Given the history of this management, it’s prudent to assume there will be no FDA approval in 2027 either. However, whats clear is that the outstanding share count will be close to 3B by end of 2028.
There wont be approvals in any other jurisdictions including Canada and EU in 2025 & 2026 either. So, I expect a ton of dilution and disappointing revenue from UK quarter over quarter for the next couple of years. Plus, there is no money to run a trial or two in an efficient and expedited fashion. All of this means, the endless dilution continues and share price will stay in penny land.
Why would any new shareholders trust this management when LP has had a history of wiping off shareholder wealth for over a decade or more? The same thing could happen to them by 2030. Even if someone were to take a risk and invest now, the best strategy would be to sell a large chunk (if not all) on UK approval spike given the history of this group. Only if a big pharma were to inject significant non dilutive cash at UK approval then it would make sense to stay another year or two for a potential buyout scenario. Otherwise there is no exit path. And the management will continue to wipe off new shareholder wealth too with excessive dilution, lethargic execution, and bad strategic moves.
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