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What's going on here? I don't sweat fluctuations but this slow bleed seems like an open wound right now? I thought I saw something positive forming last week, I guess maybe a headfake. The thing is, it is at a point I would typically buy more, just wish the company would give me a reason to do so. Are they expanding or not? Company says yes, but where is the proof? I remain bullish, but would really like some company news to reinforce that sentiment. GL.
I would take a snails pace right now. We are not opening any new sites, is that because there are merger talks going on?
I could understand the possibility of a buyout if we were moving up in price, but volume is picking up to the downside.
There is someone on stocktwits.com that is speculating EDAP may buy out PROF for Sonaleve. He has seen some moves by EDAP that indicate the possibility they are thinking about an aquisition. I think it's unlikely but possible. I'm starting to wonder what is going on that we are told about overwhelming demand for Tulsa but yet the opening of new sites is at a snails pace. Why?
We have a 350M market cap. I would love to see a take over bid at 1B and I would be first in line to sell. I'm really concerned about no news from the company on how things are going. There is definitely a problem and I'm sure we will be last know. If I remember correctly you sent them an email a while back and never received a reply. I would bet they are lowering their guidance for the second quarter and for the rest of the year.
It will be 7 weeks on Wednesday since they said 2 installations were done and they would put them on website once they started treating patients. Something not right with that.
they need a REAL BD professional in here in a hurry!!
I have to believe by market action we are going to see very ordinary numbers for Q2. I bought this stock for their Tulsa-Pro and then bought more because I liked their management even more. They have not opened up another site for two months after promising to open at least two per month over the summer months. I'm going to wait a little longer before I start selling some stock.
ouchy ouch ouch ouch today - i thought we were making some headway last week - poof!
Just watched the presentation and I agree. Never seen a presentation with an emotional real life experience testimonial from a CEO at this level. Sure, CEO's will talk about using the cars they make or the cell phones they make and so on. But an emotional testimonial about a relatively new medical procedure - new to me and very encouraging. Agree, roll out has a few question marks. Let's hope over delivery of expectations. I am a little confused by the reimbursement, but I have no expertise here. Kinda thought this would be wrapped up by now, and on an earlier call I thought they said they were using an existing code for reimbursement? If no CMC code and reimbursement until mid 2022, could be slower organic sales growth from existing machines out. Still love the company, hoping within 12 months we have more locations, more exposure, and insurance reimbursement wrapped up. Good luck to all.
Thanks for posting
That's my question too but it was not addressed. Almost 6 weeks ago they said two installations were done and once they began treating patients they would post them on their website but so far nothing. The CEO was pretty emotional about his prostate treatment so no doubt he's been distracted over the spring.
Thanks Hayfarmer, but my question is why aren't we opening more sites? I don't think we opened a new site since the last conference call after he said we will open at least two month.
In the RJ webcast today the CEO spoke about how he had to have the Tulsa Pro procedure. I've never seen something like this. Here is a link.
https://kvgo.com/rj-health/profound-medical-corp-june-2021
He is more convinced than ever this is a game changer for men and their prostate health.
Tulsa-Pro posts better safety, equal efficacy in real-world analysis of prostate cancer partial ablation
Volume is very thin, any positive news will make the stock explode to the upside
been a good june for PROF so far
The daily chart shaping up pretty nice now. Seems to have bottomed. Now we just need some results as they have promised and I wouldn't be surprised to see it make new highs in the next 6 to 12 months.
Hayfarmer, excellent post!! I also keep looking for new installation sites.
Improved Q2 revenue or some evidence of it. At the last conf call they said they had 2 more installations done and would add them to their website when they begin treating patients. That was over 3 weeks ago. They also said 1 to 2 more per month thru the summer and over 25 total by end of year based on contracts already signed. All very bullish but so far it's talk so my guess is investors waiting to see what materializes.
What's it going to take to get this share price moving north of $20.00 a share? Improving Q2 revenue's numbers?
Those under $18's should be really good to you! Don't sweat buying the absolute lows or selling at the absolute highs. I agree that $30 is realistic projection......now if we could only agree in BABYF....LOL. Good luck Janie!
my lowest buy was at 17.89 ; i did not grab any 16s - bummer; but i am loaded up for a run toward 30 again
Still holding, still long term bullish.... haven't yet pulled the trigger on more though.....I may have missed an opportunity there. GL
Agree 100%. I'm not going anywhere!
still here, nibb'd some more
I hope everyone here held on. I think we have a bottom in. Would have been easy to get shook out of this one but the future sounded bright to me on the last conf call.
Is this management trying to keep the stock price down? I have to wonder. This is not the first time there is what I consider material and bullish information in the conference call they do not put in the PR. Why? In this case the near future looks quite bright. While we have 11 installations now they apparently have more than 15 signed contracts and they expect 1 to 2 installations per month over the summer. We also have two installations already done but not on the website until they begin treating patients. Why is this all a secret only for those who listen to the conf call? The stock should be up today based on this. Combine the fact they said March sales and sales into this quarter are much better and they expect to make up the sales shortfall by year end.
It could be down on very little volume.
I agree the forward looking statements are usually more important and they were very bullish. I was really impressed on how many contracts in hand and the CPT code news. I'm surprised it's down in after hours.
Agree, but like the fact they have at least 15 contracts in hand for new locations. If memory serves me right this is the first time they have made this kind of announcement. I believe going forward they will be more transparent in regards to new contracts. It will probably be a rough next two months but I think once we get Q2 numbers things will be much clearer.
Once things calm down I will look to add at these levels. Let's see what RJ says in his next report.
Disappointed. Expected more revenue and less OS. Like the company long term, but disappointed today.
I really believe it has a lot to do with the Nasdaq market getting crushed.
it really feels like someone is taking this down - down down down on really very little volume. it s not like the toiley is flushing. we're down a buck forty on 50k shares
I'm not sure if one of their problems is with Radnet. I know we have a pandemic but the contract was signed over a year ago and we only have one site up and running. I will be interested to see if they break down numbers for each site. I know they have not done that in the past but I'm hoping someone will ask how is the Radnet site doing.
Pent up demand? It will be interesting to see if they will show continued higher than expected use of each machine like they did last quarter. I would expect there to be continued pent up demand from the lack of procedures during the worst of the pandemic.
New location open. We are up to 11 and again, no PR. I'm not sure which is the new one but I think it's Wellspan in York, PA. No PR and stock is down as it was the last time a new site opened with no PR.
I never got a reply from IR, CEO, or CFO to my email either.
Does that PROF price start with a 2 again?? Phew!!!
I bet someone knew that news was coming out and they drove the price down - yes, i am paranoid.
I come up with $US 35 target...43*.815
NEWS OUT Hell yes!!!
Let's see where we are at by the end of the day!!
May 6, 2021 07:17 AM ET (BZ Newswire) -- News
Profound Medical Corp. (NASDAQ:PROF, TSX:PRN) ("Profound" or the "Company"), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today announced the signing of a multi-site imaging center agreement for TULSA-PRO® with Akumin Inc. (TSX:AKU) ("Akumin"), a leading provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States.
Pursuant to the agreement, Profound expects to install TULSA-PRO® systems at up to 10 Akumin centers to be outfitted with diagnostic and therapeutic imaging services specifically dedicated towards men's health. All of these TULSA-PRO® systems will be placed under Profound's per procedure business model. The initial geographic focus of the relationship will be in the State of Florida, with Texas and Pennsylvania expected to follow. Based upon the success of the first 10 installations, the two companies hope to expand their relationship in the future to include additional Akumin men's health centers.
"We believe that Akumin will be a particularly strong partner for us given its strategy to become a leading full-service provider of men's health and its geographic density in Florida, one of the largest markets for prostate care in the country," commented Arun Menawat, Profound's CEO and Chairman. "With respect to timing, we currently expect the first Akumin TULSA-PRO® site to be operational in the fourth quarter of 2021."
"Akumin is introducing a new service offering with centers focused on men's health. In collaboration with urologists and using a consumer-centric approach, Akumin's goal is to redefine the delivery of prostate care through diagnostic imaging, minimally invasive treatment, and post-treatment monitoring," said Riadh Zine, President and Chief Executive Officer of Akumin. "TULSA-PRO® is a customizable and incision-free prostate disease treatment system that minimizes the impact on men's functional abilities and provides the highest quality of life after treatment. We are excited to partner with Profound to offer this revolutionary technology to our physicians and patients."
Copyright © 2021 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com
New agreement for up to 10 machines
TORONTO , May 06, 2021 (GLOBE NEWSWIRE) -- Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue, today announced the signing of a multi-site imaging center agreement for TULSA-PRO® with Akumin Inc. (NASDAQ/TSX:AKU) (“Akumin”), a leading provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States .
Pursuant to the agreement, Profound expects to install TULSA-PRO® systems at up to 10 Akumin centers to be outfitted with diagnostic and therapeutic imaging services specifically dedicated towards men’s health. All of these TULSA-PRO® systems will be placed under Profound’s per procedure business model. The initial geographic focus of the relationship will be in the State of Florida , with Texas and Pennsylvania expected to follow. Based upon the success of the first 10 installations, the two companies hope to expand their relationship in the future to include additional Akumin men’s health centers.
“We believe that Akumin will be a particularly strong partner for us given its strategy to become a leading full-service provider of men’s health and its geographic density in Florida , one of the largest markets for prostate care in the country,” commented Arun Menawat , Profound’s CEO and Chairman. “With respect to timing, we currently expect the first Akumin TULSA-PRO® site to be operational in the fourth quarter of 2021.”
“Akumin is introducing a new service offering with centers focused on men’s health. In collaboration with urologists and using a consumer-centric approach, Akumin’s goal is to redefine the delivery of prostate care through diagnostic imaging, minimally invasive treatment, and post-treatment monitoring,” said Riadh Zine , President and Chief Executive Officer of Akumin . “TULSA-PRO® is a customizable and incision-free prostate disease treatment system that minimizes the impact on men’s functional abilities and provides the highest quality of life after treatment. We are excited to partner with Profound to offer this revolutionary technology to our physicians and patients.”
About Akumin Inc.
Akumin is a leading provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States with a network of owned and/or operated imaging centers located in Florida , Texas, Pennsylvania , Delaware , Illinois , Kansas and Georgia . By combining our clinical expertise with the latest advances in technology and information systems, our centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and may reduce unnecessary invasive procedures, minimizing the cost and amount of care for patients. Our imaging procedures include MRI, CT, positron emission tomography (PET), ultrasound, diagnostic radiology (X-ray), mammography, and other interventional procedures.
About Profound Medical Corp.
Profound is a commercial-stage medical device company that develops and markets customizable, incision-free therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a technology that combines real-time MRI, robotically-driven transurethral ultrasound and closed-loop temperature feedback control. TULSA-PRO® is designed to provide customizable and predictable radiation-free ablation of a surgeon-defined prostate volume while actively protecting the urethra and rectum to help preserve the patient’s natural functional abilities. TULSA-PRO® has the potential to be a flexible technology in customizable prostate ablation, including intermediate stage cancer, localized radio-recurrent cancer, retention and hematuria palliation in locally advanced prostate cancer, and the transition zone in large volume benign prostatic hyperplasia (BPH). TULSA-PRO® is CE marked, Health Canada approved, and 510(k) cleared by the U.S. Food and Drug Administration (“FDA”).
Profound is also commercializing Sonalleve®, an innovative therapeutic platform that is CE marked for the treatment of uterine fibroids and palliative pain treatment of bone metastases. Sonalleve® has also been approved by the China National Medical Products Administration for the non-invasive treatment of uterine fibroids and has FDA approval under a Humanitarian Device Exemption for the treatment of osteoid osteoma. The Company is in the early stages of exploring additional potential treatment markets for Sonalleve® where the technology has been shown to have clinical application, such as non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy.
Sorry, It should be $32.68 US
Hayfarmer, please correct me if I'm wrong. If his target is $43C then I believe his US target will be close to $28.38. If that is correct then he actually lowered his price target. That would also explain the weakness in the stock price.
I found another source that said his target is $43C so the targets I posted earlier were $US
Thanks Hayfarmer! I thought I saw that somewhere.
Headline on Ameritrade news yesterday 5/4 is RJ maintained strong buy and raised target from $34 to $36. Does not say if $C or $US.
I thought I saw something about RJ reiterating at $36? Not sure if CN or USD and not sure if it came out today or is old news, but I did see it somewhere today and if it did come out today, may explain the uptick in an otherwise down market (Dogecoin not withstanding). Regarding I will take it. Good luck to you my friend.
Lazer, I feel your pain! Nasdaq down 322 points as I write this and we are up $0.50 so far today on decent volume. I don't want to read to much into this but nice to be in the green for a change
Good email. I too have been in Profound for a couple years. Started buying prfmf I think it was? Management is experienced and has said from the beginning it was going to be a slow/steady roll out, but your point is one I hope they address. While still (at least in my uneducated experience) a superior product, it seems their market share is being threatened but more heavily marketed procedures. Addressing the competition and their strategy to overcome will be key to positive investor sentiment. As high as I was/am on this company, this slow death by a thousand paper cuts is getting annoying. Basically, I was really excited about this company, now I am hoping they give me something on the call to reignite that excitement. Still long. Good luck to you!
Sent the following email to PROF investor relations and copied CEO and ACFO:
Steve,
I have been seeing ads on TV quite often for a new product for BPH which competes with Tulsa Pro. Here is the website for the product:
https://www.urolift.com/
I have been a stockholder for a couple years now and in my opinion Tulsa Pro is a superior solution for BPH and of course also for many prostate cancers. The ads I see are well done and proclaim the procedure is incision free. They show water dripping from a pipe and then a fire hose....I think you can get the message and it would be appealing to someone with BPH. This company is stealing our potential customers who likely don't know about Tulsa Pro and also very likely their urologist doesn't know about it either. They are going to be asking their urologist about urolift, not Tulsa Pro simply because they don't know about Tulsa Pro.
Can you bring this to the attention of management? The adoption of Tulsa Pro seems to be going slower than expected based on the number of installations however I note where it is installed the number of procedures being done exceeds expectations. This tells me the doctors and patients who know about Tulsa Pro and are using it like it and prefer it to other solutions.
I think this says loudly that Profound needs to get the word out to the public on this procedure. An ad campaign is what I am thinking. We can make the same claim that it is incision free and likely other claims. I'm guessing the urolift may eliminate or make difficult other future procedures that may need to be done on a patient because it looks like it embeds a medical device which I'm guessing is metallic although I have not researched it.
Thank you,
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