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.
After the RS you spoke of the shorts "jump on" but you said nothing about institutional investors. They are the one that Dr. Chan has spoken with. If I was a short I would wait to see what the institutional investors are going to do before I would "jump on." After all, the float is going to be considerably less and if the demand is there, the price may go up and could form a base with limited, pps, down side. Taking a short position immediately after the RS may be risky.
The operative word there is "potential." I think the RECESS study results may have nixed a partnership or at least delayed it. The clinical studies will be forth coming, Chan has little control over that. Revenue growth and uplisting are happening with institutional ownership on the horizon.
The company continues to move forward albeit it a pace slower than what even Chan would like.
At a ratio of 9 to 1 and a filter cost of $500, it would only take 1 adverse event at a treatment cost of $4,500 for the insurance company to breakeven. Sepsis and SIRS cost are many more times $4,500 so it would behoove an insurance company to avoid the I SIRS case by mandating filter use even if it is a prophylaxis.