# TDL - TBG Diagnostics



## Kremmen (1 November 2006)

Having hovered around $2.50-$3 for most of the last year, PGL appears to now be on a nice, gentle upward trend, sitting at about $3.50 today. I'm surprised I've not seen any other mention of them here.


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## Kremmen (15 November 2006)

*Re: PGL - Progen Industries*

An announcement of substantial holding has been submitted by SAC Capital, a massive US/Antigua investment fund. They've accumulated 6.9% of PGL over the past few months, buying on both the ASX and NASDAQ. That's sure to push things upwards.


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## thecountof (16 November 2006)

*Re: PGL - Progen Industries*

I have heard the trials are looking to start for their bio product and all signs point to this being a $20 stock in 12 months.

I was given the tip at $2.75 and bought in at $3.25.


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## Kremmen (14 December 2006)

*Re: PGL - Progen Industries*



			
				thecountof said:
			
		

> I have heard the trials are looking to start for their bio product and all signs point to this being a $20 stock in 12 months.




Might not take that long!

PGLA has traded as high as US$8.74 on the NASDAQ today, currently US$7.73. I wonder how high it'll open today on our market?


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## Ken (7 May 2007)

*Re: PGL - Progen Industries*

Capital raising for PGL has seen a sharp  down turn in price...

Anyone buying at the moment? The biotech daily boardroom radio person says they are a bargain at current prices.

He also said the same thing about AVX early on.

PGL could be the blue chipper of the biotechs....


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## Ken (14 May 2007)

*Re: PGL - Progen Industries*

PGL looks like it could be up 6% in the US.

Interesting one to watch at current prices.

Long term the brokers are giving it good wraps I have read but its still 4 years away.


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## Ken (15 May 2007)

*Re: PGL - Progen Industries*

What has happened to the market depth on this one?
There's hardly any buyers at all!


Its looking very thin all round.


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## Ken (23 May 2007)

*Re: PGL - Progen Industries*

Industry news implies changes to commercialisation strategies highly relevant to
PGL

We attended the annual BIO conference held in Boston MA USA last week. More than
20,000 industry professionals attended this year’s international convention with
presentations by a panel of experts from the industry including some of the finest thoughtleaders,
CEOs and other top executives. Three of the numerous presentations we attended
were highly relevant to PGL and we remain confident the company is on the right track to
commercialising its lead drug, PI-88.

Global biotech partnering trends indicate PGL retaining maximum possible value of
PI-88

The forecast for 2007-08 for international biotech deals points towards either very earlystage
deals or co-development at the later stage of development. This trend has largely
occurred because smaller biotechs are retaining significant control over the development of
their drug as well as much of the value. PGL is a clear case in point here and it seems that
its international peers are following the same path. Consequently, pharma companies have
been forced to become more flexible in their negotiations.

Adopting new and innovative clinical trial designs to speed up development
There is a trend towards creating new trial designs and clinical development programs that
will accelerate clinical trials, improve the probability of a drug’s success, reduce costs and
increase safety for patients. We believe PGL may consider adopting a new approach
involving the druglacebo ration which would further accelerate the development of PI-88.
Buy 2 rating maintained based on $14.64 probability-weighted valuation

Whilst we remain disappointed with the heavy discount placed on the issue price in the
recent $74m capital raising, we maintain our Buy 2 rating. The various presentations we
attended at the recent BIO conference all point to PGL behaving like a successful global
biotech company. Our DCF probability-weighted valuation remains unchanged at $14.64.
We remain confident that this valuation gap will narrow over the next 6-12 months as PGL
embarks on the final stage of its commercialisation of PI-88.

INVESTMENT DATA
Share Price $5.86
Issued Capital
Ordinary Shares 59.3m
Options 0.6m
Fully Diluted 59.9m
Market Capitalisation $351.0m
52 Week Low/High $2.52 / $9.49
Valuation $14.64
Top 20 shareholders as at 30 June 2006 own
63% of total shares on issue
Year end Jun 06a 07f 08f 09f
Revenue $m 1.7 0.9 0.0 0.0
EBITDA $m -8.7 -16.9 -43.9 -38.2
NPAT $m -7.6 -16.8 -39.5 -35.8
EPS (adj) ¢ -18.8 -38.4 -90.7 -82.0
EPS growth % na na na na
PER x na na na na
Data is normalised and fully diluted.
Progen Pharmaceuticals (PGL) Buy 2


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## Ken (23 May 2007)

*Re: PGL - Progen Industries*

Anyone else positive on PGL future?
Is it the next blue chip biotech?

The good thing about biotechs is that they tend to be avoided by most, so good value can be found.

I believe there is still good value in PGL along with Avexa.


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## Joe Blow (23 May 2007)

*Re: PGL - Progen Industries*



Ken said:


> Industry news implies changes to commercialisation strategies highly relevant to
> PGL
> 
> We attended the annual BIO conference held in Boston MA USA last week. More than
> ...




Ken, where is this information from?

When quoting from other sources please provide either a link or mention specifically where the information came from.


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## Ken (23 May 2007)

*Re: PGL - Progen Industries*

Sorry the information is from bell potter report.

I believe the information to be a standard brokers report.


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## killer (31 October 2007)

*Re: PGL - Progen Industries*

Progen have announced they have been unsuccessful in the lung cancer trials but they have fast tracked FDA approval of the PI-88 for liver cancer. there has been a sharp downturn in price and major shareholders are pulling out. just wondering if anyone can shed some light on what is happening and what we may expect in the future?


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## Miner (1 November 2007)

*Re: PGL - Progen Industries*

Dear Killer

I visited ASX site and could not see the announcement of its lung cancer failure test. Could you pls send a link ?
This share has been evaluated at $12 by BP and under constant buy. However the risk is always high. 
I think there must be a bad news. The SP came down at $2.6 today- lowest in this year.
Sorry I do not have any tangible information to share.

Regards


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## Miner (4 November 2007)

*Re: PGL - Progen Industries*

Seems no one is making any noise on PGL.
Recent report is Trial Phase 3 started with allowable by pass. Details are in company announcement. If successful - PGL will reach the roof and reverse is true as well.
For some reason when every other share fell on Thursday - PGL kept up with a marginal value though.

Any expert comments on its near future please ?

Regards

MIner


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## Ken (21 November 2007)

*Re: PGL - Progen Industries*

Now is the time I am afraid where the smart or stupids investors will make the decisions that in 3-5 years time will see them for richer or for poorer.

Whether they are in or out I think now is the time to decide.

@ $2.68 i think there is no looking back.  

No hanging out for a bounce or a little positive run.

Your either in for the long haul now or your out for good.

IF PGL can get their drug to market bell potter is saying $14.00

According to my calculations thats 522% above current prices.


It is a stock that probly shouldnt take up a large percentage of a portfolio.

But if you have some profits that you want to swing into a high risk, high reward stock PGL has to be up there with one of the best on the market.


Phase 3 trials set to go.  The question I ask is why are people exiting the stock when the finish line is so close.

I have read there is a competitor in the market but also read this competitor does no interfere with Progens business operations or market.


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## Miner (6 December 2007)

*Re: PGL - Progen Industries*

Under valuation by Bell Potters - whose confidence shaken ?
Some facts : On 14 Sept 07 when PGL quoted at $3.58 this famous broker's competent research team mentioned this as a BUY with valuation $14.70.
On 5 Nov 07 the same competent team maintained the valuation as $14.70 when the share was quoted $2.87. Recommendation BUY
On 5 Dec 07 more competent people reviewed the previous research for all life science shares including PGL. It advised the valuation as $7.51 when quoted as $2.50. Speculative BUY.

Fair game of research : isn't it ? *Head you loose and Tail I win . *
I have attached three reports for fun reading . 

Regards

Disclaimer : this information is extracted from BP site and for dissemination only. I do have PGL share in my kitty as hot potato - can not swallo or vomit it . Use your own research and get professional advise based on your own circumstances.


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## Ken (6 December 2007)

*Re: PGL - Progen Industries*

that is biotechs for you.

this is why biotechs are not part of any port folio. there are better assets out there offering less risk, and uncertainty.


all risks outlined in recent prospectus.

money to be made on PGL like with any stock, but as an investor in biotechs you know you have to wait you time.  it may reach $14 but that could be in 3-5 years.


all depends if you want dividends, or consistant growth, it could all happen in a hurry for PGL.

1000% gains in 1 day, all possible in this sector.

thats the risks you take. risk reward.... what is it... please BLT, PSD, or any other biotech....


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## Miner (7 December 2007)

*Re: PGL - Progen Industries*

Thanks Ken

Your points are well taken and they are good.

My point was not on the unpredictability of Bio tech shares but more  on the about turn method of Bell Potter's analysis. I honestly fail to understand how a technical analysis based on facts, experience (mix of good and bad), access to a huge behind the scene intelligence, software, fully employed technical people the researches get 180 deg opposite. 

As a miner I do not know what is the difference between a gambler in a casino giving tips to win and so called stock analysts in reputed broking houses giving the same in the name of research, methodology, analysis bla bla.

Regards


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## Ken (7 December 2007)

*Re: PGL - Progen Industries*

Too many variables to be giving price targets for my liking.

How can you value a stock with no .eps.

I agree totally.


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## Kremmen (10 April 2008)

*Re: PGL - Progen Industries*

Have a look at what's happening now. Having hit a low of $1.26 a couple of weeks ago, they are now $2 and buyers about 10:1.


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## Kremmen (24 November 2008)

*Re: PGL - Progen Industries*

Close yesterday: 59.5c
Close today: 80c

Strategy announced at AGM today:
"1. That we will announce, within 45 days from today, terms of an M&A
transaction able to deliver a value to shareholders in excess of a $1.10 per share. This will be prior to the 14th January 2009.
This will likely require shareholder approval.
At this point, we envisage that part of any deal would involve a capital return to shareholders.

2. Should this not occur, the Board will recommend that the entire capital of the Company (less liabilities and allowances for the continuing statutory and other costs) be returned to shareholders. This is a sum we currently estimate by February to be approximately $70 million, or about $1.10 per share.
This would require shareholder approval."


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## Kremmen (24 March 2009)

*Re: PGL - Progen Industries*

AVX tried to get its hooks into PGL's cash, but failed. PGL is now going to buy back 60% of its shares at $1.10/share.

The interesting thing will be to see what happens to the share price after the buy-back. Previously, it was trading at under 60% of the value of its outstanding cash in the bank. Will that market valuation continue, or be better or worse, given that what remains of the company will be dedicated to regional development of PI-88 in Asia and its existing commitments to Cellgate and Medigen.


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## Sainter (24 March 2009)

*Re: PGL - Progen Industries*

Hi Kremmen,
Your last two posts unfortunately show that the BOD are incapable of following their own recommendations. Why is that so, and what should shareholders take from that? It is not a good look from where I stand.


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## matt1987 (29 March 2009)

*Re: PGL - Progen Industries*

hi im just wondering whether anyone can help me out - i currently own about 200 odd pgl shares (not even worth 500 so i cant get rid of them unless i want to buy more first), and i want to know whether the 1.10 buy-back that the company is doing in the near future will have a "minimum" type rule whereby they will buy-back the first 1000 (or some other amount) shares that people hold.

ive noticed the company's announcements saying that they will be able to buy back 50% or something of shares currently on issue, and therefore based on everyone accepting the buy-back, the company will purchase 50% of each holder's shares.

just trying to tidy up my portfolio and dont want to get left with a situation where i have 100 odd shares in pgl worth not much at all.


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## Sainter (29 March 2009)

*Re: PGL - Progen Industries*

matti,
Have you actually tried to sell the shares? My understanding is the $500 limit is for buying, there is no limit on selling. But having said that, I'd hold on and see how the buyback pans out first. Re your second Q, you may be best off reading the buyback proposal or ringing the company.
Cheers!


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## matt1987 (30 March 2009)

*Re: PGL - Progen Industries*



Sainter said:


> matti,
> Have you actually tried to sell the shares? My understanding is the $500 limit is for buying, there is no limit on selling. But having said that, I'd hold on and see how the buyback pans out first. Re your second Q, you may be best off reading the buyback proposal or ringing the company.
> Cheers!




hi sainter

thanks for the info. i had always assumed that there was a $500 minimum for selling since that is the case for buying. this makes things much easier (especially since i have so many small shareholdings currently not worth too much ...).

thanks

matt


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## Kremmen (27 April 2009)

*Re: PGL - Progen Industries*

Announcement to the ASX today: The buy-back was under-subscribed! Shareholders who tendered shares to the buy-back will receive full payment for all of them!

Those who bought at 80c in Nov have made 37.5% profit in 5 months in a dodgy market with almost no risk.


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## Purple XS2 (14 August 2011)

*Re: PGL - Progen Industries*

There ought to be a prize for the listed company who can achieve the lowest price per share relative to the highest cash-backing per share: *PGL*'s current SP is about 40% of cash backing: (snapshot and stats from current comsec data page)






Shares on issue: 24,000,000. Book value per share: $0.61,
hence Price/book ratio: 0.41.

A couple of years ago (as referred to in previous posts) Progen did a capital return to shareholders, which was a win for holders including the Johnny-come-lately's. Wonder if they're likely to do something similar again?

In the meantime they've licensed out what was once their maybe/could-be wonder-drug PI-88 (licensee is continuing trials). Otherwise there's not much happening. 18 months ago they poached as CEO Sue MacLeman, formerly from Benitec/BLT which I thought might signify a new beginning. Maybe it's just taking a while ... :

Discl: don't hold & haven't. Was pretty interested 3 years ago when Progen was courted by Avexa/AVX, which I did hold (and do).


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## Sdajii (14 August 2011)

*Re: PGL - Progen Industries*

I've been watching too, and am similarly puzzled. PGL was actually the first company I bought into (that's why I watch), I was one of those Johnny come lately folks who took advantage of such an obvious situation when it was pointed out to me by a friend. I also traded AVX for a while because of it, although I haven't held either for a fair while now.

PGL just doesn't really have anything happening, so no one takes any interest. They have a lot of money, but they're stagnant. You couldn't buy much at the current price, PGL is pretty much illiquid and has been for a long time.


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## Purple XS2 (16 August 2011)

*Re: PGL - Progen Industries*

Clarification to my previous: CEO Sue MacLeman is leaving this month, as announced last June. I must be catching PGL syndrome - asleep on the job.

CEO position not being re-filled: This company is setting a new benchmark for inactivity. Are they seriously going to have the odd director's meeting, file the obligatory annual reports (would take all of 5 minutes) till the end of time...?


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## Purple XS2 (22 February 2012)

*Re: PGL - Progen Industries*

Progen zombie twitching a bit lately:






There's been a couple of fairly promising announcements on their project list: PI-88 remains undead, joined by PG545, which insistently gurgles from under the coffin lid.
(refer to ASX announcements)

Market liquidity very low, but upward.

Discl: I now hold (nervously).


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## piggybank (22 January 2014)

*Re: PGL - Progen Industries*

Hi,

Very illiquid stock (only 20,000 shares were traded today) but it was enough to push the share price up just over 17% on the day. This was the last announcement (but important one) to the market on the 30th December (last year).

*PATRON Trial Completes Patient Recruitment* 
Brisbane, Australia, 30 December 2013. Progen Pharmaceuticals Ltd (ASX: PGL, OTC: PGLA) (“Progen” or “Company”) is delighted to announce that PI-88 licensee Medigen Biotechnology Corporation reached the target enrolment of 500 patients for the phase III. PATRON trial being conducted in 25 medical centres in Taiwan, South Korea, China and Hong Kong....

If you would like to read all of the report, then you can do so by clicking on this link:- http://stocknessmonster.com/news-item?S=PGL&E=ASX&N=776389

​


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## piggybank (28 January 2014)

*Re: PGL - Progen Industries*

Progen Pharmaceuticals Limited is involved in the discovery, research and development of potential biopharmaceutical therapeutics for the treatment of human diseases. The Company also provides contract services related to the process development, manufacture and quality assurance of biological products.

As to what is creating this increase isn't due to any announcements - as there hasn't been any this month


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## piggybank (30 January 2014)

*Re: PGL - Progen Industries*

Hi,

Well another big day for the stock having jumped up 28.5% but only on just under 50,000 volume. It closed at its high of 54c but this wasn't before the company had received a "speeding ticket".

Here is the company's reply to the ASX price query:- http://stocknessmonster.com/news-item?S=PGL&E=ASX&N=779818

Enjoy the ride whilst it lasts... This is *not* a tip but remember to do your own research prior to purchasing or selling shares in this company (or any other).

Regards
PB


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## piggybank (15 March 2014)

*Re: PGL - Progen Industries*

P&F Daily Update:-

​


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## piggybank (18 March 2014)

*Re: PGL - Progen Industries*

14/03/17 - Response to ASX Price Query - http://stocknessmonster.com/news-item?S=PGL&E=ASX&N=788487

It hasn't deterred the buyers pushing up the price to highs not seen since July '08.

​


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## piggybank (21 March 2014)

*Re: PGL - Progen Industries*

P&F Daily Update:-

​


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## Purple XS2 (23 March 2014)

*Re: PGL - Progen Industries*

Small volume, but with every sign of a patient accumulator.
If something pops out to justify this rise - some biotech or corporate announcement, could not the question be asked about insider trading...?

As for yourself PB, looks like you've hit a winner. But anything could happen next.


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## skc (29 July 2014)

*Re: PGL - Progen Industries*

One of the more bizarre chart pattern I've ever seen.


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## System (2 February 2016)

On February 2nd, 2016, Progen Pharmaceuticals Limited (PGL) changed its name and ASX code to TBG Diagnostics Limited (TDL).


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## Purple XS2 (17 May 2016)

TBG Diagnostics have pretty much completed their metamorphisis from the former Progen ('PGL'), having sold off or abandoned the oncology projects.

Now we're into molecular diagnostics, emphasis on the Asian - especially Chinese - martket

Their Investor preso (yesterday, 16th May) looks attractive: I might keep my eye on this mob.

Share price hopped up over the last couple of days to close at $0.285, on very thin volume, although compared to PGL trading, it's a torrent 

Regards,
P


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## Swervin Mervin (18 March 2020)

What are peoples thoughts on this one when she is finished having a once over from the ASX?

Price at posting 27c


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## Purple XS2 (18 March 2020)

Having last thought about this mob 4 years ago, I've long since forgotten them, until I reminded myself reading this thread. "Oh look: there's me!"
On the one hand, TGB Diagnostics is in the right place, and they're getting their Coronavirus testing product certified and so could one not expect handsome sales?

On the other hand, today's announcement of European CE mark approval
https://www.asx.com.au/asxpdf/20200318/pdf/44g533jcts26zx.pdf
is the second time in 3 weeks that this mob has make what is surely a price-sensitive announcement, without marking it as such on announcement-issue, which is not a great look.

From a tiny market cap a few days ago, to about $60 mill now (a 10-fold increase) I'd be pretty cautious.


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## Miner (19 March 2020)

Purple XS2 said:


> Having last thought about this mob 4 years ago, I've long since forgotten them, until I reminded myself reading this thread. "Oh look: there's me!"
> On the one hand, TGB Diagnostics is in the right place, and they're getting their Coronavirus testing product certified and so could one not expect handsome sales?
> 
> On the other hand, today's announcement of European CE mark approval
> ...



I registered on this thread some years back as a PGN holder and lost interest until few postings happened. Looked into performance - woh - a whopping 500% increase when others were slogging and moving south fathomless.
ASX did not wake up on 17th March (Corona fear) but woke up today 18th March.

https://www.asx.com.au/asxpdf/20200318/pdf/44g5bmwqkhbddn.pdf


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## Purple XS2 (19 March 2020)

The ASX watch-poodle is either very unhappy with the manner in which TBG Diag issued their recent announcements - in not being flagged as price-sensitive - or possibly sniffing something rather naughtier.
After 2 responses to ASX queries (reponse to price query, response to aware query), the suspension of day before yesterday (so: March 17th) hasn't been lifted.

Discl: don't hold.


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## Swervin Mervin (20 March 2020)

Purple XS2 said:


> The ASX watch-poodle is either very unhappy with the manner in which TBG Diag issued their recent announcements - in not being flagged as price-sensitive - or possibly sniffing something rather naughtier.
> After 2 responses to ASX queries (reponse to price query, response to aware query), the suspension of day before yesterday (so: March 17th) hasn't been lifted.
> 
> Discl: don't hold.



Yeah I’m hoping it gets lifted soon as I got caught on Tuesday. I really don’t know if it was a good or a bad thing that I managed to get some in the “insider trader window”. With not much to go on other then they are making testing kits it’s hard to make a valuation on the company.


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## Purple XS2 (6 April 2020)

Plot thickens with TBG Diagnostic informing the market with "Update on TBG Xiamen COVID-19 Virus Diagnostic Test Kit"
https://www.asx.com.au/asxpdf/20200406/pdf/44gr64r9dtt1pb.pdf
Some update.
Chinese export authorities are banning exports of products such as TBG's Chinese subsidiary's COVID-19 testing kit, that do not have the 'required China medical device product certification'.

So it seems while the product is certified by at least one of their major target markets - the EU (see post of March 18th, above), because it is apparently NOT certified within China, it can't be exported.

oh dear.

There are several players in the ASX moving into this market space - GSS, CDY.
TBG Diagnostic may be left on the kerb.


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