Competitive Technologies (CTT) has advanced from $1.50 a mere ten days ago to $3.00 today as the company announced the future publication of a renowned cancer center clinical study on the efficacy of CTT's pain management technology and in reaction to a very positive shareholders' meeting on Monday, April 19. Average daily trading volume has increased dramatically from a very modest 40,000 shares per day to over 800,000 shares in Wednesday's trading and an average of 225,000 daily this week.
Given the large trading volume recently and the size of the trades, it appears that institutions have become more involved with CTT. As of December 31, 2009, institutions held 12.1% of the shares outstanding, but I would not be surprised to see that percentage has risen significantly since that filing.
A colleague attended CCT's shareholder meeting in Stamford, CT (home of many hedge funds and money management firms) and provided a quick summary.
There were a few Chartered Financial Analysts (CFA) for money management firms or institutions in attendance. One CFA offered to my colleague that his investment firm had been accumulating CTT stock after meeting in Italy with the inventor of the technology. Interestingly, one attendee said she became a shareholder after she personally experienced the dramatic results from the use of CTT's chronic pain management system.
- At the American Society of Clinical Oncology (ASCO) conference in Chicago June 4-8., a respected palliative care physician from a Virginia Cancer Center will be presenting a study. ASCO has developed into being a very influential medical conference where medical professionals and the financial world keep abreast of bio-pharmaceuticals in development, clinical studies and emerging medical technologies. Last year, ASCO hosted over 27,000 doctors and investors. It would not be surprising to see CTT obtain a much higher level of awareness in both the medical community and the financial world after this presentation. Oftentimes, research analysts from boutique investment firms use ASCO to "discover" promising under-followed companies to add to their Research portfolio.
- CTT expects to get approved vendor status for sales to both the VA and DOD in the near future.
- The Virginia institution using CTT's Calmare pain management device successfully for the past month that wasn't named in the original news release a month ago is one of 500 clinics of US Oncology, Inc., one of the nation’s largest cancer treatment and research networks.
- CTT forecasts profitability before the end of 2010.
- The company's PR agency, RF Binder, was at the meeting and informed attendees that they were expecting to obtain national press coverage for CTT within the next few weeks.
- CTT's will be exhibiting at the BIO (Biotechnology Industry Organization) International Convention on May 3-6, 2010 in Chicago, IL. The BIO International Convention is the largest global event for the biotechnology industry and attracts the biggest names in biotech, offers key networking and partnering opportunities, and provides insights and inspiration on the major trends affecting the industry.
The event features keynotes and sessions from key policymakers, scientists, CEOs, and celebrities. The Convention also features the BIO Business Forum (One-on-One Partnering), hundreds of sessions covering biotech trends, policy issues and technological innovations, and the world's largest biotechnology exhibition
- CTT is conducting a presentation of the palliative care technology for the medical community on May 17th in Boston. Patient case studies using CTT's technology will be presented by renowned physicians and researchers in the pain management field:
Dr. Toby Campbell from University of Wisconsin (Very well-known, internationally recognized, pain management physician)
Dr. Salahadin Abdi of the Univ. of Miami is well respected in the pain management community. Formerly with The Harvard Medical School for 13 years.
Dr. Perry Rosenthal from Harvard Medical School (Inventor of the gas permeable contact lens)
- Stephen J. D'Amato, MD, FACEP - Medical Director of Calmar Pain Relief Therapy, Clinical Assistant Professor of Medicine, Boston University School of Medicine, and Medical Staff, Roger Williams Medical Center.
- Dr. Loprinzi from the prestigious Mayo Clinic is initiating a study using CTT's bio-electrical modality for chronic pain therapy.
- The presentation at ASCO will be the subject of a peer-reviewed article in an influential medical journal after the conference. The company will announce which publication and which issue in the near future.
- Competitive Technologies will be exhibiting at the International Association for the Study of Pain (IASP) , the leading professional forum for science, practice, and education in the field of pain, in Montréal, Canada, from August 29 to September 2, 201 0. The IASP is the world’s largest pain-related gathering. Plenary sessions, workshops, poster sessions, and refresher courses comprise the program, and attendees can receive continuing medical education credits.
And to top everything off, CTT informed attendees that an often forgotten joint venture with Xion Corporation is planning a Phase III study for both Sexual Dysfunction and Obesity.
In my opinion, CTT is in the middle of a transformation from being a relatively illiquid, unknown medical technology company into a company on the threshold of broadly introducing to the medical and financial communities a non-narcotic and non-invasive alternative to pain killers for chronic pain sufferers. Considering that the medical device is already FDA-approved, it could be reasonably expected that CTT will be realizing increasing revenues from sales as more medical professional interest develops over the next few months.
With only 11 million shares outstanding, a rising institutional following and, in my opinion, accumulation from more institutions, the prospects for a higher market valuation appear worthy of more due diligence from investors interested in emerging medical technology.
Disclosure: Author holds a long position in CTT