5x broker valuation of 33c, page-41

The recruitment surge at the end was nothing short of a miracle. I guess we will never find out what happened to create that surge, or what happened to cause just a few patients to be recruited most month before that. All I know is that nearly a year was wasted, which cost about $400,000 a quarter in staff and corporate costs. I also have no idea how the FTT staff spent that time productively.

When recruitment drags out, it means each patient recruited costs a small fortune in fixed costs if the staff have little else to do but wait for results.

It was such a shame about the site selection and patient recruitment, as everything else about the revival of the old TIS has gone remarkably well, apart from the research into other indications (Harliquin Ichthyosis and corneal wounds) appearing to be dead-ends.