Incorrect mate. Continuous disclosure regulations state the following:
'Once an entity is or becomes aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities, the entity must immediately tell ASX that information.'
Material news, whether positive or negative = a company having to inform the ASX.
I do agree that further studies, albeit a grey area, might be deemed to NOT be material and hence no need to inform the market.
If FDA rejected clearance, CDX is required to inform the market as per continuous disclosure regulations.
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