WAY BEFORE BOB O'BREIN THERE WAS ANOTHER LEADER OF THE ANTI NAKED SHORTSELLING MOVEMENT. FRAUD ANALYST RAY DIRKS. YOU CAN LEARN MORE ABOUT FRAUD ANALYST RAY DIRKS BY VISITING
RAYMOND L. DIRKS INTERNET RESEARCH TRIBUNAL THREAD
Subject 52930
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thesanitycheck.com
Re: Columbia Journalism Review Chastises NY Press For Treatment of NSS/Sedona Story; NASD Sanctions Broker for NSS By Ginko on 4/26/2006
Bob, Ray Dirks is the answer for OSTK and NFI. Have Patrick get him on the phone. Check out this story from 1995
"Ray Dirks introduced the company at Equities/Eiten Corporate
Presentation Day and, as founder of the ShortBuster Club, he was the
perfect choice. Organogenesis claims over 100% of its stock float has
been shorted by abusive naked short-sellers. Management is up in arms.
Why don't regulators, especially the SEC, enforce the stock borrowing
rules that would make the naked shorts get dressed? Why should the
company be subjected to unfair criticism from Dow Jones publications
like Barron's, CNBC's Dan Dorfman and Evan Sturza, the point man for the
naked shorts who puts out his own medical investment newsletter and a
higher-priced report with shorting targets?"
=========================================
ORGANOGENESIS: THE SKIN OF THEIR TEETH
Magazine: Equities, AUGUST 1995
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You'd be like a Halloween skeleton without your skin. Yet there are few
alternatives to treating that vital organ when it is severely burned or
ravaged by disease. Enter Organogenesis (Amex: ORG-18 1/2).
Ray Dirks introduced the company at Equities/Eiten Corporate
Presentation Day and, as founder of the ShortBuster Club, he was the
perfect choice. Organogenesis claims over 100% of its stock float has
been shorted by abusive naked short-sellers. Management is up in arms.
Why don't regulators, especially the SEC, enforce the stock borrowing
rules that would make the naked shorts get dressed? Why should the
company be subjected to unfair criticism from Dow Jones publications
like Barron's, CNBC's Dan Dorfman and Evan Sturza, the point man for the
naked shorts who puts out his own medical investment newsletter and a
higher-priced report with shorting targets?
The answer from Herbert Stein, the company's chairman and CEO, is to set
investors straight. Stein sent his eggheads to present unflinching
photos and medical data on two screens at Corporate Presentation Day.
They didn't want to recite the usual financial figures. They wanted to
show that Organogenesis is real. "We have the actual results to back us,
" says Stein.
Sturza and others like Overpriced Stock Service may say the company's
products don't work, but Organogenesis marches on in its development of
an important biomedical niche: tissue engineering. The company uses
living human cells and cell-compatible collagen--the major structural
protein of the body--to create living replacement tissue.
One of the resulting products, aptly named Graftskin(TM), is capable of
being remodeled by the body into fully functional tissue. Graftskin
looks, feels and handles just like human skin, yet it comes in
conveniently sized and sealed patches ready for application over wounds.
Many procedures using Graftskin can be performed in a doctor's office.
Skin substitutes like cadaver flesh weren't designed to interact with
the body or reduce the chances of rejection by the body's immune system.
"Our Graftskin has a dynamic interaction with the body," explains
Michael Sabolinski M.D., senior vice president of corporate development
and medical affairs at Organogenesis. In addition, Graftskin appears to
promote better healing of a wound.
In several clinical trials involving over 500 patients, no one has
experienced Graftskin rejections or negative immune responses. "We put
down a tissue that immediately functioned as skin, interacting with the
wound bed," says Sabolinski. "Eventually, the patient's own skin
returned to the wound site."
Graftskin has even done statistically and clinically better than
traditional treatments like a multi-layered compression wrap, where an
ulcerous site is wrapped tightly for six months. In a clinical trial for
treating venous ulcers of the leg, Graftskin was 1.6 times more
effective and three times faster than standard therapeutic compression
in achieving complete wound closure.
It's like an episode of Ripley's Believe it or Not to look at before and
after shots of skin wounds treated with Graftskin. The pictorial
evidence, which stunned the audience at Corporate Presentation Day,
showed blood returning to the wound site, improved cosmetic outcomes,
decreased marking from autografting and re-pigmentation--all with no
additional levels of care required.
How does Graftskin do all this? Others who have tried to grow skin had
one major obstacle: duplicating the functions of the skin's many layers
of cells while leaving out an array of blood and immune system cells
that often cause rejection of the graft. Organogenesis extracted the
different cell types it needed from living tissue (donated from an
infant's foreskin) and managed to reassemble them, layer by layer, so
that they function synergistically like skin.
Graftskin is expected to be the first tissue engineered product approved
by the FDA. The agency recently declared that the company's pre-market
approval application will receive an expedited review.
Not surprisingly, Organogenesis is targeting large markets. The
company's clinical trials have tackled patients with the toughest wounds
burns and ulcers, patients which number over four million across the
country. Future markets the company may address include urinary
incontinence (which afflicts 20 million people), surgical repair patches
for internal organ repair and coatings for endovascular stents.
However, Organogenesis will not vertically integrate into all phases of
the medical industry. "Our mission is to be an R&D and manufacturing
company," explains Sabolinski. "We don't intend to set up a sales
force." To penetrate its markets, the company will establish strategic
alliances with large, established companies. For instance, it has
generated revenues from contract research and licensing agreements with
biggies such as Eli Lilly, which has paid the company $16 million to
research its Graftartery(TM) small-diameter arterial graft.
Naturally, red ink predominates at the bottom line because of
Organogenesis' R&D focus. The company has invested $60 million to date
in clinical studies and research on Graftskin, concentrating about three
quarters of its expenses into R&D. That's half as much as most biotech
firms spend, though. Furthermore, the company has $70 million in capital
funds raised by management.
With strong clinical results and Graftskin possibly hitting American
markets as soon as 1996, Organogenesis could whack a homer clear out of
the investment ball park off of short-sellers' pitches. That is what the
company's fans are rooting for.
PHOTO (BLACK & WHITE): Michael Sabolinski enthusiastically describes the
rapid wound healing results achieved by Organogenesis genetically
engineered Graftskin product: "This medical advance will probably
rewrite medical Patients could also benefit from overall savings in
healthcare costs.
~~~~~~~~
By Susan Rodetis
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Copyright of Equities is the property of Equities Magazine, Inc. and
text may not be copied without the express written permission of
Equities Magazine, Inc. except for the imprint of the video screen
content or via the print options of the EBSCO-CD software. Text is
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Source: Equities, Aug95, Vol. 43 Issue 8, p62, 1p, 1bw.
Item Number: 9510092671 |
