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Biotech / Medical : PSDV - pSivida Limited -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (275)	4/22/2010 12:15:00 PM
From: John McCarthy	Respond to of 421

Hi Arthur I think they came up short on their target ($87 million) by apprx $15 million and (probably) came up short on their "hope for - oversubscribed" by apprx $20 million. Best I can tell they had $5 million in cash going into the IPO which puts them at $72 + $5 = $77 million As best I can piece together they needed: (1) $15 million --> PSDV - Loan thingie (2) $12 million --> finish FAME trial (3) $15 million --> Sales Force (4) $?? ***** --> Employee Count = 29 (5) $25 million --> PSDV if FDA OK (6) $?? ***** --> P2 AMD Trials (7) $1 million --> I can't remember I am way past the CRAPS mentality and really like the trial results as presented in the Road Show. I know the failed Modified ARTS trial is a problem but the Intent to Treat was terrific. (As it turned out 49% of the trial people "touched" 3 lines of vision - even if it didn't stick). The steriod kicks in by the 3rd week. The 30 month data looks super. Anywhere they price ($3,000 - $5,000 per road show) [I THINK] is both a Lucentis and Avastin (sp?) killer. I AM worried about the cataracts which hit (to me) a mind boggling 82%. The rationale (its OK) from the road show talkers was the argument that the avg age was 62. I just can't buy that. IOW - does using this particular steriod imply, infer, demand -- You automatically get cataracts? Don't know. But 82% is a mountain. Notwithstanding - I am wearing a New Face. It is my Biomatrix Face. (a) PSDV (after payment) goes into DEAD MONEY mode. (b) If the priorty review is good to go and its in Nov or Dec I may get more in Aug - as that should be the pits - price wise. (c) If like Biomatrix i.e. the market yawns on an FDA approval -- then I will hire out my dog and cat as "hole diggers" to get more loot to buy. regards John