RE:RE:Family Ctrld CompAccording to Reffinitv :
Medmira Holdings owns 72.01% X 658,364,320 (of outstanding shares ) = 474,088,147
Free Float ~ 28% i.e. 658,364,320 - 474,088,147 = 184,276,820 available for trading on TSX.
Such kind of structure is very sensitive to upside or downside swings.
I remember when I was avg @ .26 after CE approval the stock sky rocketed by 242% (.89) in just 4 days. Of course, when there is a bad news it wont take much time to go in opposite direction.
As far as I know MIR (similar to other diagnostic companies I followed such as CODX) is very transparent in terms of its financials and for its updates.
Financials we know was shared this week.
In terms of updates -
1) March 16th - FDA revised its Serological tests spec (in terms of # of samples and protocol for verification of tests)
2) April 23rd - Announced Notification Submission to US FDA Emergency Use Authorization
3) May 21st - Medmira submits its EUA package
It can take anywhere 21 days to 45 days for FDA to give EUA permission (as FDA has to verify specs of the tests; On June 4 FDA own verification of various tests seeking EUA - (
https://open.fda.gov/apis/device/covid19serology/))
There are approx 200 companies seeking such approvals so it takes time. But if a company has CE mark then it brings some legitimacy to the package
As a trivia note - there is not a single Serological-Testing-Non-Legacy company (legacy comp being Seimens, Abbott etc) which is trading on TSX/NASDAQ/NYSE with an EUA. So valuation can be tricky for Medmira (I will share my valuation view in other post).
And I have been reading lately that people are comparing Medmira vs Sona which I believe is completely wrong. An antibody vs antigen detection comp. I love Sona (Esp in terms of return) becuase there is only one company approved for such a kind of test (Quidel) but given my scientific background I am not conviced that antigen presentation is so robust yet as compared to Ab (which is also a bit dicey) but given a choice I will first get an Ab testing.
Hope this helps !