Oculus CEO reaffirms plans for new markets and greater profits (Nasdaq: OCLS) Print
By Peter Depalma   
Thursday, 20 August 2009 03:00
As the good news and profits keep pouring in, one Wall Street bio-tech "expert" still doesn't seem to get it.

The Street.Com's Adam Feuerstein continues continues to vilify Oculus Innovative Sciences and insists on erroneously identifying  the company's Microcyn® Technology platform as "diluted bleach."

It's a surprising development considering the attention and uproar that followed Feuerstein two months ago, after Oculus CEO, Hoji Alimi tried to educate the biotech reporter about the difference between diluted bleach and the company's FDA approved wound treatment technology.



Microcyn® is a proprietary solution of  oychlorine compounds that interact with and inactivate surface proteins of cell walls and membranes of microorganisms and viruses.

Microcyn’s uniquely engineered chemistry, shown to the right, includes free available chlorine particles such as the potent antimicrobial agent Hypochlorous Acid (HOCl) as well as other compounds which augment the beneficial processes of the product. The Company’s patented manufacturing process also assists in producing the right amount and availability of active ingredients, yet the resulting solution remains nonirritating
to human tissues because human cells have unique protective and interlocking mechanisms. Once Microcyn surrounds single cell organisms, the compound damages these proteins, causing the cell membrane to rupture leading to cell death. Experiments have demonstrated that Microcyn kills bleach-resistant bacteria, thus Microcyn’s mechanism of action appears fundamentally different from the process which occurs as a result of contact with a bleach-based solution.




08/20/09 - Oculus Innovative launches Microcyn skin & wound cleanser with preservatives in US | PharmaBiz

“This is becoming a patient safety issue and putting public safety at risk,” Alimi told BioMedReports in an exclusive interview on June 29, 2009. “It’s no longer [about] attacking a company and the market potential and market cap. You’re damaging public safety.”

Alimi said he crafted a letter to CNBC's Jim Cramer, co-founder of the TheStreet.com, expressing his concern that the report had fallen short in reporting the true science behind the technology.

“When you haven’t done your due diligence and you don’t understand the basic chemistry of our product [and] you are putting patients’ safety at risk,” insisted Alimi. “There has to be a level of integrity in the research written and I think that’s really lacking in their case.” His comments set investor forums and message boards ablaze with discussion.

In addition to calumniating Oculus, Feuerstein has now resorted to mocking the company's investors.  Investors who not only believe that the technology works, but are also poised to support Oculus as it becomes something of a rare species- a profitable, publicly traded biotech company.

"This is a company trading on the highly policed NASDAQ exchange and they have to be accountable to not only their share holders, but to their patients and federal laws," says BiomedReports' co-editor M.E. Garza. "The CEO and experts outside the company continue to go on record about the safety, efficacy, new market opportunities and financial balance sheets. This isn't some shady, OTC company that operates without accountability. They are speaking directly to their investors every time they issue a press release or go on record publicly.  If they are caught lying or attempting to manipulate the stock price the punishment can be extremely serious. Furthermore, if we're going to cover a company we feel completely accountable to our readers and subscribers. How people invest their money is a very serious matter and we have a great responsibility to actually pick up the phone, speak to experts, leaders at those companies and even sources who are familiar with the industry we cover."

Regardless of those facts, TheStreet.com continues to publish misleading claims that are more than implied to be factual- perhaps even libelous.

"We don't recieve compensation from the companies we write about and fully disclose any information about our positions as required by law," states Garza. "Our writers have even been known to tip their hat to Mr. Feuerstein when we feel he's right about a company's medical products.  It's about reporting the facts and that's not personal, at least it shouldn't be. Personal feelings and opinions are what often get reporters in trouble and have certainly become a serious issue with publications that cover this sector. It causes investors to get confused when more often than not, those opinions are mistaken for facts. We all understand that controversy sells and gets attention, but the truth shouldn't be lost there, especially if you're reporting about people's investment decisions."

Feuerstein, it appears, has little interest in being objective or actually reporting news, however.  In his latest rant, he makes his intentions and game plan perfectly clear: "The reason I "bash" drug stocks is because drug development is hard and ends in failure way more often than success," writes Feuerstein. "I assume people invest in drug and biotech stocks to make money. If that's true, then a heaping dose of skepticism is not only warranted, it's absolutely essential. When there's something positive to say, I'll be the first to say it."

Speaking of a heaping dose of skepticism, when was the last time anyone actually made money listening to Feuerstein, anyway? Did his clients make money when he tried his hand as a hedge-fund manager?

The fact is, despite Mr. Feuerstein's efforts, Alimi’s breakthrough Microcyn® Technology continues to thrive and has been gaining the attention of Wall Street, the national media as well as doctors and hospitals due to its rapid kill anti-microbial properties. Even as he bashed Oculus, the FDA granted the company an expanded 510(k) label clearance for their product and according to the company's CEO, new marketing efforts and partnerships in the U.S. and China, will help them expand the customer base, thus growing profits significantly.

The way informed investors see it, thousands of doctors and their patients would probably not be adopting Microcyn® products as their standard of care for treating various maladies including wounds, diabetic foot ulcers, and burns if it were just "diluted bleach." 

As one industry insider put it, "Who is better at evaluating the technology? Doctors with years of medical training, the Food and Drug Administration, or a creative writer with a bachelors degree in political science? I'd go with the medical community every time. Especially since over a million patients have been treated worldwide without report of a single adverse effect."

Shares of OCLS traded down after Feuerstein's comments on Wednesday, but for his part, Occulus CEO, Hoji Alimi's stands by his company's claims and continues to talk with great confidence about profit projections and even more upcoming FDA nods.

An excerpt from a candid phone call intervew which took place Tuesday afternoon, after the company announced plans to begin marketing Microcyn® products in the U.S., can be heard below:

BioMedReports.com - Reporter’s inaccurate articles are becoming patient safety issue claims biomedical company CEO

 

Disclosure: No Positions.
BioMedReports was not compensated in any form or fashion, much less given any incentives by Oculus or anyone else to write this article.




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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