NoVice, I initially thought the same, but after pondering on this latest event while drinking some peppermint tea, I concluded that it really does not matter if they knew earlier or not. Really, what difference would it make?
It's a unfortunate turn of events but outside of things within the companies control, what's more important is what will management do to keep progress moving forward? The 513(g) sounds like the best course of action in response to the situation.
What I am curious about however is why Richard & Co are not pursing Breakthrough Device Designation, with the free ride you get on CMS and PromarkerD meeting the criteria (from what I can ascertain), it's perplexing to think why not?
While the share price will take a hit due to impatient investors reshuffling capital to more near term plays, PromarkerD remains the most accurate predictive test available. Looking at this years road show line up, PromarkerD will be getting allot of publicity. We can see progress being made, it's slow yes, but it is moving forward at the end of the day. As I mentioned in my other post, the hiring of a CCO and CFO is a very clear indication of what's to come. Meanwhile RenalytiX have been making significant progress on the other side of the world, which I think works in PIQ's benefit. As predicative diagnostics becomes more widely adopted, it will make the PromarkerD adoption in the US that much quicker.
'Buying Opportunity' gets flung around all to frequently whenever stocks take a slump, but in PIQ's case here I think this is a genuine buying opportunity given the catalysts we expect to see announced later this year.
Holding strong for the $10 day. Peace out!
PIQ Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
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