During the meeting last night he did talk about a takeover over just prior to the GFC. He described why the offer fell through. It was due to the bidder having to fund another takeover. He certainly did not come across as being anything but honest.
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Well, logic would suggest the sellers today are NG and Snap.....
I do feel positive about PEB. It is important to understand in the medical field things take time. The parts PEB have control over like building Labs etc get done very timely. The parts where they depend on others can take a bit of frustration time wise, but it still happens.
Share holders are disappointed because timeline expectations seem too high to me. Not helped by earlier reported comments of CS. DD and CS might at times stoke this expectation for share holders own good to prevent a takeover at an unrealistic low price.
Meister it can be hard having to be patient but in PEB's case could work out very profitable.
Snapiti - Whilst I respective your contrarian and generally objective postings I have to ask why exactly would or should a major/reputable pharmaceutical company want to enter into a JV with PEB or buy them outright?
The major pharmaceutical co's are primarily drugmakers and will invariably have little appettite for a cancer diagnostics company like PEB.
Whislt Roche (for example) has a molecular diagnostics it doesn't necessarily mean that they will have appetite for a company like PEB, even if they do have the best product in their field, great IP protection and a large addressable (and profitable) market.
All company's (including pharmco's) have a scarce amount of capital and they will invariably seek to enter agreements/ventures/and markets that are not only profitability but which are complementary to their existing business.
This was evidenced early this year (around April/May) when Merck and Bayer started trading specific assets/properties between themselves in order to align their product portfolio to their respective/complementary markets.
If anything the above (massive) transaction was evidence that Pharmco's are undergoing a process of rationalisation in order to gain both cost and market efficiencies and as such they are unlikely to go out and spend 10's or hundreds of millions on entering into an agreement/buying PEB just so they have to start from scratch in building market share in the extremely small nice that is the Bladder Cancer diagnostics market.
I was talking to 2 doctors at a big mens health clinic and neither of them had heard of cxbladder yet they get lots of guys showing with blood in urine, only about 1% of those will go on to have any test for bladder cancer and they said its sent off to a lab and inspected under microscope, then maybe a camera is stuck in them but its very rare.
Take that what you will, it was just a friendly conversation and may mean nothing however i find it alarming that 2 doctors at a mens clinic havnt even heard of cxbladder, i know its more aimed at urologists so maybe im barking up the wrong tree.
Im just trying to understand why sales was pretty much non existant. Hard to sell something if the potential buyer hasnt even heard of it.