Corin Share Discussion Threads

[chopshs] 22/2/2007 20:29

Just found the FDA Panel questions for todays meeting on their web site.



I think these were posted yesterday and has caused the volatility. Today's fall happened whilst the FDA were making their presentation, so perhaps doesn't bode well. Hopefully just a coincidence.

Anyway, panel is due to vote in about an hour and I guess we'll know the answer in the morning.

[m.t.glass] 22/2/2007 09:05

Was taking for granted that it will shift sharply upwards or downwards ;o)

Like you say, some initial or prior twitchiness could knock out both stops, in which case the risk is a known double loss of tolerable size.

[bizkit] 22/2/2007 08:49

if you are asking will it go up or down once the result is known then yes... ;)

of course you always run the risk of the stops being closed out in normal trading fluctuations.

[m.t.glass] 22/2/2007 08:02

Is this one of those situations in which it is worth placing both an upbet and a downbet - with tight stops on both (or alternatively, just place two opposite or conditional limit orders)?

[kamitora] 22/2/2007 06:45

Corin weakened 25¾ to 294¾p on worries that a US advisory panel to be held today would not endorse its new Cormet hip-resurfacing system. Its pre-market approval application for the product will be discussed and voted upon by a Food & Drug Administration panel in Washington. However, Teather & Greenwood was more optimistic. It repeated its buy rating on Corin and said: "A positive outcome at the FDA panel meeting is by no means guaranteed, but we believe there is a good chance this may occur."

[gopher] 21/2/2007 21:07

It can be quite shrewd to take profits at this point in the story. If you invested at the right time you are protecting a good return when the market is already anticipating a positive outcome.

I doubt whether there is any more to it than that. The FDA panels votes are not rubber stamp jobs and the risk of the unexpected is always there.

[kamitora] 21/2/2007 16:12

Afraid not :-) It's either you get PMA or you don't. I suppose you could say that if they don't, the FDA might send them away to do something such as gather more clinical trial data, so it's not an outright rejection, but that's still a no in the short to medium term as far as the company and its share price is concerned.

[liquidkid] 21/2/2007 15:54

Oh, what about maybe? do the FDA do halves?

[liquidkid] 21/2/2007 15:51

I'm going to stick my neck out here, this looks like classic rumour mongering at play. Yeah and who's talking to who here? of the FDA staff - the cleaner or the tea lady?
With this string of the negative press it could the competition may be pulling a few strings to try and keep their monopoly. The risks here should be low - we're talking about hip repairs for old folks not some vyvnder drug that might kill people. The main problem with these things its training the surgeons to do it properly so the damn thing don't fall off.

[kamitora] 21/2/2007 08:56

M.T.Glass - I worked in the industry (one of the big orthopaedic companies) until a couple of years ago and was familiar with resurfaced hips which were about to start clinical trials at the time.

This type of surgery requires different procedures and as such there is a training issue with surgeons. This is a gross oversimplification but in my experience there are two basic types of surgeon - the older ones which are basically set in their ways and the younger newly qualified ones who tend to be ready to embrace new technologies. No surprise that there is some resistance from some surgeons who don't want to have to do things a different way. In their defence, bear in mind that the way they believe they do things and the products they use are based on 20-30 years of clinical research and experience and if they get good clinical results what's the incentive to change? Incidentally that's why there was such resistance in the US to hospitals trying to buy low-cost product and impose it on their surgeons a year-or-so ago - which resulted in some surgeons threatening to leave and set up on their own. Moral - they're rather attached to the specific products they use.

Another issue linked to this - I've known of surgeons who were great with one product, but if they used another... not so great results. What makes a great outcome? Surgeon+training+product.

While there isn't much clinical trial data to go on, and won't be for ten years, from my experience I'm pretty much convinced from what I've seen that resurfacing is the way forward for the bulk of these type of procedures. I don't understand this comment is about it being riskier for women over 65 - I'm really surprised by that, but I guess someone somewhere has some clinical data which highlights an issue.

If Cormet gets PMA from the FDA it puts them ahead of the majors and I'd be shocked if they were still independent a year from now. But, I don't know how far the majors are behind Corin these days because I'm a bit out of touch.

[m.t.glass] 08/2/2007 22:43

LONDON (SHARECAST) - Artificial joint manufacturer Corin Group nudged higher today after the company announced that its one of its products was due to be discussed by the FDA.

"Corin Group confirms that its Pre Market Approval application for Cormet, the group's metal on metal resurfacing hip, will be discussed and voted upon by an FDA Advisory Panel on 22 February 2007," it said in a statement.

[peantern] 25/1/2007 14:14

Looks as if my prediction the other day is bearing fruit. Nice to see at least one being right.

[peantern] 23/1/2007 14:13

Good to see Director buying shares. Looks if there is much more growth to come.

[m.t.glass] 04/1/2007 16:14

Artificial joint manufacturer Corin Group breathed a sigh of relief today as it received a date for the delayed FDA review of its new hip implant device.

Corin said the FDA has confirmed that an advisory panel hearing will review its pre-market approval application for Cormet, its metal on metal resurfacing hip device, on 22 February 2007.

Originally the group had expected to gain approval by the end of 2006 but announced in November that a panel hearing had been delayed. Corin said at the time that it expected the hearing before the end of the first quarter of 2007.

"We are very encouraged that we now have a firm date for the FDA Advisory Panel to review our submission for Cormet. The Panel hearing is a vital step towards securing FDA approval for this device to enter the substantial USA market," said chief executive Ian Paling

(Sharecast, 4 Jan)

[le mass du pap] 01/11/2006 14:30

But that's all it is....a delay. Were expecting approval and shipping by end of 2006 and now it will be by and of March 2007. So it's 3 months.....big deal. On top of 5 years or so it's nothing and once FDA approval(a formality) is sorted the USA is wide open. Market has over-reacted and I would hope punters will see the value at this bargain price.

[m.t.glass] 01/11/2006 14:06

Markets do not like being told of delays..

[explorer88] 21/10/2006 14:19

MTG

Thank you for your thoughts.

[m.t.glass] 21/10/2006 13:14

Hi explorer.
Afraid I am somewhat out of touch with the £10m stocks.

Most of my activity these days is in the £25m-£500m range - within which I quite like WNG (£50m), TAN (£100m), VLK (£120m), CART (£300m), SFR (£315m), HMY (£175m). Might also pencil in BNH(£33m), CHG (£515) and YOU (£95m) none of which meet your criteria I guess! The positions I hold at present range from companies sized £100m-£750m.

mtg

[explorer88] 21/10/2006 09:41

Hi M.T. Glass

We haven't spoken for a while ... was it the SRF thread where we met?

i'm looking to invest in three small market cap. stocks (preferably under £10m) which have the potential to increase their market cap. tenfold in three years. i've identified one company, and am looking for two more - do you have any suggestions?

exp88

[m.t.glass] 16/10/2006 10:01

Monday, 16th October 2006 08:51

UK smallcap opening - Corin ahead on Japanese agreement

LONDON (AFX) - Solid progress was seen in Corin Group, 13 pence ahead at 273, after the maker and supplier of orthopaedic devices signed a co-marketing agreement with Kobayashi Pharmaceutical.

Kobayashi, which is a major manufacturer and distributor of pharmaceutical and medical products and equipment based in Osaka, Japan, will distribute Corin's entire range of orthopaedic devices in this important market.

Bridgewell's Elizabeth Klein described the deal as good news, pointing out that one of her risk issues for the shares has now been removed. Nevertheless, the analyst is retaining her 'overweight' stance on the stock as there still remains US regulatory risk for the business.

Teather & Greenwood, however, advised clients to 'buy' Corin with a price target of 400 pence.

[e-mail]
--------------------------------------------------------------

See English version of Kobayashi website at

[foolamince] 27/9/2006 20:40

Worse numbers than I expected, with inventories up 20% (13002 v 10896)
suppliers strung out (4847 3615) it will be a tough old run to the end of the year. FDA approval for cormet before january might allow them to ship some stock, in the meantime I see this dropping by another 25% next month as everyone bails out.
How does the ceo deserve entrepreneur award for this performance?