I have no doubt the private investors asked what questions were being asked (not that I know whether management told them more than disclosed to the market). Who wouldn't, if you're going to put $10m in? I take the fact that they raised the $10m without a trading halt as they got comfortable with management's response pretty quickly. And if I consider that together with this statement: "There are several follow up items being reviewed by BSI in connection with a final decision on the CE Mark, expected in Q1" - I doubt the questions relate to clinical, more likely procedural or manufacturing related
As a comparison, take a look at TIS (note it's not entirely the same process). In July 2014, they've said:
It was evident from the detailed analysis of EMA questions when these were received earlier in 2014 that the most definitive response from TIS would involve the development of additional test methods for stability...
In March 2015, they've said:
The CHMP did not express concerns about the performance of VitroGro, but is seeking additional data from TIS.
They went back to the drawing board for more clinical tests after that.
OSL Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
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