Wouldn't some of you think that there would be some upside trading going into the meeting with the FDA on October 12th? Whether one trades short or long, money is about to be made on the results of that meeting. I'm long...again. I'm a little surprised to see so few risk takers. But it's early.
According to Petit's letter of 9/12, the meeting with the FDA is on 10/16 which assumes that the government's not still shut down and that previously scheduled hearings haven't been delayed which could delay Mimedx's hearing.
In terms of a timely FDA response to the meeting, remember this is the same government agency that visited the company in the summer of 2012, issued a letter regarding the visit in December and then issued a follow up letter recently. Why would anyone believe we'll hear anything positve or negative before 6 months? I doubt, other than to take to take a dangerous product out of circulation, the FDA has ever had a sense of urgency.
I'm not being either cynical or pessimistic but based on my own experience with the FDA, it moves glacially.
6900 ... its not the FDA shareholders should count on it's MDXG management who stated through their own press releases that they will report the moment they heard or know anything material.
Managements reaction will be swift and should be very positive IMO
Its had a nice couple of weeks here lately. I think everyone who jumped out when the letter was posted around $6 will come running back in if the news is either good or neutral. I would not expect too much news though because the FDA most likely will not come out of the meeting with a complete resolution.
FDA meeting is the 16th
Knowing managements experience this is not their first rodeo
I expect they will have a very thorough presentation to the FDA - not to mention the fact other companies are already using the same process
One may recall Petit had to deal with similar stupidity when he was at Matria
Why MDXG was singled out (I get leadership position) when others are using the same process will correct itself.
I see JPM being the next company to upgrade time will tell
Todays trading is technical as we failed to hold the 50 DMA ... not fundamental IMO