AlphaAngle (#Business Model / Strategy) makes a good and educated point about Anteris being outside what would be considered 'investment grade' in the traditional sense. There is an inherently speculative component to buying and holding shares in this company at present.
What makes it interesting is that - in my opinion - the market is mispricing this risk.
It appears that if Anteris wins any market share of the TAVI space it will be in the form of a direct sale or licensing deal to one of the few big players that already have that share.
The Anteris claim to a competitive advantage is a 10 year head start on data for its ADAPT tissue which is the basis of its AVR offerings. In the event a major licensing deal or sale occurs the risk of execution and market traction is sold with it.
This of course leaves the investor (or perhaps speculator) to await a binary outcome. The investment thesis is that the market has underestimated both: the likelihood that Anteris has collated a highly desireable IP protected product; and, the amount that some deep pockets may be willing to pay for it.
There is some momentum today (19/11/2019) based on Admedus' own PR of its attendance at the PCR London Valves Virtual Event. It may look promising, but potential buyers of this company's shares should be mindful that so far there has been no addition of any revenue stream for TAVR to date.
Bad luck on this one Pablo -- it happens to us all. Big kudos, though, for your frank and humble acknowledgement, and objective outline of the new situation. Most investors struggle with that (I know I do)
The fact that you are only down a few percent overall, and within spitting distance of the market is testament to the structure of your scorecard. There's every chance you'll climb ahead again as the other investment cases play out.
Onward and upward!