Hi Propogandista, quick post as I've got to do my real job.
I'm a physician and I've spent more than ten years working people up for chest pain, I know very well about ELISA, and the other tests you mention, I happen to be an expert on blood gases.
Trust me the test will be valuable, why would a multi billion dollar health care giant be pursuing the market if it didn't exist?
ADO's financials are far from terrible, cash burn is kept to a minimum, dilution since GC and the current board have been in control has been minimal.
Patients do wait an hour or more for the logistics of a hospital to churn their blood tests through central, labs all the time taking up monitored beds in busy ED's not to mention that they've often already been brought from home or a primary care setting. Vague chest pains in at risk populations frequently could be managed in outpatients or GP surgeries if one could confidently rule out a small NSTEMI (small heart attack) or ACS (acute coronary syndrome) but often end up in ED due to an increasingly defensive medical culture and also because people genuinely don't want to miss cardiac events. Equally in patients with renal failure or diabetes the symptoms of a significant heart attack can easily be absent, a quick reliable test in a GP surgery that can tell the doctor that the troponin is significantly elevated can help to focus resources more quickly and highlight the urgency of care. Indications are that this POC1 device might well include BNP measurement which again can help doctors quickly decide if cardiac or respiratory causes are behind breathlessness and avoid lots of unnecessary investigations.
You obviously have a lot of knowledge about lab analysers, I really think you should read up more about what ADO is trying to achieve you might be surprised at how much they have to offer.
Parting thought - you say ADO's financials are terrible and this forum is full of unrealistic expectation (I agree sometimes the enthusiasm gets a little much). The company is only $300,000 dollars in the black this year! We're in advanced discussion and collaboration with BBI and thus about to access royalties on sales upward of $2 billion! If the BBI deal goes through we'll be involved in many existing and profitable tests, and optimising these further without even thinking of the new markets that the POC1 and other endeavours might get us to.
Please spend the time to read up properly on what this company is up to before writing it off, you say you had a cursory look through a few ASX releases after getting angry at the number of thumbs (often a poor indicator on the quality of a post and more aligned to current sentiment around the company), the result has been a superficial and cursory criticism of one aspect of ADO's activity, and not even the one most likely to drive the SP near term.
ADO Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
