10Q report from Nuvectra's management. Why did it take 8 years to commercialize a sub-par SCS device? Scott Drees will be taken to the woodshed after this disaster seeing he still can't eloquently spell out what Algovita's differentiating features are vs his competitors SCS systems.
Strategic and Financial Overview
We are a neurostimulation medical device company formed in 2008 to design and develop our neurostimulation technology platform for use in multiple different indications. Since our inception, the majority of our resources have been spent designing and developing Algovita. SCS was chosen as the first sector of the neurostimulation market to pursue, as we believe that it is a high growth and established market, there is an established regulatory and reimbursement pathway, and we believe that there are significant unmet needs in the SCS market. We currently have four significant competitors in the United States who may be better capitalized and who offer similar SCS devices that are already established and accepted in the market. While the competitive landscape for SCS remains challenging and we may face barriers to market acceptance of our product, we believe Algovita has certain differentiating features from other existing SCS systems that offer our patients and customers a broad set of capabilities and treatment options. Our U.S. sales team, in conjunction with marketing, is in the process of communicating and demonstrating to potential customers the features, perceived benefits and capabilities of Algovita.
We have a history of significant net losses, and we expect to continue to incur net losses for the foreseeable future. We expect that future revenue growth will come largely from sales of Algovita in the United States market beginning in the second half of 2016.
Was the second half of 2016 a windfall for Nuvectra?