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  "documentTitle": "Heska Corporation (HSKA)",
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      "kind": "callout",
      "text": "Competitor Zoetis released a competitive product three months before this statement (see slide 46).",
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      "text": "Heska has repeatedly touted the prospects for its new urine and fecal analyzer, the Element AIM. However, we seriously question Heska's disclosures related to the product and the Element AIM's prospects for success.",
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      "text": "In the previous section, we noted several concerns about the Element AIM, including: Inadequate R&D spend; lack of IP; low capital expenditures.",
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      "text": "In this section, we focus on Heska's statements regarding timing, market receptivity, and competitiveness of the Element AIM and find that: Friction in adoption; competitors beat them to market; suspect disclosures; delays; questionable pre-orders.",
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      "text": "Spruce Point Concerns About Element AIM",
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      "text": "CEO Wilson at Investor Day November 2020: At launch in 2021, Element AIM will be the world's first and only analyzer designed specifically for veterinary medicine to do both fecal and urine imaging...",
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      "text": "At launch in 2021, Element AIM will be the world's first and only analyzer designed specifically for veterinary medicine to do both fecal and urine imaging in a fully automated manner that is supported by AI for the best user accuracy and efficiency — CEO Wilson at Investor Day, November 2020",
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      "text": "Our Research Calls Into Question Heska's Claims Regarding the Upcoming Element AIM Product",
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