Thoughts from Australia. More than just "lock them up" and how much lobster "THE MARV" consumes.
Plenty of blue sky but really is a slow burn.
Ultimately the real value inflection point is proving safety and efficacy in humans and they are some way away from that. In the interim what I would expect;
- StarFish Medical are building the Mag Sense device (outsourcing this device development was the smart approach) and were engaged mid August. No timeline for development was provided but you would expect them to at least have design specs and concepts locked down before the end of the year and clinical prototype manufactured not too long after that.
- Thereafter you would expect them to move to the breast cancer clinical trial design, possibly meeting with the FDA to get what feedback they can on that trial design, and then move to clinical site recruitment and patient recruitment. You'd expect announcements as each of these occur. They said in July this year that they were aiming to kick off this clinical trial within 18 months.
Once that breast cancer trial kicks off, you would expect news flow about prostrate and ovarian cancer diagnosis programs. With the MagSense device already developed, it would then come down to unique Nano formulations for each. Not quite as simple as that but you get the idea of what's possible, with potentially 3 product streams, once much of that earlier heavy lifting is done.
In terms of news flow from out of left field, hard to see what could happen aside from the announcement of any successful non-dilutive grants (hopefully they've applied for some although they shouldn't run out of cash!). Board looks solid, but they maybe they'll appoint a medical advisory board with some heavy hitters if they don't already have one? In terms of TO it is far too early stage for a major to be sniffing around just yet (imo).
I like this space but the listing so far has been disappointing particularly given some of the people behind this and they didn't seem to have any challenge raising the cash. The EV did make it tight and then with the big dumper on day one, coupled with poor market support ... and here it is lingering not far off the pre-IPO seed price.
Disclaimer - I haven't spoken to anyone from the company since pre-IPO so the above are just my guesstimates based on publicly available information, hope this helps.
