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Is Biosensors a good buy?
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gpwl2006
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09-Dec-2006 19:36
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gd post, does it mean that biomatrix will be quite tough to get approval? | ||||
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lg_6273
Elite |
09-Dec-2006 19:32
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Panel says wide use of drug-coated stents risky Fri Dec 8, 2006 11:34 PM ET By Lisa Richwine and Susan Heavey GAITHERSBURG, Maryland (Reuters) - Drug-coated heart stents are more likely to cause blood clots and other complications in certain high-risk cases and patients and doctors should be warned, a panel of medical experts advised on Friday. Labels for the devices, sold in the United States by Johnson & Johnson and Boston Scientific Corp., should note that sicker patients face a higher chance of blood clots that can lead to heart attacks and death than people with simple blockages, the panelists said. There was not enough evidence to conclude whether drug-coated stents are any better or worse than older, bare-metal versions in complicated cases, they said. The FDA has not approved drug-coated stents for patients who have had complications such as severe heart attacks or multiple blockages, but doctors can still use them. Such practice is known as off-label use. An estimated 60 percent or more of drug-coated stents are used in unapproved patients, according to the FDA. "I think the panel would like to see the amount of off-label use go down," panel chairman Dr. William Maisel of Beth Israel Deaconess Medical Center said after a two-day public hearing called by the Food and Drug Administration. The FDA is not bound by the advice of its expert panel but the director of its Center for Devices and Radiological Health, Dr. Daniel Schultz, said the input could prompt changes to the product labels or some type of public notification. The agency asked for advice after research this year showed drug-coated stents -- tiny mesh tubes that work to keep arteries open after they are unclogged -- can cause blood clots in some patients months after implantation. Some cardiologists said patients in high-risk groups might do better with heart bypass surgery. UNAPPROVED USE About 6 million patients worldwide are estimated to have received drug-coated stents, a $6 billion-a-year market. "I'm not sure it's going to change any patient that I treat," said panelist Dr. George Vetrovec of Virginia Commonwealth University. Overall, the panel of cardiologists and other experts said more data was needed to help decide the best care. "We just don't know enough to say it's safe given the fact that its adoption has been so rapid," said Dr. Norman Kato of the California-based Cardiac Care Medical Group. Panel members said they agreed with current guidelines that recommended patients take anti-clotting drug therapy, such as aspirin and Plavix, for up to a year to minimize hazards. Plavix is sold in the United States by Bristol-Myers Squibb Co. and Sanofi-Aventis. The panel said studies for future drug-coated stents should be expanded to assess the risk of blood clots. "I think we are saying ... they need to be larger, longer and give us some ideas of (clotting) rates for individual stents," Maisel said. Abbott Laboratories Inc. and Medtronic Inc., which are both seeking to sell their drug-coated stents in the United States as early as next year, told the panel their products should be assessed independently, "All drug-eluting stents are not the same," said Krishna Sudhir, a medical director in Abbott's vascular division. (Additional reporting by Julie Steenhuysen and Kim Dixon in Chicago) |
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hikitty
Master |
09-Dec-2006 08:36
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Was a time frame mentioned in UBS report for the $1.25 TP (targeted price)? Without a time frame, it's a "head I win, tail you lose" mentality. | ||||
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iPunter
Supreme |
09-Dec-2006 00:00
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doing the technicals... yea, way to go, man... :) | ||||
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investor
Senior |
08-Dec-2006 23:17
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Technically, since the june 29 high of 1.01, Biosensor has been making sucessive highs of 0.97, 0.975, 0.955, etc. This week is the first time in mths, that it has climb to a higher high, namely 0.995, achieved on 6th dec (wed). Now that it is doing a correction, it would be preferable that it does not correct to a lower low, ie it should not go lower than 0.825. Ideally, we would hope that it does not go lower than 0.91, which would represent a 50 % retracement of the recent upward move. It would really look bullish, if it resume its uptrend and clear the high of 1.01. |
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knightrider
Elite |
08-Dec-2006 09:48
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A broking house reports is issue a buy call and target at S$1.25. Good Luck. Biosensors International Dec 6 close: S$0.985 UBS Investment Research, Dec 4
Four changes in recent years: Bio sensors has seen three CFO changes over the past few years, including Chato Abad who joined in December 2005 and has just resigned. COO Steven Thomson left in June 2006. Thus, the company has seen several changes in its senior personnel in recent years. US$30 million in convertible bonds, resulting in around 8 per cent dilution: Biosensors also announced on Nov 23 its intention to issue convertible bonds for up to US$30 million, which has now been completed. The bonds, along with free warrants issued, will result in about 8 per cent dilution and are issued to accelerate its polymer-free and biodegradable drug-eluting stent R&D programme. Our view hinged on impending CE approval: Our 'buy 2' call is based on likely receipt of CE approval by Biosensors, given that the company applied for this in April 2004, and we believe about two years may be a reasonable time frame to get this approval. Recent acquisition of Conor by Johnson & Johnson in the US for some US$1.3 billion (relative to Biosensors' market cap of US$0.5 billion) provides us valuation comfort. Valuation - S$1.25: We value Biosensors using a two-stage DCF to equity, based on a COE of 11.5 per cent and terminal growth of 2 per cent. Our valuation does not take into account recent dilution due to convertible bonds and warrants. BUY Biosensors International Dec 6 close: S$0.985 UBS Investment Research, Dec 4
Four changes in recent years: Bio sensors has seen three CFO changes over the past few years, including Chato Abad who joined in December 2005 and has just resigned. COO Steven Thomson left in June 2006. Thus, the company has seen several changes in its senior personnel in recent years. US$30 million in convertible bonds, resulting in around 8 per cent dilution: Biosensors also announced on Nov 23 its intention to issue convertible bonds for up to US$30 million, which has now been completed. The bonds, along with free warrants issued, will result in about 8 per cent dilution and are issued to accelerate its polymer-free and biodegradable drug-eluting stent R&D programme. Our view hinged on impending CE approval: Our 'buy 2' call is based on likely receipt of CE approval by Biosensors, given that the company applied for this in April 2004, and we believe about two years may be a reasonable time frame to get this approval. Recent acquisition of Conor by Johnson & Johnson in the US for some US$1.3 billion (relative to Biosensors' market cap of US$0.5 billion) provides us valuation comfort. Valuation - S$1.25: We value Biosensors using a two-stage DCF to equity, based on a COE of 11.5 per cent and terminal growth of 2 per cent. Our valuation does not take into account recent dilution due to convertible bonds and warrants. BUY Four changes in recent years: Bio sensors has seen three CFO changes over the past few years, including Chato Abad who joined in December 2005 and has just resigned. COO Steven Thomson left in June 2006. Thus, the company has seen several changes in its senior personnel in recent years. US$30 million in convertible bonds, resulting in around 8 per cent dilution: Biosensors also announced on Nov 23 its intention to issue convertible bonds for up to US$30 million, which has now been completed. The bonds, along with free warrants issued, will result in about 8 per cent dilution and are issued to accelerate its polymer-free and biodegradable drug-eluting stent R&D programme. Our view hinged on impending CE approval: Our 'buy 2' call is based on likely receipt of CE approval by Biosensors, given that the company applied for this in April 2004, and we believe about two years may be a reasonable time frame to get this approval. Recent acquisition of Conor by Johnson & Johnson in the US for some US$1.3 billion (relative to Biosensors' market cap of US$0.5 billion) provides us valuation comfort. Valuation - S$1.25: We value Biosensors using a two-stage DCF to equity, based on a COE of 11.5 per cent and terminal growth of 2 per cent. Our valuation does not take into account recent dilution due to convertible bonds and warrants. BUY |
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singaporegal
Supreme |
08-Dec-2006 05:06
Yells: "Female TA nut" |
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looks to be on strong uptrend still | ||||
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lg_6273
Elite |
07-Dec-2006 20:16
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Drug-coated heart stents face safety review Thu Dec 7, 2006 6:52 AM ET By Lisa Richwine WASHINGTON (Reuters) - U.S. advisers will start considering on Thursday the risks of drug-coated stents implanted in millions of heart patients, examining evidence showing the devices may lead to dangerous blood clots. Drug-coated stents, sold in the United States by Johnson & Johnson <JNJ.N> and Boston Scientific Corp. <BSX.N>, are used to prop open arteries after doctors clear them of blockages. The devices were hailed as a major advance just three years ago because the drug coating on the tiny mesh tubes cuts the chances of an artery closing again, a problem reported with about a quarter of bare-metal stents. Now, doctors are rethinking their quick adoption of drug-coated stents after blood clots appeared in some patients months later. Blood clots can lead to heart attacks and death. The Food and Drug Administration is convening a panel of outside experts to sort through varying studies and provide advice about the level of risk and which patients should be candidates for drug-coated stents. A key question will be how to weigh the chances of blood clots against the risk of reclosing from a bare metal stent. "This is a public health issue of great importance," said Dr. Daniel Schultz, director of the FDA's Center for Devices and Radiological Health. The agency "didn't want to wait until we had every last piece of information" before trying to provide guidance about stent use, he told reporters on Tuesday. A preliminary FDA staff analysis concluded there was a "small but significant" risk of blood clots appearing a year or more after a drug-coated stent is implanted. It was unclear if the long-term risk of dying or having a heart attack was elevated, the FDA staff said. Nearly 6 million patients worldwide have received drug-coated stents, and the market is worth nearly $6 billion a year, according to an estimate by JP Morgan analysts. Makers say the drug-coated versions continue to offer advantages over bare-metal alternatives. Boston Scientific has said it found a slight increase in blood clots with its Taxus drug-coated stent but no higher rate of heart attacks or deaths. Johnson & Johnson has said data so far show no significant difference between the risk of blood clots from its Cypher drug-coated stent compared with bare-metal versions. Abbott Laboratories Inc. <ABT.N> and Medtronic Inc. <MDT.N> market their versions of drug-coated stents in other countries, and are aiming for U.S. launches as early as mid-2007. |
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maxsyn
Veteran |
07-Dec-2006 13:00
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play up with news. Now the news is not confirmed, so heading south |
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hikitty
Master |
07-Dec-2006 11:50
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Thanks iPunter for your learned response. Shares that gyrate up and down ,often not reaching even their IPO prices or heading south more often than heading north, are deemed to be "play" shares. Investors may not buy unless there are positive signs of them heading north. |
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iPunter
Supreme |
07-Dec-2006 11:38
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When in the market, all shares are 'play' shares... :) |
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hikitty
Master |
07-Dec-2006 11:29
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Until and unless its earnings growth is postive or confirmed over a few quarters, it will remain a a "play" share for some time. It's strikingly similar to LMA in that both are "medical-related and fundamentally sound" shares, yet have been "play" shares since being listed. They are fundementally sound as most human beings in their lifetime may need to use it sooner or later. Everyone has to use an LMA (laryngeal mask airway), during an operation or dying moments though the brand may not be LMA. Because of copycats, LMA's earnings growth has been been adversely affected, though it should grow profitable soon with LMA winning its suits and claims against copycats. | ||||
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zhuge_liang
Supreme |
06-Dec-2006 21:55
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UBS has a price target of $1.25. | ||||
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zhuge_liang
Supreme |
06-Dec-2006 21:54
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It soared to a five-month high of $0.995, after a research report raised hopes that the firm's product will secure the CE mark approval, allowing it to be sold in Europe. UBS analyst Gaurang Bhatia maintained his "buy" call on, adding that this was "based on likely receipt of CE approval." Bhatia said that Biosensors had applied for the approval in April 2004 and that a two-year wait was "a reasonable time frame." |
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investor
Senior |
02-Dec-2006 13:06
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It is interesting to note that Biosensors recently issued convertible bonds to 2 private equity funds, convertible to shares at approx 1.03, maturing in Nov 2009, worth about US$30 million. This augurs well for Biosensors, in that these funds have confidence in the company. The funds are Granite Global Ventures III and the Evolution Master Fund. In the details, you would note that the funds have the option to convert the bonds into shares either in the Spore mkt or in the States (ie Nasdaq or New York), implying that the company is probably in the process of persuing a secondary listing in the States. Also, in the details, just announced this morning, the new funds can subscribe to further issues of debt or equity, provided that if further issues are to NEW STRATEGIC INVESTORS, then these funds will not be eligible to participate. Strategic Investors are defined as 'individual or entity that can contribute skills, expertise or knowledge to the company in the area of sales, distribution, R & D, production or obtaining ot clinical or regulatory approvals. |
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zhuge_liang
Supreme |
01-Dec-2006 01:02
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OCBC said it has initiated coverage with a "buy" call and a fair value of $1.05 on the company's positive outlook given the likelihood of regulatory approval for its BioMatrix drug-eluting stent (DES) and higher sales of its biodegradable DES technology. "We forecast that regulatory approval for Biosensors' Biomatrix will come in the first quarter of next year. As such, we see a jump in DES sales to start in the year to March 2008," OCBC said in a note. For the year to March 2007 and 2008, OCBC forecasts DES sales at Biosensors to grow 101 % and 388% yoy, respectively. The brokerage also noted that the positive clinical feedback for the company's DES technology and its recent collaborative agreement with JW Medical Systems to market DES products in China bode well for Biosensors as it works towards a polymer-free DES and benefit from the lower manufacturing costs and JW Medical's distribution networks in China. |
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singaporegal
Supreme |
30-Nov-2006 22:46
Yells: "Female TA nut" |
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Be careful ... still looks to be on a downtrend | ||||
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IreneL
Senior |
30-Nov-2006 15:14
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Hi EastonBay Many thanks for your advice on the web issue. I am tech savvy and use my laptop for normal functions such as emails, surfing the net. I've had problem with logging onto SJ via the conventional method, that is http:www.sharejunction.com.sg. So for the past few weeks, had to resort to logging into the forum/its website via SJ's daily shares' portfolio. It seems I need to install "ActiveX control: Adobe Flash Player. |
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knightrider
Elite |
30-Nov-2006 09:08
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Moved up already !!! | ||||
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maxsyn
Veteran |
29-Nov-2006 23:39
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is reversing back to previous low. may break 0.845 support soon 
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