Friday, October 23, 2009

Orthovita: The Sky's the Limit!

On Thursday, October 22nd, 2009 Orthovita announced results for third quarter earnings. Product sales were $22.3 million which was an 8% increase over product sales for the third quarter in 2008. The company also reported that aggregate sales for the first nine months of 2009 increased an incredible 22% to $68.5 million compared to $56.1 million for 2008. Cortoss accounted for $400,000 in new sales revenues.

Sometimes our readers must wonder what is Wall Street thinking about when you look at the drastic fall in VITA's stock pricing since the ridiculous government backed study on Vertebroplasty was published. TSB sees this company picking up serious momentum with Cortoss as it continues to educate surgeons and patients on the long-term efficacy of the material. TSB must congratulate Koblish and his team for sticking to their strategy of being a bio-materials company and not being tempted into the hardware market. Remember the Osteotech fiasco! If anything TSB can see this organization evaluating potential opportunities for acquiring additional complimentary biomaterials to further enhance their position as a biomaterials leader in orthopaedics and spine.

Congratulations on a job well done!!!!!!

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