It’s disappointing to see such a big drop in revenue and cash...

It’s disappointing to see such a big drop in revenue and cash but it could be explained by:

1) A key client leaving in early 2022. It must’ve been a big disagreement with the previous management, but if they are now back on board with the new management team hopefully revenue will pick up. Although we don’t know if this was the only reason for the $6m drop in revenue.
2) A recommendation from the strategic review Is an extension to the TGA license for the sterile facility. Maybe this is what was holding them back from using the full potential of the sterile facility. Possibly some of “other expenses” were costs used in upgrading the facility to meet TGA standards. They expect to receive the license in the 3rd quarter so let’s see f that happens and if it has any impact.

It’s also disappointing that the strategic review has been completed and recommendations have been acted on and this is the first we’ve heard anything about it. Overall, I think the commentary sounds positive and I’m hopeful that the new management will deliver. It would be good if they start producing some medicines that have been in short supply lately.