I remain concerned about cash burn and no real path to cashflow positive. Even with reimbursement of valves used in upcoming trials I fail to see any near term break even.
I'm also concerned about continued dilution from capital raises and overly generous terms of the raises (free options etc). I've mentioned previously that seeing future raises conducted at a premium would be a good sign (I see no need for free options given that management sees the company as trading significantly below fair value).
As good as the mitral repair partnership may be I'm concerned that will further add to cash burn.
I also have issues with the concentration of ownership on the share register, particularly due to the aggressive raises performed at rock bottom prices.
Don't get me wrong I love the tech and direction that Pato has taken the company but cash burn and ability to raise capital remain areas for improvement IMO.
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