Fairly hard to dismiss the fact that a $15b gorilla in pathology testing just fronted up with a bunch of cash so as to get a piece of Microba. I reckon that being a pathology lab Sonic has a fair idea of the potential of Microba's test and would not have plugged existing sales of the Microba tests into their valuation model. In any case Microba already alerted the market that sales of their microbiome tests are only expected to pick up in the second half of FY23.
As some ice hockey dude once said, “skate to where the puck is going, not where it has been.”
Ann: Sonic Acquires 19.9% Microba Stake and Enters Partnership, page-24
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