非投资建议，仅为个人笔记。
2023/01/13 JPM Healthcare Conference 会议更新：
公司战略重点：1) 追求稳定/有质量的增长，争取2024年实现正向毛利，2）更为谨慎的资源配置，确保账目资金(1.4亿美元)可以支撑公司运营至2026年
销售和安装流程：
运输和安装（2-4周） > 现有GMP标准下的验证过程(6-9个月）> 日常使用
Customer orders the system, it's shipped and installed installation can take anywhere from 2 weeks to 4 weeks, depending on site access and the facility layout. Then it goes into validation. And this is the process by which the system will be validated under GMP to be the system of record to perform the actual test. It's a very important process. That can be between 6 and 9 months. And we've been working over the past few years now to reduce that. Historically, that used to be a year or more to give you a sense of where we are now is closer to say 9 months at the high end of the range from new customers and 6 months for repeat customers.
运营情况：1) 美国市场（药企工厂）的安装已经恢复，2) 欧洲市场（药企工厂）的销售和安装仍然停滞 - 以远程沟通为主。
FY2022 result: 收入1700-1720万美元；FY2023 guidance未提供
总结：2023年没有显著的catalyst；市场下一个关注点是2024年毛利率转正(Turn positive) - 有助于公司吸引value / special situation investor；公司现金可持续到2026年。
目前市值为账目现金的1/3，可以视为免费的2年期Call Option (2024正向毛利）。