You wouldn't say that if you had been diluted a dozen times. I was one of the first ones on this board. I would get personal cheer leading calls from Dr. L back when the stock was at $0.65. I have a $*(%&#ing PhD, so get your spandex on, get back on your $5,000 road bike, back up some traffic, and think about who you're calling "idiot." (and learn to take a joke without resorting to name calling)
I'm predicting it will go until the next financing round is announced. So maybe mid-January? I'm sure Lewis is working on it already.
I added at $0.80. I keep saying I'm done buying but when I look at the price of CRMD compared to everything else, how can I not buy more? I think our patience/stubbornness will be rewarded eventually.
mainlylobster is a bitter old man who thinks he knows everything. He is old school, by the book, he can't fathom a world in which vaccines are not egg based and a clinical study could commence without 18 months of tox studies (see rtrx board)
From Mark to Mark, let me help you out here.
My sticking point would be the 10m cap which seems fair even if they sold 2-3m of product in eu for fy14.
Take a look at ANY other microcap biotech company out there and you will see what a steal this is right now. Ziopharm oncology has a cap of ~$350M with NO revenue and NO products close to approval. Ligand has a cap of $1B with about $40M in revenue this year (50X). So if CRMD sells even just $2M in product in 2014, a cap of $50M would be conservative, especially when you consider this is probably a $500M-$1B market globally with all indications.
the u.s. fda even if fast track for phase iii would put us into 2015 for some news?
US approval is probably a 2016 event but I would focus on the EU and partnering possibilities. These guys likely never make it to phase 3 data in the US...someone will buy them out.
the patent and lawsuit thing with the eu competitor - how long can this go on and what makes the cormedix product a moat if there are others that have something similar and the actual product is a compound of already existing meds?
1) Neutrolin is superior to TauroLock. It contains 1000 U/mL of heparin (which is standard) where as the TauroLock product requires the addition of extra heparin because it only contains 200-500 U/mL. 2) Once the Prosl patent is granted, as far as I'm concerned, TauroPharm has no basis on which to operate and that could give CRMD a monopoly position. 3) There is no antimicrobial catheter lock solution in the US and as far as I know, only 1 in the EU. Antibiotics can be used but then you have issues with resistance. No resistance to taurolidine seen to date. If you want to read more, check out the TauroLock website. They have a vast library of papers showing that taurolidine works.
is $3m enough to float this company and phase 3 trials?
No, they will likely need cash from partnering deals to completely phase 3
I'm sorry, the choices are extremely good, very good, and pretty good. Please select from the posts below ;-)
I agree...I'm also looking forward to the new website. A revamp was LONG overdue.
I'll be buying tomorrow. I shouldn't but I'm going to anyway. The market cap makes absolutely no sense if you compare CRMD to it's peers. No matter how you look at it, this is drastically undervalued.
Everything sounds awesome with the one exception of the paperwork issue preventing them from shipping product. It is pretty discouraging that the stock is down. I feel like Randy could state they had EPS last quarter of $17.28/share and the stock would trade down to $0.75.
Did you catch what Joachim said about why only a small number of patients are using TauroLock? It's not the price or the efficacy, it's _____.
I think a lot of people wrote this company off when the old management team completely bungled the CE Mark process and the deferiprone trial. Once people lose a lot of $$$ and throw in the towel, there is a bitterness there and it's hard to win them back. Every analyst that was following CRMD dropped them during that period. Personally, I'm glad it worked out this way because it presents us with a tremendous opportunity.
Good to have you back czar. I missed your bullishness and narrow mindedness. You need to buy more today - get that average up.
We'll get a peak tonight when they put out the 10Q. I bet the call is in the morning because Milby is in Germany working with the sales team and doesn't want to hold a late night call.