Have interests in Palomar. Heard that approval is on the way in May or June. Spoke to a broker who says even he has made a large investment as he beleives this stock will hit $30.00 after approval. On April 16th from Beverly, Mass PRNewswire reported," Spectrum Medical Technologies, Inc., has signed an agreement with the Laser and Skin surgery Center of New York designating the Center as a clinical patient testing site for Spectrum's new laser-based hair removal system, Epilaser (TM). The Laser and Skin surgery Center of New York is one of the world's most comprehensive laser facilities with more than 12 different lasers in daily clinical use. Physicians at the New York facility included world-renowned laser expert Dr. Roy Geronemus: Dr. Melanie Grossman one of the original researchers in hair removal; Dr. Arielle Kauvar, and Dr. Leonard Bernstein. The Center pioneered treatments for the removal of vascular lesion, pigmented lesions and tattoos, as well as skin resurfacing and Mohs micrograft surgery. The New York City location is Spectrum's first clinical Epilaser testing site, following the development of the system by Dr. R. Rox Anderson and Dr. Melanie Grossman at Massachusetts General Hospital. "By signing this agreement with the Laser and Skin Surgery Center of New York, we now have one of the foremost clinical practices to compliment the original research and development efforts introduced by Mass General Hosptial, " said Michael Smotrich, PH.D., Palomar presdient.
"We are anticipating a promising and fruitful agreement with Palomar that will yeild test results which generate significant data for both Palomar and our center regarding the removal of hair," said Dr. Geronemus.
On April 9, Palomar received clearance to sell Epilaser in Canada, which is estimated to be a $300 million market pr year. Palomar plans to market the system through Toronto-base Sigmacon, the largest distributor of medical lasers in Canada and one of the three largest in North America.
The Epilaser system is currently awaiting Food and Drug Administration clearance in the US, following Spectrum's filing of a 510(k) application on December 8, l995. The Epilaser prototype was unveiled at the American Academy of Dermathology meeting in Washington, D.C., in February. Palomar previously announced its strategy to market Epilaser through cosmetic surgeons, dermatologists, and other members of the medical community.
Palomar Medical Technologies, Inc., is a leading supplier of proprietary laser systems for medical, dermatological and cosmetic laser treatments. Palomar's Electronics Cor. focuses on advanced eletronic packaging and the develpements, manufacturing, and sale of specialty electronic products.
Hope this of help, looks hopeful to me. Canada usually approves medical procedures and medications faster and earlier than the U.S. GOOD LUCK! |
