RE:RE:RE:RE:RE:1 Patient enrolled per month..I was not truly asking for MM calculations as there are dozens he's posted here that get more riduclous with the passing of each million dollar month.
The question of assigning it a value is not the question at hand. The question is how we see any value with this management and their approach?
In April the Tigris trial will be 3 years old. So, 50 patients in 33 months. an average of 1.5 patients a month.
Some would say Covid is the reason for such terrible recruitment numbers. But we've just seen them admit to 1 patient per month over the last 2 months- and that is with 16+ sites, without Covid disruptions, during a historic flu season.
At 1 million dollars a month it is unsustainable. Each time they raise money they dilute the stock by roughly 10%.
At the 1.5 per month rate it would take 66.6 more months to finish the trial.
That 5.5 years. At 4.5 more raises.. with a loss of 10% per- it is unsustainable.
If you ran it with the numbers for the last 6 months from the AGM to now- it averages 2 patients per month. That would take 50 months to completion. 4+ years and all the dilution that goes with it.
So my honest answer is- we can't get there with this management.
They tell us how well their "confrence calls" with sites are going- when for months we've been asking for Kellum to have boots on the ground- going from site to site and like it matters, and make sites feel like someone actually cares if patients are enrolled. I mean this is supposed to save lives after all!
It is not working. The numbers are black and white. Leadership needs to be replaced for not recognizing/ caring and righting the ship/ doing their job.
It is now the BOD job. Before Management's lack of ability causes this to be sold off for pennies on the dollar.