RITA Medical Systems develops (RITA), manufactures and markets innovative products for cancer patients including radiofrequency ablation (RFA) systems for treating cancerous tumors as well as percutaneous vascular and spinal access systems. The Company's oncology product lines include implantable ports, some of which feature its proprietary Vortex(R) technology; tunneled central venous catheters; safety infusion sets and peripherally inserted central catheters used primarily in cancer treatment protocols. The proprietary RITA system uses radiofrequency energy to heat tissue to a high enough temperature to ablate it or cause cell death. In March 2000, RITA became the first RFA Company to receive specific FDA clearance for unresectable liver lesions in addition to its previous general FDA clearance for the ablation of soft tissue. In October 2002, RITA again became the first company to receive specific FDA clearance, this time, for the palliation of pain associated with metastatic lesions involving bone. The RITA Medical Systems website is at www.ritamedical.com.
Here's the all history chart, where we can see $2.5 is a strong support for the stock:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=2804;image)
And the medium term chart where we have a bullish breakout:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=2806;image)
The trend now is bullish on RITA and volume confirms the price action. Results will be released on August 9. I don't see any news attached to the move, which is a good thing, probably those positive news will come out in the near future ;)
There were some reports on CNBC about very strong insider buying on RITA's shares. I bet earnings will be a positive surprise.
I've decided to buy RITA at the open for the 3 Stocks on Fire Portfolio.
3 Stocks on Fire Community take on RITA (http://www.3stocksonfire.org/trading/index.php?action=search2&search=RITA)
This analysis is part of Top 5 Stocks for Tuesday (http://www.3stocksonfire.org/trading/index.php?topic=1821.0), conducted by David Randolph from 3 Stocks on Fire. He's looking for interesting charts and after DD he might consider this stock to be bought for the 3 Stocks on Fire Portfolio. David Randolph is managing a public and diversified portfolio which is up 144% since May 2005 (http://www.3stocksonfire.org/closed_trades.php).
www.3stocksonfire.org is a traders and investors new Community growing everyday, with 2368 registered users in just about 2 months. We exchange great trading strategies and stock picks everyday on our boards. If you want to join our Community and receive a free newsletter, please register (http://www.3stocksonfire.org/trading/index.php?action=register).
isn't that last candle a nasty 'hangman' ? ???
Nah, just a nice white with a lower shadow that touched the 9ema
Nope, check the short term chart nikao:
Quote from: David Randolph on July 26, 2005, 09:19:22 AM
Nope, check the short term chart nikao:
ah sorry.. it looked like a black candle on the other chart ;)
(bad experience with that on ADST ;) )
Looks like a great find. Especially like the support level - looks like its been well tested. Here's some additional technical flavor for RITA:
http://www.trade-ideas.com/StockInfo/RITA/RITA_MED_SYS_INC_DEL.html
Good volatility too
Great pick! Bought at 4.04.
This is probably the fastet fundamental analysis I have done yet (4 minuttes and 30 seconds (http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=2799;image) )
Insider interest looks good:
http://yahoo.smartmoney.com/eqsnaps/index.cfm?story=insiders&symbol=RITA
RITA is so beautiful I'm not willing to let her go ... not before she ages until $6 plus ;D
Not a good day today.
Making a come back.
RITA may pullback or rest a bit now, but the medium term target and resistance level only comes at values above $6, so I'll continue to hold this stock for the foreseeable future.
Here are the short and long term annotated charts:
RITA Medical Launches New Vortex EZ and Vortex EZ MAX Port System
Thursday July 28, 8:55 am ET
New Products Include Key Functionality Required by Interventional Radiologists, Surgeons and Oncologists
FREMONT, Calif.--(BUSINESS WIRE)--July 28, 2005--RITA Medical Systems, Inc. (Nasdaq:RITA - News) today announced the introduction of the Vortex® EZ(TM) and Vortex EZ MAX(TM) infusion ports designed for maximum patient comfort and clinical ease-of-use. The new plastic ports are part of the Vortex EZ Port Infusion System which has been approved by the U.S. Food and Drug Administration (FDA) for use on any patient requiring repeated access of the vascular system or other selected body sites.
Vortex EZ and Vortex EZ MAX expand the RITA Medical Systems Vortex product family, and are part of the only port system in the industry to use the Company's patented rounded chamber design and off-set stem clinically proven to promote more efficient infusion and aspiration flow dynamics resulting in fewer patient complications. The Vortex EZ and Vortex EZ MAX are magnetic resonance imaging (MRI) compatible with a "suture anywhere" silicone construction base designed to make implantation easier, and incorporate a low profile shape designed to improve patient comfort.
Joseph DeVivo, President and CEO of RITA Medical, commented, "Our new Vortex EZ family of ports, which offer the same proven clinical benefits as our titanium ports, position us to further extend our market share by allowing us to offer premium products at competitive prices." Mr. DeVivo continued, "The EZ and EZ MAX were created to meet clinicians' needs for ports with low profile designs for improved patient comfort, suture anywhere bases to make implantation easier, and prices that are comparable to other competing products. The introductions of Vortex EZ and EZ MAX demonstrate our commitment to growing our market share by providing our sales force with products that can help them to expand our relationships with new and existing customers."
The new Vortex EZ and Vortex EZ MAX products have convenient depth markings on the entire catheter length to promote more accurate catheter placement. The EZ MAX port uses the FluoroMax high-radiopacity catheter and tip for better imaging during port placement. Both products are available with complete placement kits and safety infusion sets.
The Vortex EZ Port Access System is indicated for any patient requiring repeated access of the vascular system or other selected body site for the delivery of medications, nutritional supplementation, fluids, blood, blood products, and sampling of blood. The Company's ports are routinely used in the treatment of cancer patients who require multiple infusions of chemotherapy agents over weeks or months. Vortex EZ and EZ MAX are now available in the United States.
I was about to post the news heh, this should drive up the price.
Thanks for posting the news la-onda (Igaryok will receive an applause too :)), RITA is holding amazingly well near the highs, it's just a matter of time (short, I believe), for RITA to continue shooting higher.
As David rightly has pointed out the present run of RITA is due to expectations that revenue and earnings will exceed expectations. This has been fueled by insider activity.
With earnings around the corner it might be worthwhile to see what the expectations are:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=3087;image)
As you can see the analysts expectations to Revenue are quite conservative whereas the earning expectations are a bit more aggressive. I am personally convinced that they will beat the revenue forecast. They have taken several mesures to cut cost. I do however only expect them to meet or slightly exceed the EPS forecast. Anything more than that would be great.
You should however expect a significant increase in earnings in Q3 (IMHO) and I am sure that we will also get some guidance in the CC.
RITA is a typical turn around story they have generated huge losses since their IPO but it finally seems that they are turning profitable. The future really seems bright. They have several patents for equipment which significantly extend the life of cancer patients.
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=3088;image)
Whereas most Biotech companies are software oriented (read drugs) RITA is hardware oriented (read equipment). You could actually say that they are a real biotech company (http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=3075;image)
Good post mike, applaud. Whens the earning?
Great info and research Michael, thanks a lot !
RITA is making a little consolidation pattern before the uptrend resumes. Confortably holding RITA on technicals and fundamentals.
The earnings come out on Aug. 9. I believe Dave included that in his first post, but i read over it the first time. You can catch the confrence call here: http://phx.corporate-ir.net/phoenix.zhtml?c=121817&p=irol-IRHome
thx crazy, applaud.
Bulls take the stock a lot higher on the short term, and finally we get some profit taking or whatever. Bears are working for 4 consecutive days now, and they couldn't even break the last bullish white candle.
Clearly they have not enough selling power behind them. Clearly the uptrend will resume shortly.
5 days of profit taking and that didn't took even the last white candle of the bullish move. I'm waiting for a big white marubozu, anytime, that takes out these 5 small red candles at once.
Volume is low, no news on RITA, I'll continue holding the stock.
hmm she sure broke out of the range of that white candle.. but unfortunately the wrong way :-[ ??? :-\
what's up with our girl?
I don't know nikao, this move really surprised me too :-\
What to do in a situation like this?
Look for the motivation you had to buy the stock. Is it still valid? Design a simple trading plan and follow it !
My motivation to buy RITA was the trend was bullish and the first resistance only comes above $6. The trend is still bullish, so I should hold the stock ...
Probably, considering not a very high volume for the magnitude of the move, people are squaring up positions before the earnings release. Anyway, my simple trading plan has some risk, but it is the right one I believe. The ascending trendline comes only at $3.18 for today, I'll hold as long as the stock closes above that trendline.
The magnitude of the pullback will tell us if the the previous rise was fundammentally backed or not (I believe it was).
Usually a positive reaction at the 50% Fibonacci retracement level is a bullish sign. But the 50% retracement level comes only at $3.37, so it is possible we have some more downside to go.
Unfortunately it's very hard to know if and when a stock will make a pullback, one just has to follow the trend, and the medium term trend is bullish on RITA.
I agree David. I think i will have to add on monday due to pull back. Have you noticed that most of the pull backs lately have been just enough to make you think to let go of the stock?? Like someone is testing your pain level ;)
Any way i have added this to back up the reason i would buy on monday enjoy they are not scared are they >:D
Date Name Transaction Num Shares Price(s) Value
06/13/05 DEVIVO JOSEPH Purchased 10,000 $2.86 28,600.00
06/10/05 UECKER DARRIN Purchased 3,500 $2.85 9,975.00
06/08/05 BUCCI VINCENT Purchased 10,000 $2.85 28,500.00
06/07/05 BUCCI VINCENT Purchased 15,000 $3.05 45,750.00
06/06/05 BUCCI VINCENT Purchased 10,000 $2.94 29,400.00
06/06/05 JOHNSON WESLEY E JR Purchased 5,000 $2.83 14,150.00
06/03/05 BUCCI VINCENT Purchased 10,000 $2.82 28,200.00
06/02/05 BUCCI VINCENT Purchased 12,000 $2.65 31,800.00
06/01/05 BUCCI VINCENT Purchased 20,000 $2.70 53,900.00
05/31/05 DEVIVO JOSEPH* Purchased 20,000 $2.68 53,650.00
05/31/05 BUCCI VINCENT* Purchased 20,000 $2.71 54,200.00
02/23/05 TUCKER ROBERT D Sold 28,154 $3.30 92,908.20
12/03/04 FALK MICHAEL S Sold 498,697 $4.21 2.10 Mil
09/29/04 FALK MICHAEL S Sold 30,000 $3.75 112,431.00
09/23/04 FALK MICHAEL S Sold 10,400 $3.55 36,920.00
08/19/04 FALK MICHAEL S Sold 20,000 $3.10 62,000.00
* This filing is an amendment to a previous filing.
Insider filings are updated daily and are based on forms filed monthly with the SEC.
If you want to make a double on this stock, the best buy point shoulld be at $2.50-$2.6 level.
Look at the chart since 2001, whenever it fells to $2.50, it bounced back and reversed.
In 2001, it bounced to $5.00 (100%), 2002 bounced back to $10 (400%), 2004 bounced back to $7.00 (275%), then to $4.75. 2005 to $4.10. So, the bounce back is weaker and weaker.
No reason to keep this stock I believe.
Thanks for your posts on RITA, some good info :)
The stock is coming down hard to test some support levels. My maximum pain level is the blue ascending trendline. A close below that and I'll die for this stock.
The trendline tomorrow will come only at $3.2 so I'm prepared to take another 10% punch, it doesn't matter. What matters is that I hold a stock with a bullish trend, and that usually pays in the end.
I can't sell to buy lower because that could make me lose my position, and I don't want to take that risk. I must sell only when the foundations for the buy move are no longer valid.
still holding on on this one. Learned the don't sell without a 'real' reason lesson the hard way last week. Sold GTCB at 1,78 (to buy it back lower) but 2 days later it spiked and probably will never return.. it's now somewhere around 2,3 :(
So I'm also holding on to Rita as long as it holds the ascending support.. (hope this one will spike as well, and this time I will be in! ;) )
Press release just came out:
RITA Medical Systems Raises Approximately $9.7 Million in Private Placement of Senior Convertible Notes
Monday August 8, 6:30 am ET
FREMONT, Calif., Aug. 8 /PRNewswire-FirstCall/ -- RITA Medical Systems, Inc. (Nasdaq: RITA - News) today announced that it has entered into a definitive agreement with one of the Company's largest institutional investors for a $9.7 million private placement of senior convertible notes (the "Notes"). The Notes are subordinated to certain other debt of the Company and convertible into shares of the Company's common stock. The Notes have a three year term and accrue interest at 6.5% per annum, payable semi-annually. The Notes are convertible at any time at the option of the holder at an initial conversion price of $4.03 per share (subject to adjustment in certain circumstances) which represents an 17% premium to the 30 day average closing price ending on August 5, 2005.
ADVERTISEMENT
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"The restructuring of our outstanding debt is an important milestone in the execution of our long-term strategy," said Joseph DeVivo, President and CEO of RITA Medical Systems. "The new debt structure can be subordinated to a working capital line of credit up to $10 million that we believe we will be successful in negotiating. We expect this working line of capital to provide us with a greater level of financial flexibility to pursue our goals. In addition, this significant reduction to our annual interest payments, based upon our current share count, would be accretive to our earning per share by approximately one and one-half cents annually."
Net proceeds of approximately $9.7 million received from the Notes will be used to prepay an aggregate of $9.7 million of the Company's outstanding indebtedness within 21 days. Based upon the new financing's interest rate, the Company expects to pay approximately $0.6 million in annual interest compared with approximately $1.2 million under its previous financing structure. The blended average interest rate of the Company's existing debt that is to be retired is approximately 12.9%. The total debt being retired is comprised of approximately $4 million and $4.3 million in senior subordinated convertible notes held by Medtronic, Inc. and ComVest Venture Partners L.P., respectively, with 14% semi-annual interest payments and a $1.4 million junior subordinated promissory note, with a 6% semi-annual interest payment.
The securities sold in this private placement have not yet been registered under the Securities Act of 1933 and may not be offered or sold in the United States in absence of an effective registration statement or exemption for registration requirements. The Company expects to file a registration statement of Form S-3 with 30 days subsequent to the closing of the transaction for purposes of registering the resale of the shares of common stock to be issued upon exercise of the notes.
This notice does not constitute and offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
About RITA Medical Systems, Inc.
RITA Medical Systems develops, manufactures and markets innovative products for cancer patients including radiofrequency ablation (RFA) systems for treating cancerous tumors as well as percutaneous vascular and spinal access systems. The Company's oncology product lines include implantable ports, some of which feature its proprietary Vortex® technology; tunneled central venous catheters; safety infusion sets and peripherally inserted central catheters used primarily in cancer treatment protocols. The proprietary RITA system uses radiofrequency energy to heat tissue to a high enough temperature to ablate it or cause cell death. In March 2000, RITA became the first RFA Company to receive specific FDA clearance for unresectable liver lesions in addition to its previous general FDA clearance for the ablation of soft tissue. In October 2002, RITA again became the first company to receive specific FDA clearance, this time, for the palliation of pain associated with metastatic lesions involving bone. The RITA Medical Systems website is at www.ritamedical.com.
The statements in this news release related to the Company's ability to negotiate and obtain a working capital line, the impact of the retirement of certain of the Company's existing debt on the Company's future financial performance and the Company's future financial and operating performance are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Information regarding these risks is included in the Company's filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: RITA Medical Systems, Inc.
Looks like dilution, which will not be taken as good news by the market.
Well it is dilution at a premium of 15% compared to the close on Friday. The market should like that. At the same time the interest cost is going down.
the 50MA is crossing the 200MA .. bullish signal!
What is the consensus on earnings tomorrow?
Thanks
Earnings will be out today before the open. Expectations are for 0 in earnings, compared with a loss of 11 cents per share a year ago.
I will hold the stock if it closes above $3.21, which is the ascending support trendline.
I think Michael is right in his analysis on these news: RITA Medical Systems Raises Approximately $9.7 Million in Private Placement of Senior Convertible Notes (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=184692&guid=%7B2143C3F3%2D74A4%2D4E29%2D807F%2D453ADD30A314%7D&symb=)
will you sell tomorrow if it closes below the trendline.. or will you sell today when it violates it intraday?
Quote from: nikao on August 09, 2005, 05:54:11 AM
will you sell tomorrow if it closes below the trendline.. or will you sell today when it violates it intraday?
No, I don't consider intraday signals. But I'll sell if, 5 minutes before the close, the stock is
clearly trading below $3.21.
Earnings are out:
http://biz.yahoo.com/prnews/050809/sftu065.html?.v=22
It is really a mix of good and bad news.
They miss the EPS with 3 cent but exceed the revenue target. Revenue increased 156% compared to same quarter last year.
Not sure how the market will react to the figures but they are clearly on the road for a profitable Q4 and maybe even Q3 so I will keep the stock.
Quote from: Michael on August 09, 2005, 06:18:28 AM
Earnings are out:
http://biz.yahoo.com/prnews/050809/sftu065.html?.v=22
It is really a mix of good and bad news.
They miss the EPS with 3 cent but exceed the revenue target. Revenue increased 156% compared to same quarter last year.
Not sure how the market will react to the figures but they are clearly on the road for a profitable Q4 and maybe even Q3 so I will keep the stock.
hmm this looks good .. I think there has been some selling from people who don't want to hold the stock through earnings.. a lot of them might be buying back today because the earnings weren't bad..
QuoteThere is upside to our revenue outlook for the full year, which is based on our ability to market the Habib 4X in the United States. We believe the Habib 4X can have an incremental revenue impact in 2005 of up to $1 million depending on the timing of FDA regulatory approval of the device. We believe we are making solid progress in all areas of our operations and are excited about our potential for the remainder of 2005 and long-term," Mr. DeVivo concluded.
anyone knows when the descision of the FDA is expected? (RITA might rise big time in expectation of the approval)
Applauds to you Nikao,
You are right that RITA is a great pick long-term but I expected them to fall back a bit today because they missed the EPS estimate with 3 cents. Nice to see the market actually works :D
Earnings were out on RITA (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=184692&guid=%7B4C8B3D8D%2D393F%2D4BFA%2D8CDB%2DBE9C7181DDE1%7D&symb=) and Michael already did some analysis for us, thanks Michael :D
I have some doubts about the end of this downside move from RITA right away. The candlestick today, although the stock was up 4.4%, wasn't very encouraging. Perhaps we still need to go down to test those lows, or even touch the ascending trendline before we move decisively up.
Anyway, I'll continue to hold RITA.
David, would it be accurate/prudent to apply the same SMA analysis to RITA as you did on END?
Keep up the good work!
MG
Quote from: aix on August 09, 2005, 05:55:57 PM
David, would it be accurate/prudent to apply the same SMA analysis to RITA as you did on END?
Keep up the good work!
MG
Yes, I could use moving averages as a safety net on RITA, just as I did on END, but one isn't more accurate/prudent than the other. On RITA I have an obvious ascending trendline so I'm using that. On END it wasn't possible to draw a trendline so I used moving averages.
One can be flexible on technical analysis and making trading plans (it's wise not to have always the same indicators), providing one has a trading plan and follows it.
Considering RITA, nothing is wrong with the stock, I just bought it when it was overbought (one never knows if there will be a correction or if the uptrend just continues - I'm glad when I can determine trend) and the stock is having a correction to ascending support. For now, just 38.2% or 50% retracement. If the stock, as I expect, starts moving higher again this was an healthy and bullish pullback.
The threshold on my plan is to keep holding RITA as long as it closes above the ascending trendline, which for today's session will stand at $3.27.
Did I said $3.27?
QuoteThe threshold on my plan is to keep holding RITA as long as it closes above the ascending trendline, which for today's session will stand at $3.27.
RITA did all of its shareholders a favor and came down to exactly touch the ascending trendline (the low of the day was $3.27). After touching that level we've had a strong intraday reaction and I expect some continuation of this move for tomorrow (it's a pity the candlestick pattern and the volume weren't better).
Anyway, support was reached, a rebound occurred to a close above the 50% Fibonacci retracement level, so I'm all smiles on RITA, though this is currently my biggest open loss position of -12% at the close.
For tomorrow the ascending trendline will be at $3.28 but I don't think the stock will come down to that level, as said I believe the rebound from the support level will have continuation.
RITA has news out: RITA Medical Launches New LifeGuard(TM) Vision(TM) Safety Needle
Quote
RITA Medical Launches New LifeGuard(TM) Vision(TM) Safety Needle
RITA Medical Systems, Inc. (NASDAQ: RITA - News) today announced the introduction of the LifeGuard Vision safety needle designed to provide safe, secure needle management and low-profile design for improved patient comfort. The LifeGuard Vision safety needle is used by oncology practitioners in combination with RITA Vortex® infusion port products and third-party ports in the treatment of patients requiring repeated access of the vascular system or other selected body site, for the delivery of medications, nutritional supplementation, fluids, blood, blood products, and sampling of blood. The new LifeGuard Vision safety needle has been approved by the U.S. Food and Drug Administration (FDA).
http://biz.yahoo.com/bw/050816/165311.html?.v=1
What I'm wondering is if the FDA already did approve this in the past, or is this actually the message of approval??
QuoteWhat I'm wondering is if the FDA already did approve this in the past, or is this actually the message of approval??
I believe it was approved in the past, that is, this was old news to the market.
Out of 8 holdings on the 3 Stocks on Fire Portfolio, only one shows a loss at this moment, and that's RITA. But, though this stock is showing a loss for me, the technical picture isn't damaged and it is still bullish.
As long as the stock trades above the ascending trendline one knows the trend is bullish and trends usually persist. For tomorrow the ascending trendline will stand at $3.29.
RITA needs to make a white marubozu soon, or I'll fall asleep. So many red and black candles is really annoying. Make that white marubozu or break the support, but please do something, I'm tired !!!
RITA didn't hear me. She doesn't even know I exist. She's the master of her destiny and since I'm not Warren Buffet, I can't do anything to change that. I hope she comes to dance with the bulls, but there are many pretty bears outthere ...
If this girl closes below $3.31 tomorrow I'll have to kiss her goodbye :-*
David,
I have to say that my love for RITA has cooled down as well but she is still a sexy girl (http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=3313)
I didn't fall in love because of the chart's sexy curves. I was enticed by the insider buying and the phenomenal growth and both of these are still intact.
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=4021;image)
The insiders bought between 2.65 and 3.05. They have an excellent history of insider buying and selling (read they normally make a nice profit!). so I don't think they bought shares for a quick 10% gain!
The market was obviously disappointed that they didn't reach break even in Q2. I do however think they are going to exceed the analysts forecasts in Q3:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=4022;image)
I don't see any reasons why the growth would stop in Q3 and the earnings will improve just from the lack of one time costs to the tune of $962 000.
I am therefore going to hold RITA till next quarter is released. I am going to sell immidiately if they do not deliver an earning surprise in that quarter.
From technical, it has strong support at $3.30, then $3.00.
Of course, $2.50 is their absolute support. Whenever the stock touched $2.50, it reversed.
Since 2001, it touched $2.50 five times and all reversed and gained at least 100%.
I will buy it tomorrow at support and exit it if it break down the support.
With improved fundamental, it should not return to year low.
I checked its historical chart and it may run similar to the chart from Aug 2003 to April 2004 where it gained from $2.50 -> $6.75.
Second pull back is $3.50 previous high.
Let us try to buy it tomorrow at its strong support level of $3.30.
News. Two topics. Might jumpstart some interest today. :)
http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=&guid=%7B3B61768F%2D50F9%2D4F1A%2D9A50%2DA51260230E66%7D&symb=RITA
RITA Medical Launches New LifeGuard(TM) Vision(TM) Safety Needle; Proprietary ''See-Through'' Feature Designed for Greater Clinician Safety; Low-Profile Safety Needle Designed for Improved Patient Comfort
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 16, 2005--RITA Medical Systems, Inc. (NASDAQ: RITA) today announced the introduction of the LifeGuard Vision safety needle designed to provide safe, secure needle management and low-profile design for improved patient comfort. The LifeGuard Vision safety needle is used by oncology practitioners in combination with RITA Vortex(R) infusion port products and third-party ports in the treatment of patients requiring repeated access of the vascular system or other selected body site, for the delivery of medications, nutritional supplementation, fluids, blood, blood products, and sampling of blood. The new LifeGuard Vision safety needle has been approved by the U.S. Food and Drug Administration (FDA).
Joseph DeVivo, President and CEO of RITA Medical commented, "We believe the LifeGuard Vision safety needle will help us build momentum in this important market while reinforcing the RITA brand in our core oncology customer segment. The LifeGuard Vision is an important addition to our specialty access catheter product line as we execute our strategy to offer a premium, robust and competitively priced infusion product line to our customers."
The LifeGuard Vision expands the Company's integrated product offering to oncology practices worldwide and is the only safety needle product in the industry to use the Company's proprietary clear-bodied low-profile needle guard design. The LifeGuard Vision provides clinicians with both a visible confirmation of needle protection as well as an audible and tactile "click" upon complete needle retraction. The product is designed to improve patient comfort with a low profile design that allows clinicians to apply a flat, secure dressing over the device during use.
The LifeGuard Vision Safety Needle is used to access implanted vascular ports to administer fluids and/or blood products, and/or to withdraw blood. It facilitates safe removal by encapsulating the needle during vascular port de-accessing, helping prevent needle stick injuries.
AND
http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=&guid=%7B28260030%2D3580%2D483F%2DAA56%2DF75338C2D485%7D&symb=RITA
RITA Medical Systems Names Mario Martinez Vice President of Operations, General Manager; Experienced Medical Device Executive to Lead Company's Operations and Serve as General Manager of Manchester, Georgia Facility
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 17, 2005--RITA Medical Systems, Inc. (Nasdaq: RITA), the only publicly traded medical device company focused solely on cancer therapies, today announced the appointment of Mario Martinez, to the position of Vice President of Operations, General Manager. The position is newly created at the company and includes responsibility for company-wide operations including operating personnel, information technology, manufacturing, customer service and distribution. Mr. Martinez will also serve as the General Manager of the Company's Manchester, Georgia facility. Mr. Martinez will report directly to Mr. Joseph DeVivo, President and Chief Executive Officer.
"Mario will be focused on driving improvement in all areas of operations, manufacturing, and customer service throughout RITA. We believe that Mario's track record in medical devices, including radiofrequency ablation, makes him the perfect choice to lead RITA's operations," stated Mr. DeVivo. "With more than 25 years of experience in the medical device industry, we expect that Mario will be a strong leader and a great addition to the RITA management team," he concluded.
Mr. Martinez has held senior management and executive positions with several medical device companies including EP Technologies, a manufacturer of radiofrequency ablation products to treat cardiac arrhythmia, now a division of Boston Scientific (BSX). Prior to joining RITA, Mr. Martinez was a founder, President and CEO of Tecnix, LLC, a technology advisory firm based in Atlanta, GA. Prior to Tecnix Mr. Martinez held corporate officer, senior management and engineering positions with 2C Optics, an ophthalmic research development and commercialization company, with Biofield, a cancer diagnostic company, Cordis, a Johnson & Johnson (JNJ) company, Ohmeda (BOC), Ciba Geigy (Novartis), Coulter Electronics (Beckman Coulter, BEC), and Key Pharmaceuticals (Schering Plough, SGP). Mr. Martinez is a graduate of the Emory University Mini Medical School, the Goldratt Institute, the Covey Leadership Center and Leadership Miami, and received his bachelor's degree from Florida International University. In June of 2005 Mr. Martinez was appointed by Georgia Governor Sonny Perdue as Chairman of the Latino Commission for a New Georgia.
"I am thrilled to be working closely with Joe and his team to make RITA the premier medical device oncology company," Mr. Martinez commented. "I am also very pleased that the Company has selected Georgia as the home for the Company's manufacturing and operations center."
Rita Medical gets FDA OK on resection device - see Reuters
Up 5% in pre-market.
Add to that-
Rita medical announces FDA 510[K] clearance of Habib[TM]4x resection device- PR Newswire
8/18/2005 6;00.34 AM
Quote from: JKN on August 18, 2005, 07:39:41 AM
News. Two topics. Might jumpstart some interest today. :)
http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=&guid=%7B3B61768F%2D50F9%2D4F1A%2D9A50%2DA51260230E66%7D&symb=RITA
RITA Medical Launches New LifeGuard(TM) Vision(TM) Safety Needle; Proprietary ''See-Through'' Feature Designed for Greater Clinician Safety; Low-Profile Safety Needle Designed for Improved Patient Comfort
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 16, 2005--RITA Medical Systems, Inc. (NASDAQ: RITA) today announced the introduction of the LifeGuard Vision safety needle designed to provide safe, secure needle management and low-profile design for improved patient comfort. The LifeGuard Vision safety needle is used by oncology practitioners in combination with RITA Vortex(R) infusion port products and third-party ports in the treatment of patients requiring repeated access of the vascular system or other selected body site, for the delivery of medications, nutritional supplementation, fluids, blood, blood products, and sampling of blood. The new LifeGuard Vision safety needle has been approved by the U.S. Food and Drug Administration (FDA).
Joseph DeVivo, President and CEO of RITA Medical commented, "We believe the LifeGuard Vision safety needle will help us build momentum in this important market while reinforcing the RITA brand in our core oncology customer segment. The LifeGuard Vision is an important addition to our specialty access catheter product line as we execute our strategy to offer a premium, robust and competitively priced infusion product line to our customers."
The LifeGuard Vision expands the Company's integrated product offering to oncology practices worldwide and is the only safety needle product in the industry to use the Company's proprietary clear-bodied low-profile needle guard design. The LifeGuard Vision provides clinicians with both a visible confirmation of needle protection as well as an audible and tactile "click" upon complete needle retraction. The product is designed to improve patient comfort with a low profile design that allows clinicians to apply a flat, secure dressing over the device during use.
The LifeGuard Vision Safety Needle is used to access implanted vascular ports to administer fluids and/or blood products, and/or to withdraw blood. It facilitates safe removal by encapsulating the needle during vascular port de-accessing, helping prevent needle stick injuries.
AND
http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=&guid=%7B28260030%2D3580%2D483F%2DAA56%2DF75338C2D485%7D&symb=RITA
RITA Medical Systems Names Mario Martinez Vice President of Operations, General Manager; Experienced Medical Device Executive to Lead Company's Operations and Serve as General Manager of Manchester, Georgia Facility
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 17, 2005--RITA Medical Systems, Inc. (Nasdaq: RITA), the only publicly traded medical device company focused solely on cancer therapies, today announced the appointment of Mario Martinez, to the position of Vice President of Operations, General Manager. The position is newly created at the company and includes responsibility for company-wide operations including operating personnel, information technology, manufacturing, customer service and distribution. Mr. Martinez will also serve as the General Manager of the Company's Manchester, Georgia facility. Mr. Martinez will report directly to Mr. Joseph DeVivo, President and Chief Executive Officer.
"Mario will be focused on driving improvement in all areas of operations, manufacturing, and customer service throughout RITA. We believe that Mario's track record in medical devices, including radiofrequency ablation, makes him the perfect choice to lead RITA's operations," stated Mr. DeVivo. "With more than 25 years of experience in the medical device industry, we expect that Mario will be a strong leader and a great addition to the RITA management team," he concluded.
Mr. Martinez has held senior management and executive positions with several medical device companies including EP Technologies, a manufacturer of radiofrequency ablation products to treat cardiac arrhythmia, now a division of Boston Scientific (BSX). Prior to joining RITA, Mr. Martinez was a founder, President and CEO of Tecnix, LLC, a technology advisory firm based in Atlanta, GA. Prior to Tecnix Mr. Martinez held corporate officer, senior management and engineering positions with 2C Optics, an ophthalmic research development and commercialization company, with Biofield, a cancer diagnostic company, Cordis, a Johnson & Johnson (JNJ) company, Ohmeda (BOC), Ciba Geigy (Novartis), Coulter Electronics (Beckman Coulter, BEC), and Key Pharmaceuticals (Schering Plough, SGP). Mr. Martinez is a graduate of the Emory University Mini Medical School, the Goldratt Institute, the Covey Leadership Center and Leadership Miami, and received his bachelor's degree from Florida International University. In June of 2005 Mr. Martinez was appointed by Georgia Governor Sonny Perdue as Chairman of the Latino Commission for a New Georgia.
"I am thrilled to be working closely with Joe and his team to make RITA the premier medical device oncology company," Mr. Martinez commented. "I am also very pleased that the Company has selected Georgia as the home for the Company's manufacturing and operations center."
the first one about the needle was out yesterday premarket...
Quote from: 1reilly on August 18, 2005, 07:48:32 AM
Add to that-
Rita medical announces FDA 510[K] clearance of Habib[TM]4x resection device- PR Newswire
8/18/2005 6;00.34 AM
this sounds like really good news..
anyone knows what the impact (financily) could be?
The FDA clearance of Habib4X came a bit earlier than I expected (not complaining!). This adds additional 1 million to the revenue for Q3 and Q4 according to RITA's Q2 release:
QuoteThere is upside to our revenue outlook for the full year, which is based on our ability to market the Habib 4X in the United States. We believe the Habib 4X can have an incremental revenue impact in 2005 of up to $1 million depending on the timing of FDA regulatory approval of the device.
Whoops, I grapped the wrong story, meant to post the one about the Habib device.
Thanks nikao...
Looks good in the premarket...
RITA's timing is perfect.. I think she reads this board too..and was afraid to get lonely when we all are leaving her ;)
You go GIRL! :) 8)
News came to the rescue on RITA. Things like these happen when the stock has attractive fundamentals ;)
I'll just put the links for the news out today:
RITA Medical Announces FDA 510(K) Clearance of Habib(TM)4x Resection Device
Company Expects to Begin Shipping Device in Mid-September 2005 (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=184692&guid=%7B3B61768F%2D50F9%2D4F1A%2D9A50%2DA51260230E66%7D&symb=)
Michael already did excellent fundamental analysis on RITA, insiders seem to agree with him and the market agrees too. So I'll keep my plan and hold the stock as long as it closes above the ascending trendline (no doubt it has technical validity). Tomorrow the line will stand at $3.32, rising a bit everyday.
I read somewhere the cost of the device is $50 while they are selling it at $1K. So it's all profit.
QuoteI am therefore going to hold RITA till next quarter is released. I am going to sell immediately if they do not deliver an earning surprise in that quarter.
I guess this is a good trading plan from Michael.
Quote from: valueseeker on August 18, 2005, 10:16:56 PM
I read somewhere the cost of the device is $50 while they are selling it at $1K. So it's all profit.
Thanks for the info valueseeker, where did you read it? It would be nice to read the complete text ... anyway, thanks :)
Today RITA had some follow through from yesterday's jump at the open, which was pleasent. The ascending trendline I got on the chart is pretty valid so my trading plan could not be more simply, that's to hold the stock as long as it closes above that ascending trendline.
The expectation is for RITA to make new highs after this 50% Fibonacci correction.
I got the price info from the Yahoo MB:
http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=1600934114&tid=rita&sid=1600934114&mid=7930
It sounds about right as their profit margin on other devices are 60%+ and this is brand new so 90% margin is understandable.
I really don't know what would be the selling point for RITA. They are supposed to be profitable every quarter starting from Q4/2005. I hope we should see $4 pretty soon with this approval. What do you have on your mind, Dave?
Hi
Am new to 3SOF (just joined last night in fact) and decided to make my first play today. Saw your TA on RITA, and general comments here and elsewhere look bullish, so I put myself in at 3.66. Now I know it is far too early to be questioning this decision, but with the subsequent downward movement this afternoon, do you think this looks like a retracement back to support? How much longer do you expect to hold this if we don't see a bounce? (I know you're in at a higher level than me).
Anyway, excellent site, am really glad I found it. So good to find a community of traders who are really interested in supporting each other and helping each other out with info and suggestions. And very international too! You've got a lot of people from far flung corners of the world!!
Cheers ;D
Hi ScottishTrader,
Welcome to 3SOF. I like your attitude to investing. I don't know anybody how have made a profit on all trades (that is unless they have only traded once!).
You will probably see a post or two from Ramsburg one of the two founders of this site. Ramsburg's (or Fred's) slogan is: plan your trade and trade your plan. I think that is very true. When you buy a share make sure you know why you buy it and when you will sell it.
On this site most people are trading on technical signals. As I am sure you know, David has a stop loss at the ascending trend line. In this case he hasn't said when he will sell but I guess it will be at the resistance around 6.
I am not a technical trader. I barely use TA to time my trade. In the case of Rita I am convinced they will surprise positively when they release Q3. They might go up or down in the meanwhile but unless there are fundamental changes in the company's performance I am not planning to sell.
From my experience (not only from investing) nobody knows the fundamentals of the comapny better than the management. If they like in the case of Rita are buying shares it is most likely because they also believe that the comapny is undervalued. But even insiders can be wrong that is why any insider signal has to be confirmed. I had hoped that the confirmation would come in Q2 and it partly did as they exceeded the revenue forecast but earnings was disappointing. I hope earnings will come through in Q3.
Thanks for you reply michael,
I agree, in fact (aside from what looked like some nice technicals) what convinced me to go for this one was the recent insider trading history and your fundamentals analysis. I am still definitely a learner when it comes to TA, and David and other's posts put forward a strong case, particularly for appropriate buying signals, but I don't like to trade on companies whose share value is based on too much 'thin air'. While a lot of money can be made, the floor can fall away from you very easily too. RITA definitely appears to have a strong basis, and with Habib expected to start shipping next month, I am with you in looking forward to some kind of earnings revision. Then we'll see where she can really go.
Thanks for your feedback and analysis :)
I agree with Michael, insiders are truly believing RITA stock will trend higher in the near future. The company released an 8-K filing yesterday and I would like to highlight the following:
«In connection with Mr. DeYoung's promotion to the office described above, on August 17, 2005, the Company issued to Mr. DeYoung pursuant to the Company's 2005 Stock Incentive Plan an incentive stock option to purchase 60,000 shares of the Company's common stock, par value $0.001 per share, at a price of $3.34 per share, exercisable at the rate of 1/8 of the total number of shares after the first six months of August 17, 2005 and then with respect to 1/48 of the total per month, such that the option will become fully vested at the end of four years.»
«On August 17, 2005, the Board appointed Mario Martinez, age 51, to serve as Vice President of Operations and General Manager of the Company effective August 17, 2005. Prior to joining the Company, from January 2000 to August 2005, he was President and Chief Executive Officer of Tecnix, LLC, a technology advisory company. From October 1997 to January 2000, he served as Vice President Engineering and Technology Development at 2C Optics, a medical device company. From December 1995 to August 1997, he served as Vice President Engineering and Operations at Biofield Corp., a medical device company. From June 1992 to December 1995, Mr. Martinez served as Vice President Operations at EP Technologies, a division of Boston Scientific Corp. Prior to June 1992, Mr. Martinez held various positions at Cordis Corporation, a division of Johnson & Johnson, from March 1987 to June 1992. Mr. Martinez holds a B.S. degree from Florida International University.
In connection with Mr. Martinez' appointment to the office described above, on August 17, 2005, the Company issued to Mr. Martinez pursuant to the Company's 2005 Stock Incentive Plan an incentive stock option to purchase 100,000 shares of the Company's common stock, par value $0.001 per share, at a price of $3.34 per share, exercisable at the rate of 1/8 of the total number of shares after the first six months of August 17, 2005 and then with respect to 1/48 of the total per month, such that the options will become fully vested at the end of four years.»
The stock was below $3.34 just a week ago. Counting the company doesn't want to have
unmotivated managers leading the company, it sure believes the stock price will increase in the coming months/years.
And the company's beliefs are probably based on sound fundamental principles and expectations for the near future.
These thoughts go in tandem with Michael's fundamental analysis of RITA.
Anyway, yes, I'm more of a technical trader and I have a simple trading plan to follow:
1) Hold the stock as long as it closes above the ascending trendline which today will stand at $3.34 (interesting value :))
2) Sell with a profit at the descending long term resistance level, around $6.34 at this time, or about 75% above the current price.
QuoteAnyway, yes, I'm more of a technical trader and I have a simple trading plan to follow:
1) Hold the stock as long as it closes above the ascending trendline which today will stand at $3.34 (interesting value Smiley)
2) Sell with a profit at the descending long term resistance level, around $6.34 at this time, or about 75% above the current price.
For tomorrow the ascending trendline will stand at $3.35, up one tick from today.
Had to pull out of RITA today for a loss (only been in it very short term). Shame as it is one that I would like (and expect) to see a move on. But there is just too much else going on today, I had to have my money where its making me money. Pulled out of RITA at 3.51, into CPST at 3.55.
I have a feeling RITA will trace back to the ascending support that it is slowly approaching. If things start looking ready for another break I will be right back in!!
Thanks for your comments, Michael and David. :)
Thanks for your post ScottishTrader, I fully understand you, good luck with CPST :)
I'll continue to hold RITA, since it is a health sector company, a defensive play.
I'll just keep the plan I had for RITA, hopefully the money coming out of more cyclical sectors finds a home in biotech and pharmaceutical companies and their suppliers.
For today the ascending trendline is standing at $3.37, rising a bit everyday.
No news and no technical developments on RITA. This is the only losing stock at this moment on the 3 Stocks on Fire Portfolio but I'll keep it as long as it closes above the ascending trendline (today at $3.38). Fundamentals suggest higher prices are coming for RITA, I guess we just need to have patience.
Quote from: David Randolph on August 26, 2005, 06:00:48 AM
No news and no technical developments on RITA. This is the only losing stock at this moment on the 3 Stocks on Fire Portfolio but I'll keep it as long as it closes above the ascending trendline (today at $3.38). Fundamentals suggest higher prices are coming for RITA, I guess we just need to have patience.
I disagree with the no TA developments ;) RITA is showing very little (declining) volume in this consolidation phase after the rise on the approval. That's a good sign for me and gives me hope RITA will wake up soon ;)
That's true nikao :)
And on Friday we've had almost no volume on RITA, just 54,700 shares, but the stock rose a little more than 1% in the face of a declining market.
For Monday the ascending trendline will stand at $3.39, I'll continue to hold RITA.
Are we seeing a triangle here David?
And the fact that RITA couldn't close the gap is also bullish isn't it....
Quote from: nikao on August 28, 2005, 03:40:17 PM
Are we seeing a triangle here David?
And the fact that RITA couldn't close the gap is also bullish isn't it....
Yes nikao, we can talk about a triangle here. That gap conclusion is a bit forced, since volume is so low. When volume is very low one shouldn't take conclusions out of a stock's daily movements, RITA is probably just passing time.
The ascending trendline for tomorrow will stand at $3.41, I'll continue holding the stock for as long as it closes above that trendline.
RITA went down 1% and it was one of the best stocks on the 3 Stocks on Fire Portfolio today, so you can guess I got a sea of red to analyze this evening.
But, what you see is what you get, I have losing days like everybody else, of course, you can learn from my successes and mistakes. A wise man can learn from his mistakes, but the true genius learns from somebody else's mistakes.
RITA has no story today, time is running out for the stock to choose its path, and I will act accordingly. For tomorrow support stands at $3.41 and resistance at $3.53.
I think you have Rita figured right. If there is an earning suprise as you are hoping, what would be a good suprise?
David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your uptrending line which is being watched so closely?
Quote from: Tirebldr on August 31, 2005, 12:20:15 AM
David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your uptrending line which is being watched so closely?
I think that's no flag. A flag needs a post ;)
This is just triangular behaviour. This one is (was) sticking to the descending resistance of the triangle.
QuoteRITA has no story today, time is running out for the stock to choose its path, and I will act accordingly. For tomorrow support stands at $3.41 and resistance at $3.53.
It looks like RITA made it, just for one tick, but it closed above the short term descending trendline :) Volume was low with 131,500 shares changing hands but still the highest of the last 8 sessions.
Let's see if RITA can make a confirmation of the breakout today, with a white candle.
Quote from: ritastruts on August 30, 2005, 11:48:47 PM
I think you have Rita figured right. If there is an earning suprise as you are hoping, what would be a good suprise?
Nothing would surprise me, I'm prepared for all market events and developments. I will hold the stock for as long as the trend is bullish, given by the ascending trendline on the chart below. Thanks for your question :)
Quote from: Tirebldr on August 31, 2005, 12:20:15 AM
David as we zoom into the chart, as one who is attempting to learn, would I be pushing it to say I see a small bull flag forming? One that might be converging on your up trending line which is being watched so closely?
I got be honest with you Tirebldr, I'm don't «see» that flag pattern a lot. I'm not a big fan of it, don't know why, and since I studied it some years ago, I don't quite remember the details of the pattern. I have several books at home that explain the flag pattern (now I'm in the office, tomorrow on RITA's update I hope I can be of any help).
Quote from: David Randolph on August 30, 2005, 06:16:17 PM
RITA went down 1% and it was one of the best stocks on the 3 Stocks on Fire Portfolio today, so you can guess I got a sea of red to analyze this evening.
But, what you see is what you get, I have losing days like everybody else, of course, you can learn from my successes and mistakes. A wise man can learn from his mistakes, but the true genius learns from somebody else's mistakes.
RITA has no story today, time is running out for the stock to choose its path, and I will act accordingly. For tomorrow support stands at $3.41 and resistance at $3.53.
Hi David,
New I read this quote (A wise man can learn from his mistakes, but the true genius learns from somebody else's mistakes.) And took an hour to find it again :P. Just because I wanted to compliment you and all others posting, helping, explaining and show support on this site. I am learning every day. Not always as a genius woman, because sometimes I decide to go in and learn along the way.
I'm new to TA and still learning. This site helps a great deal. And more important it encourages to learn faster and more. Because I also want to contribute and maybe even be the start of a great trade in the near future for all of us.
Thanks and with all of you I'll be watching RITA and learn wisely... ;)
Thanks Amarens :)
I had some personal problems and couldn't be on schedule to make these updates, I want to apologize for that. I'm going to make them now, with the market already opened, one by one.
RITA yesterday was able to break its triangle pattern on the upside and had just 300 shares traded today so far ... so you know I haven't sold yet ;D
I will continue to hold RITA, the ascending support line for today stands at $3.44.
I want to make three technical considerations today about RITA:
1) Thinking about the downside, on every update of this stock we've discussed the ascending trendline, which tomorrow will stand at $3.46. If the stock fails to close above this trendline I'll be forced, by a matter of discipline, to take a small loss (first chart)
2) There was a symmetrical triangle breakout on Thursday, the technical target of that breakout is $4.57. But I'm not inclined to sell there (second chart)
3) I think the potential upside is about $6, that's where the real long term resistance comes to play. I've been talking about this level since the start of this thread on the 26th of July. I wish I'll be able to sell there, but RITA needs to runaway from this support zone quickly (third chart).
I'm not smart enough to know what will happen next on RITA, so I have set a simple trading plan with a high risk/reward ratio to trade the stock. Now I need to have the discipline to follow that plan.
Probably those that are following the 3 Stocks on Fire Portfolio from the beginning know that I've always followed my trading plan when it concerns to taking losses when they need to be taken (I believe only once I've let a stock fall beyond what was necessary to know it was a loss), but I wasn't so disciplined about letting the profits run, and that has damaged my overall performance, which by now could be higher than the actual 148%.
I should start letting the market tell me how much is enough.
I hope everyone is enjoying a nice Labor Day. Since I don't watch many television I wasn't aware, until this weekend, about the great damage and loss of life there was in Louisiana, Mississippi and Alabama. Some members of our website are from those states and I hope they are alive and well. I'm very sad about this horrible tragedy, but I believe the United States of America is a great, great nation and you will come out of this stronger than ever.
Perhaps, in the future, I will move to the US, if it wasn't for my family and friends, I would run now to go after the American dream.
God bless America !
Hi David,
For RITA to go to $6 and beyond, it needs to have BSM type of news (BSM went up 2x last week):
http://biz.yahoo.com/prnews/050830/latu025.html?.v=20
Personally, I don't understand the difference between the two companies enough to tell the similarity of their products (we need some real MDs in 3SF). But, I can only see the financial differences:
1. similar market cap
2. RITA has at least 2 FDA approved products, and $40M revenue and about to show profitability. BSM has about <$4M real revenues (the only reason it shows profitability is the sell of an asset/license that is unrelated to their main product).
I am staying with RITA for another quarter, along with other biotech stocks in VPHM, AOB and IDBE
-Valueseeker
Hi Louis
I am still not sure that I understand the implications of BSM's PR last week on their stock price or for that matter on RITA's stock price. My intuition tells me that the jump in their share price was not fundamentally justified and if I had to make the choice of which company to buy tomorrow morning I would buy RITA without a second thought.
Just my opinion.
Mike
Hi Michael,
Agree that BSM's rise was not fundamentally justified and I think it will drop this week.
However, it MIGHT point to some potentials that RITA products as well. Again, I wish we had some MDs on this site.
Since the downside risk for RITA is small and upside is potentially big, I will continuously hold it till next earning.
-Louis
analyst coverage initiated !!! >:D >:D
06-Sep-05
09:54 RITA Rita Medical started with a Buy at CE Unterberg; tgt $4.50 (3.59 +0.04)
CE Unterberg initiates RITA with a Buy and $4.50 tgt. Firm believes that after spending the last 12 months stabilizing its business as a single operating entity following its merger with Horizon Medical last July, RITA is now positioned to achieve steady improvements in its financial performance. They think the acquisition has more than doubled the co's revenue and believe that it is now on track to reach profitability for the first time within the next two quarters.
http://www.briefing.com/Silver/Calendars/UpgradesDowngrades.htm
Thanks for your posts :)
After so much wait, finally RITA made it, she gave us a beautiful long white candle to celebrate. Definitely out of the danger zone, RITA now has a chance of making a move to new highs.
I think RITA is listening to me :P
everytime I get impatient or I say something bad about her she's moving the next day :P
I get boring with her and say she didn't show a valid break out:
http://stock-diary.blogspot.com/2005/09/triangle-escape-rita.html
and there she goes! 8)
http://stock-diary.blogspot.com/2005/09/alive-and-kicking-rita.html
RITA had its intraday correction yesterday and it held. I think the chart shows a clear sky for a trip to new highs, I just wish volume was a bit stronger.
The ascending trendline for today is standing at $3.50.
fyi:
http://www.imperial.ac.uk/P6802.htm
New surgical device for bloodless operations gets first US outing
See also...
External Sites:
-Hammersmith Hospitals NHS Trust
-RITA Medical Systems
(Imperial College is not responsible for the content of these external internet sites)For immediate release
Thursday 8 September 2005
A new device for removing liver tumours with virtually no blood loss has been successfully used for the first time in America.
The Habib 4X resection device is named after its inventor Professor Nagy Habib , from Imperial College London, Professor of Hepato-Biliary Surgery at Imperial College London and chief of service for gastrointestinal surgery at Hammersmith Hospitals NHS Trust in west London. The revolutionary new device uses radiofrequency energy to 'seal' tissue around a tumour site, allowing the tumour to be removed while preventing blood loss and other complications. The device has enabled surgeons to operate where previously it would have been too risky.
After developing the technology Professor Habib formed an Imperial College spinout company, EMcision, who have a worldwide licence agreement with US-based RITA Medical Systems. The Habib 4X received approval from the US Food and Drug administration in August, and the first operation using the Habib 4X took place at the City of Hope National Medical Center in Duarte, near Los Angeles, California, last week. The Habib 4X is already licensed for use in Europe.
The Habib 4X works by delivering high-energy radio waves through a hand held device consisting of four electrodes into tissue around the tumour. They heat cells causing them to dehydrate and thus form a seal. The tumour is removed with a scalpel, with virtually no blood loss, and without the use of staples, glue, ties, and sutures.
Before use of the device in the UK for the removal of liver tumours, patients often lost up to ten pints of blood during the operation. Now, less than 50ml (an egg-cup full) is lost, and the patient spends less time in hospital intensive care. Over 100 patients have been operated on with the new device since October 2004, and none have died or suffered serious illness after the operation. The average hospital stay has been reduced from two weeks to eight days. When patients were followed up over a period of between two and 20 months, tumours had not returned in any of them. "The liver is the second commonest site of cancer in the body," comments Professor Habib, "So the potential of the Habib 4X is huge. The first use of the device in America is a significant and exciting milestone."
"The liver is the second commonest site of cancer in the body," comments Professor Habib, "So the potential of the Habib 4X is huge. The first use of the device in America is a significant and exciting milestone as we continue to develop the potential of radio frequency and microwave technologies for surgery."
As part of the licensing deal, the Habib 4X will be made available to developing countries in Africa at cost price.
Just 73,800 shares traded on RITA yesterday, and that provides no technical information. No significant news out either so everything stays basically the same on RITA.
The ascending trendline now stands at $3.51.
In attempting to CHAT online this morning with RITA and other mkts, CHAT stopped working. I have not been able to get back online all day. Is the chat software down again? I have not been able to locate any problems with my computer.
Thank you
Quote from: Tirebldr on September 09, 2005, 02:08:08 PM
In attempting to CHAT online this morning with RITA and other mkts, CHAT stopped working. I have not been able to get back online all day. Is the chat software down again? I have not been able to locate any problems with my computer.
Thank you
same problem here, it also didn't work for me! ???
Quote from: Tirebldr on September 09, 2005, 02:08:08 PM
In attempting to CHAT online this morning with RITA and other mkts, CHAT stopped working. I have not been able to get back online all day. Is the chat software down again? I have not been able to locate any problems with my computer.
Thank you
Good morning Tirebldr :)
I believe what is happening is that the chat is working fine, but the sign that says how many people are on the chat was cut off. I remember Ramsburg saying something about this, it was corrupting some other things on the homepage. I'll tell him to fix this today, thanks for the warning.
Considering RITA, it was up about 1% on a bit higher volume. We've had a doji candlestick but that means only indecision, not a short term trend reversal. Anyway, there's no reason to change the initial plan. The ascending trendline for today stands at $3.53.
I never laud my own technical skills, but that chart has turned too red for me. I smell a false breakout several weeks ago. I sold my position, and the buyers were slow even when I placed a sell order at below the current bid. Absent strong technical movement, I do not think that the fundamentals over the next 12 months (if projections are met, it is selling for 40 times the projected earnings for Dec 2006, and earnings are not projected to grow very fast at all) merits the opportunity costs of staying here. Good luck to those who disagree
Quote from: bigdogs99999 on September 12, 2005, 02:08:02 PM
I never laud my own technical skills, but that chart has turned too red for me. I smell a false breakout several weeks ago. I sold my position, and the buyers were slow even when I placed a sell order at below the current bid. Absent strong technical movement, I do not think that the fundamentals over the next 12 months (if projections are met, it is selling for 40 times the projected earnings for Dec 2006, and earnings are not projected to grow very fast at all) merits the opportunity costs of staying here. Good luck to those who disagree
Thanks for your comments on RITA bigdogs99999 :)
The stock is indeed moving pretty slow. I own it since the 26th of July, and I'm bored too. But being bored isn't exactly a good selling motive. I figure that since I own it for so long now, it would be a big break in discipline to sell it without a strong reason, after all, the stock has a bullish trend.
I still have about 33% in cash so my opportunity cost isn't high, so I might as well continue to follow my trading plan. But I respect other views and attitudes, thank you for sharing yours bigdogs99999.
The ascending trendline for tomorrow will stand at $3.54, rising a bit everyday, I will hold the stock.
I have nothing new to say about RITA, volume is low but the stock is still trading above the ascending trendline so I must continue holding it.
For tomorrow the ascending trendline will stand at $3.57.
RITA = $3.78 > TL = $3.56 => HOLD
If RITA CLOSE < $3.56 => SELL
David,
Am a little confused, yesterday you said the trendline was at $3.57, today you said it is at $3.56. Should it not be higher ???
Also not too keen on recent lack of activity on RITA. Fundamental story still looks strong, but there's nothing going on. Was some talk on the Yahoo MBs about news coming out in the next 6 days, but I know far too well that you have to take things said on these MBs with a serious pinch of salt. :-[
Still holding and waiting....
David,
I am curious to learn ... when I see a stock like RITA that is not heavily traded (200k+ a day here) with a bit of a breakout on volume and then back to relative disinterest volumewise (here even lower than average) ... at some point I take that to mean a lack of interest from the market rather than a technical signal. No one really cares -- okay I guess a better way to say it is that a couple of days of interest with no follow through is not a technical signal -- on RITA it appears (recognizing that there is a certain amount of trading that goes on simply because a stock exists on most issues because Timmy wants a new pair of shoes, or someone saw DNDN goes nuts and wants to sell RITA and buy some of it).... Other than simply drawing a chart and going yes or no based on whether the price crosses the line, when do you decide you are in a dead money stock technically because of lack of interest? For me, I look at the RITA chart for the past two years and could easily see a channel more than a year long. RITA was about $6 in May 2004, took a nosedive, and basically has traded between the high $2s and $4 for more than a year ... that does not a bullish trend make
Dave
Quote from: ScottishTrader on September 15, 2005, 07:02:23 AM
David,
Am a little confused, yesterday you said the trendline was at $3.57, today you said it is at $3.56. Should it not be higher ???
Also not too keen on recent lack of activity on RITA. Fundamental story still looks strong, but there's nothing going on. Was some talk on the Yahoo MBs about news coming out in the next 6 days, but I know far too well that you have to take things said on these MBs with a serious pinch of salt. :-[
Still holding and waiting....
Yes, it should. I don't know how I came up with $3.56 for today, perhaps I didn't put the mouse exactly on the right spot. Or, perhaps I accidentally erased the trendline (sometimes this thing happens with Metastock), and when I draw the line again it wasn't exactly with the same slope.
The stock was up 2% today, and that's encouraging. Volume picked up too. Probably our patience will be rewarded :)
Quote from: bigdogs99999 on September 15, 2005, 12:15:53 PM
David,
I am curious to learn ... when I see a stock like RITA that is not heavily traded (200k+ a day here) with a bit of a breakout on volume and then back to relative disinterest volumewise (here even lower than average) ... at some point I take that to mean a lack of interest from the market rather than a technical signal. No one really cares -- okay I guess a better way to say it is that a couple of days of interest with no follow through is not a technical signal -- on RITA it appears (recognizing that there is a certain amount of trading that goes on simply because a stock exists on most issues because Timmy wants a new pair of shoes, or someone saw DNDN goes nuts and wants to sell RITA and buy some of it).... Other than simply drawing a chart and going yes or no based on whether the price crosses the line, when do you decide you are in a dead money stock technically because of lack of interest? For me, I look at the RITA chart for the past two years and could easily see a channel more than a year long. RITA was about $6 in May 2004, took a nosedive, and basically has traded between the high $2s and $4 for more than a year ... that does not a bullish trend make
Dave
Thanks for your post bigdogs, an interesting read :) Let's focus on your question:
«Other than simply drawing a chart and going yes or no based on whether the price crosses the line, when do you decide you are in a dead money stock technically because of lack of interest?»
I decide that I'm on a dead money stock when the price trend turns bearish. You see, price is the most important thing on a chart. Second comes volume. If nobody cared the stock would naturally go down, stocks need sponsors to bolster their prices, but to go down ... they do it naturally when no one wants to buy (other than the ones you referred to :D)
So, the first thing to consider is price. What is the trend in price? At RITA, it is up. The trading plan is based on holding the stock for as long as the trend is ascending, that would mean the market's perception of fundamentals is improving, and those are the kind of stocks a man wants to hold in his portfolio.
It's curious that, on a day you two wrote posts complaining about the lack of activity in RITA, the stock made a white candle, advancing 2% with the highest volume of the past 6 sessions. Maybe the stock is coming to life now, considering candlesticks and the trend we'll probably see news highs, above $4.2, over the coming weeks.
The safety net on this thread, the ascending trendline which is acting as support as you can check on the chart below, will be standing at $3.58 for tomorrow.
You are probably right David,
I suppose the problem is that especially on a site like 3SOF where there are a lot of stocks are making serious moves, it is difficult to maintain the discipliine to stay in a slow mover like RITA. While the trendline is ascending at 3 cents a day, others like HOM have much steeper trendlines, providing the potentail for faster returns.
Having followed this one for a little while (I've been in and out of it twice now) and with very solid fundamentals, there is little question that she will undoubtably go higher, it may take more time than some are willing to give to see the gains. Some good news would provide the impetus for RITA to make a break above $4, and we have seen that she can be a quick mover (see last gaining streak :o) but at worst, this may not come until near next earnings, when we find out about earnings from Habib 4X. Hopefully they will post some new earnings guidance before then though.
I am new to this game, and I am still working on the discipline to follow your number one rule: "Plan the trade, trade the plan". But it can be hard sometimes... So being back in the black with RITA yesterday seemed like a good time to try to execute some of my own plans. Sold out for a VERY small gain.
Good luck to all still dancing with RITA :)
QuoteI am new to this game, and I am still working on the discipline to follow your number one rule: "Plan the trade, trade the plan". But it can be hard sometimes...
Yes, it is hard, but it can't be done without it. It is more important to be always disciplined than to make money on the short term, because without discipline that money will be lost in the future, unfortunately.
The stock market game is a very hard game to win over the long run, I hope and expect you're one of those that succeed :)
Considering RITA, the stock added another 2.85% on Friday's session. Everything's fine with the stock, slowly but surely climbing up to recent highs.
Of course, I'll hold RITA, one shouldn't let a profit turn into a loss, but there's wrong, quite the contrary, in letting a loss turn into a profit.
There were no new technical or fundamental developments today on RITA. The stock traded just 150,000 shares and declined a bit on profit taking.
The ascending trendline and the 50 day simple moving average are standing at $3.61 for tomorrow's session.
Thanks David
Keep teaching us how to hold. ;D
Curwood 8)
You're welcome coolwood, I'm learning too :)
RITA advanced 2% today, but there was a more important technical development: volume picked up considerably !
Slowly but surely RITA has moved away from the ascending trendline support and soon will be attacking the resistance level at $4.19. Perhaps this news had something to do with today's rise:
RITA Medical to Present at the UBS Global Life Sciences Conference (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=184692&guid=%7B9FCF0FEE%2DAE46%2D4682%2D8D6B%2D0F9EDDE69717%7D&symb=)
The conference will take place only on September 27th so maybe there's some potential for speculation around what the company might say at the conference. Visibility is always welcome for a company with attractive fundamentals like RITA.
The spectrum of a support break is now completely out of the question and I will continue holding RITA, it's wise to let a loss turn into a profit and then to let that profit run.
This was a day without story for RITA. The company will present at the UBS Global Life Sciences Conference on Tuesday for a public of roughly 4,000 institutional investors.
This wasn't a good day for the 3 Stocks on Fire Portfolio and RITA went down 3%. This battle is taking a lot of time to win, and it's sucking in resources. How many updates have I made on RITA? Will I make a profit? I don't know, but I know one thing: there's no justice in the marketplace.
The ascending trendline for tomorrow will be standing at $3.64, RITA can't close below that trendline or I'll sell.
David --
I've been tracking your odyssey with Rita, and I'm sorry that she's not treated you better. What you could have done, what you should have done, what I would have done, what others did or didn't do . . . it's all water under the bridge.
I know one thing: there's no justice in the marketplace.
How true! But RITA looks OK to me at this point. The stock is trending. Trendlines don't figure heavily in my approach but the little lady has approached one that you've draw and seem to view as significant.
I see a cheap, well-defined trade setting up:
(http://mysite.verizon.net/vzepr9fe/sitebuildercontent/sitebuilderpictures/rita.jpg)
On Monday, one could buy, say, 3.86 DAY if -- and only if -- she makes it. If filled, an initial stop could be placed at 3.53 or, to be really sure that one's good and wrong, at 3.43. Taking a pilot position and using either of those stops should make the risk acceptable even to small accounts.
Let's see if she decides to comply.
Thanks for your analysis Waschbaer, and good luck with RITA :)
Nothing new on the technical or fundamental front. The ascending trendline is standing at $3.65, I will hold for as long as the stock closes above this trendline.
I hope there will be some interest for this company at the UBS Global Life Sciences Conference, which is scheduled for Tuesday.
MarketWatch
Market Pulse: Rita Medical delays shipments of Habib4X
Tuesday September 27, 6:11 am ET
By Aude Lagorce
LONDON (MarketWatch) -- Medical device company Rita Medical Systems, Inc. on Tuesday said it has delayed domestic shipments of the recently launched Habib4X resection device. The company said there were reports that the sterile packaging of some products had been compromised during shipping. Rita Medical said it hopes to be able to fill its backorders in the fourth quarter.
&
Rita Medical Delays Device Shipments
Tuesday September 27, 7:45 am ET
Rita Medical Halts Shipments of Habib 4X Device Because of Packaging Problem
FREMONT, Calif. (AP) -- Rita Medical Systems Inc. on Tuesday said it halted shipments of its Habib 4X resection surgical device after several customers reported that the sterile packaging had been compromised.
The company said the reports prompted it to inspect a shipment of the recently launched device to its Georgia facility and found that the packaging could also have been compromised en route to customers.
Habib 4X shipments will not resume until the packaging has been redesigned, Rita said. The company added that all existing and future orders will be backlogged until the issue has been addressed, and that it expects to be able to fill backorders and meet anticipated demand during the fourth quarter.
Joseph DeVivo, president and chief executive officer, noted that the situation remains a packaging issue and that Habib 4X has "performed well in clinical situations."
Thanks for posting the news la-onda. Reading the news I guess RITA will break its ascending trendline today, which is standing at $3.66. So I will sell the stock at the open, been holding it for too long now.
So much hard work for nothing, better luck next time.
What happened to trading your plan? This stock held support and will close above the trend line at 3.66.........I thought you weren't gonna be out until it CLOSED below the trend line?
The Habib sealer, that was recalled b/c of packaging, was not even in the 3Q #'s anyway......
I think you missed an opportunity to reverse your losses.........TA 101 says stay with your plan, even when it doesn't seem right.
But it didn't, and this is the problem :-X
Having been in and out of RITA a couple of times and been frustrated both times, I can fully understand that at this point David was willing to take that chance and move on. Not only is it hard to stick to your plan when a stock has been in the red for so long, but it is also tying up capital that could be used for other purposes.
For David's sake, I hope he sold at the high of the day and not the low, to at least pull a little more back from this one. There is no doubt that at some point RITA will do well for her investors - see the fundamentals discussion on this thread - but with a gap down on the highest volume we have seen in ages, I would steer clear of this one for now until we see some strong positive indicators
RITA DD update November 05
*Moved Above Upper Bollinger Band
*Parabolic SAR Sell Signals @ 6.010
*Commodity Channel Index (CCI) Above 100 @ 30 & 60 day ranges
*RSI divergences 70% Rising
*Aroon & Aroon Oscillator:
Aroon Oscillator signal upward trend above zero
*Trading Above 50 - 200 MA
*Median Target: $4.50 52wk High $.5.23 Good Upside
2.80 Short Ratio
*Trend Spotter Overall Average: 40% - Buy
*Montgomery & Co. 4 StarMine Rating
*6-Sep-05 CE Unterberg Towbin Initiated Buy
*Reg.Med. Vol. Yahoo - MB
*Thomson I-Watch - Moderate Institutional & Retail Buying
Low Sell offs
*Recent Insider purchases $2.82 - $2.86
*Above Avg Vol 456,806 vs 165,995
NEWS:
AP - Rita Medical Up on New Medicare Codes + 11/22/05
(http://biz.yahoo.com/ap/051122/rita_medical_medicare.html?.v=1)
AP - Rita Medical Resumes Product Shipments + 11/15/05
(http://biz.yahoo.com/ap/051115/rita_medical_shipments.html?.v=1)
Bullish Breakout Underway IMHO
Anything else?
Having followed RITA (when she was most definitely not a beautiful girl) during her time as a SOF, I was very interested to see this come up this afternoon - just a shame I didn't spot RITA 2 days ago when it made its initial breakout from its descending trend. ::)
Anyway, as I see it, RITA has broken out of a short term descending trend, but peaked today at the resistance line of a symmetrical triangle formation that has been building over the last 6 months. On the plus side, it closed at the HOD, which may suggest continuation tomorrow. If the action follows through tomorrow with increased volume, a definite breakout is on the cards. However, 3 days of gains totalling over 22% and sitting at resistance may be too much, and it could fall back, ranging within the triangle.
If it does break, I can see 2 potential targets: One is the previous ascending trendline which it broke in late September, which I would put around $4.50. I higher target would be the technical target of the symmetric triangle, which would be, $5.50 (breakout price of $3.90 plus $1.60 triangle range).
From a fundamental perspective, much work has already been done here, and the overall analysis from members of the board has been that RITA has huge potential, and is certainly undervalued. Just have a look back at the thread to get the wider perspective.
I'll be very interested to see how she fares at tomorrow's open
Thanks for the edifying response.
Looks like she still has legs.
Last Trade: 4.00 Nov 23
After Hours Change: Up 0.07 (1.78%)
Friday Looking Good could use some volume.
Thanks again.
-BPKC
Hey! she is looking pretty good (http://mdteague.com/boobywiggle_tweetz.gif)
If it comes back to the high 3.6's, might it be worth another buy?
Yes David - Rita was a beautiful girl. But she was only a girl.
Now she has grown up and looks better than ever. Not only that but she might soon earn her first salary.
I am probably the only 3SOF who are still faithful to this beauty but I don't think I will be the last to fall in love. Soon she will get a lot of attention from all the gigolo's who is just in the game to earn money!
Mike
Yep, she's getting prettier every day, LOL! I entered this stock in the contest, and bought some the same day. I'm up over 8% on it now. I got in with real money at a better price than the stock contest has me at.
Leaira
We thought Rita was a beautiful girl, but I think someone got her in the bedroom today and had a Crying Game revelation :o
she is a little older now but still beautiful :P
maxi
Invalid Ticker Symbol
'RITA' is not a valid ticker symbol.
I guess she was bought out..... ???