I think management overestimated the ADAPT technology and possibly why it still haven't received regulatory approval in the Australia (country of origin), hence they spent a lot of capital on trying to make it successful to get AHZ into the $500M+ MC. Undoubtedly, they took this path for a year too long so it's now only a small revenue maker for AHZ, so they've changed their strategy and re-band to now a TAVR bio-tech start-up with ADAPT maybe able to cover most of their operation and administration cost and since TAVR is in clinical trial this mean a majority of this technology development has been costed except for the clinical trial cost which they can claim at least half on R&D rebate.
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