Wall Street News Alert's "stocks to watch" this morning are: Spine
Pain Management, Inc. (OTCBB: SPIN), BioForm Medical, Inc. (NASDAQ:
BFRM), Amgen, Inc. (NASDAQ: AMGN) and Bank of America Corp. (NYSE:
BAC).
Yesterday after the markets closed, Spine Pain Management, Inc.
(OTCBB: SPIN) issued a press release providing a corporate
overview, as well as its strategic vision through 2011. Based in
Houston, Texas, the company delivers solutions to Spinal Health
Care Providers for necessary and appropriate treatment for
musculo-skeletal / spinal injury (SI) injuries resulting from
traumatic accidents, in an order to maximize patient recovery.
Utilizing a proven concept that has been developed and successfully
deployed over the past 3 1/2 years by its founders, SPIN is now
launching an aggressive nationwide "roll out" of Spine Pain
Treatment Centers across the U.S. into major metropolitan cities.
The initial strategy calls for the development and deployment of a
minimum of seven, to as many as ten centers across the U.S. over
the next 24 months.
"Based on the recent success of our first clinic in Houston,
which generated Third Quarter revenues of $230,000, and net income
of $119,642, we anticipate that we should be able to implement our
fast-track strategy successfully and efficiently," stated William
F. Donovan, M.D., the Company's Chief Executive Officer. "By
partnering with prominent Spine and Orthopedic Surgeons and other
local Health Care providers in each of our target markets, and
streamlining administration such as billing in our Houston office,
should allow us to implement our 2 year, nationwide expansion in an
efficient and cost-effective manner, while coordinating timely,
reasonable, high quality care for SI patients. With all this taken
into consideration, SPIN should continue to meet its goals and
milestone objectives, while increasing shareholder value in the
months and years to come."
Musculoskeletal conditions account for more disability and more
costs to the US health care system than any other condition, and
with the aging of the population, this burden to society will
increase. According to a report in the Journal of the American
Medical Association (JAMA), the spending for Spine treatments in
the United States totaled nearly $86 billion in 2005, a rise of 65
percent from 1997, after adjusting for inflation. Data from the
Agency for Healthcare Research and Quality collected from 23,000
people a year from 1997 to 2005 found that people with spine
problems spent about $6,096 each on medical care in 2005, compared
to $3,516 in medical spending among those without spine problems.
In 2005, American spent an estimated $20 billion on drug treatments
for back and neck problems, an increase of 171 percent from 1997.
Outpatient treatment for back and neck problems increased 74
percent to about $31 billion during the period. Spending for
surgical procedures and other inpatient costs grew by 25 percent to
about $24 billion.
The stock closed yesterday at $1.20 a share.
For an in-depth profile of Spine Pain Management, visit
http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=SPIN_121509.
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BioForm Medical, Inc. (NASDAQ: BFRM) up 60.2% on 11.7 million
shares traded.
BioForm Medical, Inc. is a medical aesthetics company
headquartered in San Mateo, California, developing products that
enhance aesthetic procedures performed in dermatology and plastic
surgery practices.
Amgen, Inc. (NASDAQ: AMGN) up 2% on 5.2 million shares
traded.
Amgen discovers, develops, manufactures and delivers innovative
human therapeutics.
Bank of America Corp. (NYSE: BAC) up 4.1% on 180.6 million
shares traded.
Bank of America is one of the world's largest financial
institutions.
Market Commentary:
The Institute for Supply Management, a trade group of purchasing
executives, said its manufacturing index read 55.9 in December
after 53.6 in November. A reading above 50 indicates growth.
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Bioform Medical (MM) (NASDAQ:BFRM)
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