It is disappointing that the trial appears to have been unsuccessful, but it has not affected core business.
I will add that in the announcement the company noted that it expects a stronger second half of the year based on acquisition of new customers and continued demand for its product. It also plans to commence commercialisation of encapsulated products at its New Zealand spray drying facility.
I think the sell has been overdone and the sp came back a bit towards the end of the trade.
CLV Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held