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Spectral Medical Inc T.EDT

Alternate Symbol(s):  EDTXF

Spectral Medical Inc. is a Canada-based late-stage theragnostic company advancing therapeutic options for sepsis and septic shock. The Company develops and commercializes a treatment for septic shock utilizing its Endotoxin Activity Assay (EAA) diagnostic and the Toraymyxin therapeutic (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s EAA. PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. It has pioneered the development of biochemical markers for the clinical syndrome known as septic shock. It is continuing its legacy business of manufacturing and selling certain proprietary reagents. It develops, produces and markets recombinant proteins, antibodies and calibrators. These materials are sold for use in research and development, as well as in products manufactured by other diagnostic companies.


TSX:EDT - Post by User

Comment by Accountprinceon Mar 10, 2023 11:04am
184 Views
Post# 35330631

RE:RE:RE:RE:Zero enrollment update

RE:RE:RE:RE:Zero enrollment updateHmmmmm...I expect you're aware that Baxter has set up KidneyCo and has a 12 to 18 month time frame to "butterfly" into two public companies.  Given reporting time frames they will gear towards end of 2023.  They feature the EAA and PMX in their KidneyCo presentation as a feature product and have committed to marketing it Day 1 after FDA approval.  Let's assume you're correct and we are still less than 90 patients at the end of 2023.  If we are still "Exceeding expectations" I would expect Baxter to make an offer to buy Spectral using KindeyCo public company paper.  They aren't going to wait for a 7 year or 8 year you are pushing.  End of story - Baxter buyout end of 2023 - big boys always get their way.

Management (Seto/Kellum) only have until end of 2023 to get FDA approval for PMX or they get zero on the huge PSU's.  If they continue to fail as you keep on saying their only option is to welcome a Baxter buyout through KidneyCo in 2023 or they will get nothing on their PSU's and/or options.

So long term failure...even with incapable management...is not going beyond the end of 2023 or so.  Right now I expect they are working on loading up on cheap options as their last kick at the can.  I'll leave it to MM to calculate the potential buyout amount from Baxter through KidneyCo in a less than 90 patient scenario or cross that finish line and get a higher buyout.
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