Let's grab some of this, playing double top

Congrats on 95% share price increase. Stryker!!!!!

Elk Creek Partners, LLC has filed a new 13G, reporting 5.01% ownership in $NVDQ - https://fintel.io/so/us/nvdq and https://fintel.io/i/elk-creek-partners-llc

They report next Tues after hours

Must be a great earnings report with all this pre earnings trading.

been a while since any posted here. the news could put this back on the radar

$NVDQ recent news/filings

bullish 12.50

## source: finance.yahoo.com

Mon, 14 Dec 2015 21:01:27 GMT ~ Is Chart Industries, Inc. (GTLS) Going to Burn These Hedge Funds?


read full: http://www.insidermonkey.com/blog/is-chart-industries-inc-gtls-going-to-burn-these-hedge-funds-399739/
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Thu, 10 Dec 2015 13:59:36 GMT ~ NOVADAQ to Present at the 34th Annual J.P. Morgan Healthcare Conference

[at noodls] - Toronto, Ontario - December 10, 2015 - Novadaq Technologies Inc. ('NOVADAQ' or the 'Company') (NASDAQ:NVDQ; TSX:NDQ), the leading developer and provider of clinically relevant fluorescence imaging solutions ...

read full: http://www.noodls.com/view/60011B65977CF31CF71ABBB34EAA169CE5BA5D30
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Thu, 10 Dec 2015 13:25:00 GMT ~ NOVADAQ to Present at the 34th Annual J.P. Morgan Healthcare Conference

[GlobeNewswire] - TORONTO -- Novadaq Technologies Inc. ("NOVADAQ" or the "Company") (NASDAQ:NVDQ) , the leading developer and provider of clinically relevant fluorescence imaging solutions for use in ...

read full: http://finance.yahoo.com/news/novadaq-present-34th-annual-j-132500603.html
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Tue, 08 Dec 2015 18:12:49 GMT ~ NOVADAQ TECHNOLOGIES INC Financials


read full: http://finance.yahoo.com/q/is?s=nvdq&annual
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Wed, 02 Dec 2015 16:07:09 GMT ~ Novadaq Technologies, Inc. breached its 50 day moving average in a Bearish Manner : December 2, 2015


read full: http://www.capitalcube.com/blog/index.php/novadaq-technologies-inc-breached-its-50-day-moving-average-in-a-bearish-manner-december-2-2015/
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$NVDQ charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$NVDQ company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/NVDQ/company-info
Ticker: $NVDQ
OTC Market Place: Not Available
CIK code: not found
Company name: Novadaq Technologies, Inc.
Company website: http://www.novadaq.com
Incorporated In:

Business Description:

$NVDQ share structure

## source: otcmarkets.com

Market Value: $411,630,921 a/o Dec 17, 2015
Shares Outstanding: 32,747,090 a/o Nov 30, 2011
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

$NVDQ extra dd links

Company name: Novadaq Technologies, Inc.
Company website: http://www.novadaq.com

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=NVDQ+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=NVDQ+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=NVDQ+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/news - http://finance.yahoo.com/q/h?s=NVDQ+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/NVDQ/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=NVDQ+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/NVDQ
DTCC (dtcc.com): http://search2.dtcc.com/?q=Novadaq+Technologies%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Novadaq+Technologies%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Novadaq+Technologies%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.novadaq.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.novadaq.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.novadaq.com

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/NVDQ
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=NVDQ&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=NVDQ
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=NVDQ+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=NVDQ+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=NVDQ
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=NVDQ
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=NVDQ+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/NVDQ/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=NVDQ+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/NVDQ.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=NVDQ
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/NVDQ/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/NVDQ/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/NVDQ
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/NVDQ
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/NVDQ:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=NVDQ
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=NVDQ



$NVDQ DD Notes ~ http://www.ddnotesmaker.com/NVDQ

Hey cynical, any thoughts on GNMK? I agree with you on NVDQ...great story!

Novadaq On Track To Bring Excellent Growth To Light

http://seekingalpha.com/article/1606312-novadaq-on-track-to-bring-excellent-growth-to-light?source=email_rt_article_readmore

JP Morgan adds 2.0 mil shares and owns over 10% now

Bought a slug of this stock on the announcement of shelf. This and GNMK, 2 of my largest holdings.

institutional investors that bought recent $12.90 offering must be feeling good.....

shelf offering...ouch.....didn't see that one coming.

Impressive! Thanks

Novadaq Tech.: Beginnings of a Novadaq PINPOINT empire? Impressive PILLAR II goes up at SAGES - Feltl & Co. (12.66 -0.07)

Feltl notes NVDQ released impressive interim results from the PILLAR II study at a dinner event late last week which it attended. Two posters were presented at the SAGES conference and Novadaq held a number of booth presentations by surgeons during the conference as well. Novadaq products were prominently featured in the Intuitive Surgical (ISRG) and LifeCell booths. Conversations with company personnel imply early activity on Luna is encouraging.


Read more: http://www.briefing.com/InPlayEq/InPlay/InPlayDual.htm#ixzz2RCR186yc
Under Creative Commons License: Attribution
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Biobum. where is cyclical trader? He was always vocal on NVDQ and GNMK?

Fabulous story...just like GNMK!

yea baby..............

4 out of 20 were abnormal... Pinpoint identified the problems and they were resolved.

Researchers from Maimonides Medical Center Report on Findings in Gastroenterology

GastroenterologyNewsRx.com
By a News Reporter-Staff News Editor at Gastroenterology Week -- New research on Gastroenterology is the subject of a report. According to news originating from Brooklyn, New York, by NewsRx correspondents, research stated, "Aim Anastomotic dehiscence is a devastating complication. Inadequate blood supply is felt to be the prevailing cause."

Our news journalists obtained a quote from the research from Maimonides Medical Center, "This study describes the use of near infrared imaging to evaluate transanally anastomotic tissue perfusion following low anterior resection.Twenty patients undergoing low anterior resection for benign and malignant disease were studied. After completing the anastomosis, indocyanine green (ICG) was injected via a peripheral intravenous catheter. An endoscopic near infrared imaging system (Pinpoint, Novadaq, Canada) was then used transanally to visualize mucosal perfusion of the colon, rectum and the anastomotic staple line. All patients underwent a technically successful ICG angiogram. The angiogram was abnormal in four patients. Two of these had a protective loop ileostomy and showed no sign of anastomotic breakdown. The other two patients were found on CT scan to have a peri-anastomotic collection consistent with anastomotic leakage. Both were managed conservatively with resolution. This study confirms that transanal ICG angiography is feasible and provides imaging of mucosal and anastomotic blood flow."

According to the news editors, the research concluded: "The technique warrants further study in a larger group of patients to assess its ability to identify defects in tissue perfusion that may lead to anastomotic breakdown."

For more information on this research see: Intra-operative transanal near infrared imaging of colorectal anastomotic perfusion: a feasibility study. Colorectal Disease, 2013;15(1):91-6. (Wiley-Blackwell - www.wiley.com/; Colorectal Disease - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1463-1318)

The news correspondents report that additional information may be obtained from D.A. Sherwinter, Maimonides Medical Center, Division of Minimally Invasive Surgery, Brooklyn, New York, United States (see also Gastroenterology).

http://www.equities.com/news/headline-story?dt=2013-01-16&val=933057&cat=hcare

Firefly mentions from ISRG conf call...

In imaging, we submitted a 510(k) application to expand indications for our Firefly Fluorescence imaging system to use in biliary imaging. We believe this will have application for use in imaging in the common bile duct during Cholecystectomy, and we’ll complement the use of Single-Site.

The year-over-year increase in I&A was driven by procedure growth of approximately 25%, sales of new instrument and accessory products, including Single-Site, Vessel Sealer and Firefly and higher stocking orders associated with higher system unit sales.

Instrument and accessory revenue realized per procedure including initial stocking orders was approximately $2,050 per procedure, which is higher than the $1,980 realized in the fourth quarter of 2011, and the third quarter of 2012. The sequential year-over-year increases were driven by higher new product sales, including Vessel Sealers, Single-Site kit, and Firefly kits.

ASPs include all da Vinci models, all simulators, and Firefly when configure with the systems and exclude upgrades. Fourth quarter ASP's benefited from the favorable mix of dual console systems, Firefly enabled systems, and direct sales to Europe. ASPs will fluctuate quarter-to-quarter based on product, customer, and trade-in mix as well as foreign exchange rates on direct sales to international customers.

We sold 150 simulators during the quarter, mostly in conjunction with new system sales compared with 123 last year and 87 last quarter. We sold 32 dual console systems compared with 29 last year and 20 last quarter. 52 of our fourth quarter 2012 system sales involve trade-in comprised of 40 da Vinci S and 12 standard models. 50 of our fourth quarter 2011 sales all trade-in, and 34 of our third 2012 sales all trade-in.

Our recently launched Vessel Sealer product continues to pick up clinical momentum with most of the interest coming from colorectal, advanced general and GYN clinicians. The customer adoption for both da Vinci Simulator and Firefly continues to expand, with 115 customers purchasing a da Vinci Simulator and 88 customers purchasing Firefly systems, as part of their da Vinci purchase this quarter.

Lawrence S. Keusch – Raymond James Financial

Got it and then just two other quick ones, just relative to the 510 clearance that you guys are anticipating for Firefly in biliary, could you talk about how important that is to proceed the option of Single-Site Chole. It seems to me that obviously we can reduce kind of bile duct injuries that would be a positive with that technology. And then separately, I think last quarter you provided some feel for kind of in the U.S. what procedures grew if you were to adjust for the declines in prostatectomy. I was wondering if you can help us with that in the fourth quarter.

Gary S. Guthart

Just speaking to the first one, the 510(k) submission for Firefly biliary imaging that has just been submitted this quarter, so in terms of when we expect clearance, no end point to tell you about yet. We do think that biliary imaging in real time is interesting and meaningful for Cholecystectomy for the reason that you indicated that a common bile duct injury is a serious complication, and we think that Firefly can augment the white light imaging and be a complement to cholangiography, so that’s the intend. We‘ve just started that conversation with FDA and as it proceeds in we have something more material to share we will. With regard to the break outs on kind of the adjustments and the procedure mix, I’ll turn to Aleks.

Rick A. Wise – Stifel, Nicolaus & Co., Inc.

Okay. Japan, just again, I think you said a significant demand, with the da Vinci Si approval on hand, is this going to be an incremental driver or we’re going to see more upgrades maybe in 2013, getting help or bring that for us? Thank you.

Gary S. Guthart

I think there are really two things to say with regard to Si approval in Japan. The first one is we’re excited about the approval in large part, because it allows us to bring the Japan with follow-on clearances, a set of technologies that we think have really made a down set in the rest of the world and things like Single-Site and Firefly and thus assuming to counsel and simulate or a bunch of things that we invest on the SI system side. So we’re excited about that. I think structurally though in the longer term, the Japanese market penetration will be based by additional procedure reimbursement and so near-term it’s a great thing to get in the hands of Japanese customer. We need to continue to work on reimbursements beyond Prostatectomy and we will continue to do so.

Toronto, Ontario — January 24, 2013 – Novadaq® Technologies Inc. (“Novadaq” or the “Company”) (NASDAQ: NVDQ, TSX: NDQ,), a developer of clinically-relevant fluorescence imaging solutions for use in surgical procedures, will announce its fourth quarter and full year 2012 financial results before the market opening on Thursday, February 7, 2013.

Novadaq is pleased to invite all interested parties to participate in a conference call, on February 7 at 8:30 a.m. Eastern Time, during which the results will be discussed.
Those wishing to access the live conference call by telephone should dial 1-877-407-8031 (within Canada and the United States) or 1-201-689-8031 (international callers) several minutes prior to the beginning of the call.

A telephonic replay of the conference call will be made available until midnight on March 7, 2013 and can be accessed by dialing 1-877-660-6853 (within Canada and the United States) or 1-201-612-7415 (international callers) and entering the conference identification number 408022 when prompted. The call will also be archived for 90 days on the Company’s website at http://www.novadaq.com under the “Events” tab in the Investors section, and a replay of the call will be available for download to a portable audio player or computer, as an MP3 or podcast file, at the same location on Novadaq’s website.

Needham conference presentation...

http://wsw.com/webcast/needham55/register.aspx?conf=needham55&page=nvdq&url=http%3A//wsw.com/webcast/needham55/nvdq/

$8.49 is the 78.6% fib retracement from the $12.20 H on Oct 17. Should hold, consolidate then reverse from here. May take a week or so.

They are shaking the tree hard despite all of the great news. IMHO, this is the time to be long this name.

Identification of anomolous biliary anatomy using near-infrared cholangiography.
Sherwinter DA.
Source
Division of Minimally Invasive Surgery, Maimonides Medical Center, 4802 10th avenue, Brooklyn, NY 11219, USA. dsherwinter@maimonidesmed.org
Abstract
BACKGROUND:
Intraoperative cholangiography (IOC) is especially helpful for the detection of anomalous biliary anatomy during laparoscopic cholecystectomy. Fluorescent cholangiography using an intravenously injected fluorophore and near-infrared (NIR) imaging provides similar anatomical detail to standard radiographic cholangiography without ionizing radiation, puncture of the biliary system, or additional operative time. This video shows a laparoscopic cholecystectomy performed under NIR cholangiographic guidance and highlights its ability to identify anomalous anatomy.
METHODS:
The attached video shows a laparoscopic cholecystectomy being performed on a 28-year-old female with a history of biliary colic and ultrasonographic evidence of cholelithiasis. This patient agreed to be part of a larger randomized study looking at near-infrared cholangiography and its ability to prevent common bile duct injuries (approved by the ethics review board of our institution and registered with clinicaltrials.gov Identifier# NCT01424215). This study uses the Pinpoint system (Novadaq, Ontario, Canada) for NIR imaging (Fig. 1). The Pinpoint mates a high definition white light laparoscopic view to the NIR cholangiography, providing an uninterrupted, augmented view of the anatomy. 1 cm(3) of indocyanine green was injected intravenously prior to the procedure.
RESULTS:
As shown in the video, an anomalous duct was identified during dissection and development of the critical view of safety. Because of the possibility that this represented an aberrant right hepatic duct, the cystic duct was controlled and divided distal to the anomalous duct and the gall bladder excised from the fossa in the usual manner. The patient did well without sequelae at 1 week and 1 month follow-up.
CONCLUSION:
Anomolous ductal anatomy of the biliary tree has been reported in up to 23 % of cases.1,2 The ability of IOC to elucidate biliary anatomy and thus prevent bile duct injury has led many to espouse routine cholangiography for all laparoscopic cholecystectomies.3,4 Near-infrared cholangiography (NIRC) is easy to perform, does not add steps to the operative procedure, and produces a similar anatomic roadmap of the hepatocystic triangle to that of standard IOC. Although the clinical significance of the anomalous duct identified in this video is unknown, this video highlights the excellent detail provided by NIRC. Recommendations regarding the routine use of this new technology await the results of an ongoing randomized control study.

Cantor Fitzgerald raises their ISRG tgt to $525 from $475. The firm notes that they hosted a meeting with Intuitive management at company headquarters as part of their Bay Area bus tour, and key takeaways include: 1) Intuitive expects to add single-incision indications in 2013 and sees a significant opportunity in outpatient clinics, 2) management is not ready to call a bottom in U.S. dVP volumes but continues to believe that other procedures are ready to pick up the slack, and 3) Firefly is expected to be included in a greater percentage of units going forward.

from theflyonthewall.com

Novadaq Announces First PINPOINT Purchase Order

Toronto, Ontario - December 5, 2012 -
Novadaq® Technologies Inc. (“Novadaq” or the “Company”) (NASDAQ: NVDQ, TSX: NDQ), a developer of real-time medical imaging systems for use in the operating room, today announced that Maimonides Medical Center in Brooklyn, New York, is the first United States hospital to purchase a PINPOINT® endoscopic fluorescence imaging system. Maimonides has also purchased a set of endoscopes and signed long term contracts for service and supply of disposable kits, which are required for each PINPOINT procedure.

Over the past year, Maimonides has worked with Novadaq to develop minimally invasive surgery applications for PINPOINT, and three articles highlighting the Maimonides experience have already been published in medical journals. The first of two colorectal surgery articles, entitled: Intraoperative Transanal Near Infrared Imaging of Colorectal Anastomotic Perfusion: a Feasibility Study, was published in May in the journal Colorectal Disease. In this article, the authors reported that PINPOINT revealed colon perfusion abnormalities in four of twenty patients enrolled in the study. In accordance with the study protocol, surgeons did not adjust their operative plan based on the PINPOINT images. All 16 patients who had a normal perfusion study did not manifest any evidence of leak, while two of the four patients who had abnormal Pinpoint images subsequently went on to develop complications consistent with anastomotic leaks. In the article, Identification of Anomolous Biliary Anatomy Using Near-Infrared Cholangiography, which was published in September in the Journal of Gastrointestinal Surgery, PINPOINT assisted the surgeon by identifying an aberrant bile duct that otherwise might have been injured during a laparoscopic cholecystectomy case.

Dr. Danny A. Sherwinter, Director, Division of Minimally Invasive Surgery, Maimonides Medical Center and author of the published articles, stated, “Lack of blood flow to tissue at the anastomotic site is known to contribute to the potential for post-operative anastomotic leaks, an often extremely serious complication following colorectal surgery. Major anastomotic leaks can require a return to surgery, significantly longer hospital stays and even death.” Dr. Sherwinter added, “Until PINPOINT, there was no technology that could efficiently assist in determining the quality of tissue perfusion at the anastomosis. We purchased the PINPOINT system because, in our experience, which now includes more than 100 patients, relying on PINPOINT and responding to images that show inadequate perfusion has significantly reduced the anastomotic leak rate at Maimonides.”

Commenting on the Maimonides purchase, Arun Menawat, Ph.D., MBA, President and CEO of Novadaq said, “Now that application development is complete and the PINPOINT commercial launch is underway, the fact that the surgeons and administration at Maimonides wish to fully integrate PINPOINT into their minimally invasive surgery program validates the proposition that the use of PINPOINT contributes to reductions in postoperative complication rates and costs.”

PINPOINT combines the fluorescence imaging capabilities of Novadaq’s SPY imaging technology with the HD visible light imaging of a traditional endoscope. PINPOINT can be used as a traditional endoscope and to obtain fluorescence images either on demand or simultaneously during minimally invasive surgeries. PINPOINT is expected to provide surgeons with better visualization of blood flow to tissue and important anatomical structures during these complex minimally invasive procedures. Improved visualization and functional imaging information may result in reduced incidences of post-operative complications and lower costs of care.

Novadaq has initiated PILLAR™, Perfusion Assessment in Laparoscopic Left Anterior Resection, a North American multi-center, open label, prospective study of patients undergoing laparoscopic left sided colon resection surgery during which PINPOINT imaging is performed. The PILLAR study is intended to evaluate the clinical impact of visual perfusion assessment using PINPOINT on the outcomes of laparoscopic colon resection surgery. Dr. Sherwinter’s experience at Maimonides was integral to the development of the PILLAR study design.

Colon resection or colectomy is indicated for colon cancer, diverticulitis, and certain inflammatory and other bowel diseases and has been traditionally performed by means of a standard abdominal incision. The use of minimally invasive techniques in colorectal surgery is growing and it is estimated that today, 40% of the 300,000 annual colectomies performed in the United States are performed using minimally invasive techniques. However, small incisions restrict the surgeon’s vision and therefore can make intra-operative clinical decisions more difficult, increasing the complexity of the surgery. Perfusion to tissue can be compromised in colorectal surgery and, if undetected and not addressed at the time of surgery, can lead to serious and costly post-operative complications including anastomotic leaks.

Selling looks to be exhausted, strong support in the 8.70ish range, MACD cross is imminent. IMO NVDQ is close to leaving the station.

this may be why we're seeing a pop...

Cynical, have been dipping my toes into this one. I continue to buy the pullback in the 8s and low 9s. Novadaq is severely oversold at this stage. Watching the business execution this Q and next before I take a larger leap.

Taglich Brothers reiterated its Buy rating on Novadaq Technologies (NASDAQ: NVDQ[FREE Stock Trend Analysis]) and increased its price target from $11 to $13.25.

Taglich Brothers commented, "Reconstructive, cardiac and urological surgery markets have been penetrated to an extent that has made Novadaq cash flow positive. Novadaq aims to commercialize, on its own, the PINPOINT endoscopic imaging systems for minimally invasive surgeries. Substantial development costs for PINPOINT will continue to burn cash through next year. But fortified with $37 million in proceeds from a common stock offering, Novadaq is well prepared for expanded product development and penetration of additional large markets."

Taglich Brothers closed at $9.11 on Wednesday.

(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Read more: http://www.benzinga.com/analyst-ratings/analyst-color/12/11/3093489/update-taglich-brothers-raises-pt-to-13-25-on-novadaq-te#ixzz2CIJonVYz

Canaccord confident in Novadaq technology & IP

November 14, 2012 by leonardzehr · Leave a Comment

Responding to a recent stock slide by Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ), Canaccord Genuity says that based on its due diligence, “we strongly believe the company possesses robust, clinically relevant, proprietary technology that is secured by strong IP.”

SPY Imaging System

Analyst Jason Mills reiterated his “buy” rating and $15 price target and recommends investors “buy the weakness aggressively.” Shares of Novadaq closed at $9.11 on Tuesday, down from $11.70 on Nov. 1.

Mr. Mills said the culprits in recent weakness are “two concerns being raised by some” that suggest Novadaq’s disposable kit sales could be vulnerable to “homegrown” Iindocyanin green (ICG) usage and that Novadaq’s IP portfolio doesn’t provide sufficient barriers to entry.

FDA labeling and detailed contracts with hospitals protect Novadaq’s products and “mitigate any motive customers may have to use home-grown ICG, as hospitals would open themselves to legal action (breaking contracts) or patient liability (off-label use) for a de minimus cost savings.”

Novadaq has embedded bar codes on all of its disposable kits and a tracking database in its capital systems, neither of which it has activated, given the rare incidence of home-grown ICG use, he said. However, the company plans to activate the tracking feature by mid-2013, when it releases its next-generation technology that will incorporate a proprietary perfusion calibration device sold within the kit.

Mr. Mills said he has spoken to outside counsel and looked closely at Novadaq’s IP portfolio, which covers both apparatus (devices) and utility (procedures) for its SPY imaging technology in the operating room.

“We believe Novadaq’s patent protection is strong, noting it spans claims on software and hardware that are proprietary and critical to the creation of a superior fluorescent image that we do not believe has a peer within sight, based on our research,” he said.

“Clearly Intuitive Surgical (NASDAQ:ISRG) concurs, as we doubt arguably the most successful med-tech company on the planet would license a technology it felt was poorly protected.”

We're almost there, another couple of days should wash the sellers out nicely.

Good entry point here to scale into NVDQ @ 10.20. However, it's been overbought for sometime, so we could see another $1-$1.50 move down.

BB

Novadaq Reports Third Quarter 2012 Financial Results
Press Release: Novadaq Technologies Inc.


TORONTO, ONTARIO--(Marketwire - Nov 2, 2012) - Novadaq® Technologies Inc. ("Novadaq" or the "Company") (NDQ.TO)(NVDQ), a developer of clinically-relevant fluorescence imaging solutions for use in surgical procedures, today announced financial results for its third quarter ended September 30, 2012. Unless otherwise indicated, all dollar amounts in this press release are expressed in United States (U.S.) dollars.

Novadaq reported total third quarter 2012 revenue of $6.0 million, representing an increase of 39% as compared to third quarter of 2011. Revenue growth was driven by continued adoption of SPY Elite® and FIREFLY™ procedures and higher SPY Elite and FIREFLY system sales to end users.

Third quarter of 2012 recurring revenue for Novadaq''s SPY businesses increased by 99% year-over-year to $2.9 million, and increased 16% sequentially from $2.5 million in the second quarter of 2012.

Third quarter of 2012 operating contribution (cash contributed by operating activities before changes in working capital) was $0.1 million compared with an operating burn of $0.4 million in the third quarter of 2011. During the third quarter, working capital contributed $0.2 million, and $0.8 million was invested in fixed assets, including $0.7 million to build the SPY Elite installed base.

Net loss of $9.3 million for the third quarter of 2012 increased by $8.0 million compared with the $1.3 million net loss in third quarter 2011. Third quarter of 2012 loss per share was $0.23. Excluding the impact of a non-cash $8.0 million warrants revaluation expense in third quarter 2012, loss per share was $0.03, compared with $0.05 in third quarter 2011.
Cash and cash equivalents were $41.2 million at September 30, 2012, reflecting a decrease of $0.5 million, compared to the cash position as of June 30, 2012.

Novadaq shipped 108 imaging systems and approximately 4,600 SPY Elite and FIREFLY procedures kits during the third quarter of 2012. The combined installed base of SPY technology in the United States now exceeds 600 systems.

"We continue to see evidence that SPY technology is being embraced by surgeons across multiple specialties", commented Dr. Arun Menawat, Novadaq''s President and CEO. "Recruitment into the PILLAR™ multi-center clinical study in patients undergoing low anterior colon resection surgery using our new product, PINPOINT®, is progressing at seven participating sites."

Conference Call
Novadaq is pleased to invite all interested parties to participate in a conference call today, Friday, November 2, 2012, at 8:30 a.m. Eastern Time during which the results will be discussed.
Those wishing to access the live conference call by telephone should dial 1-877-407-8031 (within Canada and the United States) or 1-201-689-8031 (international callers) several minutes prior to the beginning of the call. A telephonic replay of the conference call will be made available until midnight on December 2, 2012 and can be accessed by dialing 1-877-660-6853 (within Canada and the United States) or 1-201-612-7415 (international callers) and entering the conference identification number 402238 when prompted.

The call will be archived for 90 days on the Company''s website at www.novadaq.com under the "Events" tab in the Investors section. In addition, a replay of the call will be available for download to a portable audio player or computer, as an MP3 or podcast file, at the same location on Novadaq''s website.

theflyonthewall.com: Novadaq Technologies price target raised to $17 from $9 at Needham
Needham increased its target on Novadaq as the firm believes it was previously underestimating the sales potential of the company's Pinpoint and Luna products. The firm maintains a Buy rating on the shares.

I will continue to stay on top of the NVDQ story. If they maintain execution for the next 2 quarters, I will take a position. Near term charts says they are overbought and due for a correction.

BB

Continued from GNMK board...

NVDQ earnings... Nov 2

TORONTO, ONTARIO -- (Marketwire) -- 10/19/12 -- Novadaq®Technologies Inc. ("Novadaq" or the "Company") (TSX:NDQ)(NASDAQ:NVDQ), a developer of real-time medical imaging systems for use in the operating room, will announce its third quarter 2012 financial results before the market opening on Friday, November 2, 2012.

Novadaq is pleased to invite all interested parties to participate in a conference call, on November 2 at 8:30 a.m. Eastern Time, during which the results will be discussed.

Those wishing to access the live conference call by telephone should dial 1-877-407-8031 (within Canada and the United States) or 1-201-689-8031 (international callers) several minutes prior to the beginning of the call. A telephonic replay of the conference call will be made available until midnight on December 2, 2012 and can be accessed by dialing 1-877-660-6853 (within Canada and the United States) or 1-201-612-7415 (international callers) and entering the conference identification number 402238 when prompted.

The call will be archived for 90 days on the Company's website at http://www.novadaq.com under the "Events" tab in the Investors section. In addition, a replay of the call will be available for download to a portable audio player or computer, as an MP3 or podcast file, at the same location on Novadaq's website.

Novadaq Tech. initiated with a Buy at Canaccord Genuity (11.46)

Novadaq Tech.: Initiation details (11.46)

As mentioned earlier Canaccord Genuity initiated NVDQ with a Buy and price target of $15 saying the co possesses a unique technology that they believe could become a standard-of-care intra-operative imaging modality across multiple open and minimally-invasive surgical applications. They think the most appropriate relative comparisons to use to value NVDQ are other high- growth med-tech companies whose technologies possess similar attributes -- i.e., established or emerging standard of care, addresses nascent growth markets, and is improving outcomes for patients.


Read more: http://www.briefing.com/InPlayEq/InPlay/InPlayDual.htm#ixzz29kaG5ta1

Looking/in. B'marked. PR/reposted x2. also chart & video.

"game changer for surgery"

“Before the start of a surgery, imagine a patient being painlessly injected with multiple imaging molecules, each of which will go to its own sweet spot, to light up nerves in one color, perfusion of blood vessels in another color and cancer cells in yet a third color,” he adds.
“This would serve as a physiologically and anatomically enriched roadmap for a surgeon, who could then provide specific treatments for all of the disease processes afflicting a patient with the added confidence of image guidance. It would be like a GPS system inside a patient, telling a surgeon where to go and where not to go. This would be a game changer for surgery.”

BioTuesdays article... Novadaq Highlights Game Changer For The OR

http://biotuesdays.com/2012/10/16/novadaq-highlights-game-changer-for-the-or/

Spencer Nam, ThinkEquity, LLC (10/9/12) "We reiterate our Buy rating and $640 price target on Intuitive Surgical Inc. ahead of the Q3/12 report on Tuesday, October 16th, after the market close; we expect Intuitive Surgical to exceed consensus revenues of $535.5M (Think: $536.8M) due to strength from systems placement. . . a check with a da Vinci key opinion leader (KOL) suggests to us that new technology upgrades are keeping the interest level on da Vinci high among surgeons and hospitals. . .we expect ~26% procedure volume growth."

Novadaq Analyst and Investor Day Wrap-up

TORONTO, ONTARIO--(Marketwire - Sep 25, 2012) - Novadaq® Technologies Inc. ("Novadaq" or the "Company") (NDQ.TO)(NVDQ), a developer of clinically-relevant fluorescence imaging solutions for use in surgical procedures, yesterday hosted its "Analyst and Investor Day" from 10 a.m. to 2 p.m. EST at the Princeton Club in New York, NY. A webcast of the event will be archived for 90 days on the Company''s website at http://www.novadaq.com under the "Events" tab in the Investors section.

The event theme was "Imaging Illuminated - A Broad Agenda", and thought leaders from multiple surgical specialties, including plastic and reconstructive, endoscopic and minimally invasive, robotic, colorectal and general surgery and wound care, came together to discuss the clinical value and expanding uses of Novadaq''s SPY fluorescence imaging technology in complex surgical procedures. The day started with an overview of Novadaq''s corporate vision, presented by President and Chief Executive Officer, Dr. Arun Menawat. Dr. Rick Mangat, Senior Vice President and General Manager, followed with a presentation describing Novadaq''s direct market entry and growth strategy for the Company''s PINPOINT® Endoscopic Fluorescence Imaging system, as well as recent developments in physician and outpatient facility reimbursement.

Following his presentation, Dr. Mangat commented, "We believe that PINPOINT will be unique in the marketplace as it is the only minimally invasive imaging system that combines the features of traditional endoscopes with highly differentiated SPY fluorescence imaging. SPY has been demonstrated to improve clinical outcomes and reduce overall patient care costs across a variety of medical specialties, and fluorescence imaging is a reimbursable procedure."

Following the management presentations, six opinion leading surgeons from some of the most highly regarded medical institutions in the United States discussed clinical experiences and discovery efforts related to the SPY Elite®, FIREFLY™ and PINPOINT systems.

Geoffrey C. Gurtner, MD, Associate Chairman of Surgery, Stanford University School of Medicine kicked-off the surgeon presentations. Dr. Gurtner first presented data on the high rates of post-operative complications (10%-52%) in breast reconstruction, a significant clinical problem when surgeons rely solely on clinical judgment. He then discussed a pilot study conducted at Stanford and reviewed key publications which show that the use of SPY imaging can reduce some complications to virtually zero. Dr. Gurtner finished by discussing the rapid adoption of SPY technology in vascular surgery and wound care at Stanford. In these applications, SPY is used by surgeons to determine the adequacy of peripheral vascular interventions such as stenting.

Michael R. Zenn, MD, Vice Chief, Plastic and Reconstructive Surgery at the Duke University Medical Center began his presentation by commenting that most complications in surgery are a result of poor blood supply. Videos and still images from surgeries Dr. Zenn has performed were used to show how SPY assisted surgeons to avoid post-operative complications by providing real time clinically relevant assessment of blood perfusion in tissues, and blood flow in vessels. The talk ended with Dr. Zenn highlighting quantification advancements which are further helping surgeons to make sound clinical decisions while in surgery.

Alessio Pigazzi, MD, PhD, from the Department of Surgery, University of California, Irvine School of Medicine, next shared his experiences using FIREFLY, the implementation of SPY imaging technology integrated into the da Vinci® surgical robot sold by Novadaq''s partner, Intuitive® Surgical. Dr. Pigazzi also began his presentation by identifying a major clinical problem, which in this case was anastomotic leaks following colorectal surgeries. Dr. Pigazzi cited numerous studies published before the advent of FIREFLY, in which the rate of post-operative leaks was approximately 10%, and among patients with leaks, the mortality rate was as high as 15%. He then described a controlled study in patients undergoing complex low anterior bowel resections conducted at UC Irvine, in which outcomes for 16 patients evaluated with FIREFLY were compared with 22 patients treated without FIREFLY. In this UCI study, the leak rate in patients treated with the use of FIREFLY was 6.25% and the reoperation rate was 0%, compared to 18.18% and 9.09% respectively without FIREFLY.

Danny A. Sherwinter, MD, Chief, Minimally Invasive and Bariatric Surgery, Maimonides Medical Center, shifted the discussion to the use of PINPOINT endoscopic fluorescence imaging and minimally invasive surgery. Continuing with the theme of post-colorectal surgery leaks, Dr. Sherwinter commented that leak rates could be as high as 30% depending on targeted surgical site and anastomotic technique. He reinforced that leaks can lead to high rates of death, in addition to prolonged hospital stay, and legal challenges. He went on to state that inadequate perfusion is the likely culprit in the majority of cases of leaks, and provided examples, selected from the 150 PINPOINT cases performed at Maimonides, supporting that evaluation of perfusion can be lifesaving.

Continuing the discussion of PINPOINT imaging in endoscopic colorectal surgery, Michael Stamos, MD, the John E. Connolly Professor and Chair, Department of Surgery, University of California, Irvine School of Medicine, and Principal Investigator of the Novadaq-sponsored PILLAR™ clinical study, reiterated the medical need for a technology that could provide assessment of tissue blood supply to the colon during colorectal surgeries. Dr. Stamos went on to describe the objectives and endpoints of the PILLAR trial which include the utility of PINPOINT to optimize the location at which to transect the colon, the impact on planned location of resection margins, and the occurrence of leaks, fever, prolonged hospital stay and other complications.

Aurora Pryor, MD, Director, Bariatric and Metabolic Weight Loss Center, Stony Brook Medicine, and Principal Investigator of the soon-to-be-initiated Novadaq-sponsored PINNACLE™ clinical study, closed the surgeon presentations with a review of the clinical need for common bile duct imaging during laparoscopic cholecystectomy, as well as a discussion of the objectives of PINNACLE. PINNACLE will take place at 4 leading centers in the United States, and will enroll up to 120 patients undergoing laparoscopic cholecystectomy. Dr. Pryor highlighted that bile duct injury during removal of the gall bladder is the most common cause of medical malpractice claims. She finished her presentation by describing the goals of PINNACLE which include demonstrating that the use of PINPOINT aids in identifying biliary anatomy during laparoscopic cholecystectomy, as well as post-surgery vascular and biliary integrity.

Dr. Menawat finished the formal presentations with a glimpse into the future of fluorescence imaging. "The future for the installed base of SPY technologies will include providing surgeons with images of targeted tissues such as nerves and tumor metastases. Novadaq recently entered into its first development agreement with a company that is developing a fluorescent agent targeted to ovarian cancer. Very quickly, Novadaq has demonstrated that our fluorescence imaging technology can be used in combination with targeted molecules to enable surgeons to clearly identify cancerous tissue during surgery. We are at the early stages of implementation, but our belief is that the benefits of SPY technologies can be very far reaching," concluded Dr. Menawat.

Novadaq's ThinkEquity presentation on Sept 12 can be viewed here...

http://www.wsw.com/webcast/tep22/nvdq/

a few notes...

The PILLAR trial for PINPOINT will be in 6-7 sites... 3 already recruiting.

LUNA is designed for perfusion assessment in wound care. KCI is in market development and a clinical trial will begin in the 4Q. LUNA will be begin commercialization in about 12 mos.

NVDQ picked by Cabot Small Cap...

Attached is your September issue of Cabot Small-Cap Confidential.

This month's stock candidate is Novadaq Technologies (NVDQ), a maker of medical imaging devices that provide real-time images during surgery.

The field is currently dominated by computed tomography (CT) and magnetic resonance imaging (MRI), but Novadaq's non-toxic and non-radioactive technology offers significant advantages over these decades-old technologies.

The market for the technology is huge: 80 million surgical procedures are performed in the U.S. each year--230 million worldwide.

Open up your issue now and read all the details on Novadaq and all my current stock recommendations.

A Review of Indocyanine Green Fluorescent Imaging in Surgery

Abstract
The purpose of this paper is to give an overview of the recent surgical intraoperational applications of indocyanine green fluorescence imaging methods, the basics of the technology, and instrumentation used. Well over 200 papers describing this technique in clinical setting are reviewed. In addition to the surgical applications, other recent medical applications of ICG are briefly examined.

1. Introduction
Fluorescence Imaging (FI) is one of the most popular imaging modes in biomedical sciences for the visualisation of cells and tissues both in vitro and in vivo [1]. The benefits of FI include high contrast, that is, signal to noise ratio (SNR): only the target, not background, is visible because separate wavelengths are used for illumination and recording (cf. Figure 4);


The principle of fluorescence imaging. The radiation from the light source is filtered by a high-pass filter, Fs, to remove the fluorescent wavelengths. The blood and ICG suspension under a tissue absorbs the excitation wavelengths and emits in fluorescent high sensitivity: extremely small concentrations can often be made visible; Gives molecular information: makes some (bio) chemistry spatially and temporally visible;great tools for research: several possible imaging modes, most of which are unique; cheap: the optical instrumentation and computing needed are quite simple;
easy to use: resembles classical staining.

Fluorescent imaging is a relatively recent imaging method and thus still developing in many ways. This is especially true for indocyanine green (ICG) imaging in its new clinical applications recently proposed in various branches of surgical medicine, although it has been used in some clinical applications routinely already for almost sixty years. Thus, ICG is well known in its established clinical applications, which greatly facilitates its introduction to new applications. From an engineering point of view, image and video processing seems to be among the main areas in which ICG imaging (ICGI) has potential for major developments, for example, for analysis of ICG fluorescence dynamics [2] (cf. Figure 2). This means, among other things, that a lot of computing development work is still needed for a broader acceptance of various emerging ICG-based medical imaging methods [3].

MORE...
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3346977/

Needham & Company reiterates a 'Buy' on Novadaq Technologies (NASDAQ: NVDQ) price target of $9.00 (from $8.00).

Analyst, Dalton Chandler, said, "NVDQ’s capital equipment sales far exceeded our estimates and we think this is a very positive indicator for future revenue
and profits. With the KCI distribution deal set to launch next year, NVDQ’s direct sale of PINPOINT, and likely additional distribution deals, we think there is potential for accelerated growth, although we haven’t modeled this. In our view NVDQ’s sales to date have barely scratched the surface of their potential."

FY12 EPS estimate lowered from (0.15) to (0.23) and FY13 from $0.15 to $0.07.

For an analyst ratings summary and ratings history on Novadaq Technologies click here. For more ratings news on Novadaq Technologies click here.

Shares of Novadaq Technologies closed at $8.00 yesterday, with a 52 week range of $5.27-$8.37.