RALEIGH, N.C., Sept. 18, 2014 (GLOBE NEWSWIRE) -- Baxano Surgical, Inc. (BAXS), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the lumbar spine, today announced that the Company has engaged Houlihan Lokey as its financial advisor to advise it on potential strategic alternatives for the Company's business.
"We have made solid progress on the major milestones we set out to accomplish in 2014 including our new product launches, economic based clinical data and the building of our hybrid sales organization," stated Ken Reali, President and CEO of Baxano Surgical.
There can be no assurance that Baxano Surgical will enter into any strategic transaction as a result of this process. Baxano Surgical does not plan to disclose or comment on developments regarding its strategic alternatives review process until further disclosure is deemed necessary or appropriate.
When you take out 11.5 million of shares from the market, you would expect the PPS will move up in the short term from the spring theory, even though I will hold my shares at least two year down the road.
Institutions own 130 million shares. The OS is 114 million, and the shorted shares is 16 million. I wonder how many shares our long retailer investors still have in MNK.
So far, they have not found a better way to market their product. I have followed their last two conference call. At one time, they expanded their direct sale forces too much and the sales results were not very good, so they had to cut their sale forces in the first Q this year. Now their had a hybrid sale channel including regional distributors and direct sale personals. But it won't see the distributor's contribution until the end of this year. In this sense, Don Bailey had done much better job in marketing new indications for Acthar Gel. He started a small group and get the experience and later on they expanded their sale force. But I think the training course for the new surgeons announced yesterday are much better way to increase their product exposure.
I have been adding BAXS from 0.66 to 0.31 in the last two months. They had a great product for spine surgery which they charge at $100, 000. The down size is they have not finalized the financial term yet for the next round fund raising campaign. So it might go down to 0.25. I guess 0.30 is the bottom. My guess is baxs could be next QCOR. I will hold it for long term. Do your own DD!
Hi, Bulldog, I agree with you and todd. The shorts are receding from us. MNK should be a long term investment from here. I invested all of my $ 30 dividend back to MNK with average price at $73.15.
BTW, I would envy you have the chance to watch the game in the sky box. I have never had such opportunity before. The only thing you need to say is roll tide!
11.5 million shorts has covered from August 15 to August 29.
27.287 million shares shorted on August 15. The outstanding shares are 114 million. So 23.9% of the shares has been shorted. Source: NASDAQ MNK
though everybody knows that never invests your money just based on opinions on the YMB, and I did my own DD on QCOR, I still appreciate many honest people on this message board to share their research result and their point of view. Without them, as a new investor, I could not wait to the end. I probably am going to following those great people through out rest of my investing life.
John, Is that local time of Ireland for MNK? Then we should hear something before market opening.
I would guess we will hear from MNK first since it is in Ireland.
Biotrend, Do you think EDAP has any chance to get FDA approved after advisory board meeting? Why did the advisory board gave such negative recommendation if the instruments really work?
This is my fist time to notice that longs' posts have been more thumb down than thumb up! And a lot of newbie shorts shows up and they look like a flea in a hot plate.
Jamie, Thanks. I will check it out. If it true, it will be a nightmare for the shorts. But I prefer MNK to have time to grow. My target is $220 in 2 years. BTW, I will have enough shares when my QCOR shares are converted to MNK shares. I will keep my $30 as dry powder just in case the shorts do something good for us.
If the shorts keep MNK low, I will do the same! If there is significant pps increase after, I will probably wait for an entry.