Well today I sold my shares in Medical Developments International. It was a borderline call, as the thesis is still mostly there. However, the new piece of information was that the company gave the following guidance:

It has been announced this morning that Medical Developments International has received FDA approval for its Space Chamber asthma spacers. Since I bought shares, the company has moved forward with a number of its initiatives (selling asthma devices into the USA is just one of them). Importantly, the application for marketing approval of Penthrox in Europe has been accepted for consideration. These are both positives. However, the company has also reported reduced sales of Penthrox in Australia, meaning that the shares are no more attractive now than when I bought them, in my opinion. The current price is $1.38 (only slightly above my average entry price).

Medical Developments (MVP) recently updated the market as to its operations and expected profits for FY13. As expected, net profit is expected to be down on 2012, by up to 15%. The market immediately reacted to this, and what followed was two days of savage selling... to a low of $1.06. Since then, the share price come back up to about $1.30, albeit on low volume.

Share Price: $1.40
Market Capitalisation: Approximately $81 Million