Charlie Aitken, MD at Bell Potter, stands by GI Dynamics (ASX:GID) and its plan to raise A$35.0mm in a private placement to fund the US FDA pivotal trail of...

Charlie Aitken, MD at Bell Potter, stands by GI Dynamics (ASX:GID) and its plan to raise A$35.0mm in a private placement to fund the US FDA pivotal trail of its EndoBarrier product. He says that EndoBarrier targets a massive end market of global diabetes and obesity patients. The product has delivered proven results and attracted major shareholders such as Johnson & Johnson and Medtronic which have invested in this small-cap developer of healthcare technology. As the US spends $200-300bn annually on obesity/diabetes treatment, GID would only need a tiny percentage of that market to potentially be worth multiples of 53c.