Biotech Values

[DewDiligence]

ISRG – I see now that you posted the 1Q09 procedure count of 45K in #msg-37854686, but this makes ISRG’s non-reporting of the procedure count from 4Q08 seem even odder.

If the company, as a matter of policy, never reported quarterly procedure counts, I would consider it odd but at least it would be consistent. But reporting the quarterly procedure count selectively, which is what ISRG evidently does, suggests to me that they do indeed have something to hide.

Based on the financial metrics that ISRG did report for 4Q08, I would be willing to bet money that the procedure count in 1Q09 was less than in 4Q08.

Please explain why a growth company whose product is purportedly seeing greater and greater acceptance in the marketplace should see a decline in the procedure count from 4Q08 to 1Q09? I don’t get it.