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As i have stated over the past 7 years, since the MSBT days. The Company CANNOT GATHER STATISTICAL SIGNIFICANT DATA showing patients benefit from being on the filter in terms of (i) 28 day mortality rates; or (ii) recovery from surgery or ICU events.
Wall Street will not buy this until then. FDA approval is years away and the Company has botched trials before, which evidences their incompetence. This should be an OTCBB stock, as when they listed on the NASDAQ the outlook was much more favorable.
I am sort of surprised the price got this low, however, the Company is nothing without FDA approval so maybe the market is starting to price the risk of not obtaining approval in teh share price.
LOL... First off - nice screen name. Second - as I stated this stock is going much lower. We will see sub $4's shortly. I may buy in around $3.50 if it gets there.
A flush out is coming in the upcoming month/months. I suspect we will see sub $4.00 soon. The management team continues to lose focus and pounce from one topic to the next. The Cytosorb cartridge STILL does not have a substantial study backing it up... Here come the $3's.
FDA approval and trial results have taken way to long. I have been a follower since MSBT days in 2009. It is astonishing how slow peogress has been. By the time they get FDA approcal, if that is even going to happen, it will be a decade. The officers continue to pull in high salaries and this may not be the last round of dilution. I have a strong feeling the FDA will deny the product based on lack of data. That is why the company shifted its strategy from sepsis to cardiac surgery.
There are a lot of good points here that were made:
1.) Dr. Chan and other executives continue making $250K a year, so long as the Company has cash on its balance sheet and is operational. Dr. Chan's motive is to feed his family first, behind raising the stock price for shareholders.
2.) If the deal was oversubscribed, which is a complete joke for someone to say, then the offering price would have been closer to market prices OR above market prices, with the thought that no investor would be able to purchase 2.2mm shares without raising the price, which is a fact. The fact they could get a 2.2mm purchase done in a single block without disrupting the share price and paying a premium is enough of an incentive, if the Company was believed to be on the right track.
3.) Why wouldn't they wait for news about the trial to hit the market and then if the news was good, share prices would rise drastically, and they could do a more favorable raise then. A raise at $4.50, which is 20% or so below market price, implies the Company is out of tricks. Someone heavy is on the bid at $4.55. We will see if the underwriter uses the 15% over allotment provision and buys more shares at $4.50 or not.
I have said time in and time again, ever since selling at $12+, buying at $4-$5 and selling at $5-$6; the Company is having a difficult time obtaining the data they need to prove the product saves lives vs. the placebo. THAT IS THE REASON they moved away from Sepsis.
Does anybody remember me? I have been out of the stock for a while and posting, but have still followed the Company.
The $4.50 offering is disappointing. I am assuming the institutional market does not believe the data will be there to get FDA approval. You all have to remember that despite solid anecdotal evidence of efficiency of Cytosorb, the Company has had a tremendously difficult time collecting the positive data it needs to show statistical significant for 28 day mortality.
I may or may not buy back in. The dilution is the least of shareholder worries, as the notion that the Company is only worth $4.50, in the opinion of an institutional investor, is upsetting.
It is good sales have been increasing, but the sales figures are peanuts. If they have 100% QoQ growth that would be something else, but that is hardly the case. A few of the CEO's friends can place orders together that equate to $5mm a quarter for a large network of hospitals.
Donald Trump, who I support somewhat, has stated he looks to loosen FDA regulations, which may benefit CTSO, but that is years away IMHO.
ThoughtS?
Things are moving so slow here as they always have. I remember the good old MSBT days when people thought were were 2-3 years away from approval. Now 7 years have past, and people are still saying 2-3 years away from approval. The Company has continued to disappoint and we are sitting at a price level of around $0.16 still. What a joke. I am glad I sold at $12+ and then when I bought back in at $5.00 and weathered the storm down to $3.00 was able to sell when this was back at $5.00. The management team is horrible and they will not be able to prove the device saves lives showing statistical significance in a large scale trial.
What do you mean not true? Lol.. The Company did not mention the confidence intervals of the study. Therefore, it can be assumed they were not above 95%.
The data was not statistically significant. Therefore, it means zilch in the medical community. We need a large trial and/or increasing sales numbers.
I am disappointed with the small run-up on heavy volume. I was expecting much more. I guess the market is still laughing at the small sample sizes in all of the data CTSO CHOOSES to present.
Andy manages to post everyone unimportant piece of info except when the study data is released... haha
HERE COMES THE SHORT SQUEEZE...
Not only that, I think the market is getting anxious of the potential for Q1 2016 sales numbers that are 30% higher than Q4 2015. This might give us the valuation we were receiving when the stock ran to $15.00... If we can prove out the fundamentals will support a 20-30% QoQ growth rate in a NON-US market, that will help to effectuate a rising stock price.
We will see what happens. There are about 500,000 shares short.
Who cares? All of the stuff that is being posted is useless information.
Andy why dont you have an intellectual conversation about the stock and company instead of posting articles that are non-sense.
The entire bio-tech sector is just get CRUSHED with this sell-off. I am assuming tons of computer based trading associated with the sell-off is heating CTSO. It is not longer an OTC stock.
I am very startled by this. Dr. Chan used to run the NJ Venture Capital Fund. Now, he is pushing out promo press releases just in time for the NJ Venture Capital to disburse 1,000,000 shares to its partners. Seems like Dr. Chan is running CTSO around while the NJVC Fund is selling it down. Many times company's this small are setup as shells and they just steal retail investor money while the big boys make a killing.
Our only hope is sales or a large fund raising ABOVE the current market price (doubtful).
Buyers will come soon.
I could be wrong, but I think the bottom is almost in. A lot of the short sellers (500K shares short as of 12/15/2015) will be covering soon to close out their GREAT trades lol... I think the fall of the market, the year end selling and EAP denial all had a lot to do with the recent selloff.
I think there are a good amount of shares short as of 12/15/2015 (531K) and we will see a covering in 2016 if we get good sales numbers. I am hoping some of these hospitals will really start ordering the product in large quantities. I think a good base is building here around $4.50+ and the stock cannot go much lower. All IMHO of course.
Yea - the primary reason I purchased stock this AM is because of the sales numbers. If you adjust for EUR/USD they are around $1.8 million which is up pretty significantly from $1 million the last several quarters. Hopefully we see sales around $2.0 million or in Q1 or Q2 2016. I believe that would be a good catalyst for a stock price run-up back to $6-$7. It seems that with an expanding list of countries the product is approved in and re-curring orders, they should build a nice base. We shall see...
The stock is trading at under $0.20 pre-split. I bought in this AM for that reason. I sold above $12.00 when the announcement came of flat sales last year. I think this is a little overdone and a lot of traders got out of the stock with the EAP announcement, which in turn, forced a lot of selling and end of year selling. I am content holding for now and can't see continued selling at this price since the stock is very cheap. Hopefully, CTSO will have a Q1 2016 sales announcement that shows sales are above $1.8MM and then we can rely on the "growing sales" theory to prop up the stock price. We shall see...
LOL.. or maybe because of ObamaCare he needs something from me. Like advice on were to invest his money since he isnt making it like he used to.
You must be on something from the doctor. Increasing sales? Are you serious? Sales are limping along and weak. Since when is $7MM a lot of cash for a Company about to start an FDA trial? Dilution will be at less than $4.00 a share
Is this it now? I think with over $1 million traded today that someone knew something, etc. I thought originally it could have been end of year selling, however, at this point, it looks like since the EAP notice the Company has been hit hard. Dilution is on the horizon.
Great.... one year and nearly nothing has been accomplished.
I am not long or short because I think the stock is being fairly priced right now. I would be a seller at $9.00 and a buyer at $5.00.
The Company needs EAP approval or else the stock will crater on a short term basis, which could be a buying opportunity ONLY IF IT IS ABLE TO GET FDA APPROVAL OR GENERATE HUGE SALES IN THE SHORT TERM. EAP denial in addition to the announcement of further dilution will cause this to fall dramatically.
Again, most people on this board are retail investors trying to get rich on this stock. They don't see things from an objective point of view. Instead they have dreams and hopes this will rise, as they continue to cheer and cheer like cheerleaders.
Dr. Chan hasn't been able to get the job done in 6 years. By "the job" I mean, provide data showing mortality is reduced when people use Cytosorb.
The retail investor community has all of these suspicious theories about the FDA. It is hysterical. IDK what to tell you. The market speaks for itself. They need $$$ soon and will issue stock on non-favorable terms. That is the next time this plunges. Sooner than that, we could see an EAP denial which will send the stock to $4.25.
This product has such limited USEFUL data that its amazing. The FDA might laugh this off the EAP list. We shall see. Kind of alarming the FDA sent them a notice for more information in such a short period of time.
I have many family members in the stock still to some extent. I made my money here and have moved on. I hope it does well, I just really think it won't unless we miraculously get FDA approval before the company is severely diluted with 50M shares of common stock.
Andy - maybe if you listened to my opinion a year ago you wouldn't be holding a large bag. I got out as $12+ during the after hours call a few Q's ago. I think you are too caught up in the propaganda you post and don't see things from a objective point of view.
This is the dumbest thing I have heard in 2015. Congratulations.
The FDA is not a conspiracy organization.
LOL - andy I can see you are still posting stuff on this board haha... how has that been going? All that anecdotal evidence really matters, huh?
The 8K the Company filed on 11/30/2015 shows that the FDA has asked them for additional data regarding their submission. Let's see what happens. The stock will plummet if they do not receive EAP approval because the market is going to price in (i) future dilution via a private stock offering and (ii) a increased timeline towards FDA approval.
SABAI - the recent movement in stock price, in my opinion, is related to short sellers covering their positions. The short interest was 1.5 million shares and it has since gone down. This creates large price movements. Hedge funds that short micro-cap stocks do this all the time. That being said, the price should have never fallen that much then either if it wasnt for the shorting in the first place.
Yes I agree with you but in hindsight why would he do such a thing if the company was going to be so successful. If it was a divorce he could give ownership of shares to his wife and keep the others 50%.
If any insider knew this was going through the roof THERE IS NO WAY ON GODS EARTH they would be selling when they are on the CUSP of FDA approval. Do you agree?
Kraus Sales
Why would this guy be selling if CTSO is on the brink of FDA approval in the next 1-2 years? Does anybody find this scary? This guy has insider information for the stock and the metrics surrounding treatment with Cytosorb and he is selling all of his stock? The plan he setup basically sells a fixed amount of shares at fixed periods over the course of 1+ years. That is the only way insiders can "get out" of a stock without being accused of selling/buying based on their non public information.
Does this bother anyone? I would think anyone would be holding if they worked for the company and things were expected to go well.
It is my honest opinion that I feel the company is having extreme difficulty proving that the reduction in cytokines equates to the patient surviving or reducing their days in the ICU on a statistical significant level. I have been around for 5-6 years and it has been the same story since 8/19/2010. There isn't overwhelming data yet that draws the conclusion that mortality is reduced through the use of this device on a statistical significant level.
Yes it will - IMHO short sellers are buying this and selling this and controlling the PPS. The real resistance is at $8.18 and then its back into the teens. We shall see. I am more apt to buy in above $8.18 then at this level. This is a short squeeze IMHO. The Q2 report had nothing significant.
EAP approval is not the end game. After EAP approval they will still have to demonstrated 28 day all cause mortality benefit. That is going to be nearly impossible.
The thing that is going on now is there are 1.2 million shares short and that is a lot considering the average daily volume. We could see a short squeeze (or we are seeing one). I do not think the conference call was anything to "purchase" the stock for. Dilution is inevitable and sales are still stagnant QoQ for a new product that is entering more and more territories each month.
The fact of the matter is that they are a while away from an expensive PMA trial. It could take years and that would be 2+ additional rounds of dilution. I think the short sellers know that, and for that reason, they are comfortable shoring the stock and having an excessive position. If this runs past $8.30 I think it is the real deal in the near term and it will move higher. Hasn't spiked above then since that bad Q4 2014 conference call.
I am still sitting on the sideline. I would be happy to buy back in at $12+ when I know the stock is moving up and the risk is less. However, at this point I believe the short covering and selling is manipulating the stock and it is too risky to get in.
Dah - you must be a child to think I believe I can drive down the price of a stock on the NASDAQ by talking onto a message board.... L.O.L
This is a nice short squeeze here. I think I was wrong about $8 vs. $6... It looks like the shorts are covering fast.
The chances of this product getting FDA approval are 50/50 IMHO. I believe the risk is not worth the reward. If the company does not get FDA approval the stock will be under $2.00 the next day. They have been in the EU markets for a while and have stopped generating expected sales growth that a new product should deliver.
That being said, if the FDA does approve this product I think we will see $15/share. Not really enough of a "pop" to entice people to buy in at the moment. I think the time has passed for this stock and the ONLY THING to revive it is FDA approval.
Before FDA approval occurs we will most certainly have further dilution at a bad price for the company/investors. We shall see.
The only justification for the price increasing is if shorts are covering (which could happen) since 1.33 million shares are outstanding. That is a LOT of shares shorting this stock.