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Biotech / Medical : NSIX -- Neuromedical Systems, Inc.
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To: fearless who wrote (117)10/27/1998 8:23:00 AM
From: TLWatson59  Read Replies (2) of 137
 
fearless: I guess the information posted by Mr. McNutt was not really new news to him but an opportunity to reprint a much exposed piece of B.S. published back in July and quickly refuted by NSIX. Note that his posted URL was undated.

The sad part of Neuromedical is that they took the wrong road after coming up with leading edge technology for re-screening PAP smear slides and as a result of a series of marketing and other business blunders were left at the gate when the race became serious. In the interim NSIX has been trying to right their ship and steer a wiser course but time and competition has put them behind the eight ball. Right now only a miracle of winning a key law suit against Neopath involving charges of patent infringement will be able to spring them loose from the bind they are in.

Right now sales growth,using their new business model, is restricted essentially to Europe and Canada and I would not be surprised to see negative sales growth quarter to quarter show up once again in the October, 1998 report due out next month. The only thing keeping them afloat right now is a slower cash burn rate and bank balance in the low $20 million range. There are no positive cash flow figures to help nor profits to look forward until well into 1999 or possibly 2000.
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