 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
This company supplies chromatographic media to biotech companies that is used to make drugs. They have yet to be profitable but recent developments combined with continued sales growth has set the stage for quite a year IMO. Most recently their sales increased 21% over the same quarter last year. Take a look at the below press release for 1st quarter '97 and this will give you more background. The bad news is all behind this company and it can only get better from here. I have gotten into this stock in a fairly big way ever since they won their lawsuit with Perseptive Biosystems. The play here is that this is a low-risk way to basically buy into the whole biotech industry. These guys are not the ones that are shooting for the 10-fold returns that a drug discovery company is shooting for. Instead, these guys are just selling the supplies to those companies. With the stock market having been so high for so long in recent years there there is tons of cash sitting in all the publicly held biotech companies bank accounts that is just waiting to be spent on stuff like what BioSepra sells. This seems like just the kind of stock that a Peter Lynch would love. Low-risk way to play into a big demand. Would appreciate your thoughts and comments. Especially interested in anyone who may work in the biotech industry and is familiar with BioSepra's Hyper D media. Here's the press release: MARLBOROUGH, Mass.--(BW HealthWire)--April 24, 1997--BioSepra Inc. (Nasdaq: BSEP) reported today that first quarter 1997 sales increased by 21 percent over prior year levels to $3.4 million. Excluding the unfavorable impact of foreign currency exchange rate comparisons, the sales increase over the prior year's period would have been 28 percent. Net losses were reduced to $469,000, or $0.06 per share, compared to $1.2 million, or $0.17 per share in the first quarter of 1996. "The most significant recent event is the United States District Court of Massachusetts' ruling on April 3, 1997 in BioSepra's favor in the lawsuit brought by PerSeptive Biosystems, Inc. (Nasdaq: PBIO) claiming infringement of their perfusion patents," said Jean-Marie Vogel, President and Chief Executive Officer. The effect of this ruling is that PerSeptive's claims that BioSepra infringed three chromatography patents have been rejected. Added Vogel, "We believe that PerSeptive knowingly engaged in unfair competition by suing us three and a half years ago, and this created a lot of confusion in the marketplace, as our biopharmaceutical customers need to rely on long-term suppliers such as BioSepra for their purification processes. We are, therefore, very pleased with the April 3rd ruling. We believe that this ruling will also comfort the increasing number of biopharmaceutical companies that want to use HyperD(R) media--our patented high speed and high capacity media--for the purification of biopharmaceuticals, including monoclonal antibody-based drugs." BioSepra supplies its process chromatography media and other proprietary products to drug manufacturers for use in the commercial production of a wide range of biopharmaceuticals. Among these are interferons, insulin, human growth hormone, special enzymes and vaccines. The Company expects customer demand for these products to increase as more biopharmaceuticals are approved and the manufacturers begin commercial production. In particular, BioSepra is aggressively introducing new products for the purification of monoclonal antibodies. With more monoclonal antibody-based drugs currently in Phase II and Phase III clinical trials than any other class of biopharmaceuticals, they comprise the largest single category of drugs in the near-term biotechnology pipeline. A vast majority of these therapeutics are being developed for patients with the most serious and poorly managed human diseases, e.g., cancer, AIDS, other immune-system disorders such, as multiple sclerosis and rheumatoid arthritis, and heart disease. This press release contains forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual events to differ materially from those indicated by forward looking statements in this release are the delays and cancellations of product orders, the delays in the development of biopharmaceuticals, competitive pressures, general economic conditions, that, upon PerSeptive's appeal to the United States Court of Appeal for the Federal Circuit, this court may either adopt an assertion or argument advanced by PerSeptive or reject a ruling or decision made by the U.S. District Court, and risk factors detailed in the periodic reports filed with the Securities and Exchange Commission. Condensed consolidated statements of operations and financial statements follow. -0- *T BIOSEPRA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 1997 AND 1996 (Unaudited) Three months ended March 31, (In thousands, except per share amounts) 1997 1996 Net revenues $ 3,388 $ 2,806 Costs and expenses: Cost of sales 1,932 1,183 Selling, general and administrative 1,255 1,843 Research and development 558 596 Amortization expense 232 319 ------- ------- Total costs and expenses 3,977 3,941 ------- ------- Income (loss) from operations (589) (1,135) Other income (expenses), net 120 (58) ------- ------- Net income (loss) $ (469) $ (1,193) Net income (loss) per share $ (0.06) $ (0.17) Weighted average number of common and common equivalent shares outstanding 8,416 7,022 -0- BIOSEPRA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) Mar. 31, Dec. 31, 1997 1996 ASSETS Cash and cash equivalents $ 4,392 $ 4,309 Marketable securities -- 360 Accounts receivable 3,212 3,030 Inventory 3,084 3,481 Property, plant and equipment, net 2,174 2,168 Excess of investment over net assets acquired, net 9,094 9,254 Other assets 670 567 ------- ------- Total assets $ 22,626 $ 23,169 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable and accrued expenses $ 3,377 $ 3,443 Deferred contract revenue 3,600 3,646 Notes payable and long-term debt 1,874 1,638 ------- -------- Total liabilities 8,851 8,727 ------- -------- Total stockholders' equity 13,775 14,442 ------- -------- Total liabilities and stockholders' equity $ 22,626 $ 23,169 *T CONTACT: BioSepra Inc. Jean-Marie Vogel (508) 481-6802 or Jean M. Devine (508) 481-6700 KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: PHARMACEUTICAL MEDICINE BIOTECHNOLOGY EARNINGS BW1021 APR 24,1997 | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |