EDT.TO/ Spectral medical

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Bozzie

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Dec 13, 2007
Messages
5,504
Damn, this sucks!


Yep...brutal..I'm surprised they went this route...the word was they had a partner looking at 10% of Dialco but that bid/offer must have evaporated.
This says they are a ways off before anything meaningful IMO.

Hope the house is getting interest CB
 

CoachCB

Active member
Joined
Feb 28, 2005
Messages
8,779
This thing tanked today. I'm glad I got out about a month ago. Is it worth getting back in now that it's down??

Boz - the market has COOOOOLED off here! We've had very little interest at all - we have a buyer coming tomorrow w/ an inspector to do a once-over type inspection of the major systems....and "if it goes well" they intend to make an offer. Other than this, crickets. It's very disappointing.

Here's the link: https://www.realtor.com/realestateandhomes-detail/1143-S-Edison-St_Arlington_VA_22204_M52732-95649
 

Bozzie

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Joined
Dec 13, 2007
Messages
5,504
I'm surprised you're not getting action... Nice pad CB...It'll move.

IDK if I'd jump in here...Only thing I can think is this might be money to move up a market.
Why rise now without much indication of the move happening plus it seems enough cash was on hand to operate for the year.

I have a connection at the company but I'm waiting a few days to cool down and get straight on what went down a why before I inquire about this left field move... If it's connected to a material move I'll get no answers this company has alway been overly careful with good and bad news.

If I find out anything I'll post it.
 

Bozzie

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Dec 13, 2007
Messages
5,504
The only thing I can come up with to rationalize this horrible price on the financing is that it's a necessary precursor to either an uplisting of Spectral or an IPO of Dialco. The reason I think this is because they have 5 million already in the bank to get them thru the end of the year and so there wasn't really any pressure to force them to accept this badly priced money raise.. So why would they jump the gun at such horrible terms of this financing? It only makes sense that they did this because they prioritized the timeline of doing an uplisting/IPO over the bad price of this financing. If this is true then the next thing we should expect is a reverse split because they need the stock price to be above $3 minimum I believe. Anyways I have no idea if I'm right but this is the only scenario I could come up with to make sense of doing a financing at such a horrible price.
 

Bozzie

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Joined
Dec 13, 2007
Messages
5,504
I had a very informative call last week about the company.
I think this fall they make a move to a US market.. witch lead to a conversation about the competitors pumps that are publicly traded.
Outset who went public last year and is valued at 2.3 by the market the stock was underwritten at 27 bucks and It opened at 52 on the first day of trading was the main subject.
I didn't know lot about Outset except it was valley money( Venture capital guys) who saw the opening in the pump market and jumped in and got Outset approved quickly..Very quickly witch I could never understood till this weekend. Apparently the Outset pump is a rehash of another older pump with an added water purifying system and a few other features that were needed to legally make it a new product. This guy I spoke to said he doubts any major will buy them and even questions weather the company will make it at all in the end...I noticed on the 9th Outset added a secondary offering.

Here's the part that's telling..Davita who has +2500 location serving dialysis sessions for those in need did the Human Fault Testing on the Outset pump...Side note DaVita buys their in clinic machines from their biggest competitor Fersenius who owns the nextstage pump. DaVita ran the HF test for outset successfully then got and option to run the Outset machines in clinic at a deep discount instead of buying pump from Fersenius...they passed and will continue to buy their major competitors pump. Says a lot about the Outset machine.

Sounds like DaVita will be running the spectral HF tests coming upon here .. DaVita needs a pump but for now it'll continue supporting it biggest competitor fersenius and the Nextstage platform

Pretty juicy. The Uplist may be a good time to sell my original investment..then let the rest ride .
As far as Outset goes I don't see why it wouldn't be a good short at 54 dollars, new equity offering at 53.50 ..worth watching just for fun.

https://finance.yahoo.com/quote/OM?p=OM&.tsrc=fin-srch

Outset Pump 70,000 = 20,000 building a room with 240 and an expensive water system.. the machine pays for itself in 7.2 years
Spectral's machine (Demi) 20,000 no special hook up..plug and play 1.5 years to pay off


Insurance companies will love Demi.




Thankfully it looks as if DaVita will be running the Dialco tests. Hopefully the news pulls this outa the horrible tailspin as of late....

CEOs been buying on the open lately.

Outset 44 dollars and change today after crashing to 35.00 with not so good sales.

https://finance.yahoo.com/quote/OM?p=OM&.tsrc=fin-srch
 

Bozzie

Well-known member
Joined
Dec 13, 2007
Messages
5,504
Still holding long, haven't sold any despite the horrible performance as of late.
Company Update: 11/12/21


 

REDEYE

Nirvana Shill
Joined
Oct 20, 2001
Messages
25,062
What do you think about buying in at this present price ? I got in at .40 awhile back..
 

Bozzie

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Joined
Dec 13, 2007
Messages
5,504
SPECTRAL MEDICAL ANNOUNCES U.S. FDA APPROVAL OF TIGRIS TRIAL PROTOCOL AMENDMENT TO EXPAND INCLUSION CRITERIA

Amendment aligns eligibility for Tigris with current clinical practice in septic shock

Potential to improve Tigris enrollment rates by 25% to 50% and reduce time to trial completion

Five additional clinical sites now participating with 15 total sites fully on board

TORONTO, Canada – November 29, 2021 – Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late stage theranostic company advancing therapeutic options for sepsis and septic shock, as well as commercializing a new proprietary platform targeting the renal replacement therapy market through its wholly-owned subsidiary Dialco Medical Inc. (Dialco), today announced that the United States Federal Food and Drug Agency (“FDA”) has approved a protocol amendment to its Tigris trial allowing for the use of sequential organ failure assessment (“SOFA”) scoring as inclusion criteria into the study. Additionally, the Company announced five additional clinical sites to begin enrollment, including Louisiana State University, Cleveland Clinic, University of Arkansas, University of Michigan and Colorado Springs bringing the total number of participating sites to fifteen.

Dr. John Kellum, Chief Medical Officer of Spectral, commented, “We are very pleased with the FDA approval of our Tigris protocol amendment to allow the use of SOFA, which is an alternative scoring system used to quantify severity of illness. Adding SOFA as an alternative to capture cardiovascular dysfunction when it is already being treated by vasopressor drugs removes a critical barrier to enrollment using MODS and harmonizes the study protocol with current sepsis guidelines and practice patterns across most hospitals. We are very excited to implement SOFA into the study as we believe it should have a significantly positive impact on enrollment. We estimate enrollment will increase by 25% to 50% using SOFA.”

“The ability to include patients based on SOFA scores removes a major barrier to enrollment in Tigris,” said Dr. Ali Al-Khafaji, Professor of Critical Care Medicine at the University of Pittsburgh School of Medicine. “While our site has enrolled patients based on MODS, the ability to now enroll patients based on SOFA should have a material impact on our enrollment rates. I would expect this enrollment impact to be universal across other Tigris sites, and should greatly reduce the time needed to complete the trial.”

Despite a challenging clinical environment due to COVID-19, Spectral has had success in adding new trial sites into the Tigris trial. At present, there are 15 sites committed to the trial. Dr. Kellum continued, “Although all sites are very much engaged in the trial, they are challenged by balancing the demands of COVID and their ability to focus on clinical trial enrollment activities. That being said, all of our Tigris sites have been specifically targeted for our study based on numerous characteristics, including expertise in sepsis, blood purification devices and conducting clinical trials. We are pleased to announce the additions of Louisiana State University, Cleveland Clinic, and University of Arkansas, all of which are renowned institutions in the field of sepsis. Furthermore, University of Michigan and Colorado Springs are now open to enrollment.”

“We are very excited to join the Tigris trial,” said Dr. Kyle Gunnerson, Associate Professor, Emergency Medicine at the University of Michigan Medical School. “Sepsis remains a major unmet patient need, and we view PMX as a potentially consequential therapy to address this unmet need. As a clinical site partner, we view the Tigris trial as a well designed study positioned for a positive outcome. With the flu and winter seasons around the corner, and as COVID recedes, we are expecting an increase in sepsis cases, and believe we can be an active enrolling site.”

Chris Seto, CEO of Spectral, commented, “As we head into 2022, the Tigris trial is well positioned to accelerate enrollment and finalize the trial as expeditiously as possible. While it’s important for the overall clinical environment to continue to normalize, we now have the full complement of sites engaged. Furthermore, we are encouraged by the current mortality results, which exceed expectations.”

MODS vs. SOFA Summary
Both MODS and SOFA are measures of organ dysfunction. They report on the same six organ systems with complementary variables with the exception of the assessment of cardiovascular dysfunction. The MODS score utilises a formula that includes blood pressure, heart rate and central venous pressure, while the SOFA score targets blood pressure and degree of vasopressor requirements. With the ability to utilize both scoring systems, the breadth of opportunities for enrolment increases as not all patients with sepsis have central venous pressures measured. In those cases, the SOFA method may be used.

About Spectral
Spectral is a Phase 3 company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis.

PMX is approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 300,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 330,000 patients are diagnosed with severe sepsis and septic shock in North America each year.

Spectral, through its wholly owned subsidiary, Dialco Medical Inc., is also commercializing a new set of proprietary platforms addressing renal replacement therapy (RRT) across the dialysis spectrum. SAMI is targeting the acute RRT market, while DIMI is targeting the chronic RRT market. Dialco is currently pursuing regulatory approval for U.S. in-home use of DIMI, which is based on the same RRT platform as SAMI, but will be intended for home hemodialysis use. DIMI recently received its FDA 510k clearance for use in hospital and clinical settings, and obtained its Health Canada license for use within Canadian hospitals, clinics and in home.

Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information, please visit www.spectraldx.com.

Forward-looking statement
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.
For further information, please contact:
Mr. Chris Seto
CEO
Spectral Medical Inc.
416-626-3233 ext. 2004
cseto@spectraldx.com Mr. Ali Mahdavi
Capital Markets & Investor Relations
416-962-3300
am@spinnakercmi.com
 

Bozzie

Well-known member
Joined
Dec 13, 2007
Messages
5,504
"SOFA score targets blood pressure and degree of vasopressor "

The vasopressor score is the spot the cartridge has had very positive effects...should help with a positive trial outcome.
 

Bozzie

Well-known member
Joined
Dec 13, 2007
Messages
5,504
Yea , I 'm good , and sitting on it if that's what it takes.


good good..I've bought a few times with thought of selling some on the next bump up...I have +500k so I'd like to lighten this up some.
 

REDEYE

Nirvana Shill
Joined
Oct 20, 2001
Messages
25,062
good good..I've bought a few times with thought of selling some on the next bump up...I have +500k so I'd like to lighten this up some.
I'm not in like that , so lets hope that comes in for you..

But I could add more to try and catch up...
 

Bozzie

Well-known member
Joined
Dec 13, 2007
Messages
5,504
I'm not in like that , so lets hope that comes in for you..

But I could add more to try and catch up...


I'd highlight this statement below from this AM's PR
It's maybe the most positive statement I've seen outa this company in years.
If this passes the FDA it'll be decent money Red...plus the pump is still an extremely attractive as asset.


Chris Seto, CEO of Spectral, commented, “As we head into 2022, the Tigris trial is well positioned to accelerate enrollment and finalize the trial as expeditiously as possible. While it’s important for the overall clinical environment to continue to normalize, we now have the full complement of sites engaged. Furthermore, we are encouraged by the current mortality results, which exceed expectations.”
 

Bozzie

Well-known member
Joined
Dec 13, 2007
Messages
5,504
SPECTRAL MEDICAL SCHEDULES CONFERENCE CALL TO PROVIDE CLINICAL UPDATE AND DISCUSS LATEST DEVELOPMENTS

TORONTO, Canada – November 30, 2021 – Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT) and its wholly-owned subsidiary Dialco Medical Inc. (“Dialco”), today announced that it will host a conference call at 2:00 PM EST on Thursday, December 2, 2021, to provide a clinical update and discuss the latest business developments.

The conference call will be available via telephone by dialing toll free 877-407-0789 for U.S. callers or for international callers +1 201-689-8562. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1517076&tp_key=36dec0df72 or on the Company’s Investor Events section of the website here. The conference call will be led by Chris Seto, Chief Executive Officer, Dr. John A. Kellum, Chief Medical Officer, and Debra M. Foster, Vice President, Clinical Development of Spectral Medical Inc.

Investors and other interested parties are invited to submit questions to management prior to the call’s start via email to edt@crescendo-ir.com.

A webcast will also be archived on the Company’s Investor Events section and a telephone replay of the call will be available at 5:00 PM EST on December 2, 2021, through December 9, 2021, and can be accessed by dialing 844-512-2921 for U.S. callers or +1 412-317-6671 for international callers and entering replay pin number: 13725451.

About Spectral
Spectral is a Phase III company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis.

PMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 300,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 330,000 patients are diagnosed with severe sepsis and septic shock in North America each year.

Spectral, through its wholly owned subsidiary, Dialco Medical Inc., is also commercializing a new set of proprietary platforms addressing renal replacement therapy (“RRT”) across the dialysis spectrum. SAMI is targeting the acute RRT market, while DIMI is targeting the chronic RRT market. Dialco is currently pursuing regulatory approval for U.S. in-home use of DIMI, which is based on the same RRT platform as SAMI, but will be intended for home hemodialysis use. DIMI recently received its FDA 510k clearance for use in hospital and clinical settings, and obtained its Health Canada license for use within Canadian hospitals, clinics and in home.

Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information, please visit www.spectraldx.com.

Forward-looking statement
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

For further information, please contact:
Mr. Chris Seto
CEO
Spectral Medical Inc.
416-626-3233 ext. 2004
cseto@spectraldx.com Mr. Ali Mahdavi
Capital Markets & Investor Relations
416-962-3300
am@spinnakercmi.com

David Waldman/Natalya Rudman
US Investor Relations
Crescendo Communications, LLC
212-671-1020
edt@crescendo-ir.com
 

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