RE: Clarification Please30 Oct 2024 08:28
Morning SZ. It’s an interesting statement to say the least.
“ The materials tested under the Company's Material Transfer Agreement ("MTA") with a heart valve company have successfully met all the expected results for the tests undertaken; however, at this point, it is not expected to lead to a commercial agreement due to current priorities of the Company's MTA partner. Notwithstanding this, the results of the MTA have confirmed the management's belief in the potential for AurTex.”
It’s odd to test a product for a year, pass all the tests, and then decide it’s not a priority for the testing company. The good news: all the tests have been passed, AND it’s led to improvements in the product.
The bad news is obviously no ongoing deal. Has the HV manufacturer found a better product? Please don’t take that as fud / deramping. Or has it simply changed its mind on developing a new valve?
Going forward, we’ve got a better product than a year ago. Let’s see who’s going to be interested.
Not surprised there’s been an initial drop in sp. Some people are bound to have wanted a quick profit on news about a commercial deal for Aur Tex. They’re failing to see the good outweighs the bad in this RNS. A solid, growing, soon to be profitable company.
GLA