The company had a conference call on Wednesday, December 4, 2013. It is archived at bsdmedical.com.
investor.bsdmedical.com
The call was mainly just a recitation of financial data from the latest 10K. However, in the Q&A period, CEO Wolcott opened up a bit and spoke about the company's goals and expectations -- which, if you understand them in depth, are in the mind-boggling category. As discussed here, at SI, the company is the outstanding world leader in a new cancer-therapy regimen -- providing not just another pill or fancier surgery or yet more powerful (and dangerous) hard-radiation therapy. Precision heating of cancerous tissue -- to a) enhance the other therapies of surgery, chemo, and radiotherapy of b) directly kill ("ablate") cancers -- is thoroughly proven; and approved by many countries around the world. In the U.S., only some of BSD Medical's machines have full FDA approval (but many Phase 3 trials have been highly positive for the other machines). Some idea of the importance of this emerging microwave heating therapy is revealed by some European-led movements to establish it as the "4th pillar of cancer therapy"! -- along with surgery, chemo, and radiation.
BSD Medical has accomplished a long history of product developments for microwave hyperthermia and ablation -- and is the clear world leader in the these therapies.
I have not yet seen a transcript of the CC, but it is still available for listening. Here is what I posted at IV (Dec 5th), about Wolcott's remarks, after listening to them several times. As I am not a professional transcriber, these comments are offered as my opinion, only. They are the best I can do. Go listen for yourself, and correct any errors.
Some comments about what was said in the CC:
Multiple-listening to what is said in CCs is VERY!!! important. And, go back and forth as necessary to be certain about the specific wording. It is amazing how much people can mis-hear or simply miss, from a one-time hearing. I wish companies were *required* to issue transcripts of CCs – and to clarify as necessary!
Note: jumping back-and-forth in the present CC replay is easy --- but, in my display, at least, the right-hand side of the time bar is invisible. It is functional, though – just click to the right of what IS visible.
At about 45 min. along in the CC, a “Claude Klein” asked some pertinent questions – including about Terumo. This stimulated Wolcott to open up about some marketing issues and BSD M’s goals. This portion of the CC is very much worth listening to – and remembering – at least the first 5 minutes. Wollcott clearly welcomed the chance to expand a bit. I suspect what he said was not covered in the main presentation as it might seem “defensive” if made a main topic.
Also, speaking about Terumo carries some risks. He offered this – as an aside – while discussing Terumo in general (roughly – not a transcription):
‘ He said he had to be careful to not say too much about Terumo – that they might be unhappy about what he said.’
Remember what I have been harping about? That the Terumo contract very likely has legal restrictions about what BSD M. can say. I believe the above is confirmation of that claim (it is more-or-less a standard part of any strategic marketing alliance). And, those restrictions are very likely to include Terumo’s sales numbers. Such data, and much else, will be considered like part of a major battle plan in a war!
Wolcott held forth in reasonable depth – broad scale -- about BSD M’s MTX-180 marketing plans -- and, re Terumo -- including the following (only rough quotes, not an actual transcript – which I hope to see, soon):
About 56 min along: BSD M.’s goals are to establish MW therapy as a “front line” practice – largely displacing surgery, at a fraction of the cost.
Re the MTX line, $500 million addressed market size, now – 4 times that much expected
Competition to MTX-180 is RFA – but the MTX-180 is far better
Their fee-per-use plan for the MTX in the U.S. is going well |
