Shareholder Update November 14, 2018: Creative Medical Technology Holdings, Inc.
PHOENIX, Nov. 14, 2018 /PRNewswire/ -- (OTCQB-CELZ) Creative Medical Technology Holdings, Inc. announced today an update of its activities:
The company has timely filed its 10Q on 11-14-18, contained in the 10Q is predominantly financial information so as is customary we are providing an update to our Shareholders;
To summarize what is being discussed herein;
- We are continuing to recruit physicians in the USA and abroad.
- Patients are being treated in the USA and abroad.
- We are continuing to expand our marketing capabilities.
- We are continuing to develop our patent portfolio.
- We are cash flowing.
- We are continuing to grow the business.
CaverStem™ domestic activities: As previously reported, we are continuing marketing to physicians across the United States. There are currently 14 locations at various stages of development, training marketing, recruiting and treating patients. We are recruiting additional marketing representatives to gain increase our exposure to physicians.
CaverStem.com; since implementing Patient Gain on 11-5-18, we have trained physicians and their staff in five locations. The primary training involves use of the CRM for patient recruitment, interaction between the physician and the patient and patient retention. All in HIPAA compliance. The responses to the benefits of this platform and its ease of use has been positive. Training of other physicians is ongoing.
Implementing the Patient Gain platform at this time is of great value as increased proficiency in data management is expected to result in reaching a much larger potential patient market with an ongoing reduction in patient acquisition costs and appointment scheduling and patient follow up directly with each physician's office, which also is expected to increase efficiency and reduce administrative costs. The platform enables the company to quickly replicate and implement our system with each physician joining CaverStem™, resulting in much greater efficiency as we scale the business upward.
CaverStem International: As was announced by publication across social media outlets and our press conference, the company successfully sponsored the treatment of two patients in Moscow by Dr. Dmitri Pushkar, Urology General of Russia using the CaverStem™ procedure.
We also are progressing with the CaverStem™ program in Switzerland and expect to release more information on the treatment of patients in this region soon. Interest in the CaverStem™ procedure remains strong in other EU countries. Setting up such relationships and navigating all legal obligations to conduct business in each country takes a great deal of effort and time on the part of CaverStem™ executives and our counterparts in each medical practice. As we reach milestones as we have in Russia, future disclosure will be made.
LA Biomedical Institute clinical trial: As we've previously announced, it is our intent to disclose the data via a joint publication with LA Bio Med as contractually agreed upon as well as submission to clinicaltrials.gov. The CaverStem™ team members involved in this aspect of the business are working with LA Bio Med to bring this to fruition.
FemCelz; as previously announced, we are progressing with the development of the FemCelz procedure for the treatment of female sexual dysfunction using stem cells from the patient's own bone marrow. Following the same model as CaverStem™, we anticipate launching this program in Q1 2019.
Revenue; our revenue has increased in Q3, it was however impacted by delays in training and launch of physicians. The company determined that delays in training some physicians until which time as the Patient Gain technology was implemented and our Generation 2 device technology was secured was of benefit to the company, the physicians and to their patients than booking sales in a given quarter opposed to the following quarter.
About Creative Medical Technology Holdings
Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company currently trading on the OTCQB under the ticker symbol CELZ. For further information about the company go to www.creativemedicaltechnology.com. For more information on our Caverstem™ procedure please go to www.caverstem.com.
Forward-Looking Statements
OTC Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission's website at www.sec.gov.
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SOURCE Creative Medical Technology Holdings, Inc.
Company Codes: OTC-QB:CELZ, OTC-PINK:CELZ