Did a bit of digging on the TGA and even though everyone is disappointed with the result, their decision to withdraw was wise one.
If they had tried to justify their position and gone over the 20 day limit, the TGA would cancel the application immediately and thats it, back to square one. When you resubmit, you go to the rear of the line and its treated as if this is the first time they have seen it.
However, if you withdraw its a very different path. You get the opportunity to choose the same assessor again. Which means they are already very familiar with the application and the focus is just on the outlying questions that the TGA wanted fulfilled. Essentially there is a very good chance the application could be approved much quicker.
From what I can tell the TGA really doesnt affect any of their over seas markets at all. They have their own approval processes and couldnt care less if the Aussies have a hang up about something.
I belive the timeline to resubmit and reach TGA approval is much shorter that what people are thinking. And once they give a solid timeline to the process there should be a significant bounce in the SP. Time will tell.
RHY Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
