Drive by hit piece with NO details! Probably taken out of context and absolutely no reference to the fact that we did have reported sales of over $4.1M on other products! Predictable from Adam Fartstein! Explains how it "hit" right when some buying was coming in ...
COLUMBIA, Md. (TheStreet) -- Osiris Therapeutics(OSIR_) CEO Randy Mills, speaking to investors on his company's first-quarter conference call Tuesday morning about Prochymal, a stem cell therapy for graft-versus-host disease:
We have made Prochymal by far -- by far -- the most widely used stem cell drug in the world. So, we regularly and constantly treat patients now on four different continents and are literally treating a patient with Prochymal anywhere around the world at any given time of the day.
Prochymal is the most widely used stem cell drug in the world? Really?
Mills has a different definition of "widely used" than most investors.
Prochymal sales since the stem cell drug was approved in Canada in May 2012 and New Zealand in June 2012: $0.
Reimbursement process in Canada: Incomplete.
Update on Prochymal confirmatory trial, which is required as part of Canadian approval: Incomplete.
Status of long-delayed plans to submit Prochymal for U.S. approval: On permanent hold.
-- Reported by Adam Feuerstein in Boston.
What really seems odd to me is all of the money being thrown at "penny stems" with no earnings. We have over 200% YOY and only improving. Diamond in the rough ... might be a long term story, but we are definitely in on the ground floor.
It wasn't good enough in $ to justify going higher for now. I'll be accumulating because if you can't see the "trend", you must be blind. Even a blind squirrel finds a nut now and then!! Year over year and q over q growth with margins above 70%? And, they're just getting started!
Patience ... the shorts know the volume is so thin that they can play - at will - until they can't! C'mon Randy, bring on the partnership news!
He didn't say to buy, he just commented on the fact that it is being squeezed, with no reports of buyback to explain why it inches higher each day!
COLUMBIA, Md.--(BUSINESS WIRE)--
Osiris Therapeutics, Inc. (OSIR), the leading stem cell company focused on developing and marketing products to treat medical conditions in inflammatory, cardiovascular, orthopedic and wound healing markets, announced today its results for the first quarter of 2013.
Highlights and Recent Developments
• Launched CartiformTM, viable cartilage mesh for the treatment of articular cartilage injury.
• Established and deployed a direct sales force for Grafix®, a premium cellular repair matrix for serious wounds including diabetic foot ulcers.
• Received title of Orphan Drug designation from European Medicines Agency (EMA) for Prochymal®.
•Defended a key patent, against an Australian opponent, covering the administration of mesenchymal stem cells for the treatment of inflammatory conditions involving the gastrointestinal tract.
• Quarterly product revenue rose to $4.1 million– representing a 38% increase over the prior quarter.
• Improved gross margin to 72% of revenue, with gross profit of $2.9M for the quarter.
• Ended the quarter with a strong cash, receivables and short-term investment position of $34.9 million.
“Our team's execution during the first quarter has given us a very strong start to 2013,” said C. Randal Mills, Ph.D., President and Chief Executive Officer of Osiris. “While we are pleased with our accomplishments, we are focused solely on the future.”
First Quarter Financial Results
Product revenues during the first quarter of 2013 were $4.1 million, compared to $1.1 million during the first quarter of 2012, an increase of 257%. Gross margin during the first quarter was 72% compared to 66% during the first quarter of 2012. Gross profit was $2.9 million during the first quarter of 2013 and $0.75 million during the same period of 2012. We reported a loss of $2.7 million in the first quarter of 2013. As of March 31, 2013, Osiris had $34.9 million in cash, receivables and short-term investments.
Research and development expenses for the first quarter of 2013 were $3.0 million, compared to $4.0 million incurred in the first quarter of 2012. Selling, general and administrative expenses were $2.9 million for the first quarter of 2013, compared to $1.5 million for the same period of the prior year, reflecting our increased commercial activity.
Yes, but this qtr, we've only been "manipulated" down to $10 ... Shorts aren't winning. Last q, we were under $7 at earnings date! We held most of the gains, and I doubt there was significant short covering. In fact, with the recent fear mongering, I would bet there's new shorts taking bets ... Let the story unfold ... Most Osirians aren't going anywhere!!
Talk about "pond #$%$" !!! Cramer is a fraud ... He knew about TSRX the first time ... sneaky!!!
That's the problem with a 90 day horizon ... Hardly tells the whole story! Know what you own, and act accordingly!!
To quote Maggie Thatcher ...
"If you have to tell people you're a lady, you probably aren't"!
Rich is clearly a perception ... sad to see how low this board has fallen!
Yes, Deep, but I bought BEXP at $10, too ... took several more years!
Patience, or are you just afraid you're getting so old, you won't be around? lol
I mean that there was definitely a need to raise some cash ... so, people were hesitant to buy in based on that. Now they have their operating capital ... and it was very well received! Win/Win!!
Yes, but overhang is gone and look what a strong response to the offering