I agree with you there but at the end of the day Spectral is doing the same via locking down distribution rights in other countries already so they are positioned well incase of a no from the FDA. The issue I have with cytokines as does the FDA is the fact that there are so many variations of them. Some of which are naturally occurring and some that should not. This creates a lot of complexity as to the proper dosing, effective removal of the proper cytokines and potentially adverse safety effects which go along with that. This will come to light during larger blinded studies.
The way I see it, Spectral is 5 years ahead of Cytosorb. One must ask why cytosorb has moved towards endotoxin removal if Spectral really wasn't on to anything? Worst case scenario which again I highly doubt as there is nothing in the pipeline sooner than 5 years is that the FDA outright says no and let's countless more die versus an approval or at least a conditional approval monitoring the effectiveness of PMX in different subgroups. If some other treatment was already available and hundreds of thousands weren't dying each year I would have to agree with you but the fact is, there isn't, many are dying and no other FDA approved treatment is coming anytime soon.
Even if Spectral does not achieve approval, which again, I highly doubt. Their EAA is extremely valuable along with their SAM pump and I suspect they still get bought out regardless so the EAA can be effectively sold and distributed by a larger company with an inside sales force. Make no mistake, there are large, well known companies interested in purchasing Spectral but this won't happen until we see the FDAs verdict. When this happens at worst I suspect a buyout in the range of the current share price plus or minus 25% and if an approval is granted we could see a $5-7 USD/share buyout overnight. With a conditional approval I suspect $2-3 USD. This is based on a newly analyzed target market of about 80% to what it was after the subgroup analysis. Everything depends on where the FDA approves its use so if it's greater than the 80% initially suspected then obviously it warrants a larger buyout. Vice versa with a reduced market.
With return potentials at 700-2400% from the current share price and downside risk protection with the Value of EAA along with the Sam pump, it's a good play.
Everyone can think what they like, but to say this is a dead stock, you really need to educate yourself and like some of you have said "know and understand your competition".
