Need help on this. The selloff in January or February 2013 of this year was related to device results that did not hit super significance but significance still within 5%. Most drugs and devices are approved within the 5% limit so I am at a loss to explain the sell off which brought down price from $ 4 to $ 1. Now device is before FDA. ETRM met FDA before filing PMA to discuss results. I am certain they did not want to file and have it rejected outright. FDA gave them the ok but given device is new it will need to pass before panel of doctors.
Latest request for information is simply to gather all data in before device is put in front of panel. Given that the issue relates to training, it would appear that FDA is favorable towards device especially when U.S. has such a obese problem probably 80% of the population is in this state.
My thinking is we go back to $ 4 before FDA panel, we jump to $ 6 to $ 8 on panel approval and then $ 10 to maybe $ 12 on FDA final approval.
ETRM said they would have 100 medical sales people pushing Maestro so this means at least $ 10 million in payroll if each earns $ 100K and, sales probably in the hundreds of millions.
I took a position and will hope my analysis bears fruit.