Sonic Healthcare USA has an exclusive licence for the use and commercialisation of PromarkerD in the United States (ASX: 10 May 2023). Under the licence agreement there are timelines for key events to be achieved for commercialisation to occur. The parties are in continuing discussions regarding the technical and commercial requirements for a proposed national launch of the test in the US. Proteomics International will provide further updates to the market as and when material information becomes available.
"Continuing discussions" is not the kind of commentary that I find reassuring. While it's hopefully not an accurate reflection of what's going on, it kind of implies that... really nothing has happened yet.... and everyone's just having a chat.
"The parties are working hard to iron out minor details with the upcoming rollout" would have been much more reassuring.
Now if you remember from that last interview Richard gave, he made things sound a bit more positive (issues to do with the size of the rollout etc). (And best of luck to the interviewer who was clearly trying to build up her youtube channel).
But this is frankly a bit weak, and to be (again) in the situation where the company is waiting for a sizeable R&D rebate to help with the financials is a bit of an eye-roll. I was irritated by the last capital raise. If they have to do another, (particularly if they aren't earning any sort of revenue by then) then really, it'll be very tempting not to just give up on the whole thing.
It's not just about being patient- it's about being patient in the face of no useful information from the company.
On the other hand, they say that part of the spending this quarter was on the rollout, which hopefully means, you know, investing in the rollout, not just investing in plane fares to talk about the rollout.
Maybe the section above it- which shows pictures of the robot and the 80 patient testing kit- is meant to be reassuring. Maybe the point of that is to show how they've built the tech for scale-up. In which case, spell it out Richard, make it obvious.
A bit annoyed but, hate to say it, maybe not that surprised.
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