|Nephros shares continue to rise ahead of FDA decisions|
|Friday, 21 August 2009 03:00|
Nephros Inc. (OTC:NEPH), the medical device company that engages in the development of hemodiafiltration (HDF) products and technologies for treating patients with end stage renal disease, has two more devices awaiting regulatory clearance from the FDA: The OLpur MD220 filter and OLpur H2H Hemodiafiltration module.
The OLpur MD220 is a filter designed expressly for hemodiafiltration therapy that employs Nephros's proprietary Mid-Dilution Diafiltration technology. The OLpur H2H Hemodiafiltration module enables the most common types of dialysis machines to be used for hemodiafiltration therapy.
Nephros's OLpur MD220 diafilters are already approved in the European Union.
Shares have gone from $.010 in May to $2.53 as of market close on Wednesday- which is actually not an unusual growth pattern seen by many biomedical penny stocks prior to FDA decisions. Subscribers who track these stocks using BioMedReports' exclusive FDA Calendar have taken advantage of these types of exponential price gains time and again. They also note that NEPH's devices are category I - II devices and historically speaking, devices in those categories have a much higher chance of approval, compared to implant devices in category III.
The company also develops Dual Stage Ultrafilter water filtration system. According to the company, these filters are very useful in filtering biological contaminants from water and bicarbonate concentrate used in hemodialysis procedures because microbial and endotoxin contamination of the water and dialysate concentrate used to prepare dialysate is an ongoing concern in dialysis clinics.
It markets its products primarily to healthcare providers, such as hospitals, dialysis clinics, managed care organizations, and nephrology physician groups.
The company recently announced financial results for the three month period ended June 30, 2009.
For the quarter ended June 30, 2009, Nephros reported revenues of approximately $527,000 compared to approximately $253,000 for the three months ended June 30, 2008. Total revenues increased approximately $274,000 during the three months ended June 30, 2009 over the same period in 2008. In addition, unit sales in Europe were slightly lower in the three months ended June 30, 2009 compared to the same period in 2008 but were not the result of decreased customer orders, but rather due to production delays resulting in deferment of shipments. Nephros reportds zero debt and $1.65 million in cash on its balance sheet.
Nephros was founded in 1997 and is headquartered in River Edge, New Jersey.
Disclosure: No Positions