 Hello everybody, welcome back to Investor and Tell. I'm Peter Klossy. It seems like every day I'm learning something new in this pandemic and today I'm learning about Valeo Pharma and how some of its products can be repurposed to battle coronavirus. So Steve, thank you for coming in today. Thanks for having me Peter. Now a company was founded in 2003. You were one of the co-founders and you're still with the company. That's correct. When you started the company, what was your vision? It's interesting. It was an offshoot of another company that we were running in pharmaceutical chemicals and it was purely by chance that we had the opportunity to in-license or acquire some prescription drugs and that's how it started. So there was no master plan. 18 years later, 17 years later, we built one business. We sold it to Valeant, which is now Bosch Shelf as you know, in 2014-15 and we've repurposed, same team repurposed Valeo looking at new therapeutic areas and here we are today in the middle of a significant upswing and growth trajectory. So pretty exciting 17 years. Right. So you have a whole suite of products but there's one that's very exciting that was announced this week as being blessed by Health Canada. Tell us about that. It's a product named Redesca and we got approval by Health Canada yesterday. It's an injectable used in hospitals for the prevention of blood clots. So it's called an anticoagulant and as you referred to earlier in terms of some products that we have that can be repurposed for COVID-19, we do know that in North America, the class of drug that Redesca belongs to which is considered, which is called a low molecular weight heparin are used on about every patient admitted into hospital with COVID-19 for the reasons of I mean many of the issues with COVID-19 relate to what they call micro thrombosis or small blood clots. So theory is that even though it's not a label indication that use of products like Redesca can work to prevent those blood clots and improve patient outcomes and that's what they're seeing in the US and in Canada in terms of when we compare patient outcomes, when I say patient outcome, how well a patient does today versus let's say a patient that would have went to hospital last March. So it's not a vaccine and it doesn't attack the virus, it attacks the symptoms of the virus. It attacks one of the symptoms which is the blood clots, that's correct. And it seems the market likes a story you're telling, stocks up over 300% in 12 months. Yeah, the market for low molecular weight heparins and the category of drugs in Canada is about $200 million and these drugs have been around since the mid 90s. So we're coming out with something which is very comparable to the existing drugs. It has a very full line of product, very good sticky profile having been used in Europe for almost four years now. And I think it will make a major impact market share wise in Canada. So there's two benefits. The Canadian healthcare system saves money because these class of drugs called biosimilars, one of their intents is to reduce drug costs, so that's a benefit. And it makes sure there's availability. Heparins do go on back order from time to time. So having another entrant in the marketplace ensures that there's a supply again that benefits Canadians. We think we'll capture significant market share and we're estimating peak sales of this product around $30 million. And that's not your only product. You had recently had another announcement about another product. That's correct. We announced several weeks ago. So we have three portfolios or three areas we focus on, neurology, oncology or cancer and the hospital. Amicastin was announced about two weeks ago, three weeks ago. That's another one of our hospital products. It's an antibiotic used in hospitals on a daily basis. It's a relatively small product, but nevertheless, it builds our portfolio of hospital products. So Radesca, while it's a hospital product, will be a big one. Amicastin, the hospital product will be a smaller one. It takes all kinds. We have currently eight products marketed. Radesca will make it nine. By the end of next year, we'll have 12 and we have another half a dozen in the pipeline. So continuing to launch products and grow products is our mandate. Now with an accounting background and being in the leadership team, you must know what your trillion 12 month revenue is. Our year end is October 31st. So we just finished. We haven't announced that publicly, but it's roughly in the eight or eight plus million dollar range. And I'll talk about a hockey analogy just in a second. But the revenues for next year are our current fiscal year, October 21, we're projecting 20 to 25 million. So as our great Wayne Gresky once said, it's not where the puck is, it's where the puck's going. And it's the same thing with that. You look at value, it's about where are we going to be in a year or two. That's what's truly exciting. And when I look at your market cap of only $80 million, it seems unusual for that kind of growth be valued there. And I know compliance says you can't talk about it, but I can. Pharmaceutical industry is famous for high multiples. And as you build that revenue stream and cash flow, if those multiples hold true, then investors should do very well for themselves. I would tend to agree. You have to look at the pipeline. That really influences the multiple. So something like Redesca that's not selling today, you have to anticipate what will those sales, how credible those sales be to our, and that factors into the valuation. But I would tend to agree with you. We don't think that the market is fully appreciating all of the growth potential in our product pipeline. So you make the Canada's health system happy, you make patients happy, and you make investors happy. That doesn't sound like 2020 to me. If we do all those three things and it starts with the patients, it's actually part of our mission statement. If we can do well by the patients by bringing innovative medicines to them that improve their lives, the rest takes care of itself. And I mean, you have to execute, you have to control costs, things of that nature. But it really starts with the patient. And I think that's what makes our job really satisfying when we have a Parkinson's drug that we launched a summer and a half ago. And when you hear some of the comments back about how it's improved the symptoms, the control of symptoms of Parkinson's and some of these patients, it's rewarding as someone to say, hey, we brought that drug to Canada and it's here because of us. So I think we play an important role and we'll continue to play an increasingly important role in the Canadian healthcare system. To me, sounds like an excellent corporate mission and vision. It does to me also. Oh, let's run with that one. I'd like to check in with you again for when you report your quarter in the year, which should be in what, 45 days? Yeah, the quarter will be end of January. That's our, we're going for the fourth quarter then. We had a pretty good fourth quarter, but we can get into more details then. Okay. And look forward to speaking with you again at that time. So this is Valeo Pharma, trades as a VPH on the CSE. And Steve, thank you for taking the time. I know your phone's been ringing off the hook. Thank you for sharing this with us. Peter, it's great to be here. Great to see you.