Ann: LDX received authorization to sell CoviDx in Canada, page-21

The way the market reacted to the EUA news from the FDA on FebriDx and given their significant spare production capacity it looks pretty clear that FDA approval for FebriDx is what the market is waiting for.

Given the current and near term expected cash burn combined with cash at hand I'd say that the FDA approval of FebriDx is the only thing likely to stave off another raising in 6 to 9 months time, hence the current market weakness.

I estimate that if run at close to full capacity then the contract services and product manufacturing could achieve revenue of $150m pa (more if the manufacturing shifts more to their own products) and with their margins that would equate to them being cashflow positive and making a nice profit.

Disclosure: I hold, have recently topped up and will most likely look to buy more in H1 CY 2022.