Agree second quarter revenue below zero and the third qtr will be worse. Six rigs off contract in second quarter and 10 or 11 rigs off contract in third qtr.
MP: No. We feel we’re in a position of strength given our balance sheet and the compelling clinical data we’ve generated, and that the right thing to do for the company and patients is to continue to build on the strong fundamentals we’ve established.
JN: When do you anticipate starting the first human trials with the NSS seeded with neural stem cells? Is there preclinical work that would need to be done prior to initiating a pilot study?
MP: At this time we don’t plan on moving into the clinic with the NSS seeded with neural stem cells. Rather, our approach for treating chronic spinal cord injury is an injectable soft gel-like scaffold filled with neural stem cells that we refer to as our Bioengineered Neural Trails program. This program is targeted at the enormous chronic SCI patient population and, along with the NSS, is aimed to achieve our mission to change the lives of all SCI patients.
Thrope ........... injectable soft gel-like scaffold filled with neural stem cells
One more conversion and the INSPIRE study has met its goal. nviv "MAY" or "MAY NOT" have to enroll all20 patients. The FDA would have to make that decision.
We are not yet publicly discussing pricing and, of course, pricing will be in large degree determined by the INSPIRE outcomes data and our burden of illness analyses. At this time, we and analysts who cover us have used pricing in the range of $60,000-$150,000 per NSS.
JN: Remind us of the rules for profits under HUD. I believe you are allowed to sell as many devices as necessary to treat 4,000 patients. Clearly this is a large market, but are there restrictions that limit your ability to earn a meaningful profit under HUD?
MP: Profit is allowed if the device is intended and labeled for treatment of a pediatric subpopulation. The INSPIRE study permits enrollment of the pediatric subpopulation of patients between 16 to 21 years of age, and two of our patients already meet this criterion. Therefore, we expect pediatrics would be included in the NSS label and, as such, we would be able to make a profit on the NSS.
Since February, we have had one patient enrollment per month. Even with this current run rate, we would expect to have 16 patients enrolled by the end of the year, but going forward we expect the average number of patients enrolled per month to increase over the course of the year. Since March, we’ve announced five new sites joining the INSPIRE study, and we have many more sites in the startup process, including sites in the UK and Canada. We are expanding to the UK and Canada in part because of their centralized referral patterns, where all patients with spinal cord injury are treated at one or two hospitals within a large geographic area. With all of these additional sites and new countries, our objective is to get average enrollment rates up to two patients per month and to approach full enrollment by the end of the year.
One more thing: I’ve been attending our principal investigator steering committee meetings for the past year and in my 35 years of pharma/biotech/device experience, I have never seen a group of key opinion leaders become so enthusiastic about a product in clinical development. This is clearly a reflection of the enormous unmet clinical need for SCI patients and the exciting clinical data we’ve generated to date. These leading neurosurgeons have shifted their thinking in a very big way. They are seeing the NSS as an important and entirely new approach that could significantly change how complete SCI is treated in the coming years, and they want to be part of this development process.
Moscow, Russia – February 11, 2016 – Mechel OAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports that supplies of 100-meter R65 DT-350 type rails to Russian Railways OAO have begun. Mechel OAO’s Chelyabinsk Metallurgical Plant has already shipped off the first 12,000-tonne batch to Russian Railways.
Chelyabinsk Metallurgical Plant supplies rails as part of a supplementary agreement to the 2008 strategic contract between the two companies. In 2016 supplies are due to amount to 150,000 tonnes. In particular, Russian Railways will use those rails for construction and reconstruction of North Caucasian and Kuibyshev railroads.
The rails are fully in compliance with Russian Railways’ requirements and were produced according to the certificate granted to Chelyabinsk Metallurgical Plant by Federal Railway Transport Certification Register in June 2015.
“Today prompt fulfillment of Russian Railways’ order is an absolute priority for Chelyabinsk Metallurgical Plant,” Mechel OAO’s Chief Executive Officer Oleg Korzhov noted. “The technology mastered by the plant enables it to produce rails whose qualities are on par with the best international peers and meet all needs of our country’s transport infrastructure development.”
Chelyabinsk Metallurgical Plant’s rails were produced using a unique heat treatment technology which enables the plant to produce rolls with superior wear resistance, durability and endurance limit. The plant produces rails at its universal rolling mill with a 1.1-million-tonne capacity, using the most advanced rolling, correction, processing and quality control technologies.
Capstone Asset Management Company raised its stake in Transocean LTD by 137.6% in the fourth quarter. Capstone Asset Management Company now owns 88,050 shares of the offshore drilling services provider’s stock valued at $1,090,000 after buying an additional 50,990 shares during the last quarter. Acadian Asset Management acquired a new stake in Transocean LTD during the fourth quarter valued at about $1,777,000. Finally, Chevy Chase Trust Holdings raised its stake in Transocean LTD by 0.7% in the fourth quarter. Chevy Chase Trust Holdings now owns 276,883 shares of the offshore drilling services provider’s stock valued at $3,428,000 after buying an additional 2,000 shares during the last quarter.
Transocean LTD (NYSE:RIG) saw a significant decrease in short interest during the month of April. As of April 29th, there was short interest totalling 92,818,174 shares, a decrease of 9.2% from the April 15th total of 102,262,843 shares.
"The oil market has gone from nearing storage saturation to being in deficit much earlier than we expected," Goldman Sachs (GS) analysts said in the research note.
The Wall Street firm said supply disruptions as well as stronger demand from India, China and Russia, were behind the sudden switch.
Lol, I have been saying the oil glut is NO real glut. The solution to an oil glut is low prices which leads to increase demand and then the shift of the supply/demand equation. Now we will have a deficit along with huge cancellation of capital investment these past two years which will result in a price spike in our near future. Long live the boom and bust cycle. The only problem is the cycle is much shorter with much more volatility in oil price.
With large decreases in capital budgets two years in a row the "yet to be found" and "yet to be developed" oil wedge grows which will lead to higher oil prices. In history we have never seen capital budget decreases for two consecutive years. Upward price volatility guaranteed. Exactly when it starts is the only unanswered question. Invest now and win later.
Of course, they have established their position in the first quarter of the year while they were screaming lower prices for longer. The so called glut will be gone within a year. Combine that with huge decrease in capital investment and oil prices are set to rise. All the frackers who hedged their oil at lower prices earlier this year will not realize their true profit. Long live hedging.....
All the talk about the Saudi's losing control over the oil market is just pure rubbish. History repeating....
Low oil prices did stimulate demand in 2015, and the volume growth of 1.8 mb/d was one of the highest
in the past 15 years. However, such strong growth is not expected to be repeated again this year and, in
the interests of improving energy efficiency, it is not desirable. From 2016 to 2021 we expect demand to
rise by around 1.2 million barrels per day – slightly higher than the trend seen in the past decade – and it
will cross the symbolic level of 100 mb/d in 2019 or 2020.
On the supply side, low oil prices have started to put a brake on non-OPEC producers, US light tight oil in
particular. Non-OPEC production is expected to decline by 700 000 barrels per day in 2016. This would
be its largest annual decline since 1992. Supply from other non-OPEC producers, including Russia, China, Mexico and Colombia will decrease throughout the period due to lack of new investments.
With the fall in non-OPEC production we are seeing, we can expect the market to come back to balance
in 2017. From 2018 onwards there will be stock draws, leading to a gradual increase in price levels.
Current oil market conditions should not disguise potential risks to energy security.
This is because the oil and gas industry reacted to the 2015 price collapse with a historically
unprecedented wave of investment cuts. Companies are substantially cutting upstream capital
expenditure, laying off tens of thousands of personnel, and cancelling or postponing projects.
Indeed upstream investment fell by 24% in 2015 and is set to fall by 18% in 2016. This would be the first
time upstream investment has fallen for two consecutive years since the 1980s.
The results of these cuts will be felt everywhere.
Snapchat is very ingrained in the millennial culture. Don't hold your breath on that one.
Dont' you get the game? Reverse split, issue stock, short stock, reverse split again......This rinse repeat scenario has been in place since their inception.