Linda:
I am reproducing the following articles for your reference.
1. Headlines in Boston Globe on July 17,1996
Palomar's laser wins FDA's OK
But company's Epilaser denied approval for hair removal
2. PRN 8/12 PALOMAR DEMONSTRATES EPILASER SYSTEM AT MAJOR ELECTROLOGISTS
BEVERLY, Mass., Aug. 12//PRNewswire/--Palomar Medical Technologies, Inc.
today announced that it was the featured presenter this past week at
the annual meeting and educational conference sponsored by the Society
of Clinical and Medical Electrologists (SCME). At the conference,
Palomar demonstrated its new Epilaser system and investigational device
for hair removal, which received FDA clearance on July 15, 1996, to be
sold and marketed in the United States for various dermatological applications.
Attendees at the conference in Honolulu, Hawaii included electrologists from
around the world. In additon to demonstrating the Epilaser for attendees,
Palomar discussed the potential benefits of using the system, and also presented
a panel discussion to review various ways in which electrologists can incorporate
Epilasers into their practice when FDA CLEARANCE TO SELL AND MARKET FOR HAIR REMOVAL
IS OBTAINED. -------
I own both ThermoLase (TLZ) and PMTI. My colleagues and I thought Palomar's Epilaser
obtained approval from FDA on July 16, 1996. Everybody was confused why the Palomar's
stock price dropped 9% with an FDA approval? Two weeks later, we found out the Palomar's
Epilaser for hair removal was not approved by FDA. I sold my shares of PMTI and am planning
to increase my position in TLZ.
ThermoLase has already opened two spas for hair removal in San Diego and Dallas. The third one
in Beverly Hills, CA is going to open next month. Another 3 spas in Denver, Houston and
Boca Raton will be opened by the end of October this year. TLZ has more potential than
PMTI for the time being but I will be back to PMTI next year.
Good Luck,
Bill |
