I have thought the same thing - but I remind myself the float is well below 20MM shares. With good growth and news, it will be difficult to sustain a walk down as investors (institutional) will buy up the shares.
I think the big risk here is if a retail investor is out of a position. Even at $10 pps the market cap is only $250MM, with distributors in 28 countries and a US FDA trial announcement up coming - I don't see why the market cap can't run up to a billion dollars near term. CTSO can be an easy double from here.
A blessed Christmas to all!
Today CTSO uplisted to NASDAQ. Because of the 1:25 reverse split, CTSO has about 1/2 as many shares as SCLN. Unlike SCLN it sells the filter in many countries and is not just China focus. The revenue potential, growth, is far greater than SCLN. CTSO has also singed Fresinius as a partner.
While SCLN spoke of using Z for sepsis treatment , CTSO is reporting positive results (case studies) of hemo filtration applied to Sepsis patients. When I hear Blobel talk of using Z for Sepsis, I remember the failed trials SCLN has undertaked and the ST brothers saying the company should not be the sole sponsor of clinical trials or at least phase three trials. While sepsis is an unmet medical need and the market for a remedy is indeed huge - Blobel's comment just makes me think here we go again.
Long ago I asked bertha if he still had any SCLN in his portfolio and he said he sold it all. I still have a position in SCLN but a much larger one in CTSO.
$50 pps, that sounds like a lot, a ten-bagger or so, but it is still a market cap of about $1.5 billion. I consider that miniscule considering the future of potential sales.
No dialysis machines will be in the OR - it is a machine dedicated for the purpose of taking over the process of pumping the blood of the and monitoring patient vital signs. A dialysis machine is not dedicated to pumping blood.
"....we view management’s marketing and awareness building strategy, which is based on clinical successes and evidence and not on a “just trust me” sales pitch, as having the greatest potential to drive demand for CytoSorb. And based on the rapid product sales growth (7 straight quarters of product revenue growth) and consummation of high-potential distribution agreements, we think it’s fair to conclude that this strategy is paying significant dividends. This deal with Fresenius is one which we think speaks particularly loud to CTSO’s successes and the growing confidence in the utility of CytoSorb."
With 23MM shares outstanding, less the closely held shares, CTSO probably has less than 20mm shares in float. When we complete the uplisting, in early January at the latest, the institutional money will start to drive up the PPS. Who knows how high this will go.
The CE approval was granted because the filter did what it was suppose to do; be safe and reduce cytokines.
Furthermore, CTSO will announce (soon) they have submitted an application to the FDA for a trial using the filter in Cardiac Bypass Surgery. That should get peoples attention especially since its use for that purpose has been well received in Germany.
bchayes - I have been long as well but my position isn't as large as it once was but it is now all "house money." Bertha is over on the CTSOD board where they post research much like what they did for SCLN.
from today's PR regarding the Romanian distributorship; "In this early phase of our relationship we already have experienced amazing therapeutic results by applying CytoSorb® Therapy to patients who suffered from extremely life-threatening critical illnesses. We are proud to have demonstrated our ability to work with Romanian thought leaders in this field and foresee an impressive development of the therapy as a whole."
The company just keeps moving forward. Albeit slower than what some would like but this is a new industry unfolding as we watch.
Add to that scenario the number of share's outstanding will be 23,262,801. I estimate that about one quarter of those shares are closely held, so that would leave about 16 to18 million in float. With even minor interest from institutions the price should not only hold up but also appreciate. With institutions bidding up the price, CTSO can issue more stock for equity financing.
Considering that analyst are projecting a 50 cent pre PPS, institutions pursuing a reduced share count could be the means to get the post PPS to $12.5.
It's in the works.
Relative to the planned U.S. cardiac surgery study, on the Q3 call management reiterated previous expected timelines that they think they will have an IDE submitted by the current year end and hope to commence the study next year.
Thanks Tony - I got my 2016 time frame from a statement I read. But as luck would have it, as I was trying to research it, I can't seem to find that source of that statement.
As always, thanks Ping. The Yahoo data matches the issued and outstanding shares of common stock - but yahoo shows a difference of about 200 million shares between that and the float which can be regarded as closely held shares. I don't know how/who compiles the float data, but I estimate that it is well below 20MM.
I am sure there are a lot of retail investors who have and will continue to hold positions so institutional investors will have to bid the up the price to get some of those shares. With 23MM share outstanding, I wonder why the BOD decided to go with such a small share count - it seems to be pretty illiquid, even if they do sell a few million more shares after the up-listing.
I don't know for sure but i expect that the float post split will be 15MM to 16MM shares. Since CTSO has cash to get it through to 2016 I don't see the need for further dilution associated with equity financing. So when institutional investors want to buy shares they'll have to bid up the PPS.