This morning EnteroMedics reported a loss 26.1m or .39c per share for the full year ended December 31, 2014. They stated the loss was due to high costs R&D and the approval process of the VBLOC therapy system. With 11.6m in the bank and a recent capital trip to the ATM to the tune of $6m EnteroMedics has around $18m in place to begin its highly anticipated commercialization roll out.The ground has been broken by hiring 4 regional sales directors, and establishing forward relationships with 8-10 centers of excellence moving with them from clinical trials, but still do not have a clear path forward about future capitalization. When asked they gave a round about answer that basically no option is off the table, that includes diluting existing share holders. They offered a few near term value producing events citing the the feed back from the private carriers on reimbursement with the existing category 3 status, having its clinical data published, the growth rate of the adoption of the centers of excellence, the price being around the $20k range, but failed to hold my confidence that they will not run out of money with a shareholder friendly option as the solution. The truth is ETRM needs to get a better plan in place or it may miss it opportunity ti help cure the terrible disease of obesity and to retain its shareholders. If I had enough stock and capital, I would start a proxy calling for new board members and maybe new CEO or CFO. I base this on a history of over promising and not delivering, plus no solid plan past the current capital levels, and the cherry on top is, a year ago prior to approval the stock was trading 2.20 and after this earnings call it crashed below 1.18. All I can do is speak with my feet. Personally, this loss comes at a horrible time finically for me, taking a loss is going to sting but I have to protect my house and getting out of this stock is step one. But I shall return. Its funny now Larry Cohen's "Thats no way to say goodbye" is playing on iTunes radio.
