Profound Medical Corp (PROF)

[Prfmf1]

I think someone has raised their numbers after last nights conference call.

[hayfarmer]

As you can see in PR, revenue was better than last qtr. They say they have 14 sites open and not all of them are on their website. They stuck to 25 open by end of year. It seems the limiting factor is their ability to open, not contracts in hand. They continue to blame covid for some issues. The CEO gave the example that one site was delayed 6 weeks while the MRI center was unable to get a router needed for the Tulsa installation.

1.4 million of revenue was from the one time sale of capital equipment. Non analyst asked about this. In Q4 of last year 2.6 million of revenue was from the "sale of products". Not clear if these are the same or not but they are possibly transitioning from selling machines to a per use rental. Too bad no analyst asked them to clarify.

[janeyH]

same , sinning in caribbean

[Lazerking40]

Missed call and won't be able to listen for a day or two. Anything material discussed? Thanks!

[Lazerking40]

Let's hope.

[Prfmf1]

Raymond James issued a new report on 7/29/21 with a $36.00 target. He believes Q2 numbers will good. I just cancelled my sell order and hope he will be correct.

[Prfmf1]

I have owned this stock for many years. This is the first conference call I'm not looking forward too!

[hayfarmer]

Well now I'm not sure if this is a new site or not. The new site is UCLA Health but it was already previously listed as a Clinical Trial site and both have the same address.

[hayfarmer]

There is finally a new site listed on the website. Don't have time to see which one it is now but will check later.

Up to 12 sites now.

https://tulsaprocedure.com/tulsa-centers/#usasites

[Prfmf1]

I know it's only a penny, but it's nice to close in the green.

[Prfmf1]

Very close to a new 12 month low!

[janeyH]

add another shiity day

[Prfmf1]

This is just terrible!! All we do do is just bleed. I would have liked the bad news to have come out so I could have made a decision with what to do with this stock. I don't know what to expect from the conference call, even if they give an upbeat report going forward can we now believe them after what they didn't deliver on the past three months?

[hayfarmer]

Found it, TACT study design link:

https://clinicaltrials.gov/ct2/show/NCT02766543?term=TULSA&draw=2

[hayfarmer]

Thanks MST, that is good information. Do you happen to have a link to the tact2 trial design?

[mst401k]

I looked at the TACT2 trial through the link in the website. In the study design it shows active sites and there are a few that are not on website but listed as active sites. University of Chicago for example.

They have already mentioned they do not add sites to the website until some time after they are active and accepting patients.

Many bio and biotech stocks are being hammered right now.

I watched one of the investor webcast and they are expecting "buzz" in the upcoming urology conventions. Probably holding any good news for that event.

There is also the CEO risk since he came out about his own surgery with Tulsa.

I took the opportunity to add under $15.

As seen by ISRG recent results, we should expect progress since hospital are finally letting people in to do installations and more elective procedures.

Good luck all!

MST401k

[Lazerking40]

Agree pressure is needed. With nothing going on, we are forced to start speculating. PPS goes up, we speculate good things. PPS goes down, we speculate negative things. Ex. If going up in this environment, I would speculate a quiet period during a buyout or merger talks. Since its going down, I am starting to speculate that maybe more trials and long term data is needed for full market acceptance or that insurance coverage for the procedure is not progressing well. But all we know is what we know. And we don't know what we don't know. 1 good thing is I haven't seen any downgrade from RJ.....but that is not much. I hate hoping, but I am now forced to HOPE for an earning surprise either in the way of revenue or an event related disclosure. I should be buying more at these levels.....just need a reason! Still going core. GL

[Prfmf1]

I think we are at a point now where we should just wait for the conference call. I think all our questions will be answered.

[hayfarmer]

I think we should all contact investor relations and ask for an explanation. Did something happen that is a material event? Seems likely based on no openings in months when we were told 2 installations were complete on May 12th. They are required to report material events within 72 hours I believe...they can not wait for a quarterly conf call.

Hopefully that means there has not been a material event but you have to wonder.

[Prfmf1]

I understand how you feel. I just noticed you can buy the stock in after hours for less then it closed. Once again I ask what has happened to this company? Where did they go wrong? They have not opened a new site for almost 3 months while having signed contracts in hand. I don't think there will be many happy people on the conference call

[janeyH]

ucking killing me f

[Prfmf1]

How bad will the revenue numbers be? What has happened to this company?

[TripTrap]

[Prfmf1]

Financial results and conference call on 8/4/21. Based on the last few day's price movement I don't think we will like the results. At least we should find out what is holding up the new sites.

[Prfmf1]

This is pathetic!! It is more then two months since we had a new site.

[janeyH]

between PROF and CANSF i don't know which has made me puke harder

[Prfmf1]

I think we touched our trading high today, now we need to break through it.

[Prfmf1]

Is this the top of our trading range or do we go higher. So far volume is not giving an indication this will be a breakout of the recent range we have been in. Any thoughts?

[Prfmf1]

I wish I can answer your question but I have no idea why it is taking so long. It's not like they have to wait for signed contracts.

[hayfarmer]

Not unusual to see those blocks at important turning points. Hopefully you're right.

Where are all the new sites? 1 to 2 per month this summer and so far 0 in last almost 2 months since they said that.

[Prfmf1]

Big block just went through at the ask price. First time I have seen that in a long time. We may be getting close to a bottom.

[Prfmf1]

I thought about selling at least 50% of my PROF holdings over the weekend but I think we are so close to the bottom I will miss a significant move to the upside. I will say this has been very difficult to watch the bleeding in this stock.

[hayfarmer]

They just said they don't typically do that. No reason given.

[Prfmf1]

I've actually been selling covered calls on PROF and making a little money.

[Lazerking40]

Thanks for taking the initiative to ask.. Did they provide an answer or just not respond? I have never engaged their PR department myself. Would be interesting to see what their strategy actually is? Are they purposely flying under the radar? Almost no option activity along with their light volume.

[hayfarmer]

I and another owner I know have both asked them to PR when new sites are open and they refuse to do it. The more stockholders they hear from the more pressure they will feel.

[Lazerking40]

Yeah, I really don't get it. Their PR department acts like an S&P 100 company. Lots of news is not PR'd, just the really big material stuff. But Profound is a small sub $500M MC in its infancy. All news good news is material and needs PR'd and helps get eyeballs on the company. I just don't understand their inability to positively engage the public domain.

[hayfarmer]

I think you should call or email their Investor Relations department and ask why the stuff on twitter, especially this story, is not being put out as a PR too. If the company has good news there is no reason to hide it while the stock price slips.

[Prfmf1]

Thanks Janey, did you ever think of applying for the PR job with PROF? Apparently they need one!

[janeyH]

Profound Medical
@ProfoundMedical
·
Jun 21
This month, the
@BuschCenter
became the very first #prostate treatment center in the U.S. to perform the #TULSAProcedure on a patient with metastatic #prostatecancer for palliative care. To learn more about this milestone, read our blog here: http://ow.ly/2PSV50FdQ0Q


I went and looked twitter - there is a lot that has not be PR'd - a bit of a WTF in my mind

[Prfmf1]

A little better tone this morning. Let's hope it lasts.

[Lazerking40]

Well, on the bright side, I haven't seen a downgrade so maybe they have no negative news. If something fundamentally changed in RJ's mind, in theory, the analyst would downgrade. Downgrading now is kinda late to the game is it not? Basically what I am saying is that RJ has spoke with a buy recommendation. No analyst reiterates monthly and their last report wasn't too terribly long ago. Until something new comes out, the buy recommendation stands and that actually gives me some comfort in an otherwise quiet and bad technical trend.

[Prfmf1]

With the acknowledgment that you are not crazy, I'm very concerned about what's happening with the stock. What is different from when the stock was $21.00 and Raymond James was pounding the table and now that it is $16.00 and seemingly nobody wants to buy it? I want to know what information RJ knows now that we are not privy to.

[Lazerking40]

So I am not crazy? Cause I feel kind of crazy seeing things broadcast on their Twitter feed that I had no idea about.

[Prfmf1]

I just looked, and you are so correct!

[Lazerking40]

So, maybe I am just old, but I don't put much attention to social media....but I checked out Profounds Twitter for first time. IMO, they have a lot of stuff on there that is PR worthy. Sorry if this is a rehash of other posts I haven't read

https://mobile.twitter.com/ProfoundMedical

[Prfmf1]

I think this is more then a slow bleed. There have been very few buys at the ask price. I've been waiting for RJ to start banging the table to buy this stock. What does he know that we don't know? It's been two months since we opened a new site after management said we would have two a month on the last conference call.

[Lazerking40]

Could be. I agree volume is really light. Usually there is a more aggressive swing to the downside to take out stop losses if they are attempting to get retail out and cheapies for them, but anything is possible. I kinda thought it was more like the company is a little stale right now with no PR, volume is always light, and no major catalysts coming up to speak of and we are just seeing a slow decline as investors look for more exciting/higher near term gain opportunities. Regardless, we are stuck to wonder with no real info. I like that the company isn't a pump machine, BUT, we need some kind of news about what is going on. Good luck to you J!

[janeyH]

if there is a saving grace out there it is that this has all been on relatively small volume - today 2x volume has usually not been the case.

i kinda think the puppeteers just keep taking out retail stop losses and buying cheapies

[janeyH]

with you 100% Laze, they are at about the point i would back up the truck and load up, but the company has been silent. need info about roll out.