Agree it won't happen. And perhaps $40m is too high, but I can...

Agree it won't happen. And perhaps $40m is too high, but I can tell you $20m is likely still too low. They need enough to get feasibly close enough to break even (or even jsut enough to get to the next big announcement like a TAVR launch / partner whatever) while still investing in new technology and ideas. This year alone they will likely burn through $20m or more, and there is an argument that you can't cut back costs and expand. Which is presumably why code red was only an interim cost reducing exercise before ramping up the expenditure again.

Anyway, doesn't matter. I'm just kicking things around. I just feel that if they weren't constantly in a cash flow crisis people could think about the longer term, the share price could appreciate, which would also make raising money and gaining investors a lot easier. The current cycle of run close to empty, give people plenty of time to see the writing on the wall and then raise at the last minute for a predictable discount is not conducive to holding the company shares or share price appreciation. But I am not sure they have a choice at the moment.