Vericel Corp. (VCEL)

[realfast95]

VCEL's only competition was also presenting at these recent analyst shows.
Histogenics Corporation (HSGX) $1.79
NeoCart product (only product) equal to Maci.

It's interesting that they have more coverage than VCEL, when they are years from making revenue, much less profit.
This is a summary of what I gleamed from their presentation

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$5B+ U.S. revenue potential with established
reimbursement
• Seeking regulatory approval in Japan ($2B market

Completed Phase 3 trial enrollment expected Q2:17;
Data/BLA expected mid 2018 with expected approval H1:19

Intrexon partnership XON (HSGX outsourced manufacturing to them)

• ~15.9M primary shares o/s; ~41.5M fully-diluted
• Cash @ 9/30/16: $38M
• Decreasing annual operating burn
• Cash runway to middle of 2018
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The takeaway is that they will need more money. They don't have a sales force (will know more when they post the 10K this week)
Years away, perhaps 2019 before they sell retail.
They outsourced manufacturing so I don't see how they will get the margins that VCEL will get.
The analysts are probably just trying to get the stock sale business.
I am sure they are hoping Intrexon buys them out in 2019