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CryoLife Inc. Message Board

  • dlhild@ymail.com dlhild Oct 30, 2012 10:04 PM Flag

    PerClot

    PerClot, now this subject was good for a laugh. I'm glad SA has some humor sometimes anyway. As I recall, it was not long ago that SA said something to the effect that GS was a lousy CEO because he "...did not defend Medafor's intellectual property". Something like that anyway. Now he's calling Medafor "litigious", because Medafor is defending its intellectual property. It seems to me that from the SA point of view GS is dammed if he does and dammed if he doesn't. I had to laughed at this one. Also, at least per Robin Young, Robin called SA the "Bad Boy of Biotech", in part because of SA's "litigious" nature I think. So it seems, that who is "litigious" is a debatable subject. That's my takeaway anyway.

    Anyway, these are my PerClot sales numbers (better check them yourself too):
    Q4 2010 $264,000
    Q1 2011 $660,000
    Q2 2011 $631,000
    Q3 2011 $620,000
    Q4 2011 $617,000
    Q1 2012 $644,000
    Q2 2012 $691,000
    Q3 2012 $734,000
    It doesn't exactly appear like CRY is getting a lot of RPM's here. In fact, it looks like SA & Co. are growing PerClot sales at a pretty mediocre growth rate. My guess is that the PerClot cost center is presently more likely than not to be operating at a loss.

    Jeffrey Cohen of Ladenburg Thalmann at least asked about the Medafor letter. I have to give him credit for at least asking. SA answered the way I thought he would, saying he's not worried about it. Remember though, CRY doesn't have a patent and Medafor does have a patent, BIG DEFFERENCE. Maybe SA is right, but he can't be sure he's right, so no matter how a person slices and dices the pie, CRY is risking I would guess about $18 million on a crap shoot. One way, is if Medaor's patent is not upheld, SA shoots himself in the foot because CRY's 2.39 million Medafor shares would likely be worth less than would otherwise be the case. On the other hand, if CRY can't sell PerClot in the U.S. CRY will have wasted roughly $18 million (pre-tax). Obviously, being able to sell PerClot in the U.S. would be worth more than the possible reduced value of CRY's Medafor shares. I think SA is still PO'ed that GS bested him last round, and now SA can't get over it, just my opinion. In any case, it looks to me like a bit of a delay in going forward with the U.S. FDA PerClot approval process. So are we now talking 2015 now before U.S. FDA approval of PerClot and before litigation commences? Who knows. No matter what though, SA can't be sure of his position, at least I can't see how he could be sure about it.

    PerClot "SA... PerClot absorbs 4 or 5 times more fluid upon contact than Arista". Frankly, I don't know if this is, or is not true. Frankly too, I doubt it. I have to wonder though how much "blood" ( as opposed to "fluid") PerClot absorbs.

    Remember though, that SA makes statements sometimes that are not necessarily backed up by fact, at least I feel that way anyway.

    So who knows. Future litigation? Count on it, would be my view.

    Do your own due diligence.

 
CRY
9.84-0.03(-0.30%)Oct 1 4:03 PMEDT

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