Excluding the $5m from the Hologic deal the cash burn reduced in...

Excluding the $5m from the Hologic deal the cash burn reduced in the March quarter due to increased revenues.

Given their circumstances it would be reasonable to assume that revenue continues to increase in the June and subsequent quarters from sales of FebriDx increase with the expanded distribution channels and exposure.

Excluding the unused debt funding and Hologic IP deal they have sufficient funds to get through to the end of calendar 2024 with current cash burn. The additional revenue from FebriDx should see the cash burn reduce however the unknown is how much by and how long they their current cash can last until the CLIA waiver is granted.

IMO it is this uncertainty which is adding to the current share price weakness, along with a reluctance of buyers to step into the market until the current share price slide shows signs of subsiding. Added to that there is the element of tax loss selling, as such I believe that we won’t hit support until July.

Disclosure, I had an earlier order at 5.5 which I pulled due to a competing opportunity and am still looking at topping up at some point in the near future.