Thats correct about sleep apnoea not going away. However, money is going away quite quickly and OVN needs plenty of it for the next while. The scarcity of funding means that, at the first level, all valuations are being depressed across the board, including OVN. But OVN is more leveraged than the average company to finance markets because it needs to ask for more some time this year. The finance markets will demand greater returns for funding risk like OVN, which means the financing will come in exchange for greater amounts of our equity, meaning further depressed SP.
Its a little early to be calling green shoots as well. We are yet to find out if the US is going to have to implement measures similar to Italy and China have had to - and there is a distinct possibility of this since their awareness of where the virus is seems to be quite limited. The US is our main market and a lockdown there will certainly delay OVNs growth, further increasing the need for cash burn capital to get through it to the other side.
OVN Price at posting:
40.5¢ Sentiment: None Disclosure: Held