Celsion Corporation (CLSN)

[Antti]

Yes, it does. But I assume it's going to get a lot busier once there are some definitive news like when the company announces the start of the interim analysis.

Anyway, I hope you will find the company interesting and decide to stay. Would love to see some of that quality discussion on our board to be transferred also here.

After all, IMO the size of the opportunity is almost similar with this company, even thought the indication and many other things are different.

However, there are some similarities too. For example their previous phase 3 (that too 5 years to complete) didn't succeed seemingly due to wrong treatment parameter (non-standardized heating time). That was a clear mistake but it made a bit more sense after listening the management explanation. If I recall, they were told that the heating time is usually left to doctors to decide. Since naturally the doctors should want to heat the tumor enough because that alone has a benefit. And the doctors know the patients best so they can take individual characteristics into account. So it was quite easy mistake to make in the previous trial IMO.

So now, after another 5 years of running the second "confirmatory" phase 3 trial, we are finally almost at the finish line again. And this time we have a luxury of knowing the previous phase 3 results, which should lower the overall risk considerably. And the reward has stayed basically the same since there hasn't been any competing breakthroughs in the HCC treatment in the meantime.