A couple of examples... In its 2011 Annual Report Nanosonics...

A couple of examples...

In its 2011 Annual Report Nanosonics announced US sales of it's trophon ultrasound decontamination device; on 30 September 2011 the NAN SP was 52 cents. On 20 Feb 2017 NAN published the 2017 Half result with its first meaningful NPAT ; at that time its SP was 287 with a max SP of 347 in October 2016.

In its 2005 Annual Report Sirtex announced US sales of it's SIR-spheres cancer treatment "drug"; on 31 August 2005 the SRX SP was 186 cents. On 28 Aug 2009 SRX published the 2009 final result with its first meaningful NPAT ; at that time its SP was 456 and was 703 at 31 Dec of that year. It's interesting to note that SRX's revenue CAGR from 2009 to 2016 was about 18% and its SP maxed at 4032 (and I recognise recent issues that have seen its SP halve).

The AXP value proposition is considerably better than the SRX value proposition and, eventhough hard to compare with NAN, certainly as good.

The central issue is rate of growth in top line and, I believe, AXP's will reflect that of SRX, hence my comment that the AXP SP will be $5 by the time it is profitable.