I can offer several rays of hope.
I follow a basket of diagnostic stocks (TTOO, TECH, FLGT, ALNOV.PA, NVYTF,NSTG, QTRX, NTRA, OCX NEO VCYT MXDHF EXAS GH A NVTA QTNT ARYC QGEN ILMN HTGM TMO AXDX LMNX) Yesterday was a big mover day for many with several up double digits. BCART has the lowest valuation metrics in the field. (P/S, P/B, EV/R, etc.). That can be argued two ways 1) the company's prospects are not as good as the others or 2) BCARTs visibility is lower than the others by virtue of being listed outside the US (not on Nasdaq). Looking at the fact that BCART is launching an existing validated product worldwide that seeks to automate MDx reducing labor, expense and TAT associated with MDx, I think the problem is the visibility issue. Most of the basket firms, are focused on the US and are not launching into the worldwide market in the manner that BCART is launching Idylla. As Cepheid has shown, launching this type of a cartridge based systems can set the stage for long term growth.
Over-valuation has a way of catching up with a firm in the long run. So all things being equal the lower valuation, while painful looking backwards looks to be setting the stage for the future. The platform, partnerships and distribution systems are in place, what remains is launching additional content, securing IVD registrations and marketing/improving product traction. The increase in research papers show that traction among users is increasing organically. At some point after registrations, BCART will benefit from the pharma partnerships. It the difference in TAT helps a large pharma company secure a script over a competitor, you can bet they will market and advocate for the use of Idylla systems.
Long story short, by virtue of launching a unique product that automates MDx worldwide the addressable market reward potential is greater than just about any other MDx stock I follow, Because the valuation is low (I believe due to the Brussels exchange visibility issue) the risk is lower than most MDx companies. Unfortunately, as OxDx has explained, industry adoption/progress are slow in general. Coming out of the pandemic with lingering infectious disease testing and a huge ramp in oncology MDx as patients get the testing done that were deferred during the pandemic should set the stage for a good year. Throw in the IVD registrations in the US, China and Japan and I'm remaining optimistic enough to give BCART another year and reassess progress in 12 months.