The population for the US is about 328 million. The percentage that are lactose intolerant is about 15% 30 to 50 million.
Lactose intolerance manifests itself in varying degrees. In my wife's case ANY milk products in an ingredient list such as milk, milk powder, whey, whey powder will likely result in gas, gastrointestinal distress, and mild to severe stomach (gut) pain.
Usually these ingredients are found after the fact. Many processed foods that you would not expect to contain milk products such as hot dogs, breading, soft breads, soups, gravies, canned goods all contain whey or milk products. When symptoms hit you read the label.
Of the 30 to 50 million that have lactose intolerance only a small percent are severely intolerant.
If only 10 percent are severe enough to seek a 'cure' that would leave 3 to 5 million in the US as prospective customers.
Certainly not a huge market but enough for a reasonable investment.
When we bought the original product it came in a plastic container that held about 64 oz of powder. It was pricey. I think over 100$ for a product sold only on the internet by an unknown company. The only reviews were testimonials from those that tried it. I can't imagine what it will cost after paying for FDA approved production facilities, approved protocols, clinical trials, etc.
Annual spending on over-the-counter lactose intolerance aids in the United States has been estimated at approximately $2.45 billion. I have no basis other than a SWAG to estimate RTTR would be lucky to capture 25% of that with a cure as opposed to a treatment. 500 million would not be a bad market.
You are right on your post. I was being a bit of a D---.
They will partner or sell out to a consumer pharmaceutical company and eventually seek OTC approval after several years.
I invest in other bio companies and based on what I have seen this company probably will not move much until May when phase III results are due. Then it will either go away or the product will make it.
The recent 6 million private placement was probably to avoid "on going concern" language in the annual report. They need to have a years operating cash on hand at the time of the report.
FWIW the company has a product that works. Whether it makes it (back) to market is still open.
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