Gene, is the cyst causing pain or irritation? If not it might be OK to leave it for now, cosmetic issues aside. Your doc might also be unacquainted with factor replacement therapy and be afraid of even minor procedures like that. You could check whether that is the issue, and be sure to treat with factor if you choose cyst removal. Another option is the doc "burning" it off with liquid nitrogen which would cauterize the area, avoiding bleeding. (I've had that done with no problems). Good luck!
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