This is a pretty rose coloured view although I suppose that's in keeping. Instead of "so close" you probably should have phrased it as "imminent" since I doubt a Mulitplex test is that close at all.
I suspect they got an interim look at the trial results and they were pretty poor which is why it is pointless to continue. I'm not sure you could argue that the bad results were outliers, hopefully a repeated (and fixable) process issue that requires RCA for sure but "outlier" minimises the potential problem.
The longer I think about this the worse it looks. How much money have we spent to NOT get a test to market (a fair counter to this is that the money wasn't spent by the current management team). The biggest issue for me is that we have abandoned the chance to get the test and DEVICE approved and on market. If I was a distributor I would be putting us in the low priority, low resources basket right now.
I expect the share price will crater this morning.
ADO Price at posting:
5.7¢ Sentiment: None Disclosure: Held
