In my humble opinion the reason for CDY having a hard time...

In my humble opinion the reason for CDY having a hard time getting profitable lies with PEB and its frustrating regulatory delays with other players, Kaiser, CMS and the VA to get its product to the massive bladder cancer market within the time frames stipulated. Goal posts have been shifted endlessly and a huge amount of clinical verification, papers published, testing and development has taken place.
This has progressed sufficiently well for several DHBs in NZ to have adopted the test into their clinical pathway. This means that clinicians are required to utilise the test when dealing with bladder cancer patients
No mean feat.
The original concept for CDY was for PEB to be making 100 million a year within 5 years. Its obviously going to take up to 10 years given the current progress as those five years are up.
Having said that it would appear there is some positivity showing up with PEB given the demeanour of the Board at the recent AGM.
CDY would have been anticipating a 3% royalty based on that figure about now with their original planning.
This would have turned the company profitable well before now without the need for additional Cap raises.
Sacking CEOs etc for something completely out of their hands would seem a bit extreme to say the least.
Biffing the baby out with the bathwater.
Im going to wait another year for PEB and Evolis combined to make CDY profitable at the very least.