Ann: US Medicare payment for new category 1 code announced, page-23

DZH: I think previous prsentations have implied their cost base is about 20%.

As far as I know that's just the manufacturing cost and doesn't amortise all the R&D.

I personally think going high end and not competing on price is a good move, as other posters have pointed out they've pitched themselves for years as the gold standard.

In general I agree with your comments, objectively the selloff is likely overdone. The unit is likely to be profitable for doctors even at sub $20. And maybe the key thing has been forgotten- they have CAT1 in the bag and so doctors/practices/hospitals can do the maths and start buying.

My base case was that they needed to sell 1000 units a year. My stretch objective was 10000.

Let's see where they are in a year.