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Based on evolving market dynamics with COVID testing and the current financial environment, Talis has discontinued investment in commercialization of its stand-alone COVID-19 assay under Emergency Use Authorization. As part of this decision, the company is refocusing its resources on large and long-term market opportunities in Women’s and Sexual health markets, beginning with a multiplex panel for Chlamydia Trachomatis and Neisseria Gonorrhoeae (CT/NG), which is currently under development.
“We have an innovative, high-performing platform with Talis One, evidence that we can manufacture cartridges and instruments at scale and $165 million in cash to execute on our strategy,” said Rob Kelley, chief executive officer of Talis.
And todays tests are better and cheap.
This company is too late.
They should stop and pay out the cash.
The stock is trading at all time low and the net cash value is more than $3 per share.
This is criminal.