As a physician, I was surprised by Dr. Maisel's comments in the TSC article.
1. He's only received $5900 from CCSI for his work to date.
Folks, unless he is the humanitarian of the decade (doing studies for CCSI in his free time), that is too little money to pay a physician to do a thorough medical research project.
Most biotech and pharmaceutical companies spend millions for R & D.
I wouldn't expect CCSI to be in that league, but come on, just $6000?
Is there mention in the SEC filings of ANY significant R & D expenses?
2. He's NOT using the Colormate in his hospital.
This speaks volumes. Why didn't he keep his Colormate and use it daily if it was so effective? Was it malfunctioning? Was it difficult to equilibrate after each use?
All drugs and medical devices have a few drawbacks, even if minor.
Why isn't Dr. Maisel objective enough to point out both the pros and cons? After all, his journal readers (physicians) are known to be savvy and skeptical about prescribing new products (except for Viagra!)
3. For the first time he mentions that more studies need to be done.
I agree with this, but why did it take so long to bring this up?
It seems that CCSI has been promising a big manufacturing deal based on the results of only two studies.
Physicians are not going to rush out and order a product based on just two studies (one of which had only 43 patients), unless of course the product is truly revolutionary, which the Colormate is not.
Finally, now that CCSI has stated they plan to do further multicenter studies, they will not be entering into any deals until these are completed.
These kinds of studies take months to complete, even with the involvement of experienced CRO's (clinical research organizations that help companies test products). Therefore, no way can the product be rolled out at the end of summer as Darcy just stated recently.
Therefore, IMO, the stock price is going to linger in the doldrums for a long time, as longs and shorts battle it out.
Regards,
Susan
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