News

Overactive bladder treatments multiply

12:54 am ET 05/05/2011 - MarketWatch Databased News


SAN FRANCISCO (MarketWatch) -- It may not kill you, but living with an overactive bladder can be a significant drain on your sleep and productivity, not to mention your general quality of life.

An estimated 33 million Americans suffer from the condition. The good news is people bothered by an urgent or frequent need to urinate with or without leakage have a growing variety of treatment options from which to choose, health-care professionals say. Patients for whom lifestyle changes aren't enough may find that prescription drug and neuromodulation options are more refined than they used to be.


The days when embarrassment kept people from seeking professional help appear to be on the wane.

"We're now talking about it and recognizing it is a significant problem and addressing it," said Dr. Tiffany Sotelo, director of the Pelvic Floor Center and assistant professor in the urology department at George Washington University in Washington, D.C. "There are options for many people."

Of course, overactive bladder may be a sign of other problems such as an infection, tumor or, in men, an enlarged prostate. Doctors typically look for such possible complications before making a diagnosis.

"The biggest thing is the [medical] history and the patient describing what they're experiencing," said Dr, Tomas Griebling, vice chair of the urology department at the University of Kansas in Kansas City. "That helps us to determine what type of problem they're having."

The conservative course many doctors often recommend that newly diagnosed patients try first ranges from cutting down on caffeinated and alcoholic drinks and doing bladder-retraining exercises to biofeedback and physical therapy. These techniques tend to be easiest on the pocketbook as well.

"Usually the first line of therapy is behavior modifications," Sotelo said. "I give my patients homework. I tell them to write down how much they're going to the bathroom and how much and what they're drinking."

Sometimes busy people aren't going to the bathroom enough during the day, she said, or are prone to drinking too much or too little. Kegel exercises and timed voiding, when patients train themselves to go to the restroom at certain times or intervals, can be effective tools.

"Diet modification and pelvic floor exercise or timed voiding work very well and there's no cost," Griebling said. "For some patients, that's all they need."

Others may need to try prescription drugs -- often next in line on the continuum of therapies. The number of drugs to treat overactive bladder has risen sharply in the past five years, and so have the number of advertisements promoting them to consumers.

The primary drug class is called anticholinergic or antimuscarinic. Brand names include Toviaz, Detrol, Enablex, Sanctura and Vesicare, and they can be expensive. The generic formulation called oxybutynin is the cheapest option but isn't right for some patients because side effects can include dry mouth, dry eyes, constipation and blurry vision.

Total U.S. sales of urinary-incontinence drugs were about $2.05 billion in 2010, up from $1.56 billion in 2006, according to IMS Health, a health-care information company in Norwalk, Conn. The top-selling drug last year was Pfizer's [PFE] Detrol LA, with $791 million in U.S. sales. In all, 18.5 million prescriptions were filled last year for the five top-selling drugs in the category, compared with 16.4 million prescriptions dispensed in 2006.

Consumer Reports recommends that patients with overactive bladder try lifestyle changes before moving on to drug therapy. If those don't work, it recommends Detrol and Detrol LA, the extended-release version, as best-buy drugs, meaning they give you the most cost-effective benefit with the least risk of side effects.

Most insurance plans require patients to try conservative management before pursuing more invasive or newer therapies, Sotelo said.

"Before you get into neuromodulation or Botox, you have to have failed the behavioral modifications and have failed or cannot tolerate medications."

Botox, or botulinum toxin, can be injected into the bladder lining to reduce overactive bladder symptoms for months at a time, Sotelo said, but the U.S. Food and Drug Administration has not approved it for this use.

"You're basically paralyzing or calming that portion of the bladder down," she said. "In some states, D.C, it is paid for by insurance."

Some cases of overactive bladder are associated with neurologic conditions such as multiple sclerosis, Parkinson's disease and stroke, Griebling said. But for many patients, the reason isn't known, though the mechanism for it is common.

"If you think of the bladder as it fills, the wall, which is made of muscle, should stretch, not squeeze," he said. "In some people, when the bladder is filling, the muscle is squeezing and that gives them the sense of having to rush urgently to the toilet."

The odds of having overactive bladder go up with age, though the condition can affect younger adults as well. Patients who want to do any number of sustained activities such as taking a plane trip or playing golf often resent the constant interruption, said Dave Kaysen, chief executive of Uroplasty , a medical-device company based in Minnetonka, Minn.

"If they're going to the bathroom 20 to 30 times a day, it's hard to leave the house," Kaysen said. "We've heard the term slaves to the bathroom or slaves to the toilet. They have to know where a bathroom is at all times."

Uroplasty is making a bid for patients who haven't been able to find relief after trying one or more drugs. It makes a minimally invasive neuromodulation system that targets a nerve center affecting bladder function. In Europe, it's also available to treat fecal incontinence.

Using the Urgent PC system in his or her office, a doctor inserts a small needle electrode above the patient's ankle near the tibial nerve and places a patch electrode at the base of the foot. The lead set attaches to the stimulator, which delivers electrical pulses.

"The patient feels a tingly sensation," said Kaysen, who's demonstrated the product on himself at conferences. "It feels like the foot is falling asleep. It's not unpleasant. It doesn't hurt."

"We use the tibial nerve as the highway to stimulate the sacral nerve plexus," he said.

Inconvenience may be a factor for some patients. They have to come in to the doctor's office for a total of 12 treatments once a week for about 30 minutes each. Those who need more treatments after that typically do so once a month, Kaysen said.

The product was first available in 2002 but has been redesigned, Kaysen said. "The biggest difference is the old system had a reusable lead set. The key was to develop a disposable segment of it, and that's what we did."

About 70% of Medicare patients are covered for Uroplasty's device, and Kaysen expects that figure to grow as more studies show its system is effective. Patients on Medicare have a $20 copay, so a 12-week course of treatment would run them $240. The list price is $1,500, and lead sets sell for $65 each.

Another device called the InterStim Therapy system made by Medtronic functions like a pacemaker for the bladder. It's placed under the skin of the upper buttock using local anesthesia and it's been available for more than a decade in the U.S.

An advantage to this product is patients can test-drive it on the outside for a period of time before they decide to have it implanted, Sotelo said. "You would wear a device to your belt buckle for about a week and see if it improves symptoms."

The downside is patients who decide to have InterStim can't have MRI imaging done. Since 1994, more than 85,000 people worldwide have received InterStim Therapy for bowel and bladder control, said Donna Marquard, a Medtronic spokeswoman. Most private insurers and Medicare cover it. Total outpatient costs for Medicare patients range $20,000 to $30,000.

In the future, patients with overactive bladder may be able to do neuromodulation in the home-care setting as well, said Sotelo, who's involved with a clinical trial of a needle-free neuromodulation patch made by Johnson & Johnson.

"I think there's going to be a day where they probably can get something they can do themselves that won't involve needles."
----------------
INTERESTING LAST TWO PARAGRAPHS.
 






Comparative effectiveness: percutaneous tibial nerve stimulation (PTNS) and sacral nerve stimulation (SNS) for overactive bladder (OAB) treatment.
By MacDiarmid, S.A. et al. (2010). Poster, Society for Urodynamics and Female Urology, St. Petersburg, FL.

INTRODUCTION AND OBJECTIVE: Anticholinergic therapy is first line treatment for overactive bladder (OAB) but is limited by side effects or lack of therapeutic goal attainment. Neuromodulation is an effective treatment alternative and its efficacy has been well established. The objective of this study was to review the comparative effectiveness of PTNS and SNS using published clinical and cost data to determine the most cost effective treatment strategy.

METHODS: A Markov model was constructed to compare costs, clinical effectiveness and the adverse events profiles of PTNS and SNS over a 6 yr. treatment period. Five strategies were compared: PTNS ONLY, SNS ONLY, PTNS FIRST (followed by SNS), SNS FIRST (followed by PTNS) or PATIENT CHOICE of PTNS or SNS. Cost data used average Medicare payments for CPT codes to report services and the associated physician, APC and DRG payments. Clinical effectiveness, defined as the percent of patients still receiving therapy was determined by a review of literature of patient response, adverse events and long term efficacy.

RESULTS: Total cumulative 6 year costs were: PTNS ONLY: $9,000; SNS ONLY: $15,000; PTNS FIRST: $15,000; SNS FIRST: $20,000 and $18-$22,000 for PATIENT CHOICE (75%–% chose PTNS). The costs were substantially lower in strategies with PTNS ONLY, PTNS FIRST, or PATIENT CHOICE with PTNS chosen > 50% of the time. Clinical effectiveness for each of the treatment strategies varied from 34% to 79%. All patient choice models were the most effective (78% - 79%), PTNS FIRST and SNS FIRST were equally effective at 74%. Over 6 years, PTNS ONLY was 57% effective; SNS ONLY was least effective at 34%. Ranking them from least expensive/effective to most costly/most effective: PTNS ONLY, PTNS FIRST and PATIENT CHOICE with 75% PTNS.

CONCLUSION: The use of PTNS to treat overactive bladder over a 6 yr period proved to be both clinically and cost effective.
 






Comparative effectiveness: percutaneous tibial nerve stimulation (PTNS) and sacral nerve stimulation (SNS) for overactive bladder (OAB) treatment.
By MacDiarmid, S.A. et al. (2010). Poster, Society for Urodynamics and Female Urology, St. Petersburg, FL.

INTRODUCTION AND OBJECTIVE: Anticholinergic therapy is first line treatment for overactive bladder (OAB) but is limited by side effects or lack of therapeutic goal attainment. Neuromodulation is an effective treatment alternative and its efficacy has been well established. The objective of this study was to review the comparative effectiveness of PTNS and SNS using published clinical and cost data to determine the most cost effective treatment strategy.

METHODS: A Markov model was constructed to compare costs, clinical effectiveness and the adverse events profiles of PTNS and SNS over a 6 yr. treatment period. Five strategies were compared: PTNS ONLY, SNS ONLY, PTNS FIRST (followed by SNS), SNS FIRST (followed by PTNS) or PATIENT CHOICE of PTNS or SNS. Cost data used average Medicare payments for CPT codes to report services and the associated physician, APC and DRG payments. Clinical effectiveness, defined as the percent of patients still receiving therapy was determined by a review of literature of patient response, adverse events and long term efficacy.

RESULTS: Total cumulative 6 year costs were: PTNS ONLY: $9,000; SNS ONLY: $15,000; PTNS FIRST: $15,000; SNS FIRST: $20,000 and $18-$22,000 for PATIENT CHOICE (75%–% chose PTNS). The costs were substantially lower in strategies with PTNS ONLY, PTNS FIRST, or PATIENT CHOICE with PTNS chosen > 50% of the time. Clinical effectiveness for each of the treatment strategies varied from 34% to 79%. All patient choice models were the most effective (78% - 79%), PTNS FIRST and SNS FIRST were equally effective at 74%. Over 6 years, PTNS ONLY was 57% effective; SNS ONLY was least effective at 34%. Ranking them from least expensive/effective to most costly/most effective: PTNS ONLY, PTNS FIRST and PATIENT CHOICE with 75% PTNS.

CONCLUSION: The use of PTNS to treat overactive bladder over a 6 yr period proved to be both clinically and cost effective.

This doesn't include how much money the physician makes - that is where the decision lays.
 


















Overactive bladder treatments multiply

12:54 am ET 05/05/2011 - MarketWatch Databased News


SAN FRANCISCO (MarketWatch) -- It may not kill you, but living with an overactive bladder can be a significant drain on your sleep and productivity, not to mention your general quality of life.

An estimated 33 million Americans suffer from the condition. The good news is people bothered by an urgent or frequent need to urinate with or without leakage have a growing variety of treatment options from which to choose, health-care professionals say. Patients for whom lifestyle changes aren't enough may find that prescription drug and neuromodulation options are more refined than they used to be.


The days when embarrassment kept people from seeking professional help appear to be on the wane.

"We're now talking about it and recognizing it is a significant problem and addressing it," said Dr. Tiffany Sotelo, director of the Pelvic Floor Center and assistant professor in the urology department at George Washington University in Washington, D.C. "There are options for many people."

Of course, overactive bladder may be a sign of other problems such as an infection, tumor or, in men, an enlarged prostate. Doctors typically look for such possible complications before making a diagnosis.

"The biggest thing is the [medical] history and the patient describing what they're experiencing," said Dr, Tomas Griebling, vice chair of the urology department at the University of Kansas in Kansas City. "That helps us to determine what type of problem they're having."

The conservative course many doctors often recommend that newly diagnosed patients try first ranges from cutting down on caffeinated and alcoholic drinks and doing bladder-retraining exercises to biofeedback and physical therapy. These techniques tend to be easiest on the pocketbook as well.

"Usually the first line of therapy is behavior modifications," Sotelo said. "I give my patients homework. I tell them to write down how much they're going to the bathroom and how much and what they're drinking."

Sometimes busy people aren't going to the bathroom enough during the day, she said, or are prone to drinking too much or too little. Kegel exercises and timed voiding, when patients train themselves to go to the restroom at certain times or intervals, can be effective tools.

"Diet modification and pelvic floor exercise or timed voiding work very well and there's no cost," Griebling said. "For some patients, that's all they need."

Others may need to try prescription drugs -- often next in line on the continuum of therapies. The number of drugs to treat overactive bladder has risen sharply in the past five years, and so have the number of advertisements promoting them to consumers.

The primary drug class is called anticholinergic or antimuscarinic. Brand names include Toviaz, Detrol, Enablex, Sanctura and Vesicare, and they can be expensive. The generic formulation called oxybutynin is the cheapest option but isn't right for some patients because side effects can include dry mouth, dry eyes, constipation and blurry vision.

Total U.S. sales of urinary-incontinence drugs were about $2.05 billion in 2010, up from $1.56 billion in 2006, according to IMS Health, a health-care information company in Norwalk, Conn. The top-selling drug last year was Pfizer's [PFE] Detrol LA, with $791 million in U.S. sales. In all, 18.5 million prescriptions were filled last year for the five top-selling drugs in the category, compared with 16.4 million prescriptions dispensed in 2006.

Consumer Reports recommends that patients with overactive bladder try lifestyle changes before moving on to drug therapy. If those don't work, it recommends Detrol and Detrol LA, the extended-release version, as best-buy drugs, meaning they give you the most cost-effective benefit with the least risk of side effects.

Most insurance plans require patients to try conservative management before pursuing more invasive or newer therapies, Sotelo said.

"Before you get into neuromodulation or Botox, you have to have failed the behavioral modifications and have failed or cannot tolerate medications."

Botox, or botulinum toxin, can be injected into the bladder lining to reduce overactive bladder symptoms for months at a time, Sotelo said, but the U.S. Food and Drug Administration has not approved it for this use.

"You're basically paralyzing or calming that portion of the bladder down," she said. "In some states, D.C, it is paid for by insurance."

Some cases of overactive bladder are associated with neurologic conditions such as multiple sclerosis, Parkinson's disease and stroke, Griebling said. But for many patients, the reason isn't known, though the mechanism for it is common.

"If you think of the bladder as it fills, the wall, which is made of muscle, should stretch, not squeeze," he said. "In some people, when the bladder is filling, the muscle is squeezing and that gives them the sense of having to rush urgently to the toilet."

The odds of having overactive bladder go up with age, though the condition can affect younger adults as well. Patients who want to do any number of sustained activities such as taking a plane trip or playing golf often resent the constant interruption, said Dave Kaysen, chief executive of Uroplasty , a medical-device company based in Minnetonka, Minn.

"If they're going to the bathroom 20 to 30 times a day, it's hard to leave the house," Kaysen said. "We've heard the term slaves to the bathroom or slaves to the toilet. They have to know where a bathroom is at all times."

Uroplasty is making a bid for patients who haven't been able to find relief after trying one or more drugs. It makes a minimally invasive neuromodulation system that targets a nerve center affecting bladder function. In Europe, it's also available to treat fecal incontinence.

Using the Urgent PC system in his or her office, a doctor inserts a small needle electrode above the patient's ankle near the tibial nerve and places a patch electrode at the base of the foot. The lead set attaches to the stimulator, which delivers electrical pulses.

"The patient feels a tingly sensation," said Kaysen, who's demonstrated the product on himself at conferences. "It feels like the foot is falling asleep. It's not unpleasant. It doesn't hurt."

"We use the tibial nerve as the highway to stimulate the sacral nerve plexus," he said.

Inconvenience may be a factor for some patients. They have to come in to the doctor's office for a total of 12 treatments once a week for about 30 minutes each. Those who need more treatments after that typically do so once a month, Kaysen said.

The product was first available in 2002 but has been redesigned, Kaysen said. "The biggest difference is the old system had a reusable lead set. The key was to develop a disposable segment of it, and that's what we did."

About 70% of Medicare patients are covered for Uroplasty's device, and Kaysen expects that figure to grow as more studies show its system is effective. Patients on Medicare have a $20 copay, so a 12-week course of treatment would run them $240. The list price is $1,500, and lead sets sell for $65 each.

Another device called the InterStim Therapy system made by Medtronic functions like a pacemaker for the bladder. It's placed under the skin of the upper buttock using local anesthesia and it's been available for more than a decade in the U.S.

An advantage to this product is patients can test-drive it on the outside for a period of time before they decide to have it implanted, Sotelo said. "You would wear a device to your belt buckle for about a week and see if it improves symptoms."

The downside is patients who decide to have InterStim can't have MRI imaging done. Since 1994, more than 85,000 people worldwide have received InterStim Therapy for bowel and bladder control, said Donna Marquard, a Medtronic spokeswoman. Most private insurers and Medicare cover it. Total outpatient costs for Medicare patients range $20,000 to $30,000.

In the future, patients with overactive bladder may be able to do neuromodulation in the home-care setting as well, said Sotelo, who's involved with a clinical trial of a needle-free neuromodulation patch made by Johnson & Johnson.

"I think there's going to be a day where they probably can get something they can do themselves that won't involve needles."
----------------
INTERESTING LAST TWO PARAGRAPHS.

I bet JnJ has a CPT code prior to launch.
 






"With the additional capital raised through the offering, we have the funds necessary to execute our plan to drive sales growth and move toward profitability," continued Mr. Kaysen. "While we are managing this cash very carefully, over the next couple of quarters, we expect to increase our investments in building our marketing and sales effort in support of our relaunch of Urgent PC. In addition, we intend to explore the emerging opportunity in the U.S. to treat fecal incontinence using the Urgent PC, which has already received a CE Mark for treatment of fecal incontinence in Europe. With the opportunities ahead for Urgent PC and the momentum in Macroplastique sales supported by a strong balance sheet, we are excited about the outlook for the company."

Are they going to sell Macroplastique in order to pay for the Fecal Incontinence clinical trial?

Yes.
 






UROPLASTY REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER FY2011
Global sales increase 14%
Sales to U.S. customers up 33% driven by 64% growth in Macroplastique®
Urgent® PC customers increase to 236 in the third quarter from 185
in the second quarter of the fiscal year
Two Additional Regional Medicare Carriers Begin Payment for PTNS
Conference call today at 4:30 p.m. ET

MINNEAPOLIS, MN, January 27, 2011 – Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the third fiscal quarter ended December 31, 2010.
Global sales grew 14% to $3.5 million, compared with $3.1 million in the same quarter a year ago. The growth was driven by strength in U.S. sales, up 33% from the third quarter a year ago. The increase in U.S. sales reflected a 64% increase in sales of the Macroplastique product line, where the Company has had a focused marketing effort. Sales of the Urgent PC Neuromodulation System in the U.S. for the recent third fiscal quarter totaled $1.0 million, an increase of 10% from the prior year’s third quarter. The number of customers in the U.S. purchasing the Urgent PC Neuromodulation System during the quarter increased to 236 from 185 in the second quarter ended September 30, 2010.
The Company also announced that two additional Medicare carriers, Cahaba Government Benefit Administrators®, LLC and First Coast Service Options, Inc. (FCSO), have begun to pay for Percutaneous Tibial Nerve Stimulation (PTNS) treatments, using the Urgent PC Neuromodulation System. Cahaba administers Medicare health insurance for the states of Alabama, Georgia, Mississippi and Tennessee. FCSO is the Medicare carrier for Florida, Puerto Rico and the U.S. Virgin Islands.
With the addition of these two carriers, there are now nine regional Medicare carriers providing coverage for PTNS, using Urgent PC, for the treatment of symptoms of overactive bladder syndrome in 29 states and two territories. Coverage of PTNS using the Urgent PC Neuromodulation System, currently extends to approximately 28 million lives of the 46 million total lives covered under Medicare.
“We were very encouraged by the growth in Urgent PC customers in the U.S. We believe the availability of a Category I CPT® code for PTNS, a favorable reimbursement amount under Medicare coverage and recent decisions by several Medicare carriers to cover the treatment when the CPT code became effective on January 1, 2011 are creating renewed interest in PTNS,” said David Kaysen, President & CEO of Uroplasty, Inc. “The number of customers grew in the third quarter as physicians began to ramp up their practices in light of the positive Medicare reimbursement decisions. We saw a
surge in new and reengaged customers in December and expect to see continued growth in the adoption
of Urgent PC. However, it is important to note that the exceptional rate of adoption we experienced in
the third quarter reflected some pent up demand from physicians, who were waiting for implementation
of the CPT code and confirmation of positive reimbursement rates.”
“The coverage of PTNS using Urgent PC, by Cahaba and FCSO continues to show the strength of the
clinical data that supports the effectiveness and safety of Urgent PC for treating the symptoms of
overactive bladder,” Mr. Kaysen added. “In addition to the nine regional Medicare carriers that today
provide reimbursement for PTNS, there is now one carrier, representing five states with approximately
two million covered lives that has indicated it will cover on a case-by-case basis. An additional three
Medicare carriers, representing 16 states with approximately 17 million covered lives, continue to
decline reimbursement coverage for PTNS.”
“Our reimbursement team is working to move the case-by-case coverage to routine coverage and to have
the negative coverage decisions reversed,” continued Mr. Kaysen. “We are also working with select
private health insurers to educate them on the benefits and results of clinical studies that demonstrate the
success of PTNS in the treatment of overactive bladder. In anticipation of increased interest in Urgent
PC, we have expanded our U.S. field sales and support organization. At December 31, 2010, we had 31
sales representatives compared with 19 sales reps at September 30, 2010.”
“As we look ahead, we anticipate continued demand for our Urgent PC Neuromodulation System, as
physicians become more comfortable with the treatment and gather additional patient feedback and
reimbursement experience. We are focused on execution, driving adoption and sales of Urgent PC and
Macroplastique in the U.S., and maintaining our presence in international markets. With the capital
raise in July, we have sufficient cash to pursue these growth initiatives,” Mr. Kaysen concluded.
Fiscal Third Quarter and First Nine Months Results for the Period Ended December 31, 2010
Net sales for the three months ended December 31, 2010 totaled $3.5 million, an increase of 14% over
net sales of $3.1 million for the third quarter of the prior fiscal year. Excluding the translation impact of
foreign currency exchange rates, sales increased by approximately 17%. For the nine months ended
December 31, 2010, net sales were $9.8 million, a 10% increase above net sales for the comparable
period of 2009 of $8.9 million. Excluding the impact of foreign exchange translation, sales grew by
14%.
Sales to customers in the U.S. for the three months ended December 31, 2010 were $2.0 million, a 33%
increase compared to $1.5 million in net sales for the year-ago quarter. During the first nine months of
fiscal 2011, sales to customers in the U.S. totaled $5.5 million, representing a 22% increase over net
sales of $4.5 million for the comparable nine month period of fiscal 2010.
Sales in the U.S. of the Urgent PC product for the three months ended December 31, 2010 increased
10% to $1.0 million compared with $934,000 for the same period last year. For the recent nine month
period, sales from Urgent PC totaled approximately $3.0 million, an increase of 1% over sales in the
comparable period last year.
Sales in the U.S. of Macroplastique increased 64% to $925,000 for the three months ended December
31, 2010, from $565,000 for the same period last year. For the nine months of fiscal 2011, sales of
Macroplastique increased 60% to $2.4 million compared with $1.5 million in the same period a year
ago, reflecting the increased sales and marketing focus on this product line.
Net sales to customers outside of the U.S. for the third quarter ended December 31, 2010 were $1.5 million, a decrease of 5% from $1.6 million in the same quarter last year. Excluding the impact of foreign exchange translation, sales increased by approximately 2%. For the nine months ended December 31, 2010, sales were $4.3 million, a decrease of 2% compared with $4.4 million in the comparable period of the prior year. Excluding the impact of foreign exchange translation, sales increased by approximately 5%.
The operating loss for the fiscal 2011 third quarter was $1.5 million compared with $392,000 in the prior year. The operating loss, excluding non-cash charges for share-based compensation and depreciation and amortization, of $1.1 million in the recent third quarter increased from approximately $42,000 in the year-ago quarter, primarily due to increased spending attributable to higher bonuses, commissions, travel expenses and increase in headcount. The net loss for the three months ended December 31, 2010 was $1.5 million, or $0.07 per share, as compared to a net loss of $387,000, or $0.03 per share, for the quarter ended December 31, 2009.
Cash, cash equivalents and cash investments at December 31, 2010 totaled $20.8 million. Reflected in the total was the contribution from the proceeds of a public offering of common shares in July 2010. The Company issued 4.6 million shares at $3.50 per share, for net proceeds of approximately $14.9 million. The Company plans to use the proceeds to expand the U.S. sales and marketing organizations to support the Urgent PC business, and for clinical studies, working capital and general corporate purposes.
Conference Call
Uroplasty will host an audio conference call today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the third fiscal quarter ended December 31, 2010. David Kaysen, President and Chief Executive Officer and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will host the call. Individuals wishing to participate in the conference call should dial 877-941-8609. An audio replay will be available for 30 days following the call at 800-406-7325 (domestic) or 303-590-3030 (international), with the passcode 4402505.
CPT is a registered trademark of the American Medical Association.
 






Overactive bladder treatments multiply

12:54 am ET 05/05/2011 - MarketWatch Databased News


SAN FRANCISCO (MarketWatch) -- It may not kill you, but living with an overactive bladder can be a significant drain on your sleep and productivity, not to mention your general quality of life.

An estimated 33 million Americans suffer from the condition. The good news is people bothered by an urgent or frequent need to urinate with or without leakage have a growing variety of treatment options from which to choose, health-care professionals say. Patients for whom lifestyle changes aren't enough may find that prescription drug and neuromodulation options are more refined than they used to be.


The days when embarrassment kept people from seeking professional help appear to be on the wane.

"We're now talking about it and recognizing it is a significant problem and addressing it," said Dr. Tiffany Sotelo, director of the Pelvic Floor Center and assistant professor in the urology department at George Washington University in Washington, D.C. "There are options for many people."

Of course, overactive bladder may be a sign of other problems such as an infection, tumor or, in men, an enlarged prostate. Doctors typically look for such possible complications before making a diagnosis.

"The biggest thing is the [medical] history and the patient describing what they're experiencing," said Dr, Tomas Griebling, vice chair of the urology department at the University of Kansas in Kansas City. "That helps us to determine what type of problem they're having."

The conservative course many doctors often recommend that newly diagnosed patients try first ranges from cutting down on caffeinated and alcoholic drinks and doing bladder-retraining exercises to biofeedback and physical therapy. These techniques tend to be easiest on the pocketbook as well.

"Usually the first line of therapy is behavior modifications," Sotelo said. "I give my patients homework. I tell them to write down how much they're going to the bathroom and how much and what they're drinking."

Sometimes busy people aren't going to the bathroom enough during the day, she said, or are prone to drinking too much or too little. Kegel exercises and timed voiding, when patients train themselves to go to the restroom at certain times or intervals, can be effective tools.

"Diet modification and pelvic floor exercise or timed voiding work very well and there's no cost," Griebling said. "For some patients, that's all they need."

Others may need to try prescription drugs -- often next in line on the continuum of therapies. The number of drugs to treat overactive bladder has risen sharply in the past five years, and so have the number of advertisements promoting them to consumers.

The primary drug class is called anticholinergic or antimuscarinic. Brand names include Toviaz, Detrol, Enablex, Sanctura and Vesicare, and they can be expensive. The generic formulation called oxybutynin is the cheapest option but isn't right for some patients because side effects can include dry mouth, dry eyes, constipation and blurry vision.

Total U.S. sales of urinary-incontinence drugs were about $2.05 billion in 2010, up from $1.56 billion in 2006, according to IMS Health, a health-care information company in Norwalk, Conn. The top-selling drug last year was Pfizer's [PFE] Detrol LA, with $791 million in U.S. sales. In all, 18.5 million prescriptions were filled last year for the five top-selling drugs in the category, compared with 16.4 million prescriptions dispensed in 2006.

Consumer Reports recommends that patients with overactive bladder try lifestyle changes before moving on to drug therapy. If those don't work, it recommends Detrol and Detrol LA, the extended-release version, as best-buy drugs, meaning they give you the most cost-effective benefit with the least risk of side effects.

Most insurance plans require patients to try conservative management before pursuing more invasive or newer therapies, Sotelo said.

"Before you get into neuromodulation or Botox, you have to have failed the behavioral modifications and have failed or cannot tolerate medications."

Botox, or botulinum toxin, can be injected into the bladder lining to reduce overactive bladder symptoms for months at a time, Sotelo said, but the U.S. Food and Drug Administration has not approved it for this use.

"You're basically paralyzing or calming that portion of the bladder down," she said. "In some states, D.C, it is paid for by insurance."

Some cases of overactive bladder are associated with neurologic conditions such as multiple sclerosis, Parkinson's disease and stroke, Griebling said. But for many patients, the reason isn't known, though the mechanism for it is common.

"If you think of the bladder as it fills, the wall, which is made of muscle, should stretch, not squeeze," he said. "In some people, when the bladder is filling, the muscle is squeezing and that gives them the sense of having to rush urgently to the toilet."

The odds of having overactive bladder go up with age, though the condition can affect younger adults as well. Patients who want to do any number of sustained activities such as taking a plane trip or playing golf often resent the constant interruption, said Dave Kaysen, chief executive of Uroplasty , a medical-device company based in Minnetonka, Minn.

"If they're going to the bathroom 20 to 30 times a day, it's hard to leave the house," Kaysen said. "We've heard the term slaves to the bathroom or slaves to the toilet. They have to know where a bathroom is at all times."

Uroplasty is making a bid for patients who haven't been able to find relief after trying one or more drugs. It makes a minimally invasive neuromodulation system that targets a nerve center affecting bladder function. In Europe, it's also available to treat fecal incontinence.

Using the Urgent PC system in his or her office, a doctor inserts a small needle electrode above the patient's ankle near the tibial nerve and places a patch electrode at the base of the foot. The lead set attaches to the stimulator, which delivers electrical pulses.

"The patient feels a tingly sensation," said Kaysen, who's demonstrated the product on himself at conferences. "It feels like the foot is falling asleep. It's not unpleasant. It doesn't hurt."

"We use the tibial nerve as the highway to stimulate the sacral nerve plexus," he said.

Inconvenience may be a factor for some patients. They have to come in to the doctor's office for a total of 12 treatments once a week for about 30 minutes each. Those who need more treatments after that typically do so once a month, Kaysen said.

The product was first available in 2002 but has been redesigned, Kaysen said. "The biggest difference is the old system had a reusable lead set. The key was to develop a disposable segment of it, and that's what we did."

About 70% of Medicare patients are covered for Uroplasty's device, and Kaysen expects that figure to grow as more studies show its system is effective. Patients on Medicare have a $20 copay, so a 12-week course of treatment would run them $240. The list price is $1,500, and lead sets sell for $65 each.

Another device called the InterStim Therapy system made by Medtronic functions like a pacemaker for the bladder. It's placed under the skin of the upper buttock using local anesthesia and it's been available for more than a decade in the U.S.

An advantage to this product is patients can test-drive it on the outside for a period of time before they decide to have it implanted, Sotelo said. "You would wear a device to your belt buckle for about a week and see if it improves symptoms."

The downside is patients who decide to have InterStim can't have MRI imaging done. Since 1994, more than 85,000 people worldwide have received InterStim Therapy for bowel and bladder control, said Donna Marquard, a Medtronic spokeswoman. Most private insurers and Medicare cover it. Total outpatient costs for Medicare patients range $20,000 to $30,000.

In the future, patients with overactive bladder may be able to do neuromodulation in the home-care setting as well, said Sotelo, who's involved with a clinical trial of a needle-free neuromodulation patch made by Johnson & Johnson.

"I think there's going to be a day where they probably can get something they can do themselves that won't involve needles."
----------------
INTERESTING LAST TWO PARAGRAPHS.

In the future, patients with overactive bladder may be able to do neuromodulation in the home-care setting as well, said Sotelo, who's involved with a clinical trial of a needle-free neuromodulation patch made by Johnson & Johnson.

"I think there's going to be a day where they probably can get something they can do themselves that won't involve needles."
----------------
BET THEY HAVE A CODE WHEN THEY LAUNCH IT.
 






Uroplasty to Issue Fourth Quarter and Full Fiscal Year 2011 Financial Results on May 25, 2011

Press Release Source: Uroplasty, Inc. On Monday May 16, 2011, 7:00 am EDT

MINNEAPOLIS, May 16, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ:UPI - News) announced today that it will release financial results for the fourth quarter and full fiscal year ended March 31, 2011, at the market close on Wednesday, May 25, 2011. The Company will host a conference call to discuss these results on Wednesday, May 25, 2011 at 4:30 p.m. Eastern Time (3:30 p.m. Central Time). David Kaysen, President and Chief Executive Officer, and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will host the call. Individuals wishing to participate in the conference call should dial 877-941-6009. An audio replay will be available for 30 days following the call at 800-406-7325 (domestic) and 303-590-3030 (international), with the passcode 4439831#.
 






Uroplasty Reports Financial Results for the Fiscal Fourth Quarter and Full Year 2011

~Fourth quarter sales increase 35% to $4.0 Million~
~Sales to U.S. customers up 54% driven by a 43% increase in Urgent® PC and a 60% increase in Macroplastique®~
~346 Active Urgent PC customers in the fourth quarter set new quarterly record~
~Conference call today at 4:30 p.m. ET~

Press Release Source: Uroplasty, Inc. On Wednesday May 25, 2011, 4:02 pm

MINNEAPOLIS, May 25, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ:UPI - News), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the fourth quarter and full fiscal year ended March 31, 2011.

Global sales grew 35% to $4.0 million in the fiscal fourth quarter ended March 31, 2011, compared with $3.0 million in the fourth fiscal quarter a year ago. The growth reflected strength in U.S. sales, up 54% from the fiscal fourth quarter ended March 31, 2010. U.S. sales growth was driven by a 43% increase in sales of the Urgent PC Neuromodulation System to $1.3 million compared with the same quarter in the prior fiscal year. The number of customers in the U.S. who purchased Urgent PC increased to 346 in the fiscal fourth quarter, establishing a new quarterly record for active customers. The growth of Urgent PC sales follows the availability of the Category I CPT® code for posterior tibial nerve stimulation (PTNS) effective January 2011; positive coverage decisions by 10 of the 13 regional Medicare carriers and a number of private payers; and favorable reimbursement rates. In addition, with continued focused sales and marketing efforts, sales of Macroplastique in the U.S. increased 60% in the fiscal fourth quarter ended March 31, 2011, compared with the fiscal fourth quarter a year ago.

"The fiscal fourth quarter ended March 31, 2011 was a strong finish to our 2011 fiscal year and demonstrates the growth potential for Uroplasty as adoption of Urgent PC in the U.S. continues to grow," said David Kaysen, President and CEO of Uroplasty, Inc. "Active customers increased to 346 in the recent quarter from 236 in the fiscal third quarter, reflecting the demand for Urgent PC in the U.S. We expect the number of active customers will continue to grow."

"We recently announced that effective May 22, NHIC, the regional Medicare carrier for Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, will begin to cover PTNS treatments, and, effective May 1, CIGNA Government Services, which also has a positive coverage policy for PTNS treatments, will become the new Medicare carrier for Kentucky," Mr. Kaysen continued. "With these additions, 10 of the 13 regional Medicare carriers representing approximately 31 million Medicare lives in 35 states provide coverage for PTNS treatments. United Healthcare, a nationwide private insurer, and Excellus BlueCross BlueShield, a regional insurer in upstate New York, also recently initiated coverage of PTNS treatments. We estimate that private payers providing insurance to 70 million lives have elected to provide coverage for PTNS treatments."

"In addition to demonstrating the benefits of Urgent PC to new physicians, our sales and marketing team is focused on increasing penetration at existing accounts," Mr. Kaysen said. "At the end of March, we had 31 employed sales representatives, supported in the field by four reimbursement managers. We expect to expand geographic coverage during fiscal 2012 and have already added four additional representatives since March 31. In addition to our success with Urgent PC, sales of Macroplastique in the U.S. were also very strong in the quarter. We anticipate that this strength will continue in the short term because of expected discontinuation of a competing product."

"Fiscal 2011 was a very productive year for the Company. Supported by sound clinical studies, a well-trained and motivated sales and support staff, and sufficient capital, we are well-positioned to pursue our growth opportunities in the U.S. We are also moving forward with our plan to explore the regulatory path in the U.S. for Urgent PC to treat fecal incontinence," Mr. Kaysen concluded.

Fiscal Fourth Quarter and Full Year Results for the Period Ended March 31, 2011

Net sales for the fiscal fourth quarter ended March 31, 2011 totaled $4.0 million, an increase of 35% over net sales of $3.0 million for the year-ago quarter. Fiscal year 2011 net sales were $13.8 million, a 16% increase over fiscal 2010 sales of $11.9 million. Excluding the impact of foreign exchange translation, sales grew by 19%.

Sales to customers in the U.S. for the fiscal fourth quarter ended March 31, 2011 were $2.4 million, a 54% increase, compared to $1.6 million in the year-ago quarter, and an increase of 21% over fiscal third quarter sales of $2.0 million. In fiscal 2011, sales to customers in the U.S. totaled $7.9 million, representing a 31% increase over sales of $6.1 million in fiscal 2010.

Sales in the U.S. of the Urgent PC product for the fiscal fourth quarter ended March 31, 2011 increased 43% to $1.3 million compared with $909,000 for the same period last year and an increase of 26% over fiscal third quarter sales of $1 million. The Company sold 1,668 Urgent PC lead set boxes to 346 customers in the fiscal fourth quarter ended March 31, 2011 compared to 1,379 boxes to 236 customers in the third fiscal quarter ended December 31, 2010. The increase in sequential sales of lead set boxes and number of customers in the fourth fiscal quarter is attributable primarily to the listed CPT code assigned effective January 2011 and expanded third-party coverage for PTNS treatments. For fiscal 2011, Urgent PC sales totaled $4.3 million, representing an increase of 11%, over sales of $3.8 million in fiscal 2010.

Sales in the U.S. of Macroplastique increased 60% to $1.0 million for the fiscal fourth quarter ended March 31, 2011, from $654,000 for the same period last year. Fiscal 2011 sales of Macroplastique increased 60% to $3.5 million compared with $2.2 million in fiscal 2010.

Net sales to customers outside of the U.S. for the fiscal fourth quarter ended March 31, 2011 were $1.6 million, an increase of 13% from $1.4 million in the same quarter last year. Fiscal year 2011 sales totaled $5.9 million, up 1%, compared with $5.8 million in fiscal 2010. Excluding the impact of foreign exchange translation, sales increased by approximately 7%.

Operating loss for the fiscal fourth quarter ended March 31, 2011 was $1.3 million compared with $561,000 in the prior year quarter. The fiscal 2011 operating loss was $4.7 million compared with $3.2 million in fiscal 2010. The operating loss, excluding non-cash charges for share-based compensation and depreciation and amortization expense, of $928,000 in the fiscal fourth quarter increased from approximately $218,000 in the year ago quarter, and increased to $3.1 million in fiscal 2011 from $1.7 million in fiscal 2010. The increase in loss is largely due to higher expenses related to increased headcount in sales and support staff and higher marketing expense in the U.S. The net loss for the fiscal fourth quarter ended March 31, 2011 was $1.3 million, or $0.06 per diluted share, compared to a net loss of $577,000, or $0.04 per diluted share, in the year-ago quarter. Fiscal year 2011 net loss was $4.6 million, or $0.25 per diluted share, versus $3.2 million, or $0.21 per diluted share in fiscal 2010.

Total cash and cash investments at March 31, 2011 were $19.6 million, which includes $14.1 million of cash, cash equivalents and short-term investments and $5.5 million of long-term investments. In July 2010, the Company raised net proceeds of $14.9 million in a public offering of 4.6 million shares at a price of $3.50 per share. The Company plans to use the proceeds to expand the U.S. sales and marketing organizations to support the Urgent PC business, and for clinical studies, working capital and general corporate purposes.

Conference Call

Uroplasty will host an audio conference call today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the fourth quarter and full fiscal year ended March 31, 2011. David Kaysen, President and Chief Executive Officer and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will host the call. Individuals wishing to participate in the conference call should dial 877-941-6009. An audio replay will be available for 30 days following the call at 800-406-7325 (domestic) or 303-590-3030 (international), with the passcode 4439831#.
 






http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7636326

Developments


Our sales during the past four years have been significantly influenced by the availability of third-party reimbursement for PTNS treatments. Sales of our Urgent PC System grew rapidly during fiscal 2007 and 2008 with rapid market acceptance of PTNS treatments that were reimbursed under a listed Current Procedure Technology (CPT®) code. However, during the first quarter of our fiscal 2009 the American Medical Association (AMA) advised the medical community that the previously recommended listed CPT code for reimbursement for PTNS treatments be replaced with an unlisted CPT code. As a result, many third-party insurers delayed or denied reimbursement for PTNS treatments, and sales of our Urgent PC System in the U.S. declined from a peak of $2.2 million in the first quarter of our fiscal 2009 to a range of $0.9 million to $1 million per quarter in the six subsequent fiscal quarters ended December 2010.

WHY DID THE COMPANY CONTINUE TO PUSH 64555 ON THE EAST COAST, TEXAS AND NY? THESE AREAS GENERATED THREE TIMES AS MUCH REVENUE AS OTHER AREAS THAT WERE USING 64999.
 






http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7636326

Developments


Our sales during the past four years have been significantly influenced by the availability of third-party reimbursement for PTNS treatments. Sales of our Urgent PC System grew rapidly during fiscal 2007 and 2008 with rapid market acceptance of PTNS treatments that were reimbursed under a listed Current Procedure Technology (CPT®) code. However, during the first quarter of our fiscal 2009 the American Medical Association (AMA) advised the medical community that the previously recommended listed CPT code for reimbursement for PTNS treatments be replaced with an unlisted CPT code. As a result, many third-party insurers delayed or denied reimbursement for PTNS treatments, and sales of our Urgent PC System in the U.S. declined from a peak of $2.2 million in the first quarter of our fiscal 2009 to a range of $0.9 million to $1 million per quarter in the six subsequent fiscal quarters ended December 2010.

WHY DID THE COMPANY CONTINUE TO PUSH 64555 ON THE EAST COAST, TEXAS AND NY? THESE AREAS GENERATED THREE TIMES AS MUCH REVENUE AS OTHER AREAS THAT WERE USING 64999.

Neuromodulation. Normal urinary control is dependent upon properly functioning neural pathways and coordination among the central and peripheral nervous systems, the nerve pathways, the bladder and the sphincter. Unwanted, uncoordinated or disrupted signals along these pathways can lead to OAB symptoms. Therapy using neuromodulation incorporates electrical stimulation to target specific neural tissue and “jam” the pathways transmitting unwanted signals. To alter bladder function, stimulation must be delivered to the sacral nerve plexus, which innervates the bladder and pelvic floor. Neuromodulation to treat OAB may be performed by a surgically implanted sacral nerve stimulation device or performed in a physician’s office by non-surgical PTNS procedure.


· Surgical. Direct sacral nerve stimulation devices consist of a surgically implanted lead near the spine and an implanted stimulator in the buttocks to deliver mild electrical pulses to the sacral nerve plexus. We believe most office-based physicians will first recommend drug therapy or PTNS treatments to patients before the more invasive, surgically implanted procedure. We believe patients may be more inclined to elect a less invasive treatment option for urinary symptoms instead of an invasive surgery that could be associated with complications.


· Minimally Invasive. PTNS delivers stimulation to the sacral nerve plexus by temporarily applying electrical pulses to the posterior tibial nerve, accessed through a non-surgical, percutaneous approach on the lower leg. Neuromodulation using PTNS has a therapeutic effect documented in published clinical studies. PTNS has a low risk of complications and is typically performed in a physician’s office because it is a non-surgical treatment.

"WE BELIEVE PATIENTS MAY BE MORE INCLINED TO ELECT A LESS INVASIVE....."
WHAT ABOUT THE PHYSICIAN NOT OFFERING PTNS DUE TO REIMBURSEMENT OR THAT THEY MAKE A LOT OF MONEY DOING INTERSTIM TEST LEADS? MAKING $70. PER TREATMENT DOES NOT ENCOURAGE A PHYSICIAN TO USE PTNS.

In The Netherlands and United Kingdom only, we distribute certain wound care products in accordance with a distributor agreement. Under the terms of the distributor agreement, we are not obligated to purchase any minimum level of wound care products.

"WOUND CARE PRODUCTS". WTF?

Focus on office- and outpatient surgical-based solutions for physicians. We believe our company is uniquely positioned to provide a broad product offering of office- and outpatient surgical-based solutions for physicians. By expanding our United States presence, we intend to develop long-standing relationships with leading physicians treating voiding dysfunctions. These relationships will provide us with a source of new product ideas and a conduit through which to introduce new products. We also intend to develop marketing programs to assist physicians in marketing their practices and to provide innovative programs focused on helping physicians attract patients and develop referral networks. Building these relationships is an important part of our growth strategy, particularly for the development and introduction of new products.

WOW - THE PRODUCTS HAVE BEEN OUT FIVE YEARS AND N-O-W THEY WANT TO "BUILD RELATIONSHIPS".WHAT A FREAKING JOKE.

Develop, license or acquire new products. We believe that our office- and outpatient surgical-based solutions are an important competitive advantage because they allow us to address the preferences of doctors and patients, as well as the quality of life issues presented by voiding dysfunctions. An important part of our long term growth strategy is to broaden our product lines further to meet customer needs by developing, licensing and acquiring new products.

GREAT. ANOTHER CRAPPY PRODUCT.UM, LET'S SEE, WE PELVIC FLOOR BACK IN THE DAY AND THAT FAILED. WE TRIED SLINGS FIVE YEARS AGO AND THAT FAILED. THE COMPANY HAS ALREADY GONE THROUGH ONE REORGANIZATION/BANKRUPTCY. YEP, WE KNOW WHAT WE ARE DOING.
 






Our Urgent PC Neuromodulation System also competes with anticholinergic medications such as Detrol® and Toviaz® (both by Pfizer Inc.); Ditropan® (Johnson and Johnson); Enablex® (Novartis); and Vesicare® (GlaxoSmithKline). These medications treat symptoms of overactive bladder, some by preventing unwanted bladder contractions and others by tightening the bladder or urethra muscles or by relaxing bladder muscles. We believe our Urgent PC Neuromodulation System competes effectively against these drugs for many patients because these drugs often have unwanted side effects such as dry eyes, dry mouth, constipation, cognitive changes and blurred vision.

WHAT ABOUT ALL OF THE OTHER OAB DRUGS - OXTROL, GLENIQUE, DITROPAN XL, DITROPAN GENERIC (IN BOTH FORMS), DETROL LA (ALSO GENERIC FORM), AND THE THREE OTHERS THAT ARE IN THE PIPELINE FROM OTHER BIG PHARMA COMPANIES?

Soft-tissue injectable urethral bulking agents for SUI competing directly with Macroplastique in the United States include: Contigen® distributed by C.R. Bard, Inc.; Durasphere® manufactured by Carbon Medical Technologies and distributed by Coloplast; and Coaptite® manufactured by BioForm, Inc. and distributed by Boston Scientific. We understand C.R. Bard, Inc. will discontinue distributing Contigen sometime by mid-calendar year 2011. We believe Macroplastique competes favorably against these products because it will not degrade, resorb or migrate, has no special preparation or storage requirements, is safe and effective, and does not require the patient to have a skin allergy test prior to the procedure.

WOW - NOW'S IT IS "MID-YEAR" FOR CONTIGEN.WE HAVE BEEN HEARING ABOUT THIS FOR OVER A FREAKING YEAR.

Product Liability


The medical device industry is subject to substantial litigation. We face an inherent risk of liability for claims alleging adverse effects to the patient. We currently carry $10 million of worldwide product liability insurance. However, we cannot assure you that our existing insurance coverage limits are adequate to protect us from liabilities we might incur. Product liability insurance is expensive and in the future may not be available to us on acceptable terms, or at all. Furthermore, we do not expect to be able to obtain insurance covering our costs and losses as a result of any product recall. A successful claim in excess of our insurance coverage could materially deplete our assets. Moreover, any claim against us could generate negative publicity, which could decrease the demand for our products and our ability to generate revenues.

DOES THIS COVER MEDICARE FRAUD?

Incorporation and Current Subsidiaries


We were incorporated in January 1992 as a Minnesota corporation and a wholly owned subsidiary of our original parent. In February 1995, we became a stand-alone, privately held company pursuant to a Plan of Reorganization confirmed by the U.S. Bankruptcy Court. We became a reporting company pursuant to a registration statement filed with the Securities and Exchange Commission in July 1996.


Our wholly owned foreign subsidiaries and their respective principal functions are as follows:


Uroplasty BV Incorporated in The Netherlands, distributes the Urgent PC Neuromodulation System, Macroplastique Implants, VOX Implants, PTQ Implants and wound care products. Products are sold primarily through distributors.



Uroplasty LTD Incorporated in the United Kingdom and acts as the sole distributor of the Urgent PC Neuromodulation System , Macroplastique Implants, PTQ Implants, all of their accessories, and wound care products in the United Kingdom and Ireland. Products are sold primarily through a direct sales organization.

AMAZING HOW THEY STILL CAN'T GET IT TOGETHER.

Liquidity and Capital Resources


Cash Flows.


At March 31, 2011, we have total cash and investments of $19.6 million, which includes $14.1 million of cash, cash equivalents and short-term investments and $5.5 million of long-term investments.


At March 31, 2011, we had working capital of approximately $14.7 million. In fiscal 2011, we used $3.4 million of cash in operating activities, compared to $1.9 million of cash used in fiscal 2010. We attribute the increase in cash used in operating activities primarily to the increase of $1.5 million in the operating loss, an increase in inventories and receivables due to the increase in sales, offset partially by an increase in accrued liabilities, primarily related to accruals of compensation-related expenses.


In fiscal 2011 we used approximately $229,000 to purchase property, plant and equipment compared with approximately $111,000 in fiscal 2010.


In fiscal 2011 we generated proceeds from financing activities of approximately $17.5 million, consisting of approximately $14.9 million in net proceeds from the public offering of our common stock and approximately $2.5 million from the exercise of warrants and options. In July 2010, in a public offering of our common stock, we issued 4.6 million shares (inclusive of the over-allotment exercised by the underwriters) at a price of $3.50 per share, for gross proceeds of $16.1 million, and net proceeds, after fees and expenses, of approximately $14.9 million. We anticipate using the proceeds to expand our U.S. sales and marketing organization to support our Urgent PC business and for clinical studies, working capital and general corporate purposes. As a result of increased interest in our Urgent PC after the new CPT code became effective, we expanded our U.S. field sales and support organization.

DOES THIS MEAN THAT WE WILL FINAL GET A RAISE?
 






Our Urgent PC Neuromodulation System also competes with anticholinergic medications such as Detrol® and Toviaz® (both by Pfizer Inc.); Ditropan® (Johnson and Johnson); Enablex® (Novartis); and Vesicare® (GlaxoSmithKline). These medications treat symptoms of overactive bladder, some by preventing unwanted bladder contractions and others by tightening the bladder or urethra muscles or by relaxing bladder muscles. We believe our Urgent PC Neuromodulation System competes effectively against these drugs for many patients because these drugs often have unwanted side effects such as dry eyes, dry mouth, constipation, cognitive changes and blurred vision.

WHAT ABOUT ALL OF THE OTHER OAB DRUGS - OXTROL, GLENIQUE, DITROPAN XL, DITROPAN GENERIC (IN BOTH FORMS), DETROL LA (ALSO GENERIC FORM), AND THE THREE OTHERS THAT ARE IN THE PIPELINE FROM OTHER BIG PHARMA COMPANIES?

Soft-tissue injectable urethral bulking agents for SUI competing directly with Macroplastique in the United States include: Contigen® distributed by C.R. Bard, Inc.; Durasphere® manufactured by Carbon Medical Technologies and distributed by Coloplast; and Coaptite® manufactured by BioForm, Inc. and distributed by Boston Scientific. We understand C.R. Bard, Inc. will discontinue distributing Contigen sometime by mid-calendar year 2011. We believe Macroplastique competes favorably against these products because it will not degrade, resorb or migrate, has no special preparation or storage requirements, is safe and effective, and does not require the patient to have a skin allergy test prior to the procedure.

WOW - NOW'S IT IS "MID-YEAR" FOR CONTIGEN.WE HAVE BEEN HEARING ABOUT THIS FOR OVER A FREAKING YEAR.

Product Liability


The medical device industry is subject to substantial litigation. We face an inherent risk of liability for claims alleging adverse effects to the patient. We currently carry $10 million of worldwide product liability insurance. However, we cannot assure you that our existing insurance coverage limits are adequate to protect us from liabilities we might incur. Product liability insurance is expensive and in the future may not be available to us on acceptable terms, or at all. Furthermore, we do not expect to be able to obtain insurance covering our costs and losses as a result of any product recall. A successful claim in excess of our insurance coverage could materially deplete our assets. Moreover, any claim against us could generate negative publicity, which could decrease the demand for our products and our ability to generate revenues.

DOES THIS COVER MEDICARE FRAUD?

Incorporation and Current Subsidiaries


We were incorporated in January 1992 as a Minnesota corporation and a wholly owned subsidiary of our original parent. In February 1995, we became a stand-alone, privately held company pursuant to a Plan of Reorganization confirmed by the U.S. Bankruptcy Court. We became a reporting company pursuant to a registration statement filed with the Securities and Exchange Commission in July 1996.


Our wholly owned foreign subsidiaries and their respective principal functions are as follows:


Uroplasty BV Incorporated in The Netherlands, distributes the Urgent PC Neuromodulation System, Macroplastique Implants, VOX Implants, PTQ Implants and wound care products. Products are sold primarily through distributors.



Uroplasty LTD Incorporated in the United Kingdom and acts as the sole distributor of the Urgent PC Neuromodulation System , Macroplastique Implants, PTQ Implants, all of their accessories, and wound care products in the United Kingdom and Ireland. Products are sold primarily through a direct sales organization.

AMAZING HOW THEY STILL CAN'T GET IT TOGETHER.

Liquidity and Capital Resources


Cash Flows.


At March 31, 2011, we have total cash and investments of $19.6 million, which includes $14.1 million of cash, cash equivalents and short-term investments and $5.5 million of long-term investments.


At March 31, 2011, we had working capital of approximately $14.7 million. In fiscal 2011, we used $3.4 million of cash in operating activities, compared to $1.9 million of cash used in fiscal 2010. We attribute the increase in cash used in operating activities primarily to the increase of $1.5 million in the operating loss, an increase in inventories and receivables due to the increase in sales, offset partially by an increase in accrued liabilities, primarily related to accruals of compensation-related expenses.


In fiscal 2011 we used approximately $229,000 to purchase property, plant and equipment compared with approximately $111,000 in fiscal 2010.


In fiscal 2011 we generated proceeds from financing activities of approximately $17.5 million, consisting of approximately $14.9 million in net proceeds from the public offering of our common stock and approximately $2.5 million from the exercise of warrants and options. In July 2010, in a public offering of our common stock, we issued 4.6 million shares (inclusive of the over-allotment exercised by the underwriters) at a price of $3.50 per share, for gross proceeds of $16.1 million, and net proceeds, after fees and expenses, of approximately $14.9 million. We anticipate using the proceeds to expand our U.S. sales and marketing organization to support our Urgent PC business and for clinical studies, working capital and general corporate purposes. As a result of increased interest in our Urgent PC after the new CPT code became effective, we expanded our U.S. field sales and support organization.

DOES THIS MEAN THAT WE WILL FINAL GET A RAISE?

HELL no. Each quarter we are told to get more sales because WE AREN'T MAKING OUR NUMBERS and somehow we exceeded the investors expectations.
 






HELL no. Each quarter we are told to get more sales because WE AREN'T MAKING OUR NUMBERS and somehow we exceeded the investors expectations.


Uroplasty's Dave Kaysen to Ring NASDAQ Closing Bell

Press Release Source: Uroplasty, Inc. On Monday June 6, 2011, 7:00 am EDT

MINNEAPOLIS, June 6, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ:UPI - News), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, announced today that its President and CEO David Kaysen will ring the NASDAQ Stock Market Closing Bell on Tuesday, June 7, 2011. The ceremony, held at the NASDAQ MarketSite at Times Square in New York City, will be broadcast live beginning at 3:45 p.m. ET via the NASDAQ webcam. The live ceremony, including Mr. Kaysen's remarks, can be viewed online at http://www.nasdaq.com/about/marketsitetowervideo.asx. Archived event photos and video will also be available online, at http://www.nasdaq.com/marketsite/marketsite_events.stm.

About Uroplasty, Inc.

Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our focus is the continued commercialization of our Urgent® PC Neuromodulation System, the only FDA-cleared system that delivers posterior tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder and associated symptoms of urgency, frequency and urge incontinence. We also offer Macroplastique® Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.uroplasty.com.
 






Uroplasty's Dave Kaysen to Ring NASDAQ Closing Bell

Press Release Source: Uroplasty, Inc. On Monday June 6, 2011, 7:00 am EDT

MINNEAPOLIS, June 6, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ:UPI - News), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, announced today that its President and CEO David Kaysen will ring the NASDAQ Stock Market Closing Bell on Tuesday, June 7, 2011. The ceremony, held at the NASDAQ MarketSite at Times Square in New York City, will be broadcast live beginning at 3:45 p.m. ET via the NASDAQ webcam. The live ceremony, including Mr. Kaysen's remarks, can be viewed online at http://www.nasdaq.com/about/marketsitetowervideo.asx. Archived event photos and video will also be available online, at http://www.nasdaq.com/marketsite/marketsite_events.stm.

About Uroplasty, Inc.

Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our focus is the continued commercialization of our Urgent® PC Neuromodulation System, the only FDA-cleared system that delivers posterior tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder and associated symptoms of urgency, frequency and urge incontinence. We also offer Macroplastique® Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.uroplasty.com.

What did this cost the company?
 


















Re: News _ Medtronic is killing Uroplasty

Boston Scientific Launches Neuromodulation Learning Institute To Enhance Clinical Education For Spinal Cord Stimulation

Company also introduces industry's first iPhone®/iPad® app for healthcare professionals using SCS

Press Release Source: Boston Scientific Corporation On Wednesday August 10, 2011, 8:30 am EDT

NATICK, Mass., Aug. 10, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE:BSX - News) has launched its Neuromodulation Learning Institute™ (NLI), a clinical education program and online resource center for healthcare providers to enhance their knowledge and awareness of spinal cord stimulation (SCS) technology, procedures and techniques. The Company made the announcement during the annual meeting of the International Spine Intervention Society (ISIS) occurring this week in Chicago.

The NLI offers a broad range of hands-on and web-based learning tools for healthcare professionals to enhance patient outcomes using Boston Scientific's Precision Plus™ SCS System, which uses current delivered to the spinal cord to mask pain signals to the brain. The NLI sponsors live classroom and peer-to-peer educational opportunities showcasing basic and advanced SCS procedures and techniques. It also offers the first and only SCS mobile simulator system, STIM Lab™. NLI members can benefit from interaction with healthcare professionals and gain access to experienced chronic pain specialists and spine surgeons.

To complement these learning tools, Boston Scientific is also introducing its NLI iPhone®/iPad® app, an industry-first educational resource for healthcare providers using SCS to manage patients with chronic pain. It features surgical technique videos and access to a comprehensive SCS textbook, Spinal Cord Stimulation: Percutaneous Implantation Techniques, written by Paul Kries, M.D., and Scott Fishman, M.D.

"The NLI offers in-depth instruction on techniques critical to successful patient outcomes with SCS," said Thomas Simopoulos, M.D., Director of the Interventional Pain Service at the Arnold Pain Management Center, Beth Israel Deaconess Medical Center in Boston and Assistant Professor of Anesthesia at Harvard Medical School. "The new iPhone/iPad app is an excellent tool for training current and prospective pain physicians on spinal cord stimulation."

"This unique training forum will benefit physicians and their patients who suffer from chronic pain by offering healthcare providers a comprehensive, single source of SCS information," said Michael Onuscheck, Senior Vice President and President of Boston Scientific's Neuromodulation Division. "The Neuromodulation Learning Institute is dedicated to providing a continuum of physician training that will broaden understanding of SCS and advance the quality of patient care."

For additional information and to review the NLI's clinical training and educational offerings, visit www.NeuromodLearning.com. Healthcare providers may download the NLI iPhone/iPad app for free at www.NeuromodLearning.com/app and activate it by obtaining a unique passcode from their local Boston Scientific Neuromodulation representative.

For more information on Boston Scientific's Precision Plus™ SCS System, visit www.ControlYourPain.com.

Image provided courtesy of Boston Scientific. © 2011 Boston Scientific Corporation or its affiliates. All rights reserved. iPhone® and iPad® trademarks of Apple Inc.