Good update, though I am a disappointed we didn't get an update on the number of pharmacies covered. Its one thing to note we have 'access' to two thirds of the pharmacy market through Symbion and API, but its the growth in the number of pharmacies actually selling our products that I have been watching since that is what accounts for the lions share of the revenue.
We didn't hear anything about the In2Pharma agreement from Feb, through which we are to have their pharmacy field force promoting our products in store. I was hoping this would result in an uplift in the number of stores covered, and also a reduction in marketing spend with the promotion being outsourced. Looks like marketing spend has more than doubled since last quarter to $391K (up from $164K last quarter), though hopefully that can be accounted for by other areas like Daigou channel promotion etc.
All in all, a really positive update. Lots of good progress, particularly with the trial, and looking forward to seeing some more details around pipeline products and George's strategies moving forward!
BDA Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
