Two new C level positions comes at a price and while expenditures had been relatively well maintained, I am expecting marketing and R&D to also increase as many of our other tests move into clinical studies.
The analytics revenue will now be a small fraction of the inflow & while it's consistent, it has been under performing the last 2 years - most likely as a result of COVID. YTD only $1M receipted vs 1.3M PY.
Having said that, the cash balance is the highest it's ever been >$7M and staff costs historically very low (<$1M pa). I have no concerns regarding any immediate capital raisings but would love an opportunity for a SPP when/if it makes sense.
Looking forward to the 513g outcome, due before the end of the month.
I know there is skepticism around the companies ability to get meaningful adoption in other jurisdictions, and I too see this as something as a growing concern. I think it's important to always remain critical and not turn a blind eye to potential red flags, but having said that - it's difficult to know how much of this is a result of COVID vs lack of execution. Perhaps it's bit of both, but looking at what Richard and the team are working on such as scaling up the manufacturing of the reagents, setting up supply chain out of NAM, hiring new C level commercialization positions, FDA submission, CPT, KOL engagement, Ph2 readout ... etc, etc.. I see allot more buy signals then sell signals right now.
Also I would like to share some positive announcements from the company's LinkedIn page:
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