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Novadaq (NVDQ)

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Novadaq Technologies Inc.
2585 Skymark Avenue
Suite 306
Mississauga, ON L4W 4L5

Phone: 905-629-3822
Fax: 905-629-0282
Website:  http://www.novadaq.com

Novadaq Technologies Inc. develops, manufactures, and commercializes fluorescence imaging technology products and therapeutic devices for surgeons in the operating room and other clinical settings primarily in the United States and Japan. The company's proprietary imaging platform is used to visualize blood vessels, nerves, and the lymphatic system during surgical procedures. It provides SPY imaging systems, which allow surgeons to capture, review, print, and archive image sequences of blood flow in vessels and micro-vessels, tissues, and organ perfusion in real-time during the course of performing various surgical procedures; SPY-Q analysis toolkit, a post-processing software that allows surgeons to apply objective analysis tools to SPY images; and SPY Elite, which allows gastrointestinal surgeons to visualize and objectively analyze perfusion in the upper and lower gastrointestinal tract. The company also offers PINPOINT endoscopic fluorescence imaging systems that combines fluorescence imaging capabilities of SPY imaging with the HD visible light imaging capabilities of a traditional endoscopic imaging system; FireFly Systems for robotic surgery; and CO2 heart laser systems, including CO2 heart laser mobile console and CO2 heart laser disposable hand pieces for transmyocardial revascularization. Novadaq Technologies Inc. was incorporated in 2000 and is headquartered in Mississauga, Canada.


August 2012 Company Presentation

A Review of Indocyanine Green Fluorescent Imaging in Surgery


March 1, 2012 -  Nasdaq listing 

March 7, 2012 - Spy Vascular Angiograpghy Granted Medicare Approval

March 26, 2012 -Shelf Registration Prospectus

April 9, 2012 -  $35M raise  @ $5.7​5. - Over-allotment exercised 

August 2, 2012 -  Novadaq Second Quarter  2012 Financial Results

Novadaq Announces First PINPOINT Purchase Order


Novadaq aggressively pursues intellectual property protection for its innovations, products and core imaging technologies in all significant markets around the world. The company's current IP portfolio includes a total of over 100 patents including, 48 granted patents and multiple pending patent applications representing over 40 distinct patent families. Issued patents and pending applications continuously serve as a foundational platform for a wide array of future applications. In addition, strategic alliances and joint ventures with universities, research organizations and industry partners have resulted in mutually beneficial licensing agreements, opportunities and rights to valuable intellectual property.

Novadaq Aquires Flourescence Endoscopy Patents From Xillix


Intuitive Surgical  Partnership

LifeCell  Partnership

KCI  Partnership 

MAQUET Cardiovascular Partnership


Rodman & Renshaw Report

JMP Securities report

ThinkEquity target $11…
Mr. Nam predicted Novadaq's annual revenue could grow to $118.6 million in 2016 from $15.6 million in 2011, which "could represent some of the fastest potential revenue growth in the entire medical devices sector." He also suggested that Novadaq could become profitable in 2013.
"We believe our price target of $11 could be conservative" he said, adding that he "wouldn't be surprised if our target were reached in the next six to nine months."

August 2012 Company Presentation


Financial Archives

1Q 2012 Financials

Novadaq Reports Second Quarter 2012 Financial Results

2011 year end financial report

"Last year in collaboration with our partners, LifeCell™ and Intuitive Surgical®, we advanced our goal of becoming a leader in providing imaging technology for surgeons," said Dr. Arun Menawat, Novadaq's President and CEO. "In the fourth quarter, we estimate that nearly 8% of breast reconstruction surgeries performed in the U.S. involved the use of SPY Imaging, effectively tripling penetration into our lead application over the period of one year. Exiting 2011, more than 10% of mid-to-large U.S. hospitals were users of Novadaq's imaging systems."

"Looking ahead into 2012, we anticipate continued expansion of the SPY Elite and FIREFLY installed bases, increased penetration in breast reconstruction, and launches of new applications including colorectal and vascular surgeries. Novadaq also continues to progress toward a direct launch of our PINPOINT Endoscopic Fluorescence Imaging System in the second half of 2012. "

Fourth Quarter and YE2011 Corporate Highlights
• The company's main performance metric in 2011 was "system shipments". In the fourth quarter, Novadaq shipped 150 SPY and FIREFLY Systems. At December 31, 2011, the number of U.S. hospitals with installed SPY and FIREFLY Systems exceeded 300.
• Approximately 175 SPY Systems are in use for breast reconstruction surgery, our lead indication. During the fourth quarter, the average annualized run rate for each of these systems was approximately 50 procedures.
• 2,700 SPY procedure kits for open surgical applications were shipped to hospitals during the fourth quarter, representing a 128% increase over the same period in 2010, and a 21% sequential increase compared with Q3-2011. In total, 7,838 SPY procedure kits were shipped to hospitals during 2011, representing a 110% increase compared with 2010.
• In November 2011, Novadaq signed exclusive multi-year sales and marketing agreements with Kinetic Concepts, Inc. for the development and commercialization of SPY technology for wound care applications. Novadaq also expanded its agreements with LifeCell for commercialization of SPY Elite into additional applications including vascular surgery.
• The fourth quarter marked the first publication of articles describing the use of SPY during tibial bypass surgery and treatment of battlefield extremity injuries. This increases the number of SPY publications to 52, including two textbook chapters, which recommend use of SPY in breast reconstruction surgery.
• Subsequent to year-end, Novadaq named MAQUET Cardiovascular as the exclusive U.S. distributor of Novadaq's CO2 Heart Laser products.



SPY Imaging System

FireFly System

PINPOINT Endoscopic Minimally Invasive Imaging System

A multi-center clinical trial of safety and effectiveness demonstrated that
the use of Novadaq's autofluorescence imaging technology resulted in a 325%
per lesion and a 250% per patient improvement in the detection of early
stage lung cancers compared to conventional white light bronchoscopy.
Another clinical study of 151 patients showed that autofluorescence was
more sensitive than flexible video bronchoscopy (FVB). Autofluorescence
effectively identified 96% or more of lesions of moderate dysplasia,
compared to only 72% with FVB, as referenced in the ACCP guidelines.


PINPOINT July 2012 launch...

With four partnerships already in its pocket, Novadaq's next step is commercializing its PINPOINT endoscope system, which combines high-definition visible light imaging plus SPY fluorescence in a single system for minimally invasive surgery. The device, which is FDA-approved, is currently being evaluated in post-marketing studies at four hospitals for a number of clinical applications, including colorectal surgery.

PINPOINT may assist physicians performing colonoscopy by more effectively: Identifying polypoid and non-polypoid lesions in the colon; delineating cancerous margins; and confirming the presence/absence of synchronous lesions

Clinical data are expected this summer, and Novadaq hopes to launch PINPOINT with its own sales team in the third quarter of this year, initially targeting minimally invasive GI surgery. The company figures there are about 500,000 endoscopic procedures done annually that could use the PINPOINT product.

"Because PINPOINT will be a combination of capital sales and recurring revenue, we'll probably start with a sales team of five to 10 and grow the team in regional terms as revenue grows," Dr. Menawat says, pointing out that 50 to 100 sales reps will probably represent the ultimate size of the team.

Novadaq also hopes to parlay its own sales team off its four partnerships.

"That's the beauty of our strategy," he contends. "We'll know which hospitals already will have SPY technology when we launch PINPOINT. So, when we speak to minimally invasive surgeons, we'll be able to advance our arguments about PINIPOINT in the context that the hospital administration and other surgeons already are aware of the benefits of SPY. At a time when it's difficult to get new technology into a hospital, that synergy will be huge."



New cancer surgery could save lives

Reconstructive Breast Surgery - Riverview Medical Center

Surgeon Video Testimonials

CEO Arun Menewat Interview


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#57   Congrats on 95% share price increase. Stryker!!!!! crudeoil24 06/19/17 09:21:25 PM
#56   Elk Creek Partners, LLC has filed a new wiltonio 06/12/17 11:04:05 AM
#55   They report next Tues after hours Flobewan 02/22/17 02:24:41 PM
#54   Must be a great earnings report with all SchlumpyStock-Picker 02/22/17 02:01:55 PM
#53   been a while since any posted here. the LONG-JON 01/10/17 02:16:12 PM
#52   $NVDQ recent news/filings stocktrademan 12/18/15 02:48:53 PM
#51   Hey cynical, any thoughts on GNMK? I fredugsi 08/12/13 10:54:34 AM
#50   Novadaq On Track To Bring Excellent Growth To Light biocqr 08/06/13 09:45:43 AM
#49   JP Morgan adds 2.0 mil shares and owns whassup 06/10/13 05:21:38 PM
#48   Bought a slug of this stock on the fredugsi 05/17/13 12:28:18 PM
#47   institutional investors that bought recent $12.90 offering must whassup 05/17/13 11:30:21 AM
#46   shelf offering...ouch.....didn't see that one coming. whassup 05/01/13 05:29:45 PM
#45   Impressive! Thanks fredugsi 04/22/13 11:10:35 AM
#44   Novadaq Tech.: Beginnings of a Novadaq PINPOINT empire? biocqr 04/22/13 09:51:05 AM
#43   Biobum. where is cyclical trader? He fredugsi 04/20/13 04:19:57 PM
#42   Fabulous story...just like GNMK! fredugsi 04/20/13 04:17:15 PM
#41   yea baby.............. whassup 04/19/13 05:58:03 PM
#40   4 out of 20 were abnormal... Pinpoint identified biocqr 01/28/13 11:22:31 PM
#39   Firefly mentions from ISRG conf call... biocqr 01/24/13 10:02:11 AM
#38   Toronto, Ontario — January 24, 2013 – Novadaq® biocqr 01/24/13 09:38:38 AM
#37   Needham conference presentation... biocqr 01/18/13 09:40:56 AM
#36   $8.49 is the 78.6% fib retracement from the biocqr 12/05/12 10:27:11 AM
#35   They are shaking the tree hard despite all BioBum 12/05/12 09:49:47 AM
#34   Identification of anomolous biliary anatomy using near-infrared cholangiography. biocqr 12/05/12 09:27:51 AM
#33   Cantor Fitzgerald raises their ISRG tgt to $525 biocqr 12/05/12 09:17:45 AM
#32   Novadaq Announces First PINPOINT Purchase Order biocqr 12/05/12 09:01:45 AM
#31   Selling looks to be exhausted, strong support in BioBum 12/04/12 10:30:35 AM
#30   this may be why we're seeing a pop... biocqr 11/27/12 10:50:20 AM
#29   Cynical, have been dipping my toes into this BioBum 11/26/12 11:31:08 AM
#28   Taglich Brothers reiterated its Buy rating on Novadaq biocqr 11/15/12 08:21:05 AM
#27   Canaccord confident in Novadaq technology & IP biocqr 11/14/12 10:10:27 AM
#26   We're almost there, another couple of days should BioBum 11/13/12 12:38:30 PM
#25   Good entry point here to scale into NVDQ BioBum 11/09/12 01:47:53 PM
#24   Novadaq Reports Third Quarter 2012 Financial Results biocqr 11/02/12 05:42:13 PM
#23   theflyonthewall.com: Novadaq Technologies price target raised to $17 biocqr 11/01/12 10:38:49 AM
#22   Near term charts says they are overbought and biocqr 10/26/12 11:33:32 AM
#21   I will continue to stay on top of BioBum 10/26/12 10:07:46 AM
#20   Continued from GNMK board... biocqr 10/26/12 08:39:30 AM
#19   NVDQ earnings... Nov 2 biocqr 10/19/12 10:39:42 AM
#18   Novadaq Tech. initiated with a Buy at Canaccord biocqr 10/19/12 10:10:21 AM
#17   Looking/in. B'marked. PR/reposted x2. also chart & video. PoemStone 10/19/12 07:30:14 AM
#16   "game changer for surgery" biocqr 10/16/12 06:38:16 PM
#15   BioTuesdays article... Novadaq Highlights Game Changer For The OR biocqr 10/16/12 03:19:35 PM
#14   Spencer Nam, ThinkEquity, LLC (10/9/12) "We reiterate our biocqr 10/12/12 01:08:42 PM
#13   Novadaq Analyst and Investor Day Wrap-up biocqr 09/25/12 11:06:53 AM
#12   Novadaq's ThinkEquity presentation on Sept 12 can be biocqr 09/19/12 11:49:35 AM
#11   NVDQ picked by Cabot Small Cap... biocqr 09/07/12 04:18:50 PM
#10   A Review of Indocyanine Green Fluorescent Imaging in Surgery biocqr 08/16/12 11:01:17 AM
#9   Needham & Company reiterates a 'Buy' on Novadaq biocqr 08/03/12 03:10:22 PM
#8   Novadaq Reports Second Quarter 2012 Financial Results biocqr 08/03/12 10:00:09 AM