conf call
A few notes from the conf call added to the terse statements from management in the PR.
1) Almost all the fine growth in revenue reported was from Asia, esp China. US sales (mostly BNP) have been nearly flat and disappointing.
2) However CEO expressed satisfaction with the 3M and Roche relationships and is optimistic about a new marketing strategy by Roche that will start late this year. There will be more marketing of RAMP tests directly to clinics who order the tests (such as cardiologists) rather than hospital labs.
3) New business opportunities seem to abound, with a new TB test that is being evaluated by a Swiss organization (?FIND?) that receives funding from the Gates Foundation. Roche and 3M are also evaluating some new tests. I doubt these new opportunities would affect the bottom line initially, but at least would expect the increased development costs would be funded by the partners.
4) Enough cash still exists to go to Q4 2010 which, is about the time that profitability can be projected. Although it was not said in the CC, I would still expect another dilutive financing unless a rich deal with a partner is struck.
Considering the whole story and the current price, it seems a value to me and I added to my position yesterday.
Urche
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