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3 Reasons to add Flying Brands #FBDU to your Watchlist

The content of this blog (or content associated with it) is not intended as investment advice. The author holds an interest in the company mentioned. Please do your own research.

Flying Brands #FBDU
Share Price: 3P
Market Capitalisation: £2.03M


Flying Brands own 100% of StoneChecker, which have 2 products:

StoneChecker

An innovative medical software designed to aid clinical decision making by providing personalised information about a patient’s kidney stone.

StonePrevent

A bespoke urine screening programme which aims to identify or exclude certain underlying causes of kidney stones.

As StoneChecker is the most advanced product, it’s the focus of this blog.

To listen to Nick Stevens, CEO of StoneChecker, who I interviewed on the podcast, this week…

3 REASONS TO ADD FLYING BRANDS #FBDU TOYOUR WATCHLIST

In an, “Update on Business Operations”, released on 26th October, the company stated:

“The StoneChecker team has worked assiduously with the North American software developer and regulatory consulting partners to reduce the previously announced delay to the CE marking program and now anticipates attaining CE marking before the end of 2017.”

This is a significant milestone for the company, which they’re confident will happen within the next 2 months.

CE Marking on a product is a manufacturer’s declaration that the product complies with the essential requirements of the relevant European health, safety and environmental protection legislation and ensures the free movement of the product within the EFTA & European Union (EU) single market.

In short, it means they can start selling their product in 30 EEA countries.

They’ve also applied to the US Food and Drug Administration (FDA) to enable the Stone Checker software to be marketed as a clinically approved. US approval is expected in Q2 2018.

 

StoneChecker is medical software designed to aid clinical decision making by providing information about a patient’s kidney stone.

If a person has a kidney stone that is too big to pass via urination there are, basically, two options:

1. Non-invasive surgery called Lithotripsy.

It involves the use of high-intensity pulses of ultrasonic sound waves to cause fragmentation of a stone over a period of around 30–60 minutes.

 

2. Invasive sugery called Ureteroscopy.

HOW DOES STONECHECKER WORK?

If a patient is suspected of having a kidney stone, they have a CT scan.

Currently (without StoneChecker) after a CT scan, a patient would start receiving up to 3 sessions of Lithotripsy before the urologist would be able to tell if this procedure is going to be successful.

If the procedure isn’t successful the patient will then go onto to have, Ureteroscopy sugery.

StoneChecker is compatible with all CT scanner’s but their software adds greater detail. It generates a composite score which predicts, within a 78% chance of probability, whether lithotripsy treatment will work or whether the patient should do straight to receive a Ureteroscopy.

This saves and awful lot of time and therefore cost.

In their recent operational update they also found that, “in addition to the original goal of providing the composite score of likely lithotripsy success, the following observations were made:

– The semi-automatic calculation of important clinical information has been well received by clinicians.

– Urologists and Radiologists appreciated the easy click process, the display of important clinical information such as stone to skin-surface distance and the map of stone density architecture on CT.

The original StoneChecker development plans required the collection of data in order to produce the composite score, but it is now evident that the display of this information in itself is a commercially attractive proposition. There is also a higher level of interest than expected in publishing post-marketing research on the clinical usefulness of the StoneChecker software.”

WHAT’S THE SIZE OF THE MARKET?

According to the NHS website, “around 3 in 20 men and up to 2 in 20 women develop kidney stones at some stage of their lives” and “About half of people will have another stone within ten years.”

According to CEO Nick Stevens, around 10% of Americans will get a kidney stone. He also estimates, on a global scale that kidney stone operations cost around $8bn a year or £80-£100m a year in the UK.

I have no idea about the kind of market share StoneChecker are hoping to achieve or the revenue they are targeting but if their product improves outcomes, saves time, cuts costs and is compatible with current systems, it will not only be welcomed in the NHS but by most radiologists and urologists worldwide.

It is also worth noting, that Nick says, their product has no competition.

 

The current market capitalisation of Flying Brands is just £2.03m and the share price is residing at a 6 month low just when they are poised to achieve CE Marking. This milestone will see them transition from a pre-revenue to a revenue generating company. I would be very surprised if this news doesn’t propel them towards previous highs and beyond, should they start achieiving decent sales.

Flying Brands have a company on the edge of commerciality, with one of their products, StoneChecker, that improves outcomes, saves time, cuts costs plus it’s compatible with current systems. It also has no competition.  With a market capitalisation of £2.03m it seems to me undervalued but by how much I’m not quite sure. Although this will soon become evident over the next few months, when they start selling to organisations like the NHS who I’m sure, with their stretched finances, would welcome such a product.

To add Flying Brands #FBDU to your Vox Markets Watchlist, click here and tap the, “Follow”, button.

The content of this blog (or content associated with it) is not intended as investment advice. The author holds an interest in the company mentioned. Please do your own research.

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