Ambri have confirmed that they are in the final stages of optimising the design and manufacturing method of the disposable cartridge component of their SensiDx unit (nanotechnology point-of-care blood testing product). Problems with high volume manufacturing of the disposable cartridge had caused a delay in the release of the product. If the company can be taken at its word, we should see a 2-3 week shake down period begin soon. This will be followed by 3-4 months of clinical trials. My guess is that ABI will be seeking FDA approval by about June or July 03. The company will be releasing a milestone statement in mid to late Feb. In addition to the SensiDx product, ABI are doing research for the US department of defence on a diagnostic tool for testing chemical and biological warefare agents. ABI are also conducting revenue-generating research for Dow Corning, Genencore, and Proctor and Gamble. ABI also have plenty of cash on hand ($13m). Cash outflow for the present quarter is expected to be only around $3m. The $6.8m outflow for the Dec quater was a one off (see company statements). Thorney hold 5.68% of the stock. Dow Corning and Genencor hold roughly 7%.
ABI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
