I think that's exactly right Gongboy - it's the delay in Coris...

I think that's exactly right Gongboy - it's the delay in Coris with FDA.

What's so frustrating is that FDA has heaps of form requiring novel medical device applicants to undertake various testing requirements in the USA. Therefore, it should have come as no shock to the Nanosonics Executive Management and Board that FDA has made the call that it has on locating various Coris testing requirements in the USA.

So, in my book, it is one of those rare times where Michael Kavanagh as CEO has clearly "dropped the ball" and as a consequence has set back Coris to market by 6 to 9 months at least. (and that's everywhere, given that applications for approval in Europe and Australia were reliant in part on the results of certain testing that now has to take place in the USA - rather than in the purpose built testing facility in Australia).

Just as well trophon is continuing to keep the Nanosonics show somewhat on the rails.

It will be interesting to see over the next week or two whether the various analysts covering Nanosonics decide to downgrade the company even further. In the expectation that they generally will, my sentiment is moving to "hold" at least until the dust settles.

zeno9