"Nearing 90 patient interim enrollment"Interesting part of the Feb 2023 presentation the above quote. They also said "Tigris trial (52 patients have been randomized to-date)" which has a gap nearing 38 trial participants. So I'm wondering if they have almost (close to, approaching, within sight of, etc - pick a word) 90 now enrolled of which 52 have been completed. Given the greediness and the fact that June 30 is not far away perhaps our motivated team are now pulling out the stops to reward themselves? Intesesting possibility.
These are powerful words in the presentation. In terms of the EBITDA it's a good measure. They have really no interest costs and amortization of their costs would be negligible since they have precious little capitalized on their balance sheet. Taxes are an easy EBITDA at the relevant tax rate. So Warren's opinion isn't relevant here as IDA is negligible. My math suggests they keep approx $2,100 operating profit from each $7,500 column that's sold which is a 28% EBITDA margin. The more interesting question is what is in the 72% costs - Baxter's take obviously but what else?
If you take 50% of the EBITDA (40% market penetration), convert to Cdn $ and divide by 350 million shares you get $5 per Spectral share. Any of the longs here getting excited?