So what exactly happened in Q3 that would cause revenue to come in below my bullish estimate of $33.4m and for gross margins to decline over 10% quarter over quarter?Plug's financial report left a lasting negative impression with investors as product gross margins declined from 26% in Q2 to 16% in Q3.
One potential explanation for this finding is that highly immuno-compromised patients were poor prognosis patients with the largest postoperative tumor burden who required higher doses of glucocorticoids.
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