FDA approval of Augment would compete with use of these products:
FusionFlexDBM, Allomatrix DBM, ProStim DBM (Wright Medical)
DBX brand DBM (Synthes)
Puros DBM (Zimmer)
PRP Platelet Rich Plasma concentration systems (all big Ortho companies have one at this point)
well guys...I dumped 60% of my position. I'm probably dumb for doing it, but after listening to the CC yesterday, even though the CEO and CFO tried to put on a positive attitude, I could sense they felt defeated and were exhausted.
I was really banking on getting EU approval of Augment by June, but since the EU has put that on hold due to Gem21S re-review, it's going to be even longer for that. I know there is a very small chance of getting a buyout offer that could shoot the PPS up some, but I just feel like it's going to be dead money at least for another 8 months.
I unloaded a portion of my position as well based on the PR and CC. The portion I unloaded was 'trading' shares I had bought just a few weeks prior to earnings Call. I too, see it as dead money but for 2-3 months not 6 months.
They seemed defeated I agree and the constant clearing of their throats and coughing was annoying to listen to! I think Halls or Ricola should have paid for an endorsement slot during the CC! We were led to believe the Canadian Injectable study results would be out by the end of Q1 but that was moved out 3 months. The EU delay due to Luitipold will also make this more likely 'dead money' in the near term. The lack of collecting the 10 million as expected this quarter also can hurt as there will be a long delay in collecting it if at all (after a legal fight). That is about $.30 per share so not insignificant!
Frankly I am a bit surprised we didn't fall below $2 but am glad we have not as I still have a bunch of shares. Hoping and wishing for a buyout is not a smart strategy if that is ones only reason and usually one will be disappointed. However, it is always a possibility and should not be fully discounted either.
June of this year will provide more clarity on the $10 million issue, Canadian results and hopefully the EU approval of Augment. Until then, unless there is a 'buyout' or partnership I see no catalyst. However, this could be a key time to accumulate shares for an institution wanting to take a large stake.
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