The Medical Device Business Journal — Medical Device News & Articles | MassDevice
In an intriguing TED-style presentation by Dr. Greg Petsko at this week’s Massachusetts Life Sciences Start-up Initiative convention, the renowned Brandeis/Harvard professor and co-founder of combinatorial chemistry pioneer ArQule, issued a throw-down:
“We need a way to persuade drug companies to part with these compounds and let them be tested on a broad spectrum of diseases so that we can actually find alternative uses.”
{IMAGERIGHT:http://www.massdevice.com/sites/default/files/checkup/090602_index1.jpg}Our Weekly Checkup takes the temperature of the 63 public medical device companies in the MassDevice Index. The index is weighted according to market capitalization, based on the number of shares outstanding for each company from its most recent quarterly report and each Friday’s closing share price.
The index for the week ended May 29 closed with a reading of 5.06, up more than 4.4 percent compared with the prior week. It’s the second week of growth for the index; since we began tracking these companies in late March, the index has risen 4.1 percent.
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For companies with a burn rate that’s hot to the touch, there could be a little bit of relief from an unlikely source.
There’s a little-known credit in the federal tax code for research and development expenses that could save early-stage companies a boat load of money.
But most firms either overlook the credit entirely, or find it too mystifying to bother with, meaning that this powerful accounting tool isn’t getting the kind of play it should with the companies that need it most.
{IMAGERIGHT:http://www.massdevice.com/sites/default/files/checkup/090528_index.jpg}Our Weekly Checkup takes the temperature of the 63 public medical device companies in the MassDevice Index. The index is weighted according to market capitalization, based on the number of shares outstanding for each company from its most recent quarterly report and each Friday’s closing share price.
The index for the week ended May 22 closed with a reading of 4.85, up nearly 3.7 percent compared with the prior week. That’s a reversal of last week’s dramatic 18.5 percent decline. Since we began tracking these companies in late March, the index slipped 2.16 percent, mostly due to that precipitous slide during the week ended May 15.
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