FDA Approval, page-12

Bioshares featured LBT in their newsletter last week, rating it a "Speculative Buy Class A", with FDA approval expected "later in the year", much longer than most expect. The information appeared to be derived from a discussion with Guthrie so maybe she was going on an absolute worst case scenario. LBT likely a sleeper until approval comes through but would have to be a big pop given the current valuation.

The article pointed out that bioMerieux and BectonDickinson are both working on similar instrumentation, however the LBT-Hettich JV is about two years ahead. BD markets a product currently that only takes images and pairs it with an automated streaker system with incubator that retails for > $2 million. LBT's system will sell for US$100-200K but the incubator costs an additional $0.3MM; the systems are targeted to smaller labs which make up a vast majority of the market.

The other thing to look forward to is a distributor(s) for the system, where there has been very keen interest (might be a single global or several distributors). Given BD and BioM have their own systems in development I would guess multiple distributors may be a better longer term option which would allow them to ensure they have the best representation for each region (bioM was/is pretty poor in the US).