I totally agree that our value should be higher. Especially with a good amount of cash on hand, Axovant deal, and the greater chance that OPMD will be successful. It’s extemely frustrating.
But whats alao frustrating is expecting OPMD to be taken to the clinic directly by Benitec, and then seeing it sold off. For me, having OPMD’s potential success touted by the company, only to see it handed over was disappointing. I’m not saying that I don’t understand why they did it, but the more direct value inflection that may have come from its success is a little more in question. In other words, I personally wonder if the value inflection with OPMD’s success would have been the same as if we had taken it to clinic directly. This is why I believe there was effort made for a “proprietary” program. I personally believe the company recognizes that OPMD was also a chance to shine big that is now an opportunity lost in some respect. The deal could be viewed as hedging their bets against their own tech. But I also believe that Benitec is progressing in its pipeline tech, and is becoming increasingly aware of what targets are best to aim for, and a “proprietary” program may be their response to that. Not saying that it will, but what if Benitec comes out with another program, and OPMD misses the mark? Should the market still see the company should be “valued more than we are”? I highly doubt it. This is why a lot of my hope right now is in the success of OPMD. It is the closest to clinic, and is the closest to confirming whether or not Benitec’s tech has made any progress. Just my opinion folks.
BLT Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held