It is great to have a reasoned debate rather than just be...

It is great to have a reasoned debate rather than just be subjected to a whole lot of personal abuse like in the threads of an unnamed biotech that is rather popular on HC at the moment.

Yes Applied Proteomics looks like a bit of a disaster, I was more concerned about the low price they got for their IP given their test had been on the market for a couple of years. It makes me suspect that they had a lot of trouble commercialising it and had few sales. It could of course just be due to incompetence, but more worrying for RHY it could be a structural issue within the testing industry that means the whole idea of a blood test may really struggle.

RHY hasn't really justified why they think that their test will be low cost (once all the support and development costs are taken into account), or even more importantly if cost is an important factor in the adoption of a new test within the industry. My personal experience dealing with sections of this industry is that low cost is never a reason to adopt a new test, just one for switching between identical tests. Trying to sell a new test on price is not going to be easy.

Do you know if Trevor resigned from the CSIRO when he took up the CEO position? The prospectus is unclear about this as he was not being employed directly by RHY.