Disappointing news from Rhythm this morning, as they have to resubmit their TGA application, which could take some time. The share price has been hit hard down 40% this morning. Whilst this is significant, as it is always great to get TGA approval as Australia has such high standards, it isn't a large market for them. Further they have an approved CE Mark, so still plenty of potential without this approval.

Personally I feel this is a bit of an over-reaction by the market.

I have a small personal holding in this business. I want to support the business, as I feel if this was available a few years ago it would more than likely have saved my Dads life. An higher accuracy, cheaper blood test to detect bowel cancer apposed to the current stool test is a no brainer in my opinion.

This is an investment that is close to my heart having lost my dad to bowel cancer. I went to see my amazing GP a couple of months ago and mentioned to him my interest in shares. He said have you heard of RHY, a game changer blood-test for detecting bowel/colorectal cancer.

I rushed home and jumped on my computer to research it. It's not the type of investment I normally make, as its not generating revenue and is in the biotech space. Having said that the investment thesis is very compelling.

RHY are targeting first revenues by 2022 and have just set up a US entity. With a $330m market cap and a target market of potentially $39billion, it looks very undervalued. Best of all it could save so many lives as colorectal cancer if detected early can be cured in most cases.

I am sure most have heard of the stool test, which is sent to you by the government by mail. Well RHY's ColoSTAT is a blood test, which has better results for detecting colorectal cancer and its much cheaper and more convenient to the patient.

No wonder my GP thinks its a great idea, dealing with patients with this condition daily. Getting a test for colorectal cancer along with your other yearly blood tests, seems logical. Colorectal cancer is the third most common cancer in the world

There is no other test as advanced, cost effective or as good as ColoSTAT currently. I wouldn't be putting all my money into it, but it's a great story and one I intend holding onto for the next few years. Currently in my personal portfolio but not in SM yet. See attached a detailed broker report if interested.

https://rhythmbio.com/wp-content/uploads/2021/05/Rhythm-Biosciences-initiation-report-18-May-2021.pdf