Hi There Matthjis and Lumos IR.
I am seeking some clarity on the current state of the share price and pending updates on the US distribution of the Febridx and Viradx products.
The share price was relatively level at .10c for the best part of 3 months post announcement of expansion of Henry Shein deal with continued announcements following with the EUA for Viradx. It appeared as though the company was on a pretty positive forward trajectory on the back of the announcements etc.
Understandably, a capital raising may have been required to bolster the accounts for US distribution, however I am at a loss as to why, with the 3 or so months consistent levels of .10c, the company would allow the capital raising at .07c to better the position of institutional investors and sophisticated investors? It appears this has just resulted in no benefit for the longer term retail investors as the small volume and lack of further updates has put the share price placed on a very quick downward trajectory.
Previous comments around distribution and any announcements to be "sufficient material" to consider release is a bit concerning.
What does the company believe to be sufficient and what is the company doing to mitigate the reduction in share price over the short term? We can see that there have been some distribution arrangements made with the likes of CLIAWaived Inc, Thomas Scientific, Spectrum Medical, Biovision Clinical for Febridx, however outside of the distributors, is there marketing direct to the GP office to engage sales?
Any information you can provide is appreciated.
Thank you.
