The Company is an advanced oncology diagnostics technology and services company. It combines innovative technologies and meaningful test results to improve outcomes of patients suffering from cancer.
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Recs
Turned up on a screen for companies with hideous balance sheets. Current ratio has been dwindling and recently slipped to 0.74. Cash flow and earnings negative for a decade+, only question is if they'll be able to keep finding financing. Total current assets 13,324, total current liabilities 17,961. In Dec ’05 quarter total current assets were 16,042 , total current liabilities 8,958, with cash dropping from 9,333 to 2,620 over the same time. Deferred long term liability charges have popped up on the balance sheet this past year. The biggest dogs in the field, Quest Diagnostics and Laboratory Corp. are both making a lot of money and eating up more market share. Throw in a delistment scare from July ’06 which lasted until November when it finally broke $1 for 10 straight days, and you’ve got a decent bet on an implosion.
Caveats:
1) I don’t take on infinite risk so I never actually short stock, if I’m going to bet against a company I use puts. This is an experiment to see if I can detect companies that are teetering on bankruptcy.
2) They’ve gone a decade without making a dime and have still found a way to stay alive.
3) Comerica just raised their credit limit from 8.5M to 12M.
You missed the current revenue trend. Their lab business and big name partnerships are growing nicely. They just sold off their legacy assets for $12MM. This stock will do well long term.
Pretty hard to argue, as my rec has been tarred and feathered. I definitely like their racket, I'm actually a cancer biologist myself - after I finish up my postdoc I could very well send them my cv. Unless they figure out that I gave them a thumbs down, in which case I'll probably vanish after the interview.Even though this pick is knee-deep in red and sinking fast I still really don't dig their management's performance. Here are their sales/net income for the past 5 years:2002 9.26M/-9.46M2003 11.93M/-7.87M2004 9.77M/-19.6M2005 20.15M/-14.8M2006 33.6M/-15.93MThey don't seem to be getting much traction transforming the sales increases into earnings; the EPS numbers look slightly better but that's because they've also almost doubled their shares outstanding over a three year period. Looking at their income statement, balance sheet, and cash flow statement for the past decade it's hard to see how they have been able to keep functioning having never come close to making a dime. Should be interesting to see if it's current run can punch through the $2 resistance from mid-'05.Anyways, hope you've made some cashola on the long side. One thing's for sure: The Stove Is Hot, and I'm sticking to my 'no shorting' rule w/ real $$$. If it blows through $2 with no problem I'll probably yell 'uncle' and flush this pick, which has already started to swirl.Take care,Doc
Clarient has only been in operation for four years and is the David to the industries Goliaths. They are already exceeding the industries expectations with respect to gaining market share. Cancer isn't going away and neither are these guys.