Keynes said "when the facts change, I change. What do you do?" My analysis is based on the changing marketing conditions for CytoSorb. I've been watching these patterns develop for three years. Today docs and hospitals who use it don't want to give it up. They are increasing their uses for different medical indications. Strong, persistent reorder patterns are evident. CytoSorb is now spreading to more countries each quarter. Large research and teaching hospitals were the first to use it. Now satellite hospitals around them are also ordering, based only on professional referrals from nearby colleagues -- no marketing effort required. The product is taking on a life of its own. Fresenius and Terumo have trained their own sales forces to market the product. These two companies would never stain their reputations by selling something that wasn't fully vetted. All this data is hard to ignore, unless you don't what to see what is happening in the current quarters. My advice is to listen to the next conference call, probably coming up in November. Evaluate Q316 product revenue gains YoY and QoQ. Read the analysts comments. Look at the partnerships. Read the case histories. Read the summaries from investigator studies in EU. Look at the data generated by the cardiac surgery study with over 300 patients in Europe. Immerse yourself in what is happening with CTSO. Or, you can choose to look at one data point and make your decision. It's okay with me whatever you decide. I only respond because false impressions are being conveyed based on what I believe are very narrow viewpoints. GL
