders and potential shareholders with some idea of what management thought the EV of RVX would be at various points of progress. IMO the chart was well supported by the unmet need, the NNT, the discussions with payor groups and the large and growing potential market. Did management think the chart was erroneous or are they just embarrassed that their business execution is so poor that the market cap is no where close to what their EV estimate is. Sadly IMO just another example of a mediocre management's inconsistency.
I hope management addresses the change in the language surrounding the timing of the futility analysis. Not holding my breath.
Koo I would remind you again that the Zacks valuation of $6.50 was a current valuation at the time of writing not a target price. Further, that valuation was for where the company is with CVD and assigned no value for renal or orphan indications so not sure what that has to do with "if things go well".