Over the last ten days, I have read, listened to, and watched everything I can on this company. My favorite bit, though, is minute 16.45 of the May 11th call when Dr Palmer said patient 1 can lead a normal life and that he is even traveling. A 52-year-old man with recurrent glioblastoma - i.e., a dead man walking - now sipping margaritas on a cruise. This should not be happening. Just wonderful.
I think about the distinction discussed earlier a lot, but for slightly different reasons. We can never conduct a double blind trial or, for practical reasons, even a single-blind trial. So more data. Plus, we are still learning best practices for inserting a dart, especially into internal organs. The data from a given trial is much more important to us. The company said (I think) that some of the earlier pancreatic cancer patients only received 8% tumor coverage. Why? Poor technique? Tumor location? A manufacturing error? Poor imaging? A delay in the insertion? Answering these questions will improve every future placement, regardless of tumor type. A drug can rarely improve ORR performance; we can improve by simply getting better at a medical procedure. And oncology surgeons are super creative.
This may be old news, but the 2025 annual report is a good read. Link below.
Page 65: Great summary of technology
Page 70: A mostly chronological summary of every clinical trial
Page 88: Summary of potential immunological benefits
Page 95: Clear discussion of the applicators.
The cap table also seems very clean—only 3-4 mm non-employee warrants, as far as I can tell.
(I am new to this stock, so probably old news.)
Picture I took today of DRTS's Hudson, NH manufacturing facility. There was not a single sign or marker identifying it. The building seemed well maintained. The parking lot only had two cars, but for some reason, there were 20 or so cars on the street.
First openly gay NBA player who fought the good fight. Fuck Cancer. https://www.espn.com/nba/story/_/id/48753479/jason-collins-dies-47