Bloody Diarhea - ain't it great, eh!
Well today was the annual meeting at the Sheraton in downtown Toronto - about 30 people were in attendance - recognized a couple (e.g. Roman Franco)
The meeting went smoothly and all the standard stuff was approved, directors, etc. (not even one objection!! too bad!! hehehe:) :)
First, here are some of the notes I took down:
-synsorb CD trials are starting right now ((how long do trials take??)
-the market potential for synsorb PK is 0.5 billion per year
-they're in corporate partnerships talks "as we speak"
-looking to bring more Gastro Interic(GI) products into their suite through assoications with univerisities ((cheap???)) or and from other companies. Prez talked extensively about PK, CD and travellers disease. (They have one more product that is public knowledge: Synsorb C for choleara whichis pre-clinical at the moment)
- Prez believes they have a very a solid lead in the diarhea market (yippee!) and believes that being first is critical - so they are on the move!! (exactly - who would like to touch <<see title>>
(note: the funniest part of the meeting was when Brad Thompsom (prez) began to explain the bloody diarhea bit, he almost did, commenting "it doesn't make for really good dinner converstaion" hehehe :)
BTW, he looks so young in person, nothing like the photo - page 6 of annual report :)
In an info package, there were plenty of new analyst recomendation and reviews:
1)RBC Dominion- Douglas Miehm (may 6) - 416 842 7823
one-year target - 15.25
3 years - 25.00
strong buy
huge report - 23 pages on syb
forecasted EPS 1997 - 1998 - 1999 - 2000 - 2001 - 2002 - 2003 - 2004
(o.o1) (0.24) 0.13 0.58 0.99 1.48 1.86 2.29
2)Gordon Capital, jan 15 (this is old), Stephen Chant 416 8687722; justin wu - 4168685499
12 month target= $22, top pick in biotech sector
P/E ratio ("consistent with emerging pharma companies is 25X" = fair IMO)
3)Yorkton - Wayne Shcnarr - news from related companies
some of syb competitors - ggen, gelx, ntec - all not direct competion - syb's are either bettern or ahead (by a lot)
-12-18month target 25$ due to events expected late in 1997
other note:
4 or 7 year "orphan" statues in the U.S and/or Japan - what is the patent law in these countries?
Anyway, present at the meeting was 60% of all voting shares amongst 30 people - so are the shares tightly held?
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