I like your questioning attitude, rumper. I don't think you are going to find solid answers from anyone here, but instead speculation on both sides of the fence. Good luck finding peace of mind from that.
IMO (and I am a layman in both the stock market and this industry, but I have been following their progress for some time):
Product launch means their product is ready for large-scale? commercial delivery. I believe their product was once going to be assays of liver tissues, but, if I recall correctly, they revised their model to provide testing services of assays instead of assay deliveries. So product launch to me means they have a plan to provide a sustained X number of testing services per month and should have the personnel and equipment necessary to achieve that plan sometime between now and December.
I'm with you ... I don't know how many X is and what kind of revenue numbers it will produce, but I'm optimistic and assume their plan will sustain their business. So instead of them saying something like, "we have $12M which will sustain us for 12-18 months", they should instead be able to say something like, "we have [revenue figure], which will sustain us indefinitely at this production level, and produce [profit figure] to support future research and development."
Given the large number of big name research agreements I keep hearing about, big pharma is interested in the liver product. I don't think we hear directly about it most of the time, and I think you'll be hard pressed to find concrete evidence to support the level of their interest.
Date? Really? All we know is what they've said... they are ahead of schedule (meaning before December).
"Will this tank the stock?" "Minus 50% ytd has me a little weary"
You said it, brother! Personally, I don't see how this stock I feel so solidly about could tank much more than it already has - it would have to completely fall on its face.
Good luck
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