DECN was in the business of making diabetes strips (still is in part). Even though the market is 10 Billion it is highly saturated market with big piece of the pies taken by large cap companies years ago .None of the new tech is able to get a fair market share in the diabetes market.
If you were invested in a diabetes strip manufacturing company then you deserve to lose money in the last 4 years. I was in another ticker(DRIO) and they bled every year and still continue to bleed.
If you bought into this company thinking they would win a lawsuit against JNJ then you deserve to lose your money.
Now their main focus is COVID test strips and comparing them with previous performance as a diabetes strip company is nonsense at the least. They were using impedance tech for the diabetes strips so they already had one part of the puzzle figured. They could leverage their knowledge in this field to come up with this product. Kudos to the DECN team
As an end note I believe since the CEO and the rest of the board is pretty old he might be inclined to sell the company and cash out.
Some excerpts from the financial report
"The company’s
GenUltimate TBG product makes use of impedance technology to measure the number of red blood cells in a patient blood sample,
information relevant to a glucose measurement in that same patient. Mr. Berman, the company’s CEO, became convinced that a similarly
configured device could be built for the determination of Covid-19"
"The specifications guidelines set down by Mr. Berman, for creating this Covid-19 testing device and its important chemistry,
were that the test must be measured on the company’s existing Precise or Avantage glucometers, because they were completed products,
having been tested to great length, and now to be adapted for detection of Covid-19 instead of whole blood glucose. In addition, the
resulting chemistry would necessarily run using a patients (small sample of) whole blood taken from a finger prick, and later defined as
1-2 microliters (a small drop on a finger tip), and perform the test and provide a result in one minute or less (later redefined as 15 seconds
or less), with at least a 95% accuracy. Mr. Berman believed this device was capable of 97-98% accuracy. "
--Know what you own or eat Ra(w)men.
