The supporting letter from the Directors that went out...

The supporting letter from the Directors that went out yesterday focuses on the relative shareholdings and investments of both OB and the 249D requestors. It has not addressed any of the underlying reasons for that 249D request. The failed TGA application is the key to this story. Who was responsible for that application ? OB, the previous CEO, the Chief Scientist ? Most likely all three. This was followed up by neglecting to provide up to date information to the market following the initial TGA request for further information in June 2022.

The Strategy & Market Update released by the company on 18 December 2023 does not represent a strategic plan. There are no timelines or steps required to achieve the IVDR or a renewed TGA application. If they could not deliver the original TGA application, is there any confidence that they can deliver on the more stringent IVDR ? Providing a strategy update 9 months after the TGA failure notice which went out on the 6^th March 2023 also seems like poor management.