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My opinion is don't buy and don't sell yet if you are already vested. BIG is very confident CE will be approved and CFO hinted a very conservative approval is early Jan 2008 right after Christmas Holidays. However, if you haven't bought it cheap before 29/10 chiong and willing to hold for 2 months until early Jan 2008, you may consider buying some when it drop. With CE a certainty and conservative approval date is early Jan 2008, i don't think the BBs will not let this stock drop too much during this stage. We have seen how they push up this stock twice over the past few days. I estimate the BB's average price should be around 82cts if they buy from 29/10 onwards. I feel BBs will push this stock to about $1.30 after CE announcement. Just my opinion and not an inducement to buy.
BIG!!!!!!!!
I also think that CE approval is near. During the last quarterly result announcement on 13 Aug 2007, the CEO said that CE was awaiting existing clinical data.
Therefore, the NOBORI results should have been submitted shortly after the Aug quarterly result announcement.
Hopefully, CE approval comes shortly after the latest result announcement!!!
Then we can see the CHIONG!!!
<Our fair value is now S$0.99 (vs S$1.21). Maintain BUY.. We adopt the typical Medtech valuation of discountingManagement have indicated that revenue forecastsBIG has reiterated that no additional clinical tests/l. BIG's acquisition of PT Fondaco as a directBIG's recent 50% acquisition of JWMS gives it a. Biosensors International Group (BIG) reported 2Q08 results.>
Giving shortist more ammo?
Got to wait about 5 mths and maybe the CE mark will be approved?
OCBC just posted their latest assessment with TP of 0.99:
Biosensors International Group: In transition
Shifting gears
with product sales rising 10% YoY to US$9.2m despite the difficult industry
conditions. But BIG expectedly reverted back to a net loss of US$11m for
the quarter. Gross margins dropped across all product segments due to
shifting of manufacturing to low cost base for critical care products and
shift of focus from present Axxion Drug Eluting Stents (DES) to Bare Metal
Stents (BMS).
A foot in China's door.
foot in the Chinese DES market. This accretive acquisition is synergistic
with BIG's plans for growth as it latches onto JWMS' state-of-the-art, yet
low cost manufacturing facilities. We expect BIG's access to JWMS'
extensive national sales network of 5,400 healthcare organisations and
2,700 hospitals along with JWMS' strong brand equity in China to introduce
unique Drug Eluting Stent (DES) products to the Chinese healthcare market
in the future. (Table 1 for JWMS projections)
Indonesia a good potentia
distributor will help it achieve its plan of capturing part of Indonesia's yearly
estimated 5k-7k interventional procedures. An MOU with state-owned PT
Kimia will help boost sales as BIG aims to have its coronary products
distributed to the >390 hospitals under its jurisdiction. However, we do not
expect Indonesia to contribute significantly in the near term.
When is CE coming?
data have been required by authorities and that it expects positive news
about CE mark going into CY08. It also indicated that its IDE application in
the US is in progress though US$100m (BIG may need to raise funds 2-3
years later) may be needed to get approval to sell in the US.
Its still up in the air.
are inappropriate until the CE mark is approved. Despite the patchy info,
we remodel our financials as we assume CE mark approval between Jan
and Mar 08, Terumo licensing revenue to start in CY09 and consolidation
of JWMS.
We still like them
BIG's first substantial year of profit (in FY10) back to present day.
Our fair value is now S$0.99 (vs S$1.21). Maintain BUY.
Have listened to it but audio not so good in parts. Anyone knows whether there is a transcript?
The CEO and CFO came across as sharp and intelligent.
After listening to the audio conference, 3 things were observed :
1) The fact that CE authorities have got the additional clinical trials data from the Nobori phase 2, augurs well for CE mark approval, plus the fact that the CFO Kevin sayer says that the CE auth should get back to them within 12-14 weeks, IS AN indication of an informal guidance to CE mark approval date, (When questioned by an analyst as to the time frame in terms of mths, years, Kevin quickly added that it SHOULD NOT be in terms of Years.)
2) When Kevin was asked whether the mgmt have considered licensing the FDA approval clinical trials to another company, He quickly added that they are always evaluating things that are beneficial to shareholders (words to that effect).
This possibility, if it is true, will be a tremendous boost to Biosensors, as it frees their resouces to concentrate on Asia, while probably getting them one-time licensing fees as well. (again, just a conjecture, based on the conversation between the analyst and Kevin). )Kindly go and listen to the audio conference and form your own conclusion.
3) The CEO Yoh Chi, talks about clear plans to go into China with Biomatrix, the next few quarters. When, queried by an analyst, he says that in order for that to happen, Biomatrix needs the CE mark approval first - again, an indirect indicator of the mgmt's confidence, this time round.
THe above are my own personal interpretation of the audio conference, and investors/traders should form their own conclusion, by listening to the audio conf.
Again, not an inducement to trade.
ANNOUNCEMENTBIOSENSORS INTERNATIONAL GROUP, LTD.
(Company Registration Number: EC 24983)
Update on Information Pursuant to Earnings Call Pursuant to the earnings conference call held today, Biosensors International Group, Ltd
wishes to update that as a sino-foreign cooperative joint-venture, JW Medical Systems Ltd
("JWMS") is entitled to be exempted from enterprise income tax for two years commencing from January 2006 and thereafter a 50 percent reduction in enterprise income tax for the subsequent three financial years.
*** JWMS is right on track to make at least US$15m this year with revenue of about US$40m. And it is tax free for 2007 so BIG's share will be at least US$7.5m. Next year JWMS will be hitting a pre-tax profit of at least US$25m.
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Wah..... thanks for your genuine concern. Everyone already know you have short positions lah. Enough wayang already lah i almost lau bak sai for your genuine concern. I hope no one will be hurt shorting this stock. Last Friday is already a warning shot from BB who is the boss in this market. The next time may not have warning shot, it may be a time freezing moment for shortists.......... trading halt. |
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My feeling is that Trading Halt pending CE APPROVAL will be called anytime between 13 - 23 November, assuming the NOBORI results were submitted to CE panel in early September.
DO NOT GIVE UP DURING THE LAST LAP OF THIS RACE!!!
LET THE SHORTISTS SHORT ALL THEY WANT. THEY WILL ONLY END UP LOSING $$$
Isqnet.. whether bengster68 provides hopes to ppl is up to each and everyone to determine themselves. Bengster simply provided us with his unselfishness information. whether or not it is useful, true or not, it up to individual. He had never once.. pointed a gun at anyone and demanded all must buy BIG. None of us are predictor.. if we r.... no need to work liao lor..
Invest oni if u believe tis counter will shine.
Like i believed that Yang can shine.. but it failed me.. can i push de blame to those who highly recommended tat counter?