As an example...SIGY
Has an market cap (60 M USD) that is approaching that of Spectral (99M CAD )
While the MC's are comparable, there is no "Dialco" equivalent under Sigyn Therapeutics. (ie. one trick pony vs multi-trick pony)
So what do they have ?
Sounds like an "idea" somewhat supported by a
Pilot study Sigyn Therapeutics Inc is a development-stage therapeutic technology company. Its focus is directed toward a unmet need in global health; the treatment of life-threatening inflammatory conditions that are precipitated by Cytokine Storm Syndrome and not addressed with an approved therapy. Sigyn Therapy is a novel blood purification technology designed to mitigate cytokine storm syndrome through the broad-spectrum depletion of inflammatory targets from the bloodstream. Cytokine storm syndrome... In the last two NR's they define a
$ 20 Billion market opportunity for their blood purification device (from what I can see the same market in which Spectral defines their potential targeted share as being only about $ 1.5B)
Moreover - apparently it's not clear that Spectral's filter is even on their radar as a competitor ! CTSO's is for sure. Perhaps Spectral's is as well (see below)
The President's latest NR should be a VERY interesting read for Spectral Shareholders (key exerpt below)
https://stockhouse.com/news/press-releases/2021/01/12/sigyn-therapeutics-sigy-ceo-note-overcoming-the-limitations-of-previous
Based on our cumulative experience in developing first-in-industry medical technologies, we designed Sigyn Therapy to overcome the limitations of previous strategies to treat cytokine storm related conditions, yet still optimize patient safety and support widespread deployment.
As anti-cytokine drug mechanisms are limited to single cytokine targets, our focus was directed toward overcoming the limitations of two industry pioneering devices that are market cleared and broadly deployed to treat life-threatening inflammatory conditions outside of the U.S. At present, both of these devices are being evaluated in the U.S. as candidates to treat severe COVID-19 infection.
The first device incorporates an adsorbent bead to address inflammatory cytokines that circulate freely in the blood. However, this device does not address endotoxin, which is a potent activator of cytokine storm syndrome. Conversely, the second device depletes the presence of circulating endotoxin, but does not address inflammatory cytokines. The cytokine device underlies a Nasdaq traded company whose market value is ~$385 million. The endotoxin device is among a family of products marketed by an OTC traded company valued at almost $10 billion.
Since establishing ourselves as a public company on October 19, 2020, we have made considerable progress in collecting relevant data that reinforces the prospect of Sigyn Therapy overcoming the limitations of these products.
__________________________________________ Some interesting questions for this board (and perhaps the Board) to contemplate.
Who is the OTC $ 10 B participant? Toray?
What makes SIGY a worthy competitor that can command a market cap similar to EDT?
What limitations have they overcome that Spectral has not?
Why should speculative dollars for blood purification devices end up in the market cap of a Company that has an "idea" and is no where near a product that has gone through RCTs in the US?
Would their product not be more difficult to bring to market if Spectral's PMX became the SOC?
Doesn't Toray not have a filter that removes both Endotoxins and Cytokines?
Furthermore, hasn't it been proven that endotoxins are a precursor to cytokines and in fact the removal of endotoxins results in the reduction of critical and nast cytokines such as IL-6?
Why does SIGY suggets that CTSO's filter is less worthy thatn SIGY's "idea", but yet it has close to a $ 500M CAD market cap?
They are leaving the door open to the idea that both "competitors" are candidates to "treat Covid-19"?
Just asking.
MM