Yes I would concur with your sentiment there Croki.
While nothing is certain in this current situation it is gratifying to note that there must have been quite a lot of protest by a number of influential and authorative groups and organizations at the Novitas decision to cease coverage of Cxbladder tests. The fact that Novitas has essentially been forced to listen to arguments and presentations in favour of the PEB tests in a public hearing is very hopeful for a better and more positive outcome.
It certainly opens the door for the possibility that with the spotlight being shone on the quality of the tests and the benefits that the tests offer patients then Novitas will have to concede that their view cannot be supported by the weight of evidence against them. If the major players in urology can come to the defence of PEB's tests and show how valuable they are for patient well being then Novitas may well have to acknowledge that they have made a wrong judgement and provide PEB with full coverage again.
The question will be whether Novitas is prepared to admit their error and change their ruling or will they try some other tactic to protect their position and make some further requests for more substantive proof and data.
If the case for PEB's test is presented in these public hearings with authority and indisputable evidence by significant professionals then Novitas will find it difficult to stick to their original position in my opinion.
If that happens and PEB's tests are again included under coverage then that will see the dark cloud that has been hovering over the company for a year will be lifted and the share price will lift significantly again and should go way past the sub 50 cent mark that it has hovered around for the past year until the recent collapse.
I agree it could well be a good time to top up but it is going to depend on how Novitas reacts to the public clarification sessions.
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