Biotech Values

[Titan V]

NDRA +29% (+16% AH) today in anticipation of TAEUS data next month

Investment Thesis: Once MDGL/VKTX get to market, there will be a big increase in new prescriptions written in this space. Will the current capacity of MRI machines and radiologist manpower be sufficient to handle the increased screening of new patients? Probably not. Endra Life Sciences has a value proposition with TAEUS (Thermo Acoustic Enhanced Ultrasound) at 50X less cost.

- Strategic partnership with GE Healthcare
- CEO and two board members GE Healthcare veterans
- $13B addressable market
- Very favorable capital structure

Some tweets of interest:
https://twitter.com/thejadedtrader/status/1044227952811040773

Liver Biopsy is the gold standard for NAFLD/NASH and remember it is expensive and carries morbidity and small mortality risk as well. Therefore if $ndra shows better data in early detection of NAFLD/NASH it will a big moment for the company

— Pharmdca (@Pharmdca) October 19, 2018

(Beyond NASH)
https://twitter.com/Investor2b/status/1053345534696669184

Investor Presentation
https://s3.amazonaws.com/cdn.irdirect.net/PIR/957/2974/ENDRA%20Life%20Sciences%20August%202018.pdf

Question: Why this device? Why won't regular ultrasound be enough to detect fatty liver?

Can a Liver Ultrasound Diagnose a Fatty Liver Accurately?

The characteristics of a fatty liver include a hyperechoic liver where the echo-texture of the liver is brighter than the kidney and blurring of vascular margins. These are relatively sensitive but nonspecific findings and can also be seen in many other causes of chronic liver disease. They do not provide any distinction between steatosis and steatohepatitis and, in the absence of ascites and overt findings of portal hypertension, provides no information on the stage of the disease. It is, however, the least expensive of the imaging modalities available for evaluation of fatty liver disease and is therefore commonly used. The specificity for the diagnosis of hepatic steatosis can be improved with a computed tomography (CT) scan or magnetic resonance imaging (MRI) but with an exponential increase in the cost of the procedure. Also, neither a CT scan nor an MRI can distinguish between NAFL and NASH and have the same limitations with respect to fibrosis as an ultrasound.

https://www.healio.com/gastroenterology/curbside-consultation/%7B4ead0230-77fa-49e9-b74c-584b435c0a9a%7D/which-patients-with-fatt

This is a speculative investment nevertheless. Endra recently received the green light from Health Canada to commence a human trial (which takes only three weeks to complete per the company). Would love to get the board's thoughts on this ticker. I realize this is a nanocap medtech company but could turn out to be a symbiotic company for the bigger NASH companies we discuss here. Thanks.

Disclosure: I am long NDRAW.