I still have to read the detail (on PC, was gone with only phone - not my preferred device) but i think we suffered the typical 'expectations' trap without consideration how CDMO is rely doing.
I saw 166%, below expectation but also saw that we are talking about a few cent only. Then of course 166% is a biased way of reporting if you don't add the cents.
CDMO has made new customers and we know they must spend before they invoice in these line start-ups. We will need to accept that because each set of new projects will require CDMO to advance that cash.
Since it is important to capture customers NOW because they are glued to their manufacturers in the future due to FDA procedures, one may expect CDMO to invest more and we also saw that in the numbers.
So personally I think we were kind-of Zack trapped.
And the rise in price before (given the volume) and then this kind of side reporting feels a little like a prepared play.
I may have more to say about it later.
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