Competitive Technologies (NASDAQ:CTTC)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Wednesday, ARN reports. They currently have a $0.50 target price on the stock. Zacks‘s price target would indicate a potential upside of 61.29% from the company’s current price.
Zacks’ analyst wrote, “Competitive Technologies’ current main focus lies with the marketing and distribution of the FDA-cleared and CE Marked Calmare pain therapy device. While several small studies provide some support of its efficacy, lack of broad reimbursement from private and public payers has been a significant headwind in accelerating commercialization of Calmare. A new CEO was brought onboard to orchestrate a turnaround which includes the plan to run two pivotal clinical studies to support an FDA PMA submission and improved reimbursement status. A near-term initiative to spark a resurgence in revenue growth includes streamlining the process to sell to U.S. government entities. While we think the new commercialization strategy makes sense, an investment in CTI is not without meaningful risk which is factored into our investment rating. We are initiating coverage of CTI with a Neutral rating and $0.50/share price target. “
Competitive Technologies (NASDAQ:CTTC) traded up 10.67% during mid-day trading on Wednesday, hitting $0.31. 23,150 shares of the company’s stock traded hands. Competitive Technologies has a 52 week low of $0.05 and a 52 week high of $0.48. The stock’s 50-day moving average is $0.29 and its 200-day moving average is $0.25. The company’s market cap is $5.9 million.
Sentiment: Strong Buy
At first, these new nerve impulses going through my central nervous system felt a bit like a bee sting or a strange vibration. But after a minute or two, the only thing I noticed was the pain receding. Even though my pain came back after a few hours that first day, it reminded me what having a normal, pain-free life was like, something I wouldn’t have thought possible.
For the first time in months, I was able to sit with my legs down in a chair — not balled up close to my body to keep them from swelling painfully. When I touched my typically oversensitive skin, it also felt different. I could feel the skin and the muscles in my legs again. It felt so weird. Good weird.
When I left the clinic after that first day of treatment, everyone in the room got hugs. I had never hugged a doctor before.
When I got home, I was able to take a nap for the first time in weeks. I actually fell asleep in a chair while reading because I felt so good.
I was really skeptical when I first heard about Calmare because I know things like TENS and spinal cord stimulators don’t work for me. I was really apprehensive, but I am so glad that I tried it and that is working.
The pain that I still experience daily is different from the pain I had a week ago. I am only halfway through my treatment and it is amazing! Compared to everything else I have tried, this is working wonders. I have pain-free times every day. Each day I walked into the clinic with less and less pain and walked out pain-free.
I have actually been able to get out of the house! I went to the mall and walked around, took my dog on a long walk, and took my family to a water park. It has been a life changer!
I’m super excited to see where the rest of the treatment takes me. I am hopeful that this treatment may allow my husband and I to finally start planning on having another baby, which was something we never thought possible because of my CRPS.
’ve only been walking since I attended the Rehabilitation Institute of Washington’s CRPS program in Seattle in November of last year, which got me out of a wheelchair and back on my feet. That was certainly a change for the better, but my quality of life was still nowhere near what I wanted it to be. A 4-5 on the 10 pain scale had become my “tolerable normal” and what I was beginning to anticipate for the rest of my life.
image (2)The thing about Calmare that boggles my mind is that after trying all manner of painful procedures and medicines, and waiting weeks or months to see a result — if you have the type of pain that Calmare therapy treats, you’ll know if it will be successful for you within a few minutes.
My first day of therapy, I walked in at a 6/10, and left an hour later, eerily close to pain-free. I started feeling a change in 30 minutes.
The pain in my legs started to creep back in after a few hours, but I’m told that is typical after one treatment.
Patients typically go for 10 consecutive days of Calmare treatment, though each case is different. By the end of that first round of treatment, the objective is that patients be pain-free for 30-90 days. At that point a booster treatment of one or two sessions will keep you going for another 30-90 days free of pain. It’s repeatable, not something your body is going to develop a resistance to the same way it might with drugs.
The treatment itself is nothing more than being hooked by a few electrodes up to a machine. Electrodes placed, I might add, well outside of any area affected by pain.
I like to think that Calmare works for pain much the same way that noise-canceling headphones do for ambient noise. The Calmare machine interrupts the chronic pain signals your brain is used to receiving and replaces those distorted nerve signals with a normal, pain-free sensation.
Calmare uses electricity to block pain signals without the use of drugs. Originally developed for people suffering from chemotherapy induced peripheral neuropathy, Calmare has also been found to be and effective at treating other types of neuropathic pain, including Complex Regional Pain Syndrome (CRPS), which I’ve suffered from over the last two years.
Calmare won’t treat mechanical pain, however. Mechanical pain in my case being the collapsed arch in my foot and the sprained ankle that led to my CRPS in the first place.
Having the pain from my CRPS gone is like listening to the sounds of the forest, after being in an office building next to jackhammers and construction all day. The volume is turned down and suddenly you’re receiving far less sensory input. You are able to notice much more subtle nuanced things that you never had the capacity, energy or space to notice before.
I can feel sore muscles in my foot again. I can feel them because my feet hurt so much and were so hypersensitive to touch and pressure that I wasn’t able to walk normally on them for nearly two years. My leg and foot muscles atrophied so much I had to retrain myself to walk with proper form.
National Pain Report
Life in Pain: How Calmare Therapy Helped Me
February 24th, 2014 by Amanda Siebe, Columnist
Living with pain every day is kind of like living next to an airport. After a while you don’t hear the jets flying overhead anymore. They’re still there, in the middle of the night and the middle of the day, unending and ceaseless, but you don’t notice every time one flies over.
Chronic pain is much the same. After you’ve had it long enough, your body accepts that sensation as normal. You no longer expect pleasant sensations from touch. You don’t expect to be able to wear normal clothes or take a shower. You don’t expect to be able to exercise muscles in that part of your body without excruciating pain.
Occasionally, however, something happens that makes you reconsider everything that you’ve come to expect. Something happens that gives you a new normal.
I started Calmare therapy last week at Pain Relief of Oregon in West Linn, OR.
Most of my pain has gone away.
January 31, 2014 by Chris Walker
Competitive Technologies wins a favorable Medicare coverage decision for its Calmare device, with labeling as a "medical necessity."
Competitive Technologies lands Medicare coverage for pain management device
Competitive Technologies said it secured a favorable decision concerning Medicare coverage for its Calmare pain management device.
The Fairfield, Conn.-based medical device company develops products for wound and pain management. The Calmare is the company's flagship product, and is used to treat neurological pain.
The Medicare decision allows for the device to be covered as a "medical necessity" in cancer-related chemotherapy treatment. The reimbursements will go to the Calmare Pain Relief Solutions, which developed the technology.
Competitive Tech's Calmare® Pain Device Therapy Garners Favorable Medicare Coverage Judgment
Ruling Appeal Establishes Calmare Treatments a "Medical Necessity" In Cancer-Related Chemotherapy Pain Case
PR Newswire Competitive Technologies, Inc.
11 minutes ago
FAIRFIELD, Conn., Jan. 15, 2014 /PRNewswire/ -- Competitive Technologies, Inc., (CTTC) (CTI), a biotechnology company, received a favorable Medicare treatment coverage judgment for its flagship medical technology device, the Calmare® pain therapy medical device, stemming from an appeal filed by an authorized Calmare practitioner in Staten Island, the Physical Medicine and Rehabilitation Associates of Staten Island, LLP (collectively, the Calmare Pain Relief Solutions or CPRS), by and through, Christopher M. Perez, M.D. U.S. Administrative Law Judge LeAnn R. Canter allowed the appeal, which resolved claims for Medicare coverage for a named Medicare enrollee (Beneficiary). The appeal allows CPRS to receive reimbursements for treatments using the Calmare Therapy for claims made in behalf of beneficiary.
In the early part of 2011, CPRS was denied Medicare payments for treatments rendered to a Beneficiary who was 69 years old, at the time of the treatment. The Beneficiary had a medical history of breast cancer, for which she had undergone mastectomy and chemotherapy treatments. She had pain from the cancer-related chemotherapy treatments that had an intensity level of 7 on a scale of 10, and a pain recurrence of 75% of the time.
The Calmare treatment was denied reimbursement coverage mostly due to the lack of inclusion of a Current Procedural Terminology (CPT) treatment code descriptor that would apply to the treatment type inherent to Calmare pain treatment therapy. CPRS filed an appeal (ALJ Appeal No 1-1009277156) to the Department of Human Services Office of Medicare Hearings and Appeals Midwestern Field Office in Cleveland, OH.
Judge Canter's ruling established that there was reliable evidence and sufficient d
Sentiment: Strong Buy
Doctors from The Best Health Institutions in the Country are referring their pain patients to Calmare
Dr. D'Amato has personally trained physicians from the MAYO Clinic in Minnesota, Walter Reed Army Hospital, University of Miami and MDs affiliated with Harvard Medical School. Patients have been referred to Dr. D'Amato by doctors from prestigious Medical Institutions, including: Johns Hopkins, the MAYO Clinic and the Cleveland Clinic.
They must be getting good results!
Sentiment: Strong Buy