Formulary relates to a Pharmacy. I understand your intention but the filter is a medical device so it may not be subject to a pharmacy review.
I agree. Remember - The last time we heard Dr. Chan made the statement that the total number of treatments has increased to 8,000, this is an increase of 2,000 treatments from the previous report. We could see record revenues in the third quarter and could see close to about a 100% increase in sales over the second quarter.
The reasoning is from 2012 to 2015 the total revenues are $8,367,672 (this includes grant money) and is for over 6,000 treatments. A treatment has not been clearly defined by CTSO, it is probably a mix of cases from different modalities. Regardless, the ratio of revenue to treatment is $ 1,394., the third quarter the number of treatments increased from 6,000 to 8,000 - multiply that by the ratio and incremental jump is $2.788MM. That may be on the high side ( considering grant money embedded in the ratio) but we could see $2MM in filter sales in the third quarter which would be better than a 100% increase over the previous quarter!
Give its potential of multi-billion dollar markets, CTSO is simply undervalued. With 25MM shares at a pps of $8 yields a $200MM market cap . What its value should be is anyone's guess but the upcoming catalyst (revenue growth, EAP, CBP, Hemodefend and etc) will reinforce/demonstrate what the company should be valued at, but it will be a lot higher.
Remember - this past quarter Dr. Chan made the statement that the total number of treatments has increased from 6,000 to 8,000. We can expect to see record revenues in the third quarter and should see close to about a 100% increase in sales over the second quarter.
That would equate to a market cap of $2.5 billion. There is only about 25mm skares outstanding given the market potential of billions of dollars. It can happen but who knows when.
With only 30MM share the rise to $7.40 yields a market cap of $222MM. Even a double of the current pps would have a market cap less that $500MM. There are drugs that are in various phases of development that have a market cap of a billion dollars plus. Give its potential of multi-billion dollar markets, CTSO is simply undervalued. What its value should be is anyone's guess but the upcoming catalyst (revenue growth, EAP, CBP, Hemodefend and etc) will reinforce/demonstrate what the company should be valued at, but it will be a lot higher. .
I will not go so far as to it will not happen, but both companies may be eyeing CTSO but Dr. Chan had said that won't happen. I suspect they may pay to be strategic partners.
From 2012 to 2015 the sum is $8,367,672 (this includes grant money) and is for over 6,000 treatments. A treatment has not been clearly defined by CTSO, it is probably a mix of cases from different modalities. Regardless, the ratio of revenue to treatment is $ 1,394. The last time we heard, the third quarter the number of treatments increased from 6,000 to 8,000 - multiply that by the ratio and incremental jump is $2.788MM. That may be on the high side ( considering grant money embedded in the ratio) but we could see $2MM in filter sales in the third quarter which would be better than a 100% increase over the previous quarter!
Consider the distributorships in the different countries each of which should be close to completing the evaluation process of authorizing use/ reimbursement of the filter, the number of treatments should begin to grow exponentially from here. In the upcoming third quarter conference call, Dr. Chan's forward looking statements could really ignite the PPS.
Pears - you have a good point, a multi billion dollar market for a stock with a market cap of $180MM. There is a huge amount of upside! Keep in mind we are still in the early phase of the product life cycle.
This is todays PR regarding enrollment in the two ongoing trials - things are moving right along.
"On September 16, ReGenTree, LLC, a U.S. joint venture owned by G-treeBNT Co., Ltd, and RegeneRx specifically created to develop RGN-259 in the U.S. for ocular disorders, began enrollment and treatment of patients with dry eye syndrome (DES) and neurotrophic keratopathy (NK) in two separate clinical trials. The DES trial is a Phase 2b/3 study, being conducted by Ora Inc., an established contract research organization specializing in the field of ophthalmology, at several sites in New England. The NK trial is a Phase 3 trial, also being conducted by Ora Inc., at eight sites in the Eastern U.S., including several major medical centers. Both clinical trials are randomized, double-masked, placebo-controlled studies.
To date, the DES trial has enrolled over 125 of 350 patients or just over 33%. The NK trial, a smaller study in an orphan population, has enrolled several patients thus far with a goal of 46. Both trials are progressing as planned and are expected to be completed in early 2016 with results reported as soon as practicable thereafter."
Todays PR: '“Our emerging partnership with medical products developer, CoNextions Medical, is demonstrating the advanced capabilities of both businesses and paving the way for the delivery of an innovative medical device.” said Tom Steipp.
here is the crux of the PR "...announces that effective September 3, 2015, the Company's credit facility of $197.1 million consists of a $100 million syndicated borrowing base facility with $77 million currently utilized, and a syndicated reducing term facility with $97.1 million currently outstanding. The syndicated borrowing base facility is reviewed semi-annually and is subject to redetermination upon the disposition of assets, commodity price changes and other factors. Both facilities have a May 29, 2016 maturity date. The Company's credit facility has been amended to stipulate that a $35 million reduction to the reducing term facility be completed on or prior to November 30, 2015 and further reduced to $25 million by January 31, 2016. The reducing term facility is expected to be decreased through recapitalization and asset divestiture activities.
In an effort to reduce debt, Spyglass plans to come to market with a broad disposition package incorporating core and non-core assets. National Bank Financial has been engaged to assist with the process. Management's attention remains on managing the resources of the Company through a difficult commodity price environment, reviewing recapitalization opportunities and ongoing property dispositions. The Company's 2015 average production guidance is unchanged at approximately 9,000 boe/d. Spyglass continues to meet all of its obligations with respect to ongoing operations."
I wonder what the agenda is for the Dec 10 special meeting.
CTSO is a thinly traded security. As when the pps was moved to $14+ pps it can also be traded (managed) to the low end. The market cap is a $180MM when announcements are made regarding EAP, Cardiac partner and the 3rd quarter revenues with forward looking statements - their will be substantial pps appreciation.
When in medical school physician education is built on case studies - so it is not an exception that a physician presents a case study to a conference. It s still a scientific presentation.