New York, NY / ACCESSWIRE / June 26, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has initiated coverage on Competitive Technologies Inc. (OTCQX: CTTC), a pain mitigation company with innovative wound and pain management products and technologies.
“We are intrigued by the prospects of the company as it is the exclusive licensed global distributor of the non-invasive Calmare Pain Therapy Device,” commented Ajay Tandon, CEO of SeeThruEquity. “The Calmare(r) pain therapy device has been used successfully on over 5,000 patients and represents a unique approach to pain management without harmful side effects or the use of potentially addictive drugs. We look forward to following the company’s progress and are initiating coverage with a price target of $0.79 per share.”
Additional investment highlights are as follows:
- Calmare(r) is a highly differentiated pain therapy device. CTI’s Calmare(r) pain therapy device has demonstrated high levels of pain treatment efficacy through a non-invasive procedure, successfully treating pain without harmful side effects or the use of powerful and potentially addictive drugs. The Calmare(r) pain therapy device has been used to successfully treat over 5,000 patients worldwide, where it has been shown to be effective in treating neuropathic and oncologic pain, including chemotherapy-induced peripheral neuropathy, phantom limb syndrome, sciatica, post-surgical neuropathic pain and back and neck pain, among other indications. Developed in Italy, the Calmare(r) pain therapy device employs a biophysical, rather than a biochemical approach, to pain therapy. Using a multi-processor and applying surface electrodes to the skin, the device creates and sends a no-pain signal to the brain, thus overriding the pain signal and providing relief for the patient.
- Unmet medical need, negative side effects of pain medication. Approximately 100 million Americans suffer from chronic pain, defined as pain that lasts longer than six months. Chronic pain can be mild or excruciating, episodic or continuous, merely inconvenient or totally incapacitating. Over the last decade, a handful of dedicated researchers have learned that chronic pain is not simply a symptom of something else - such as anxiety, depression, or a need for attention - but a disease in its own right, one that can alter a person's emotional, professional, and family life in profound and debilitating ways. Because of the mind-body links associated with chronic pain, effective treatment requires addressing psychological as well as physical aspects of the condition. Too often, the needs of pain patients go unmet, and the common standard of care is pain medication. This has led to a large increase in prescription painkiller addiction and overdoses. Research from the Center for Disease Control estimated that 10,000 people died in the US in 2010 from prescription painkiller overdoses. For every death, another 30 people end up in the emergency room from painkiller misuse or abuse.
- Compelling value proposition for practitioners. CTI is initially targeting a chronic pain patient population of approximately 5.8 million in the US alone, representing just 5% of the estimated chronic pain market. Patients typically undergo 12 treatments over a two week period, at a national average cost of $250 per treatment. Physicians can lease the Calmare(r) pain therapy device for around $2,000 per month, resulting in a very attractive economic value to their practices. CTI has reported a wide range of reimbursement levels for Calmare(r) therapy device treatments, even within the same geographic locations. Regardless of the reimbursement level, there is still ample room for physicians to make healthy returns using the device.
The report is available here: CTTC Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms.
Please review important disclosures on our website at http://www.seethruequity.com/.
About Competitive Technologies Inc.
Competitive Technologies Inc., the pain mitigation company, develops and commercializes innovative wound and pain management products and technologies. CTI holds the 510k clearance on its flagship product, the non-invasive Calmare(r) Pain Therapy Device, which grants it an exclusive right to sell, market, research and develop the medical device. The Company is the exclusive licensed global distributor of Calmare.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit http://www.seethruequity.com/.
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