Thanks for your insight, and reminder of the impact the sinking Euro had on bottom line. It would help if company reported unit/cartridge sales as well. Just a temporary setback - Look forward to the transcript, most of what I heard was positive growth ( albeit slow) on many fronts-
Certainly was a sucker punch, and handled by this inexperienced group as poorly as imaginable. Could have softened the blow, stretched out the bad news, accompanied/offsetting it with good news- Looks like they've known since mid-4th Qtr. they'd be seeing weaker numbers. On the flip side, the Brean/Wainwright/MLV investors we're aware of this as well, and thus brokered their discount to $8.25 in January. - Still, can't believe the panic sell-off - Certainly an indictment of management- have plenty of cash in the coffers, and next ninety days will be telling with Fresenius and unnamed partner testing the product and hopefully validating its effectiveness-
BTW- I thought Dr. Di Russo was a wonderful speaker. Smooth, concise no wasted words - Maybe he should be the voice of the company-
Bullet Point Takeaways;
* Nearly $18 million in cash
* Recently Hired Medical Director & European Scientific Director to oversee 50+ ILS studies & Registry
* Approximately one dozen ILS studies actively enrolling and data expected this year
* As many as 1,000 case study results expected to be submitted to Registry this year
* Over 100 patients already enrolled in Cologne three-arm study
* German sepsis dosing study to finish this year, data expected prior to year end
* International sales dramatically increasing
* Expanded partnership w/Biocon includes co-development studies
* Company has pared down two possible sites for new office/manufacturing plant
* Going "live" with FMC soon
* Its finally "game-on" with unnamed French partner
* The direct sales force will be brought back to full strength ( 8-10 salespeople)
* CTSO is "hot topic" in medical community and continues to garner interest and demand
* Seeking two or more meaningful strategic partnerships by year end ( slide 37 I believe)
We've been warned sales will be flat for at least 2nd qtr. So be it. And we might not see more than $5 million in total revenue this year. But there is much more to the story than sales. I've been a critic of management when I think its fair to play that role, and do take some of the above mentioned predictors with a sarcastic grain of salt. However, the potential is still enormous, don't underestimate the power of the Registry, don't discount the Aferetica relationship in Italy, I like they're still throwing money at R & D, be patient and resolute - and hopefully in 18-24 months we'll be justly rewarded for doing so-
Did you listen to the call?- He stated Q1 is going to be $700k-$750k- and the goal is for full year 2015 to outperform 2014- That migh tmean a whopping gtotal
Care to share if you've heard/read the 10-K news? Management seems incapable of holding even a small sales team together, and lifting the most modest of pilot studies off the ground.
This isn't the first instance where management has, and I'm saying this generously, been caught stretching the truth. The press releases on Feb. 2nd stated they had three 'unnamed" sites involved in the study. I smelled a rat when the IRB wasn't completed in six to eight weeks. Its only a 20 patient trial and not even a drug one at that - How hard can it be? - Chan sounded down & out on the call, and for good reason- They've underachieved greatly the past 90-120 days and forecast wasn't too sunny either- Never thought I'd say this, but torn on what to do with this stock while under steward of this management team-
The fiasco is our management team. With this crew in charge what we have in reality is:
1) Lower sales
2) Gutted sales team
3) Partnership delays
4) Ongoing clinical trial data delays
5) US trial already behind schedule
6) Painted a bleak picture for 1st half of 2015
Management is inept- You have to try real hard to be this bad. They can't even keep a sales team together for the most revoluntionary therapy to come along in years- This pathetic performance cast a completely new shadow on the future of the company- Sad-
Certainly their could be a pull back from this tremendous run-up especially if the Q-4 earnings disappoint, management is vague regarding sales with Biocon and Fresenius, short with news/updates about the myriad of clinical and investigator led studies and the IRB is not finished on the US trial. I know we're in a "quiet" period, but I was hoping they could have tipped their hand regarding the status of this trial by now. Having said all that, like others I believe larger investment groups are piling in. I know a couple of people in the fund management game and they feel the market is topped out, and scrambling to find new companies ( opportunities) for a somewhat safe gamble to take a stake in. If you believe CTSO will be $21.00 in twelve months, who wouldn't want to buy in at $14.00? That's a very healthy return on investment-
Since you dropped in from the RDUS board, one must assume your a shareholder of that stock. Their are more than few growth parallels in which to compare the companies which might help you make a prudent investment decision. RDUS dropped its IPO last June at $8.00 after scrapping an earlier May offering at $14.00 due to lack of interest. Ninety days later the stock sat at $14.75 on no news, however jumped to $24.00 in December and subsequently $36.00 in January on promising PIII interim news of the osteoporosis bone density treatment - and quickly a secondary offering was put forth at $36.00 per share- In February it touched $50.00, again mostly without any additional material event happenings- Fantastic eight month run.
CTSO hit the Nasdaq in late December at $8.00 and in ninety days has advanced in fits & starts to $12.00. Not bad, but much more news is expected in coming weeks/months that may catapult the PPS in same manner as RDUS experienced six to seven months after its IPO- Both have similar outstanding share structure- However one company has an approved product, increasing sales quarter over quarter and ever expanding global footprint- So while the non approved osteoporosis treatment/drug certainly looks promising and enticing, you have to ask yourself - do you believe CTSO will see $24.00 before RDUS sees $100.00?
No, the trials haven't started yet. Each of the three sites has its own IRB committee and this does slow things down a bit. However, we're entering week six of this process and it shouldn't take this long to approve a very small study with a medical device that has enough data/history behind it to remove any safety concerns- At this rate, it will be late into 2015 before this "pre-trial" is wrapped up- Too slow-
Thanks for sharing. I welcome the approval. Brings additional validation and awareness to the therapy, should put increasing pressure on doctors, administrators and especially providers like Fresenius and Davita to adopt and use like kind products, its approved for a very narrow scope of patients whereas we are targeting a much larger audience and might light an even bigger fire under managements rear end. ( Conversely this could hurt AEMD)
Regarding the Lixelle column; it adsorbs hydrophobic proteins with a molecular weight of 4,000 to 20,000 DA - and has also been reported to remove other biologic active substances such as IL-1, IL-6, TNF-a, endotoxins and peptidoglycans- The device certainly looks different than ours-
Yes, that's me, been invested for six years this month and posted over 200+ times, usually trying to share some thoughtful insight or carry a conversation forward. The reason I don't bother anymore is the board has morphed into a group ( for the most part) of overly sensitive, humorless hype mongers that can't handle any sort of constructive criticism of management or engage in reasonable discussion of current topics or future valuation.
If your really satisfied with the "upgraded" PR strategy, then obviously your willing to settle for mediocrity. Other than DC, I'm probably one of the few shareholders that could give a damn about the current PPS as I'll be holding at least until the large FDA trial is complete, and more than likely a few years beyond that. That being said, the company still exhibits a glaring lack of skill and courtesy to its shareholders with regards to press releases. By my count we have six live trials listed on ClinicalTrials.gov, the ongoing German sepsis trial, DARPA, Army, Air Force, NIH and other activity in progress, the often touted 40+ investigator led studies and more, and yet with all these pursuits, not a word of progress to be given. And I find it more than bewildering, almost materially deficient, that we might have been selling filters in Italy for months without notice thereof.
Howabout a detailed update on the exact number of distributors, those that are currently selling the product, those on the cusp of gaining reimbursement and so on. Shareholders shouldn't have to fumble around the web to find shipping labels & manifests to squeeze some small drip of information that could easily and appropriately be shared by management. You get my drift. I know DC doesn't care about us flys on the elephant, that became abundantly clear when we took a 25 to 1 haircut- So be it, I stay put because I believe in the product potential and no management team/policy is without review and scrutiny-
2015: Management serves up another press release
2016: DC wins George Foreman Award for "Innovative Technology"
2017: Company warns shareholders again of forthcoming "critical mass"
2018: Announce partnership with Suzanne Somers to combat insidious "wrinkle neck"
2019: Agt. Jerry & Jaxla sadly cancel home purchases for lake front property, seen in mobile homes on the Mississippi -
2024: Patents expire
How's everyone enjoying that "upgraded" PR strategy? We've been moved from " plausible ignorance" to "willful indifference" -
Not sure who wrote this press release, but it's one of the most misguided awful pieces of journalism I've seen in awhile. Amongst other mistakes, still has CTSO trading on the OTC board and contrary to what is said, Zacks most recent coverage on February 3rd was "outperform with price target of $12.50. - Terrible-
Not saying the stock won't retreat, but last time the quick drop was due to the $8.25 private offering through Brean/Wainwright on January 8th. This will be a fairer measurer of confidence and strength.
I noticed that comment as well. It certainly begs for questions and discussion.