Heard about liquid based biopsy for years starting with a JnJ company over 10 years ago. When Matt Posard joined the company from Illumina, I took notice of Trovagene. Matt wouldn't leave for just any company. He truly believes (still does) in the technology. Liquid based biopsy is now at a level where it is truly transformative. Strap-in.
I mostly agree with stockQs. For me, Trovagene is a future play and "industry buster." My horizon is 5 years or longer. Short term, I have no idea what's going to happen. Who would have thought we would have lost 3 of our top executives in relative short order? If anyone is here to make a quick buck...good luck to you.
Anyone with doubts, just listen to the recent D-Bank Presentation. Sounds solid to me. Great entry point for folks looking for a bargain over the next 5 years.
Let's see what they can do with the additional cash burn coming from national Televised spots. Orasure started with a campaign like this and pulled back after burning through $10MM quickly. Even if EXAS burns through an additional $40MM this year, it will have been worth it if they reach their 240,000 patient goal.
JMHO: They will take their cash position down to $150MM this year and decide if it worked or not. I am skeptical on whether it works out in a crowded colon cancer screening market.
Conflict of Interest with the new CEO? It's possible. There are folks that I have worked for in the past that I would never work for again. If that is the case, Matt would be justified in leaving, however, he still left the premier spot in this emerging field of diagnostic medicine. A tough decision.
Jd: sorry my tardiness, I don't watch the boards daily. My clinical knowledge comes from reading the Package Insert Data and Studies. This is old news too. Cologuard works best on White Male populations. African American, latinos, and other minorities scored significantly lower.
biopharm199: You are right on the money...at least 2 quarters and many press releases to smooth this all out. Firing the CEO and CFO was not a knee jerk reaction of the board, but one that had obvious consequences. Posard leaving was a junior move on his part. He was still the voice of Trovagene and EVP with a plan to boot. Even without Schuh, in 2-3 years he would have been approached by several companies to take the chair. Matt is a brilliant mind, but not right for the chair just yet. With Schuh facing a lawsuit, I thought it was foolish of him to sponsor Matt for the post, since it makes him partly liable for the approach and, subsequently, Matt leaving. As to the "therapeutics" comment, let's wait and see what the lawyers decide. Today, a Therapeutic is always tied with a diagnostic tool.
I don't understand the need for $5 million when it seems this small amount will only to get them through the next 12 months. They need to partner with someone or sell early. As a disclosure, I am bullish on Liquid Biopsy in general and have no position in BIOC
Talking with my broker last night and the institutions were hoping Matt would take the reigns. Now there is the lag of uncertainty while new management gets situated. Welch is a good pick and will take a couple of quarters to prove it. Stay the course. Liquid Biopsy is still the future...can't get away from that point.
Sentiment: Strong Buy
James - I agree with you on Revenue. Put up the numbers or continue burning through cash. This is purely a trading stock. As Liquid-based biopsy becomes mainstream in the coming years, it's hard to see how this will even exist.
for Epigenetic's test: are the SN and SP numbers based on only White Males like Exas Sciences' Clinical Study? If EXAS includes minority male and all females, its numbers don't look so good either.
Could be the recently favorable report from Dana Farber on liquid biopsy. (5 days ago?) Although they didn't say the name Trovagene, they were focused on ddPCR and Lung Cancer. It doesn't take a rocket scientist to connect the dots on that one. Lots of milestones firming up, regardless of the Schuh mess.
Folks - is this old news? I found it on a search. Google: "concussiondetectionkit" It shows a DPP device and who is funding it. I apologize if I am reposting this, my age is getting to me!
Minnesota: I like Matt and think he would do a fine job as a CEO. But do you really want Matt, the architect and driver of the commercial agenda pulled away into the duties of a CEO? I don't. I would rather see a well-respected current CEO add to Matt's agenda. JMHO
I'm sure that there is a short list of candidates that the board has in mind for replacing Schuh. I recall the upswing in price over Matt Posard coming to Trovagene. A well-recognized name for CEO will do the same thing.
Hey Mo! Things are very well. Hope the same with you.
The filing is dated March 31, 2016 and it is a Prospectus for a $35MM Shelf. I thought one was filed in the past as well but not enacted under Larry Siebert. The company data in the prospectus seems to be updated.
Go to Investor Relations/SEC Filings on the Chembio WebPage
Too much conjecture here. We have to wait for the courts to uncover what happened. It's more likely that Schuh and Zaniboni became the bosses of two companies and tried to sell Trovagene a license to RScueRX products. I'd be surprised if there wasn't patent infringement yet to be declared. I would expect a meeting of the minds between both companies to prevent a lengthy and costly legal battle. Schuss and Zaniboni certainly know that they are on thin ice with the overlap.