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The last trade, 3.5 mil shares on a Friday... That should lift some eye brows...
Thanks fantom, I agree with you, Dr Chan does seem to burn up a fair amount of his air time, trying to cover a wide spectrum of our filters potential in a very short period of time. I think he could be more effective if he were to skip the broad picture and focus on the questions from the commentator which were a lead into a discussion of the current fears people are having about Covid. He could explain how the filter can buy time so that the body can effectively mount a defense against the virus. Dr Chan should concentrate on what our product does, not try to talk the audience into getting vaccinated. The last 15 seconds of the air time can be used to list the other afflictions and our web site for further information. Just my opinion. Thanks for the heads up on the program.
Hello Fantom... I know you as someone with a strong opinion, but never gossip... Link to radio spot?
Thanks Vinovista... I too failed to look at the fine print. This is one of the reasons I refer to this message board. Thinking to myself, "What are they doing!", you have made it perfectly clear that they are doing what is necessary for the smooth operation of the company and ultimately our benefit.
Has me scratching my head too, J G R. Not a typical pattern, nor anything any large investor or institution would do. Funny how that activity totally disappeared today. A pack of shorts trying to soften our grip for a planned event? Don't know. Maybe someone else might have an explanation...
Hemopure, I almost mentioned how this seems to fall on good news, but today decides to rise for no reason against the market... possible news soon? Other than Andy, who consistently passes through good data, and a few others that periodically toss out a bone to the gallery, this board is losing its luster.
Will this be the quarter that finally breaks even?
Sad to see U go, were a thoughtfull poster. Share some thoughts on your favorites?
Dr. N., That is true. I too had been disappointed in the performance of Cytosorbents. Someone, a week or so ago mentioned CRMD. Thank you, whom ever you are... I looked at it but felt it was a bit rich for me but I did do some reading and kept it in mind. Three days ago with the packaging failure, I saw it plummet into the mid $6 range, so I sold 2000 Ctso at 8.80 and bought 2500 Cormedix at 6.90. In three days the cormedix has returned near 6500, allowing me to at least break even for the last three days. This is the first time in ten years that I have sold any of my position in CTSO, and if I see anymore opportunities like I did with CRMD, it won't be the last time. I think oil will be going higher, near term, RIG in my opinion is still cheap, I think it could double from here. Closed today at $4.55. News soon for Cytosorbents? I think Dr. Chan was holding off on the letter in expectation of FDA news.
Stellerz, What can we do? I suggest all of the baby boomers and Generation Xers call their millennial kids and grandkids, and spread the word, CTSO has been targeted by some very mean people and we need their help! Spread the word and run us up a couple hundred bucks, come on kids! It's for Grandma and Grandpa!
For what it's worth, Ranchhand71, why don't you try sending Dr. Chan a note asking him a reasonable question? I have, and he answered me, although it has been long enough ago that I don't remember the context. He does read, and he does answer legitimate e-mails. Just don't waste his time with something you could have easily found yourself.
With a strong finish today, I would expect this price range to hold or go moderately higher in the next few days. I think Dr. Chan is also waiting for imminent news out of FDA. If it is good news, should see a nice pop to the pps.
Mike, I will never again feel empathy for a 16 year old who has to wait for his dad's stock to ring the bell in order to sit at his new Steinway & Sons Grand! If it is a grand, not a baby grand, I was originally thinking you might have to have an addition added to the house for proper acoustics, but I realize now that the piano may very well be placed in the center of a music conservatory topped with a dome and a chandelier hovering 8-10 feet above the keyboards. If so, acoustics will be a problem. I might suggest a floating hardwood floor, area carpets, wool works excellent, underneath and around the piano. Curtains play and important role in sound control, as they can be opened and closed for differing qualities, blackout backing is rubberized for excellent deadening qualities. Subdued natural lighting, for ambiance, is also important not only for the musician, but for the comfort of the listener. Foam filled lounge chairs or couches are better than wood style furniture, the latter offer no acoustical value. Plants in the corners help subdue any megaphone bounce that might emit from the confluence of hardwood or plaster walls. Is the piano a grand or concert grand? Exciting week ahead... GLTA Longs!
Jacquescode, Yep, My primary ride is a 2006 Grand Cherokee, but I do have a 2016 Heritage, Black and Chrome, and when she rolls into the sunlight she sparkles like a diamond... As far as this stock goes, to be honest, (only option if your memory sucks), I'm sure it's not related to the short position, (only 6.8% of float or so), the fact that the share holder letter did not come out tells me that Dr. Chan may be waiting on a piece of news that would have an impact on the immediate future. What else could it be? Could be a run up to 15 and dump but too much in the wings for that, I hope!
Mike! I was thinking we could have a little Rockmononoff concert on zoom.us but if you aren't cutting lose of a few shares for the Steinway til it hits $50, well, i don't know if I can survive that long! However it could be fun to zoom a special with the two kids performing coast to coast... a couple numbers so we could showcase your son with his new Steinway... Perhaps one of his favorite pieces, then my kid could perhaps pay Mozart's Flute concerto #1 then they might duet with Rachmaninioff's: Vocalise for flute and piano! Have to keep the arrangement under 30 minutes... that's the limit on free zoom meetings. Be great to hear him play!
Brings up a reasonable question for the next CC, Fantomphan... Since we are building our filters at near capacity as earlier reported, what is our inventory looking like? Is the build out operating 2 shifts a day? Seven days a week? If not, why not, until there is an adequate inventory built up. Shelf life is 3 years, correct? Plenty of time there to fill a pallet (48"x48")stacked 5' high. Assuming a filter fits into a 3"x3"x6" box, 32 boxed filters will fit into a cubic foot box. 80 1cu ft. boxes will fit on the pallet. That is 2560 filters. Two pallets of filters would take up the space of a single sheet of plywood laid flat on the ground, 5' high. Enough to cover a 4 1/2 to 5 million dollar backlog. When the filters are 6 months old, start filling current orders with the filters on a pallet, replacing those with current production. Inventory will never be more that 6 months older than the production date. Next problem?
Fantom... I believe you said it well with your observation that you got too optimistic. Over the years, I have witnessed what I perceive as what I can only describe as a vindictiveness on the part of the FDA against those that for one reason or another have "rubbed the cats fur the wrong way". In our case, the decision was made to approach Europe first, and apply for CE mark approval. It made sense, because we simply didn't have the money to fund a trial in the style for which the FDA likes to see. The thought was we would get a foothold in those countries that accepted the CE mark and fund the FDA trials as we could afford to do so. I think some feet have been dragging because we chose a different route other than the all mighty FDA. Several things came into play. One, we are a new concept regarding the control of several medical problems and we are going it alone as a very small company presenting this to the medical world. Two, we are not a pill, we are a device. Three, the bar was set very high by FDA for the path to approval for Sepsis because they were embarrassed once before by Ely Lily and their PILL Xigris. (see; Sepsis Drug Xigris Pulled From Worldwide Market - Medscape). The FDA is very good at not getting burned twice. Four, I am sure there are several large pharmaceuticals that are watching our development and the potential effect we could have as competitors on their bottom line in related research and the influence they could have with others. Lastly, I personally take solace that there are people here much smarter than I that have a finger on what is really going on, physicians, chemists, pharmaceutical professionals, that see light at the end of the tunnel for Cytosorb, and I trust my gut feeling that we are not too far off from success. (Trust, but verify?) I've held this stock ten years, eleven actually, I believe our perseverance will reward us. GLTA...
Yes, I saw that. So I dug a little deeper to see if there was more info out there that would clarify their reasoning for the filing... partnership with manufacturer or exclusive rights granted... that's when I ran across the filing dated May 25, 2017. Since this would be way too early to renew, there must be some other reason for this filing. Perhaps we will find out in the shareholders letter, assuming there will be one.
Apparently trademark renewals are required every 10 years, so... either this was registered to correct a possible typo or error in the original application or ?? seems to be overkill to me, but what do I know... I've passed on three Millionaire makers in the last 5-6 years, opting to hold my position here! If our filter were a pill instead of a device, we would all be wealthy right now. Something is in the air, let's hope it's not a disappointment...
Could this be a Trademark renewal? I found an original filing dated May 25, 2017.
Word Mark CYTOSORB THERAPEUTIC ECMO
Goods and Services IC 010. US 026 039 044. G & S: Medical devices, namely, absorption devices and polymeric absorption materials for removing material from blood and blood fractions for use during extra corporeal membrane oxygenation
Standard Characters Claimed
Mark Drawing Code (4) STANDARD CHARACTER MARK
Serial Number 87464944
Filing Date May 25, 2017
Sorry, Mike, sometimes I get carried away with my dry humor... I too hope your gift to your son materializes soon... I also know the cost of instruments for kids that excel at their study. My daughter started with an open hole Yamaha, she now plays a Muramatsu with a Drelinger hand cut head joint. Its insured on homeowners as a named item. Best of luck!
The Steinway Piano Company
Dear Mike,
Due to the inflationary effect of the Covid stimulus checks to business and individuals, we regret to inform you that the cost of your Steinway Piano has been raised by 35%. We hope this does not cause you any undue hardship. Should you wish to finance the additional cost for your piano, we would be willing to offer you our Steinway credit card at the lowest rate we offer due to your excellent credit history of 24.99%
All our best,
Mr. Steinway
Yes, that and the overdue response from FDA... I'm sure Dr. Chan would like to integrate a positive response from the FDA into his letter to shareholders... plus a peek at the next quarters numbers.
For the chartists here, since August, I have noticed the pps has bounced between 8 and 9 dollars per share five times, building a floor at 8 dollars, each low reversing slightly higher than the prior low. The volume appears to grow at each juncture. Many of us believe this stock has been manipulated for years. I am in that camp, and if we are correct, this pattern is a further indication that we are correct. Based on this observation, and the possibility I could jinx "their" next move, I am going to predict that this stock will bottom right around $8 or slightly higher this week and make a decent move to the upside in the following weeks. Should positive news we have been anticipating be released during this next reversal to the upside, I see January pps approaching the low teens. Just my own, ever optimistic thoughts... Safe holidays, all.
If she was properly Heparinized, how was it possible to throw a clot from her femoral artery? Very sad... pregnancy must be on the list for high risk with Covid...
HadToHavit... you forgot flea bitten in there somewhere... Hopefully we will at least get a hint where this is going during the call next week. Hopefully we are on the right side of the reaction to the "Elephant in the room results".
I hope all turns out well for the both of you! I'm sure you have mentioned the filter to your physician? I asked my physician what the plan would be if I were to contract Covid being that I have several strikes against me. She looked me square in the eye and said, Chicken soup and bed! Argh!
Fantom, Dr. Chan has in the past been tight lipped about progress until a reportable event has occurred. In this case, regarding the path we will follow, it would be kind of him to give us an update as to how things stand with our company with the FDA, and what he would like to see and why. I know the FDA frowns on speculation, especially from officers involved with negotiations, however it has been 6 months, and for those of us who have been here a decade or more need to consider the risk factors of our investment due to this prolonged period of time coupled with our breakthrough designation.
I did see that Burnt... and if the post was in fact from Dr. Chiurco, we can add it to the list of pronouncements starting with Frensius when we were a supplement for their dialysis filters, and then a treatment for Sepsis, and support for transplants, then safer blood supplies, and filtration of anti-coagulants, and...and...and... its been a long wait. I hope Dr. Chan can soon, perhaps during the next quarterly conference call, announce some news that will give us a substantial rise in the pps with staying power.
Agreed Otis... I will have to go and check out StockTwits... Bertha's loss was very sad, a wonderful contributor, Techxen is a professional in this industry and has insights as an insider might see things...
Thanks, TwoNE1...
Mike, I hear your frustration at the slow pace that Cytosorbents seems to be moving through the necessary processes of the FDA. Let me reassure you, Dr. Chan is not hiding behind his desk. Perhaps you might dig a little deeper and try to make heads or tails of some of the basic questions you must have, after all, Steinway's are not cheap and you will have to do well with your stock picks to purchase your baby grand.
To be honest, Your comment, "Us long time shareholders have to sit and wait. I don’t mind paying people when they do their job but I don’t agree paying people for doing nothing", is not helpful, it is something I would expect out of a shortie, especially as often as I hear it from you. We are all looking for the "golden key", help light the path, instead of this constant grey background noise... If our filter were in fact a pill, our pps would be worth in the neighborhood of $200 per share. Perhaps you could try to shed some light on this dichotomy...
CytoSorb received FDA Breakthrough Designation to remove Ticagrelor during emergent or urgent cardiothoracic surgery, in April, 2020.
From the FDA intro to Breakthrough Devices Program:
The Breakthrough Devices Program is a voluntary program for certain medical devices and device-led combination products2 that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. It is a va ila ble for devices and device-led combination products which are subject to review under a premarket approval application (P MA), premarket notification (510(k)), or De Novo classification request(“De Novo request”). This program is intended to help patients have more timely access to these medical devices by expediting their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency’s mission3 to protect and promote public health.
Section 515B of the FD&C Act states that Breakthrough Device designation may be requested “any time prior to the submission of an application under section 515(c) [21 U.S.C 360e(c)], a notification under section 510(k) [21 U.S.C. 360(k)], or a petition for classification under section 513(f)(2) [21 U.S.C. 360c(f)(2)]. Therefore, as part of the designation request review, FDA considers whether the expected marketing application for the device is a PMA, 510(k), or De Novo request.
It has been 6 months since achieving Breakthrough Designation. So far, unless I missed it, we have not been notified whether we have received the PMA, 510k or De Novo. I can't see this detail taking longer than 30 days to decide, this is an important detail regarding the application, Thoughts? Techxen is usually on top of Cytosorbents details, yet he has been quiet now since middle of August. Anyone have word on his status?
Sport, Fresenius announced a five year plan last week that includes expansion of their base through acquisition.
A third area in the company’s plan includes expanding its network through acquisitions, partnerships and investments in early-stage startups.
Cytosorbents has been on their radar since before they became Cytosorbents. We would be expected to be on the short list for Fresenius.
Martys12, Fresenius has their own product that they sell very successfully. There is a big brother, little brother relationship between ourselves and Fresenius that goes way back to pre Cytosorbents days. They were carrying our filter because they were being "nice" to little brother, however their focus was on dialysis, their main and primary focus. Our filter probably didn't even enter the salesmans mind, even when the perfect opportunity was staring him in the face. We could do better, we knew it, so we took over the European territories that Fresenius held, but we didn't want to slap them in the face so we offered them Mexico. I assume we did that, so if they performed better there, they would be in a position to assist and perhaps even take a partnership role in future possibilities in USA, upon approval. We will see how it goes in Mexico. Just my opinion...
Thanks, Orangecat... That took some of the mystery out of it...
ya think it might have had anything to do with the largest block to change hands in the company's history at the buzzer? Had to have been some set up for that trade. $110k difference...
Could be... we're not far off from news regarding the removal of Ticagrelor, and anything positive in that regard will set a charge off underneath CTSO!
Stingman, they remind me of "wack-a-moles" and one of these days da mole will not stick his head up any longer and we will be ALL GREEN!
Read a story that came out this morning 9/13 regarding Covid-19 and a possible cause for certain peoples systems to crash. Does anyone know about these "Bradykinin's", and do they fall within the molecular size to be captured by our filter? Come on Dr. Chan... Another potential shot on goal! If we can handle this, we should be knocking at FDA's door in the morning with news release in the afternoon!
https://www.yahoo.com/news/supercomputer-found-promising-theory-why-115500793.html