The underlying fundamentals seem solid tbh.
I'm seeing this as a company that is transitioning from a biomed drug discoverer, to a medi-tech equipment invention company (if that makes sense!).
Sure the reward is less - no lifechanging discoveries - but the risk drops to ZERO - as the companies who want LDX to design and produce their testing kits pay upfront, and then annual royalties.
I love this scenario, absolutely love it.
Imagine LDX designing and manufacturing 4 new tests per year, all based on their exclusive equipment.
$5,000,000 per test (as per hologic) plus annual royalties.
Look, this is very simplistic, but it's a very very good business plan.
Things like FebriDx then become the cherry on top.
This transition period will be the most challenging, but it's pretty sound IMHO
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