Originally Posted by
NT001
Yes Snaps, I agree PEB could have some explaining to do there, although as one who has run or helped to run businesses in a fast-moving sector (not this one) I'm very aware that things outside one's control often happen unexpectedly. It was hard enough keeping board members in the loop, let alone shareholders. And I was a member of the Institute of Directors, with profound respect for the fiduciary duty owed to shareholders I was serving, who included a venture capital investor.
But listening to DD in his presentation last week I recalled what it was like, juggling numerous balls in the air as head of a not-large company and having to be able to modify strategy very fast - something NZ companies are reputedly good at. I thought DD did an excellent job addressing issues over a wide range. Okay, PEB have stuffed up on a couple of issues, but that happens. And we can always attack him for beginning every answer with "Yes that's a very good question". His PR advisers probably told him to do that, and does it matter?.
But from his presentation overall I was satisfied things are broadly on track (even though the track ahead is never clear) and I'll be taking up the capital raising offer.
Another thing not all shareholders may appreciate is the complexity of the cancer diagnostics and treatment business. As one who has recently had cancer experience and been using Google to keep up with the specialists treating me, I'm very aware that approvals of new treatments don't happen as fast as we'd like. But that's to be expected. The medical bureaucracy has a tough job keeping up, especially when approving the expenditure of public money.
The number of new treatments and diagnostic tools now becoming available globally is mind-blowing. And while there is room for many of them to be adopted to a limited extent, far fewer will stand out and become the standard treatments based on efficacy and price. Not based on how hard they are promoted by big Pharma. The specialists (and medical bureaucrats) know that big Pharma is less interested in curing patients than in keeping them under longterm expensive treatment. So I disagree with those who say PEB would de better by being taken captive by big Pharma.
It's a complex environment, and I think the CxBladder strategy is admirably constructed to achieve success.