AVR burns a lot of cash, high employee costs, has limited revenue with a time limit, is not yet in the all ords, is illiquid (so clients can’t get a meaningful position) has a poor history, is wrongly described as a Biotech, and is years away from commercialisation. Need I go on?
These funds and brokers have certain criteria that a company needs to tick before they will do research. I love this as it means we are still way under the investment community radar in Australia. In the US we will likely get more coverage when we list on the Nasdaq. We have already had Credit Suisse write a small research note a while back.
We will be a much bigger company with more liquidity closer to commercialisation and or partnership when we start to get a real following. For now, the mainstream Australian investment community mostly does not understand or trust that what we have is real (evidenced lately by two “experts” on the “call” show.
In the states it will be different as they have well known and followed TAVR companies and know what it’s all about.
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