Fair point, it's obviously hard to gauge what degree sales will increase as a consequence of the CE Mark. However, there are a few key points I think bolster an argument that this will be very beneficial for the company.
First, the Carestream Nano was sold in Europe as it had CE approval, however, this was under Carestream’s umbrella (we know they didn't contribute much/weren't heavily invested in developing a strong sales pipeline). Despite this, it has been previously stated by management that the demand for the Carestream Nano was higher in Europe than in the US. This approval is for Micro X’s Rover/nowx, which is a higher margin, better product.
Secondly, they already have a solid sales pipeline set up in Europe so they can jump immediately into action. In fact, it was also mentioned in a prior investor call that orders for units had already been received well before regulatory approval was achieved - indicative of strong demand. MX1 will be dispatching these immediately now that CE marking has been granted. In essence, they've already invested in establishing routes for market entry, and that market has already responded well even before the product was available.
If these indicators mentioned above don't prove to be meaningful regarding consumer demand and demand proves to just be in line with that seen in the US, it's still just opened up 80 Billion dollars worth of market to play in, I'd be amazed if that didn't result in more sales.
MX1 Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
