Something clearly caught them out in the meeting, as the January update almost suggested they thought they were practically ready to make the submission and would then be selling in the second half. I don't believe that they didn't know the FDA timeframes - they have already submitted once and would surely be well aware. It's a pity they can't say more - just hope they have been realistic in the timeframe to complete the additional work, as we are now looking at sitting in holding pattern for this financial year.
Still like the underlying company, but the longer this drags on, the more doubts there are around their execution.
CYC Price at posting:
$1.61 Sentiment: Hold Disclosure: Held
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