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DewDiligence

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DewDiligence

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Re: xrymd post# 46079

Sunday, 05/13/2007 12:41:18 AM

Sunday, May 13, 2007 12:41:18 AM

Post# of 251621
More color on ARTE 1Q07 sales:

Product revenue was $1.4M. I figure about half of this amount was initial stocking by injectors, which was encouraged to some degree by ARTE’s offering a free kit with each order of four paid kits. That leaves $700K of revenue for kits actually used in patient procedures during the quarter.

At an estimated ASP of $2,000 (taking into account free kits), there were approximately 350 patient procedures performed during the seven weeks of the quarter since the product launch on Feb 7, 2007. This comes to about 50 procedures per week.

The deeper I look at the numbers, the worse things look. Only 50 procedures per week for the entire U.S. market says to me that there simply isn’t any bona fide demand for ArteFill. I question whether there ever will be.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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