Quarter Ended September 30, 2015
Revenues were $1.25 million for the three months ended September 30, 2015, and $633,000 for the same period in 2014, an increase of $613,000, or 97%, attributable to increases in the Company's ClearPoint® System reusable and disposable products.
ClearPoint disposable product sales for the three months ended September 30, 2015 were $970,000, compared with $577,000 for the same period in 2014, representing an increase of $393,000, or 68%. This increase was due primarily to a greater number of procedures performed using the ClearPoint system within a larger installed base for ClearPoint, relative to the 2014 period.
ClearPoint reusable product sales for the three months ended September 30, 2015 were $239,000, and $11,000 for the same period in 2014. Reusable products consist primarily of computer hardware and software bearing sales prices that are appreciably higher than those for disposable products and historically have fluctuated from quarter to quarter.
- See more at: http://ir.stockpr.com/mriinterventions/company-news/detail/885#sthash.YbK1V2nK.dpuf
The guy has done nothing to instill any investor confidence. The stock in down over 50% since his announcement of taking over, he's diluted the stock once and just filed to dilute again and it hasn't even been a year!!!!! And here we are trading in the $.50's with a sub $50MM market cap facing an S-3 registery for a $50MM dilutive capital raise. But don't worry all their salaries are safe at the expense of shareholders. If the ship doesn't do a complete 180 in short order, we're off to stock graveyard. Very frustrating and expensive!!!!
Phase I: Researchers test a new drug or treatment in a small group of people for the first time to evaluate its safety, determine a safe dosage range, and identify side effects.
•Phase II: The drug or treatment is given to a larger group of people to see if it is effective and to further evaluate its safety.
•Phase III: The drug or treatment is given to large groups of people to confirm its effectiveness, monitor side effects, compare it to commonly used treatments, and collect information that will allow the drug or treatment to be used safely.
•Phase IV: Studies are done after the drug or treatment has been marketed to gather information on the drug's effect in various populations and any side effects associated with long-term use.
Sentiment: Strong Buy
MRI Interventions, Inc. (OTCQB:MRIC) today announced that it has received a Phase II grant award from the National Institutes of Health (NIH) for the development of clinical grade, MRI-safe Myocardial Biopsy Forceps. The Company previously completed a Phase I grant for the initial development phase of this technology, and will now enter the next phase of development.
"We are pleased to be awarded this Phase II grant with a potential, subject to NIH approval, of generating more than $1.5 million in development funding over two years. This is a follow-up grant to the Phase I work we previously completed, and demonstrates recognition by the NIH of our unique capabilities in developing MRI-safe instruments for a variety of clinical needs," stated Frank Grillo, the Company's Chief Executive Officer. "We believe that successful development of this next generation product for myocardial biopsy may enable surgeons to visualize the cardiac anatomy utilizing real-time MRI imaging, and then confirm the biopsy forceps is at the desired target. We are excited to work towards developing a more elegant tool for this challenging clinical procedure."
IRVINE, Calif., Sept. 15, 2015 (GLOBE NEWSWIRE) -- MRI Interventions, Inc. (OTCQB:MRIC) today announced that its ClearPoint Neuro Navigation System will be on exhibit at the Congress of Neurological Surgeons (CNS) 2015 Annual Meeting September 26 - 30, 2015, 26-30MRI Interventions booth (#426) to learn about the ClearPoint system's unique real-time MRI guidance capability that enables surgeons to perform a wide range of minimally-invasive neurosurgical procedures. "We are looking forward to this opportunity to showcase our ClearPoint System for MRIguided neuro navigation. In particular, we are pleased to be co-sponsoring with Medtronic a ninety minute educational Lunch and Learn Symposium entitled, 'The Emergence of Real-Time Imaging in Neurosurgery,'" stated Wendelin Maners, Vice President, Marketing for MRI Interventions. "Adoption of our technology is growing, and surgeons on the forefront of this advanced approach to neurosurgery, including Drs. Paul Larson, Robert Gross and Jon T. Willie, will be presenting their perspective on the technology." The ClearPoint system is the only neuro navigation system which allows surgeons to plan, target, and adjust trajectories under real time MRI-guided visualization for placement of electrodes, catheters and biopsy needles.
Sentiment: Strong Buy
PennyStock101 (org) has been really good for me despite all the mixed messages I have seen all over these boards. Their nyse and nasdaq picks do really well for me and my account. lol. google them when you get a chance.
I doubt it is an insider, but agree with your assessment about share price and fear of dilution. My guess is that it is someone from the last funding round who's selling out roughly even and will hold onto the warrants just to have some skin in the game.
cleaning up. wonder if it's an insider, short or long term investor. pps has been anemic for several years now. may start to see attrition as fears of dilution circulate.
Very true.My brother ran into this with his neurosurgeon in Dallas.Tops in his field.He has his procedure for doing brain surgery and is resistant to change.I got the impression that for him to adopt something new it must be a game changer both in cost savings and time savings.Maybe Clearpoint is such a gamechanger but so far the neurologists have not adopted it.
with options, for a job well done!!! Shareholders are really seeing the benefits of new management (please note the sarcasm). Meanwhile on that same day they file an S-3 for $50 million. Not that they would ever be able to raise that much in one tranche, but that would be the ultimate kick in the nuts. That's over 100% dilution!
The technology is good.Hospitals are not adopting the software a fast as they had thought.Until major hospitals adopt this technology,it will be awhile before MRIC sees any appreciable movement up in the stock price.But at this price it is definitely a buy.
Sentiment: Strong Buy
Sometimes a stock does the unexpected.At this point just average your cost basis down and extend your time horizon.Eventually it will recover.
Sentiment: Strong Buy