CRDM Yes, the Canadian approval of REVELATION Tx for the treatment of AF is indeed good news for the company.(At their present burn rate they have enough cash for just one more Q.<g>)
A small private placement of $3.7M, needed to sustain the company while it awaits the FDA's final verdict, was announced last Monday. (I was not aware of that and its also very good news.<g>)
The Revelation Tx has received CE approval in Europe and is in a Phase III in the US to treat AF
The company has quite a good number of well funded competitors (JNJ, GDT, BSX, among others), but CRDM's catheters, are coated with a hydrophilic coating which has been used on Target Therapeutic's products designed to access the vessels of the brain. (CDRM has an exclusive license to use the hydrophilic coating technology on its catheters)
Although CRDM makes and sells microcatheters for the diagnosis of VT, its main focus is on AF, which of course is a much more prevalent condition and it would be of enormous value for the company when approved in the US.
CRDM's catheters are flexible and torqueable, providing thinner linear lesions and less destruction of tissue when emitting radiofrequency energy for ablation and are designed as single-use, disposable products.
I think they are also used to treat PAT or other re-entry tachycardias which now by electrophysiology studies can be found to be caused by an abnormal tract.Their microcatheters are among the smallest diameter available.
Will see if the shares can close today above $1.25.(That would be higher than its Hs since last July.)
siliconinvestor.com
siliconinvestor.com
The July 9 H was $1.45 and the July 20 H $1.70. (The April H was $1.95)The shares have to close above that last hurdle before they can test its Aug.2001-Dec.2001 resistance at the $2.60 to $2.65 level.
siliconinvestor.com
Incorporated in 1992,CRDM didn't participate much in the bull market before the BBB (Its July 98 H was $10.82)
siliconinvestor.com
Bernard |
