SAGES stands for Society of American Gastrointestinal and Endoscopic Surgeons. Given where Pinpoint is most applicable you can see how important this meeting is to Novadaq. I am checking to see when SAGES indicates the 2014 meeting agenda. As with other things, I am hopeful that Pinpoint is on the agenda.
Bear in mind this is a Canadian company not very well known to the retail investment community in the U.S. You need look not further then the scant daily activity on this message board to see evidence of that fact. However, the stock is not unknown to the institutional investment community which has increased the position it has in the company from 30% two years ago to 72% today. Is the stock being manipulated? Who knows, who cares. All I know is that the pps has increased from $5 two years ago to about $21 today.
On another issue, I am now hopeful that the Pillar results will be published April 1st just prior to the SAGES annual convention that starts April 2nd.
Let me take a crack at your question, who is in control when it comes to making it standard of care. There is a term commonly referred to as Current Procedural Terminology or CPT. CPT governs the standardization of terminology and procedures in the medical industry and is overseen by the American Medical Association or AMA. The AMA has a group called the CPT Editorial Panel to whom medical companies such as Novadaq can submit trial results and other information in order to have the CPT include the use of Pinpoint in certain procedures. Bottom line to your question is I believe the AMA controls this process.
Not sure if you saw the investor day presentation, but one of the presenter doctors indicated that if the results
of the second half of the pilar study are as good as the first half, the medical industry will be confronted with a moral dilemna. Should they immediately move to making Pinpoint a standard of care or require a confirmatory phase III study that will take a great deal of time to accomplish. This latest 30 patient study adds fuel to the fire.
All of the Institutional Investors have now reported their outstandings as of 12/31/13. Their ownership now represents 39.5 million shares or 72% of outstanding shares. On another small postivie note short interest declined in the most recent report from 1.1 million shares to 870 thousand shares. My hopeful expectation remains that the Pilar study results are published in an early March journal. It would not surprise me if it was the American Journal of Surgeons. They usually publish the first week of the month.
As expected, institutional ownership expanded to 39 million shares or 70% of the 55 million shares outstanding as of 12/31/13. JPMorgan Chase remained relatively unchanged for the quarter with their exposure declining by 200 thousand shares to 6.02 million shares.
There you go again. Lecturing us. You write.....realize that you fellows haven't made
a profit since the close of 1/31/14.....
What you failed to do was ask yourself a couple of simple questions before you posted.
For example, have they made a profit since 1/31/13 ? The answer is a profit of over 100%.
Go a step further. Ask yourself have they made a profit since 1/31/12. The answer is a profit of nearly 400%.
Now ask yourself a final question. Do I have justification to lecture folks who have made a 400% profit on a stock in the last two years ?
henry, this message board that you repeatedly lecture does not seem to be populated by traders and technicans. By now you should have become aware that it is populated by investors closely monitoring the fundamentals of the company and not the day to day gyrations of the stock price.
You write that mutual reinforcement of thought does not bring profit. Tell that to the folks like Fish, Andersongordon and nisku, who when the market crashed and the price of Intuitive Surgery dropped down below $80 per share were constantly, mutually reinforcing the long term prospects of the company. It helped them and me remain strong in our commitment to the company. The stock subsequently went to over $500 per share. What you see here is not mutual reinforcement of thought, it is mutual reconfirmation of individual due dilligence as it relates to the fundamentals of the company. Traders such as yourself on these message boards always have difficulty understanding that concept.
Unquestionably, a tough week for the pps. But this has happened before as we gradually moved from a $5 pps to our current $18.15. As this year continues to unfold we have a number of high quality aces in the hole. Here are a few in no particular order:
1) The near term release of the full Pilar study. If the full study shows none or 1 or 2 events of leakage the positive impact on the viability of our equipment will be substantial.
2) 80% of ISRG robot systems are now being sold with our equipment attached. Every day more and more surgeons are becoming firmiliar with our equipment and are passing their opinion on to hospital administrators.
3) Hundreds and hundreds of thousands of women in this country are hooked on pain killers because of endometriosis. Doctors do not put many of these women in the operating room because they miss so many of the lesions during the operation. Many of these young women cannot have children. Later this year and into 2015 we will begin releasing trial results in this arena. This will put this company in a major league spot light.
4) As with 3 above the same can be said for our work on lymph nodes.
5) As 3 and 4 are being developed we need to bear in mind that as with ISRG our income will increasingly come from the sale of the razor blades. We now have 1200 units placed and knowledge of the viability of this equipment constantly spreading amongst surgeons. Someday in the not to distant future we will look back at the past quarters kit sales of 6400 and laugh.
On and on I could go. Am I the only one highly enthusiastic about our future? Am I blowing smoke up my butt?
Maybe so, BUT the Institutions seemed to feel the same way as each quarter the percentage of shares held by institutions gets larger and larger.
You are in a difficult situation on this message board. You are basicly a trader trying to influence the thinkig of long term investors here. Most posters here fall in that category. We have and continue to do our own due dilligence. More important then understanding how the market works, we understand how this companies products work and how basic business works,particularly in the medical industry. You unsuccessfully try to convince us of the dangers of patent infringement by the likes of Samsung. You try to convince us of the limited resources of the company, never acknowledging the $182 million in cash on their balance sheet. When knowledgeable posters here call you out on your comments, you call us children. Henry, in the business world, we use to refer to individuals such as yourself as "empty suits". In a nutshell, I would like to buy you for what you are actually worth and sell you for what you think you are worth. That would be a handsome profit indeed. You need to find another message board to ply whatever you are trying to ply here . Your postings here are total nonsense.
As I anticipate the upcoming conference call thursday I am reminded of an old Wall Street truism...." On Wall Street money flows from the impatient to the patient....". While I am hopeful that a reasonable number of Pinpoint and Luna machines have been placed, I keep reminding myself that we are still in the very early stages of the marketing effort. As a long term investor I believe the most important developments for us in the near term are the continued broadening of the applications for which these machines will be used such as endometriosis. I keep reminding myself that in the long term the bulk of our earnings will come from the sale of the razor blades not the razors. So I am hopeful that Arun will have some good things to say about how the company is doing in expanding the applications.
I also suspect word has leaked out about the Pilar study. I know Arum stated at a recent investor conference that it would be published in 8 weeks OR LESS. Maybe he was playing it very close to the chest it will be published in a February issue that will be released shortly. One other possibility. 4th quarter earnings are to be released on the 6th of February. We all know that successfully implementing the marketing effort is the only meaningful risk currently for the company. Maybe word has leaked out that Pinpoint sales accounted for much more of sales then forecast. As with Vonpezel I remain hopeful that the full Pilar study shows zero leaks. The impact of that would be dramatic creating an ethical issues of whether a phase III is necessary to obtain standard of care desigination.
That is the word used by the analyst on CNBC yesterday when describing the company's technology. As an investor you could not ask for a better word to describe the technology of the company you own.
JPMorgans exposure as of 9/30/13 was about the same percentage of ownership as this SEC filing. I guess they did not participate in the recent offering.