Lombard Medical Technologies Share Discussion Threads

[philo124] 05/9/2013 06:44

577p target with 5% penetration; 256p with 25%. Whatever that means.

[orange1] 05/9/2013 06:34

Callum

Your link doesn't work!

[callumross] 04/9/2013 23:22

Copy of the research report below:

[callumross] 04/9/2013 16:22

FLASH: Canaccord Genuity reiterates buy on Lombard Medical Technologies, target raised from 243p to 256p

[skinny] 04/9/2013 10:51

Canaccord Genuity Buy 163.50 161.50 243.00 256.00 Reiterates

[baa] 03/9/2013 14:08

not so shorewalk

for one , the cost of running LMT must be well into the £6-£8m range now with the US salesforce.

revenue per procedure may be over £5500 , but the gross margin is only 32% , say 35% assuming manufacturing efficiency.

You therefore need well over 3500 patients pa , compared with maybe 300pa now.

To justify the mkt cap , you actually need twice that number!

hard to see the share price going anywhere fast without evidence that is do-able.

[shorewalk] 30/8/2013 12:12

Could be reading it wrong, but my simple calculation indicates we need 300 US patients per half year to add to 195 Europe for break even. Doesn't seem that big an ask given the size of the market

[skinny] 29/8/2013 07:06

Operational highlights
· US FDA approval of Aorfix™ for the endovascular repair of AAAs (Abdominal Aortic Aneurysms)
o Only endovascular stent graft approved in US for use in cases with neck angulations up to 90 degrees
o Unique 0-90 degree label indication enabling treatment of broadest range of AAA anatomies
o Compelling case for use over competing products supported by extensive body of clinical evidence
o One of only nine PMAs (pre-market approvals) granted by the FDA in H1 2013
· Aorflex™ next generation delivery system approved by the FDA in June for commercial use in the US
· Aorfix US commercial launch underway, formal launch event at VEITH Symposium, November 2013
o Initial commercial cases successfully completed
o Direct sales team of 20 people recruited and product training completed
o Physician training programme commenced
· Approval for Aorfix in Japan on track, approval anticipated in H1 2014

Financial highlights
· Total revenue increased 2%, in line with expectations, to £2.0m (H1 2012: £2.0m)
· Aorfix commercial revenue increased 8% to £1.7m (H1 2012: £1.6m)
o Revenue increased 6% in the four main EU markets (UK, Germany, Italy and Spain) to £1.1m (H1 2012: £1.0m)
o Revenue in Germany increased by 47% offsetting the effect of continued EVAR centre consolidation in the UK
o Revenue outside the main EU markets increased 9% to £0.6m (H1 2012: £0.5m)
· Significant increase in demand for Aorfix in Germany and Spain offsetting decline in demand for Aorfix in UK which is expected to stabilise in H2 2013
o Combined demand for Aorfix over the four main EU markets steady with 194 patients treated (H1 2012: 195)
· Operating loss increased by 11% to £4.8m (H1 2012: £4.4m)
· Loss after taxation increased by 14% to £4.9m (H1 2012: £4.4m)
· Financing
o Aorfix US approval triggered receipt £13.5m (net of expenses) of the c.£14.1m Second Tranche of the two tranche April 2011 fundraising as well as the Company's ability to draw down $2.5m from the $5.0m loan facility granted by its exclusive Japanese distribution partner, Medico's Hirata Inc.
o £20.9m (net of expenses) raised from a placing, subscription and offer of shares in June
o £3.0m Convertible Loan Notes issued to Invesco in 2012 were converted into new Ordinary Shares
· Strong cash position - £34.3m as at 30 June 2013 (30 June 2012: £5.2m)

Post period events
· Appointment of Raymond W. Cohen as Non-executive Chairman in July

[nod] 27/8/2013 07:59

News at last!Three US patients isn't go to make us wealthy but it's a start.Interims on Thursday. Interesting that LMT released this update today with the interims only a few days away. Is there a reason? Perhaps the interim documents were already approved and then extra info came in.Fingers crossed that Thursday does not disappoint.

[skinny] 27/8/2013 07:13

First U.S. patients treated with Aorfix

London, UK and Irvine, CA, August 27 2013 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focused on innovative vascular products, today announces that the first U.S. patients have been successfully treated with Aorfix™, the Group's flexible stent graft for the endovascular repair of abdominal aortic aneurysms (AAAs).

Aorfix was approved by the FDA for commercial sale in the U.S. in February 2013. The approval included a label indication for the treatment of patients with angulations at the neck of the aneurysm from 0 to 90 degrees. Moreover, Aorfix is the only endovascular stent graft with approved labeling for use in more challenging cases with neck angulations greater than 60 degrees.

The first U.S. cases using Aorfix included patients with aortic neck angles significantly greater than 60 degrees that would have previously required more invasive open surgical AAA repair or "off label" use of an alternative device not designed to treat patients with this level of tortuosity in the aorta. The patients were treated by Victor J. Weiss, M.D., a vascular surgeon at Meriter Hospital in Madison, WI and Sachinder Hans, M.D. of Henry Ford Hospital in Detroit, respectively. Kim Hodgson, M.D. of Southern Illinois University School of Medicine, Division of Vascular Surgery, Springfield, Illinois, also reported a further case where the patient was successfully treated using Aorfix. All patients are doing well following the procedures.

[shorewalk] 22/8/2013 17:02

Only a week before results - hopefully with a positive update. MM's may play a little before and I feel the price has been held down so new Chairman can get his options before we move upwards. IMHO

[nod] 17/8/2013 02:26

Old news from last month that popped up on my alerts today. Old but worth a reminder of the targets set by Cannaccord 243p and Panmure 321p only a month ago.Lombard Medical Technologies PLC (LON: LMT)'s stock had its "buy" rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued on Monday, ARN reports. They currently have a GBX 243 ($3.67) price objective on the stock. Canaccord Genuity's target price points to a potential upside of 38.86% from the company's current price.Separately, analysts at Panmure Gordon reiterated a "buy" rating on shares of Lombard Medical Technologies PLC in a research note to investors on Tuesday, May 7th. They now have a GBX 321 ($4.85) price target on the stock.http://www.watchlistnews.com/2013/07/16/lombard-medical-technologies-plc-receives-buy-rating-from-canaccord-genuity-lmt/

[skinny] 22/7/2013 07:02

London, UK, 22 July 2013 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, will announce its interim results for the six months ended 30 June 2013 on Thursday 29 August 2013.

[stable] 16/7/2013 14:19

Nod, just to add, last week market was dropping if sale was for 500 shares , yesterday and today firmer look(may be only temporary) but 6000 sold this am and still 2 buyers at price.

[stable] 16/7/2013 08:51

Nod.I do think that uk sales must have been affected by a consolidtion of the evar centres as this would give fewer'buyers' although each would be potentialy bigger.You will still have the need as the same number of people would be needing the op, but the money needed may well be under stronger control and if a cheaper option is available it may well be chosen.

[nod] 16/7/2013 02:12

Results steady but not overwhelming.What did this bit mean "countering the effect of continued EVAR centre consolidation in the UK."Does this mean they are losing sales in the UK?

[skinny] 15/7/2013 11:25

Canaccord Genuity Buy 168.50 167.50 243.00 243.00 Reiterates

[skinny] 15/7/2013 07:03

London, UK, 15 July 2013 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, providesthe following update for the six months ended 30 June 2013, ahead of the planned announcement of its Interim Results on 29 August 2013.

Trading in the first six months has been in line with expectations, delivering total revenue of £2.0m. AorfixTM commercial revenue grew 8% with revenue from the main EU markets growing 6% and revenue from the Rest of World markets growing 9%. In Europe, revenue and demand were strong in Germany and Spain, countering the effect of continued EVAR centre consolidation in the UK.

The Company's US launch plans are progressing according to plan. Fifteen new sales representatives and two regional sales managers have been recruited as planned and, in June, the new team attended and successfully completed the in-depth training programme about the use of AorfixTM and the EVAR procedure. The sales team is now focussed on increasing US physician knowledge of AorfixTM and organising their participation in physician training programmes, which will commence at various US venues in August.

As previously announced on 21 June 2013, FDA approval of the next generation AorflexTM delivery system was received. The Company expects to launch AorfixTM commercially in the US in late Q3 2013 and to hold a coordinated launch event at the VEITH symposium in New York City in November 2013.

The Company closed the period with cash of £34.3m following the successful placing, subscription and offer of shares, completed in June 2013 that raised £20.9m net of expenses.

Simon Hubbert, CEO of Lombard Medical Technologies said:
"This trading update highlights the strong position of the Company, both operationally and financially, ahead of the US launch of AorfixTM, our uniquely differentiated stent graft for the endovascular repair of abdominal aortic aneurysms. We are looking forward to building relationships with US physicians and providing them with a product approved to address a high unmet clinical need. In our main EU markets and also in the Rest of the World we have made good progress to date and anticipate additional growth in AorfixTM sales in future periods."

-Ends-

[nod] 13/7/2013 00:05

With almost no trading this past 2.5 weeks we have drifted back to the support level established 6-8 months ago. It's important we don't fall significantly below this level. A little bit of good news would help enormously.

[nod] 10/7/2013 09:06

That looks a very promising appointment from a shareholder view. I did a quick check on the Chairman's current and previous roles and we have plenty of mergers and acquisitions in there. Between the CEO and the Chairman I'm certain a takeover is on the cards - before we get too old to benefit. Where we may lose out: if there is a merger with a US firm and we end up with some obscure stock. Hopefully the major shareholders can prevent that.

[skinny] 10/7/2013 07:13

LOMBARD MEDICAL APPOINTS RAYMOND W. COHEN AS CHAIRMAN


London, UK, 10 July 2013 - Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, is pleased to announce the appointment of Raymond Wayne Cohen as Non-executive Chairman, with immediate effect.

Mr. Cohen, a US national and aged 54, has extensive international medical device experience having held several Chairman and CEO positions on the boards of both publicly listed and private life sciences companies in the US and Europe. He is currently Non-executive Chairman of Jenavalve Technology, Inc., a Munich-based developer, manufacturer and marketer of transcatheter aortic valve systems; Non-executive Chairman of Syncroness, Inc., a contract engineering firm; a Non-executive Director of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), a developer and marketer of oncology and haematology drugs; a Non-executive Director of BioLife Solutions, Inc. (OTC:BLFS), a manufacturer of biopreservation media for human cells; and a Non-executive Director of LoneStar Heart, Inc., a developer of biomaterials for the treatment of congestive heart failure.

From mid-2010 to late 2012, Mr. Cohen served as Chief Executive Officer of Vessix Vascular, Inc., a developer of a novel percutaneous radiofrequency balloon catheter renal denervation system used to treat uncontrolled hypertension. In November 2012, during his tenure as CEO, the company was acquired by Boston Scientific Corporation (NYSE:BSX) in a structured transaction valued at up to $425 million.

As announced in April, John Rush decided to step down as Non-executive Chairman following the achievement of FDA approval for Aorfix™ in the United States. John Rush remains an active and committed member of the Board as a Non-executive Director.

[nod] 21/6/2013 20:37

Such as Medtronic which is where our CEO used to work.Back on 22 march Canaccord had a target price of 325pToday saw Largest daily volume in three months.

[nod] 21/6/2013 20:29

MC - I'm sure they will be selling now. Remember there are already a number of surgeons and patients in the US using the product.I suppose November is a big marketing campaign. I would have thought LMT would need to team up with a large medical device supplier to get exposure.

[munkychunky] 21/6/2013 15:02

Invesco holding more though now I see.

The US launch still frustratingly 5-6 months off. I suppose it will give them ample time to inform people about the product before the launch - at least I'm guessing thats what they would be doing behind the scenes... Why they are not selling in the interim - I don't know... I would have thought it best to get the product into the market as soon as possible - but I have no patience! :)