Here’s the thing. A company files for bankruptcy when it becomes insolvent which is when it is unable to meet its current liabilities from current business activities/ cash flow.
The FDA delay caused them to become insolvent because, really the approval that the FDA gave last week was pretty well as the company was led to believe several months ago by - the FDA!
So as they say in their PR they expected this approval in time for this flu season. On that expectation as far as cash allowed they commenced production of the test.
What does that tell you about what hints the FDA was already giving them from the reviews along the way? That it was highly likely that they WOULD receive approval from the FDA.
Nobody commits millions to producing inventory like that unless you believe from the signals you are getting are that clear.
So now it’s a matter of which hedge fund wants to put together a funding package or which big pharma company wants to buy the intellectual property.
They have a test in development for chlamydia and another one as well. That’s the thing about sexually transmitted diseases - people will want to quietly get tested in the privacy of their own homes and then arrange treatment if needed.
So they’re continuing to develop their intellectual property. Not a one trick pony and no doubt quite possibly others that are just at the concept stage where they are working out how their technology could be developed and adapted to test for other viruses/ antigens.
For that they would need a deep understanding of how the relevant viruses etc trigger the production of certain proteins in the body or triggers the release of other chemicals that are always present in people suffering from those particular diseases/ viruses etc and develop a way to test for them.
When you start thinking about it that way you realise that the sky is the limit as to how many different tests for different diseases can they could develop.
A woman in the UK realised something was wrong with her husband a year before he was officially diagnosed with Parkinson’s disease because she noticed that he smelled different, meaning that having been married to him for several years she detected a change in his body odour.
As long as they know their diseases they can develop a test for them.
My post are my opinion only. You should do your own due diligence before investing in any stock or take professional advice. I am not an investment advisor. Kind Regards.
AI
