Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks for the follow up!
I will do my best, but if someone with a bigger brain wants to chime in, please do. My opinion of what you are seeing - Different sites update at different times and there has been a lot going on with Profound Medical in Q3 and Q4 2019 that messed up a lot of sites. They did a reverse split to become NASDAQ compliant, changed symbols from PRFMF, to PRO, to PROF, and had 2 raises. While this sounds bad, it was management positioning the company for the success we are seeing now. But it has messed up alot of sites information that I assume will get corrected with their annual report in the near term. If it helps at all, my rough math has them at (prior to last raise) 11.8M shares and fully dilluted around 15.7M shares (2.8M warrants and 1M options). Add 3.4M from the last raise and you should be close.....but you may want to double check that. I am not an accountant....Just trying to help.
FIL LTD files 13G claiming ownership of 1,170,400 shares equalling over 9% ownership.
https://fintel.io/doc/sec/1628808/000031898920000041/filing.txt
This is great news! Further, the comments add additional excitement.... especially that they have been eyeing this technology for 3 years. TULSA PRO may be newer to the market, but it is not new to the professionals who utilize it. This could expand much quicker than I anticipated.
Good luck all!
This recent announcement, in my opinion, is another building block Profound's management team is making towards building the business the right way. The significant catalysts achieved and strategic moves they have made over the last 6 months have been rock solid.....even if some initial thoughts were somewhat negative (the split and the capital raise for instance). Each was made with a strategic plan. Nice to have a management team playing chess when so many are playing checkers. You are right.....they have to be able to scale the business. Probably be slow but steady until they can get reimbursements finalized. After that, I assume a significant ramp up. To date, they have given every indication that they have the right management team in place to achieve these goals. These are just my humble opinions. I am long and bullish. Good luck!
Profound Medical Retires Bank Debt Ahead of Schedule
TORONTO, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) (“Profound” or the “Company”), a commercial-stage medical device company focused on customizable, incision-free therapies which combine real-time Magnetic Resonance Imaging (“MRI”), thermal ultrasound and closed-loop temperature feedback control for the radiation-free ablation of diseased tissue, today announced that it has retired its $12.5 million in principal amount loan with Canadian Imperial Bank of Commerce (“CIBC”), maturing on July 29, 2022.
“We are pleased to have repaid the CIBC loan almost 30 months ahead of schedule, resulting in total estimated net savings of approximately $0.9 million in interest payments,” commented Aaron Davidson, CFO and Senior Vice President of Corporate Development of Profound Medical. “Now, with a balance sheet strengthened by our recently completed public financing and this extinguishment of all long-term debt, we believe that we are well positioned to scale the business going forward.”
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.
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. 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.
Forward-Looking Statements
This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, the expectations regarding its U.S. multi-center commercial agreement with RadNet; the efficacy of Profound’s technology in the treatment of prostate cancer, uterine fibroids and palliative pain treatment; Profound’s preliminary unaudited fourth quarter and full year 2019 revenues; the potential obtainment of a C-Code from CMS for TULSA-PRO®; and the success of Profound’s U.S. commercialization strategy and activities for TULSA-PRO®. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
For further information, please contact:
Stephen Kilmer
Investor Relations
skilmer@profoundmedical.com
T: 647.872.4849
Definitely fair to say PROF is out pacing today's market....
I agree the management team is a big plus. Will they eventually sell the company or build a sustainable long term business with recurring and growing profitability is to be determined. If history is any indication, they are capable of both. I can't really speculate on this particular run. I am still bullish and continue to average up....but I am not naive to the fact that everyday can't be green. Clearly they are generating some positive interest. Interesting that a company does an offering, adds about 25-30% or so to OS and it seemed to gain strength...... With Raymond James increasing the PT. I really like this company and am super bullish. Downside to be fair: They had 2 models for growth- sell equipment and charge for replacement pads and single use equipment per use or provide equipment with a per use fee along with pad/equipment replacement. They seem to be pushing more towards the latter which requires a lot of upfront capital. Hopefully this last raise gets them on solid footing for 18-24 months. Finally, I don't like to give PT as I leave that up to those that see the future better than I.....but my long term PT is higher than Raymond James. And yes, a little luck is always good with any company big or small IMO....LOL. Sorry so long winded. I wish everyone much success! Usual disclaimer:. I am long PROF and my comments are riddled with personal opinions.
Agree! Love this company - Good luck!
Looks like 90 days but there is a lot of (standard) legal language surrounding so it is worth a look.....but from what I see, it has a 90 lock in. Exhibit A from the 1/22 filing. Small section below....You may want to read the whole thing for exclusions. If I am wrong, please let me know! Good luck to all!
EXHIBIT A
FORM OF LOCK-UP AGREEMENT
__________, 2020
COWEN AND COMPANY, LLC
599 Lexington Avenue
New York, New York 10022
As Representative of the Underwriters
Re: Profound Medical Corp.
Dear Sirs and Mesdames:
This letter agreement (the “Agreement”) is being delivered to you in connection with the proposed underwriting agreement (the “Underwriting Agreement”) to be entered into by and between Profound Medical Corp., an Ontario corporation (the “Company”), and Cowen and Company, LLC (“Cowen”), as representative (the “Representative”) of a group of underwriters (collectively, the “Underwriters”) to be named therein, relating to the proposed public offering (the “Offering”) of common shares (the “Common Shares”) in the capital of the Company.
In order to induce you and the other Underwriters to enter into the Underwriting Agreement, and in light of the benefits that the Offering will confer upon the undersigned in his, her or its capacity as a shareholder and/or an executive officer or director of the Company, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with each Underwriter that, during the period beginning on the date hereof through and including the date that is the 90th day after the date of the closing of the Offering (the “Lock-Up Period”), the undersigned will not, without the prior written consent of Cowen, directly or indirectly, (i) offer, sell, assign, transfer, hypothecate, pledge, contract to sell, lend or otherwise dispose of, or announce the intention to otherwise dispose of, any Common Shares (including, without limitation, Common Shares which may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities Act”), or which may be deemed to be beneficially owned, or controlled or directed, directly or indirectly, by the undersigned within the meaning of Canadian securities laws (such shares, the “Beneficially Owned Shares”)), or any securities convertible into or exercisable or exchangeable for Common Shares, (ii) enter into any swap, hedge or similar agreement or arrangement that transfers, is designed to transfer or reasonably could be expected to transfer (whether by the undersigned or someone other than the undersigned), in whole or in part, the economic risk of ownership of the Beneficially Owned Shares or securities convertible into or exercisable or exchangeable for Common Shares, whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition, or (iii) engage in any short selling of the Common Shares or securities convertible into or exercisable or exchangeable for Common Shares (the “Prohibited Activity”). The undersigned represents and warrants that the undersigned is not, and has not caused or directed any of its affiliates to be or become, currently a party to any agreement or arrangement that is designed to or which reasonably could be expected to lead to or result in any Prohibited Activity during the Lock-Up Period.
Hey Ezzra - Agree the call was promising. They continue to execute on their clear strategy to grow the business.
What I see right now is a lot of blocking and tackling. Doesn't necessary look fantastic on a financial statement, but solid fundamentals of growing the business, laying the groundwork, and sticking to their plan will lead to a lot of points at the end of the game.
Since the begining of the year they have:
1. Released TACT study showing great clinical data.
2. Received FDA clearance for domestic sales of Tulsa PRO.
3. Completed an uplisting to NASDAQ,
4. Continued to grow internationally.
5. Sold first TULSA in Japan with first treatments starting in October.
6. Sold first TULSA unit in US
7. Continued to grow Sonalleve with 2 new purchase orders in hand with Q4 install dates. Revenue not yet recognized!
8. Continued to grow their US sales and installation team.
9. Continuing to progress through clinical trials for added data and added uses.
10. Strengthened their balance sheet with added funding. Yes, offerings suck, but they are a necessary evil and I believe they did it right.
11. Picked up additional analyst coverage led by Raymond James who all place buy rating with huge growth projections.
I see a bright future ahead. Bumps in the road - yeah probably, but I am still bullish on these guys and their proven management team. Full transparency: I am long, but that doesn't make me right! Do your own DD! Good luck everyone!
Keep in mind the below is in Canadian Currency.
Profound Medical gets news $45.00 target at Paradigm
NOVEMBER 6, 2019 BY JAYSON MACLEAN
?Paradigm Capital analyst Corey Hammill likes the long-term forecast for medical device company Profound Medical (Profound Medical Stock Quote, Chart, News TSX:PRN) and has a new target price for it.
In an update to clients on Wednesday, Hammill upped his target price for the stock, saying the company’s recurring revenue coupled with a large and still growing market in the US for its products make for a winning combination.
Mississauga-based Profound Medical is currently commercializing its novel non-invasive, image-guided therapeutic technologies which include the TULSA-PRO for the ablation of prostate tissue (with fewer side effects than the current standard of care) and the Sonalleve therapeutic platform for the treatment of uterine fibroids and palliative pain treatment of bone metastases.
Earlier in August of this year, Profound announced that it had received 510(k) clearance from the US FDA to market the TULSA-PRO. Now, the company has outlined more about the US rollout, its commercialization and pricing strategies. According to Hammill, along with the traditional capital equipment purchase and disposables model, Profound will be offering a pay-per-use option where units are provided to facilities at no upfront cost but pay a recurring fee for each procedure, in addition to costs of disposables.
Hammill says the pay-per-use approach will increase long-term revenue and valuation for PRN, saying that although pay-per-use generates lower revenue in the short term owing to the lack of upfront payment, the longer-term revenue is better. And thus, the analyst is revising his forecasts accordingly.
“PRN’s long-term value is clear, driven by the TULSA-PRO`s ability to provide effective treatment with fewer adverse-events in the treatment of prostate cancer and BPH,” writes Hammill.
“Their different payment models offer a chance for rapid uptake of this technology, and the pay-per-use model establishes a second significant source of recurring revenue alongside the revenue generated from disposable sales. While the company will operate at a loss next year while building its sales force and running clinical trials to support insurance reimbursement, the long-term and recurring revenue create a compelling investment opportunity,” he says.
Hammill is expecting fiscal 2019 revenue, EBITDA and EPS of $3.7 million, negative $17.3 million and negative $1.90 per share, respectively, and fiscal 2020 revenue, EBITDA and EPS of $8.2 million, negative $21.0 million and negative $2.20 per share, respectively.
The analyst is reasserting his “Buy” rating while increasing his target price from $40.00 to $45.00, which represented a projected 12-month return of 254 per cent at the time of publication.
Profound, which underwent a ten-for-one share consolidation on October 16, has since seen a jump in share price, rising 33 per cent over the past few weeks. The stock began trading on the Nasdaq exchange on October 29 under the ticker PROF.
“The United States is a key target market for the TULSA-PRO system, which recently received 510(k) clearance from the US Food and Drug Administration, and many of our shareholders are US-based,” said Profound’s CEO, Dr. Arun Menawat, in an October 28 press release. “As we launch TULSA-PRO in the US, we view this Nasdaq listing as a natural extension of our growth plan.”
Gotcha and good point.
I wouldn't read too much into those figures from Etrade. Too much going on with ticker and exchange changes and I don't think they are caught up yet. I think my earlier post is closer to the outstanding share count - but as always, please feel free to double check. Good luck!
Couldn't agree more with your reason to buy. If I may add, Profound Medical is not only an unknown, it is a company on the rise. Furthermore, unknowns are hard to find at this point in their progression. Unkowns are often found during phase 2 or phase 3 trials with no revenue, no analyst coverage, and a lot of questions in timing. Profound, being a Canadian company trading on the Toronto Stock exchange, and then having a dual listing as OTC kept them a relative unkown throughout the trials phase. These guys just got uplisted to NASDAQ, are at commercialization, have buy rating from analysts including Raymond James, and are still unkown. They have already sold units abroad and are beginning sales domestically. We don't have to wait for more trials for revenue. I do think there is a little more time to buy, but not much. This uplisting to NASDAQ opens the doors. I really think we can fly in 2020 and beyond. All just my opinions. Good luck everyone!
Looks like NASDAQ responded on 10/25/2019 with an approval to be listed. Letter of approval can be found here. I cannot, however, seem to locate a date yet. This is another great step in the maturation process of this company. Good luck!
https://www.sec.gov/cgi-bin/browse-edgar?company=Profound+Medical&owner=exclude&action=getcompany
I'll take any help I can get. There was a lot going on last quarter. GL
If you are referring to domestic US procedures, I would think none have been completed in Q3. We know they sold at least 1 unit, but we don't know when the equipment actually shipped, was installed, or when training was complete to begin using....so I would temper expectations for US based procedures for this call. I have assumed in my personal model (no, not an expert, just a guy trying) that we wouldn't see domestic procedure revenue until Q1 with continued growth thought 2020 and beyond as unit sales continue to ramp up. I do expect some kind of PR for the first one though.....I don't think they go into detail about the number of international procedures either to be honest with you, or at least I don't remember seeing it in their filing? Probably not what you wanted to hear, but it's not bearish at all. These guys are just starting. 2020 and 2021 should be huge growth years. Just my opinion. Good luck!
While I appreciate the confidence, I think I gotta pass on this one. I got a small brain lol! And I got a job that sometimes takes all my time for weeks or even months at a time. But there are some good folks on this board! I am sure someone will step to the plate!
I certainly hope so Janey! By my math, that would be a MC of around $415-475M.
Anyone please feel free to check my math, but after the split, and the last offering, I got outstanding shares around 11.8M and fully dilluted around 15.7M shares (2.8M warrants and 1M options). At $9.54, our MC is around $113M ($149M fully dilluted). In Q3 we should recognize revenue from a minimum of 2 sales we are aware of with Japan (revenue not recognize in Q2) and Virtuo. And we just got FDA clearance! They have 2 sales channels with Phillips/Siemens promoting the product through their channels, + our own sales team. Based on what we know (or what we think we know), the market likes the device, Profound has both an outright purchase option and a lease option to offer clients, and once procedures begin, Profound receives $4k per procedure. And this is just the Tulsa PRO. I am more of a business mind, not a biotech mind, but the capital friendly structure and the recurring revenue streams from a rather large market has me giddy it will work. And I really think this is just a starting point (almost proof of concept) for other procedures. I certainly hope I am right, and I hope the analyst are right too. One quick thing though....most analysis I have seen are speaking in $$C not $$US. So that is something to keep in mind. What I know or am at least pretty certain of is this:
1. They received FDA clearance.
2. They have cash on the books.
3. They have positive analyst coverage with Raymond James leading the way.
4. They have a management team that has done this before and is well respected.
5. Sales have already begun....first US sale less than a month after approval!
6. More trials are ongoing.
7. They are in process of moving to NASDAQ.
I am looking forward to the Q3 call and an update on their progression!
Finally, as per usual, I have to add my disclaimer :). I am bullish and hold a long position. That doesn't make me right! Please do your own DD. Good luck everyone!
Profound Medical to Release Third Quarter 2019 Financial Results on November 7 – Conference Call to Follow
TORONTO, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX:PRN; OTCQX:PRMFD) (“Profound” or the “Company”), the only company to provide customizable, incision-free therapies which combine real-time Magnetic Resonance Imaging (“MRI”), thermal ultrasound and closed-loop temperature feedback control for the radiation-free ablation of diseased tissue, will announce its third quarter 2019 financial results after market close on Thursday, November 7, 2019.
Profound management will host a conference call at 4:30 p.m. ET to review the financial results and discuss business developments in the period.
Third Quarter 2019 Results Conference Call Details:
Date: Thursday, November 7, 2019 Time:4:30 p.m. ET Live Call:1-877-407-9210 (Canada and the United States) 1-201-689-8049 (International) Replay:1-919-882-2331Replay ID:55908
The call will also be broadcast live and archived on the Company's website at www.profoundmedical.com under "Webcasts" in the Investors section.
About Profound Medical Corp.
Profound 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. We believe TULSA-PRO® is demonstrating 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 and received 510(k) clearance from the U.S. Food and Drug Administration in August 2019.
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 Food and Drug Administration for the non-invasive treatment of uterine fibroids. 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.
Forward-Looking Statements
This news release includes forward-looking statements regarding Profound and its business which may include, but are not limited to, statements with respect to the efficacy of its technology in the treatment of prostate cancer, uterine fibroids and palliative pain treatment. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
For further information, please contact:
Stephen Kilmer
Investor Relations
skilmer@profoundmedical.com
T: 647.872.4849
Mrdecember - totally agree. Still remain super bullish here. Also glad to see a few more coming to the board and, judging by posts, we got some pretty smart guys and gals showing up. Don't have much to add, just checking in. This management team has done this before with success and has been executing on a very well laid out and attainable plan to drive the business including the split which was a requirement to get listed on NASDAQ. As with any investment, there are no guarantees - so don't take my word for it.....do your research. Good luck everyone! Q3 financials/call should be coming soon so stay tuned for a company update!
From their PR from today:
"Each Unit will consist of one common share (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of two years following the closing date of the Offering and the Concurrent U.S. Private Offering at an exercise price of $1.55 per Warrant Share, subject to adjustment in certain events."
I think interest is high and they need to scale manufacturing. Remember it only took 11 days after FDA approval for Vituro Health to announce they are getting the Tulsa PRO.
No one like dillution, but I have seen worse offerings.
https://www.globenewswire.com/news-release/2019/09/13/1915444/0/en/Profound-Medical-Announces-Pricing-of-Offerings.html
Profound Medical Announces Proposed Offerings of Units
Canada NewsWire
TORONTO, Sept. 12, 2019
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, Sept. 12, 2019 /CNW/ - Profound Medical Corp. (TSX:PRN; OTCQX:PRFMF) ("Profound" or the "Company") is pleased to announce that it intends to file a prospectus supplement to its short form base shelf prospectus dated September 19, 2018 relating to a proposed marketed offering of units of the Company ("Units"), in all provinces of Canada, except Québec (the "Offering") and to offer the Units in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "Concurrent U.S. Private Offering"). Each Unit will be comprised of one common share (collectively, the "Common Shares") and one-half of one common share purchase warrant (collectively, the "Warrants") of the Company. The Offering and the Concurrent U.S. Private Offering will be priced in the context of the market with such price and the total size of the Offering and the Concurrent U.S. Private Offering to be determined at the time of entering into an underwriting agreement with respect thereto.
The Company expects to grant the underwriters for the Offering and the Concurrent U.S. Private Offering an over-allotment option to purchase up to an additional 15% of the Units to be sold pursuant to each of the Offering and the Concurrent U.S. Private Offering. The over-allotment option will be exercisable for a period of 30 days after closing.
The Offering and the Concurrent U.S. Private Offering are anticipated to be made through a syndicate of underwriters to be led by Canaccord Genuity Corp. Closing of the Offering and the Concurrent U.S. Private Offering will be subject to a number of customary conditions including, but not limited to, the listing of the Common Shares and the common shares of the Company issuable on exercise of the Warrants on the Toronto Stock Exchange and any required approvals of such exchange.
The Concurrent U.S. Private Offering is being made solely to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and Units sold in the Offering will be made solely to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the U.S. Securities Act. Neither the Common Shares nor the Warrants comprising the Units have been registered under the U.S. Securities Act or the securities laws of any U.S. state or jurisdiction. The Units may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. securities laws.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not in any circumstances constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to the registration or qualification under the applicable securities laws of any such jurisdiction.
About Profound Medical Corp.
Profound develops and markets customizable, incision-free therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a novel 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® is demonstrating 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 and received 510(k) clearance from the U.S. Food and Drug Administration in August 2019.
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 Food and Drug Administration for the non-invasive treatment of uterine fibroids. 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.
Forward-Looking Statements
This release includes forward-looking statements regarding Profound and its business which may include, but are not limited to, statements with respect to the proposed Offering and the Concurrent U.S. Private Offering and the expectations regarding the efficacy of Profound's technology in the treatment of prostate cancer, uterine fibroids and palliative pain treatment. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the potential Offering and the Concurrent U.S. Private Offering, the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
SOURCE Profound Medical Corp.
Hey Green Stream - great comments. From a profitability standpoint regarding this contract, I agree it can give us an idea. The Tulsa PRO profitability model is based on initial equipment purchase and recurring revenues.
From an equipment purchase standpoint they continually discuss it's capital friendly. This is a big deal for companies as it falls below the line to not impact NOI/EBITDA. They also have a lease structure for those companies who either prefer that model or do not have the funds available in their capital budget.
From a recurring standpoint, they state each procedure would result in $4,000 - $6,000 for replacement pads and such.
Virturo Health is a great partner and a very good sign they jumped in early. I do not think Tulsa PRO will immediately replace all HIFU procedures initially at Virturo, but I do think it slowly will due to the risk profile. Initially, I think Tulsa will be used in lieu of the "wait and see" approach to lower grade issues. As doctors become familiar with it's predictability, it will eventually replace most if not all HIFU procedures IMO.... not to mention some of the other radical and invasive methods used.
I am not a doctor or even that smart, so everyone do there own DD. But I really think this has steady growth potential in 2019 through 2020 and explosion potential in 2021.
And we are only talking about Tulsa PRO and 1 indication. I also believe their are several additional branches and market opportunities this tech could be used in.
Well, gotta get to work for the man! Good luck to you. All my opinions. I am long and strong PRFMF.
I really think this is just the tip of the iceberg. Great find indeed. Good luck all!
Sure thing WOW23P! Today's a good day..... only wish I had more. Good luck to you!
September Investor Presentation is up. A clear and concise plan to build the business.....worth a read for longs. Good luck all!
https://profoundmedical.com/investors/#presentations
Interesting read......I really liked the comments section.
https://www.inspire.com/groups/us-too-prostate-cancer/discussion/johns-hopkins-re-tulsa-pro-tact-trial-results-prostate-ablation-3-4-7s/
Thanks Janey!
True. I just don't like sounding like a pumper and want to make sure if you buy, don't do it purely based on Lazerking's analysis lol! To clarify, the highlights are all facts, my timing is speculative, and some of my thoughts on MC, and this being a strong buy are my opinions. But to clarify my opinions if not already clear.....I view this as a very strong buy!
Good luck everyone!
For sure a good sign. Almost no exposure and a very low MC has, in my opinion, given us a great opportunity here. No guarantees of course, but a lot to like. A couple highlights:
1. Raymond James gives outperform and a conservative (their words) price Target if $4.
2. Already in agreements with some of the largest players in the MRI world Phillips and Siemens.
3. World class doctors spoke highly of the device and it's effectiveness from institutions like John Hopkins and UCLA among others.
4. FDA 510k approval just granted.
5. Management has already proven in their prior positions with other companies that they can manage a start up to profitability and/ or buyout.
6. This non-invasive tech is a focus in the medical world......(from what I have read and know. I am not a doctor!)
I am not a professional medical guy or genius trader so these are just my opinions, but there is a lot to like here. Once these guys get more exposure it could really take off IMO. I do think because they are OTC and a Canadian company they may have to prove it first. Not knocking Canadian companies or OTC or Toronto Exchange, just saying it seems like they have to work harder for some reason to gain exposure and investor confidence. I see this as a great opportunity for me (and others who choose to do so) to slowly accumulate at these low levels until possibility Q1 or Q2 of next year. I could be totally wrong about that which is why I am loaded now....but I plan to keep adding for the next 6 months or so. They still have to prove they can scale manufacturing and sell enough units to be an ongoing profitable company, but I like the odds here. All my opinions and there is a lot of speculation above. Good luck everyone.
Good luck Smokey John.
I have also been able to execute buy orders at any time through my Etrade account. Last buy was Friday 8/30.
As am I mrdecember. Got a few orders filled this week. Could always have more, but I am happy with my current position. Will look to add at opportune times if presented....and if I can dig up some more scratch.... Good luck!
I have really tried to be patient while accumulating. I will continue adding hoping for dips but not counting on it. Looks like I will be averaging up as opposed to averaging down. A good sign in my opinion. Good luck all!
Been on the road traveling for work, but this hit today. Still live the potential here! Good luck everyone!
"Profound Medical Corp : Raymond James initiates coverage with outperform rating and C$4 target price"
Back to back news is always good. Once this gets some eyes on it, we should all benefit. Just my opinion of course.
Good luck!
I agree. We do need to see some solid execution of their plan to begin commercialization in the US. Approval is a huge hurdle now gone though. If this was a more widely known company or trading on a larger market it probably would have been up higher in my humble opinion. Trading on their current platform may give people like us the chance to keep buying for a bit at very reasonable and maybe even discounted price. With that said, all has to go well before we get to $land.
These are all just my opinions. Good luck all