I believe we are likely to get an announcement from the company...

I believe we are likely to get an announcement from the company tomorrow. There should be more news in coming days as other companies in the sector report.

I remain bullish, and willing to buy anything under 15c for the following reasons:

• The stock has been incredibly undervalued for months now, and the market never even came close to pricing in the high expected revenue growth thanks to the newly launched iTrack Advance device.
• Only 1 MAC has actually finalised the LCD, and the MACs are known for disagreeing. There is still a chance that the other MACs won't implement the LCD, and all the worries will be forgotten about.
• Good chance of overturning the decision via the appeals process. A decision like the one just made is incredibly bad for encouraging innovation and investment, I am sure there are laws against the decision and the reasoning (which hopefully the company's reimbursement consultants are able to identify and use). The LCD also includes many examples of clinical data for canaloplasty which meets (and exceeds) the time frame and outcome criteria. The quality criteria is incredibly subjective, many would see the studies cited for canaloplasty as moderate-high quality.
• We have a low enough revenue base as it is to make it relatively easy for the company to recoup lost customers through selling the new iTrack Advance (even if they can only sell it to customers outside of the USA). This is definitely not the case for SGHT. At the currently very low valuation, the company should be valued far higher on the current revenue base even without future growth expected.
• This will likely speed up the process of negotiating a partnership deal for 2RT, which will be a tremendous catalyst event (just look at DXB for a recent example). A 2RT partnership will warrant a valuation well higher than the current market cap, even if iTrack Advance were to completely disappear.
• More generally, the company still has FDA-approved best in class devices which doctors clearly demand. Moreover, Nova Eye Medical has a strong management team clearly focused on delivering strong returns to shareholders. They don't pay themselves big salaries or huge amounts of stock based comp as you see with other companies. This decision is one they really had no control over, they went through the process of getting the product FDA approved, performed remarkably well with launching the device and encouraging rapid adoption, only for the insurers to shift the goal posts and attempt to claim that the procedure is now investigational.

I'm personally not too worried about future sales. I think the company will manage fine, will make iTrack Advance profitable and will secure a great deal for 2RT. Share price might dip a bit in the short term, but it will most likely quickly rebound as investors realise we are in a very different situation to SGHT.