The estimated cash flow for next quarter will give you a guide of the salary cost reduction and the redundancy cost (some of it at least) and given they are now focusing on bringing TAVR to the market, they will get at least 50% on R&D refund.
Market is still very concern about their expenditure, hence the pps did nothing despite the very good 4c but a few more of this....I think investors will be buying a premium if this happens.
Ann: Appendix 4C - quarterly, page-15
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