Miromatrix and their bioengineered pig-human hybrid organs 🐷

Hello once again unknown individuals of the interwebs! Magnus here, how goes the speculation? *Sips his Pisang Ambon* Tis’ of no importance, let us move on to the matter at hand… Miromatrix! Who is Miromatrix? Miromatrix Medical Inc is a relatively young bioengineering company that is “on a mission to eliminate the organ transplant waitlist”, a rather admirable cause if I do say so myself! They seek to reduce/eliminate said waiting list via a process of decellularization and recellularization of pig organs seeking to make the organs viable for human transplantation.  You  may have seen the recent news that a Mr.David Bennett (57 years old) underwent transplant surgery and received a pig's heart. Unfortunately Mr.Bennett passed away two months after the transplant yet it was certainly a large leap in the direction of making transplantable organs available for everyone! [source: YouTube video] [source: Miromatrix’s website] At Miromatrix they remove all the pig cells from the organ in question, leaving behind the organs “scaffolding”. Human cells are then added to the scaffolding creating a human-compatible organ. Miromatrix currently focuses on kidneys (MiroKidney) and livers (MiroLiver) but they look to expand their organ program in the future to produce other in-demand organs such as hearts, lungs and other internal organs. [source: Miromatrix’s website] [source: Vimeo] [source: Twitter] Why Miromatrix? Well my dear smooth brained simian, I will lay it out simple for you, eh? Right off the bat it turned up during screening. A small micro cap company ($45M) with a small-ish float (13M) given the float and the price shares can be hoovered up quickly! It IPO’d recently (June 2021) and has already undergone the descent into the depths that all biotechs suffer, dropping from $16.52 right down to $2.31 (roughly -86% decrease in price). All this makes them seem poised for a quick pump “to infinity and beyond”. According to their most recent 10-Q, they have $62M in cash and their operating expenses for the three months ending in September is around $5M. Extrapolating that into 12months they should need around $20M per year to run the company. So they should have enough dosh for around 3 years of operation. This is evidently severely “Dumbing down” the calculation, and assuming that expenses will remain the same as we go into the future, but it at least gives us an idea that they do have some cash on hand. [source: SEC filing 10-Q] They also have a plethora of programs in their pipeline, although none are currently in clinical trials which is quite a downer. However, initiating clinical trials may fuel the rocket so to say. There is also their website, the first and last place that most of the herd will do their “DD”. It’s rather nifty, which leads us to Chimpskis’ website rating: [Source: Me…] The pipeline As mentioned above, they have quite a few programs in the pipeline, 6 to be precise. Unfortunately none are in clinical trials. 3 (miroheart, mirolung and miropancreas) are undergoing preclinical studies and the other 3 (External assist Liver, miroliver and mirokidney) are undergoing Investigational New Drug (IND) enabling studies. [source: Miromatrix’s website] To reduce the size of this post we will focus on their 3 “main candidates” (External assist Liver, miroliver and mirokidney) as they are most likely to produce some form of catalyst in the foreseeable future. External Assist Liver [source: Miromatrix Investor Presentation] Miromatrix’s External Assist Liver program is the most promising for a near-term catalyst. It is stated on their pipeline table that they expect to initiate phase I clinical trials in the second half of 2022. Now I’ve been trying to find more information on their external assist liver program however their website is decidedly mum on any information. The vast majority of info I have been able to source comes from their 2021 investor presentation, it's a nifty read if you are looking for more information on their products. From what I am able to gather their external assist liver program consists of a machine within which one of their bioengineered livers is kept. The machine is then “hooked up” to a patient so that they can study the efficacy of their bioengineered livers without the need of carrying out a fully fledged transplant.  This should provide them and the FDA with data and hopefully demonstrate that the liver works. If all goes well, Phase I should be initiated in the second half of this year as mentioned previously, with initial data coming in 2023. MiroLiver & MiroKidney [source: Miromatrix’s website] These two programs are their artificial organs, you can guess which organs from their names… I can’t quite understand how phase I clinical trials of the external assist liver will be initiated without the MiroLiver also initiating phase I. Maybe the External liver assist program is actually a liver dialysis machine, I don’t want to speculate too much and sound like an utter moron so I’ll just go with what is presented on their website. You can read up on the MiroKidney and MiroLiver program here on their website. The chart [source: TradingView] On the chart we can clearly see the characteristic biotech decline. MACD seems poised for a crossover and the RSI has bounced from its low. Throw upon it whichever scribbles you feel are the most appropriate… The social side of things  As is advisable when searching for a nice pump it is good practice to delve into the social media sentiment of said companies. We can get a nice view of any buzz going on or lack thereof! I do love a good “undiscovered” biotech lining itself up for a good old pop and Miromatrix may possibly be the most “undiscovered” stock i’ve “discovered”. Over on Stocktwits there are only 64 watchers and from what I can gather from the feed there are no recent human posts at all, only bots! [source: Stocktwits] My very rudimentary twitter analyzer has only turned up 27 recent posts containing “$MIRO”: 12 of which are positive, 9 negative and 6 neutral. So an overall net positive result. [source: Me…] And after trawling around Reddit I found an r/miromatrix subreddit created by the user u/nohPope. The subreddit has a grand total of 4 members. [source: r/miroamatrix] So it seems no one is taking notice of this company, if this is a positive or negative thing I will leave that for you to decide. Magnus’ opinion The set up for a pump seems to be falling nicely into place, cheap, small cap, descent into oblivion, interesting tech, “undiscovered gem” feeling. The volume is dastardly and it could still fall sub $2 before making a comeback.  Nothing extraordinary has happened with their SEC filings. They may pull a card out of their sleeve tomorrow at CareDx’s Xenotransplantation Innovation Day however it seems unlikely. It is probably a better idea to wait for news on the initiation of the phase I trials for their external liver assist program. Around that time if there is an uptick in volume and/or social media buzz we may very well be in for a good ol’ pump (at least to $4), probably followed by an offering to fill the coffers if the stock price gains permit. [source: TradingView] I must admit I feel loath to post this to Utradea as I do believe it will drop before we see a pump, however I can't bring myself to post this in the bearish section… - Magnus Chimpski Recent news 2021 - Miromatrix went public on the 24th of June 2021.  [source: Globe Newswire] - Dr.John Barry became vice president of R&D on the 9th of September 2021.  [source: Yahoo Finance] - Miromatrix was added to the Russell Microcap Index on the 20th of September 2021.  [source: Yahoo Finance] - Miromatrix announced that it had completed the first successful transplant of a bioengineered organ (liver) in a large animal (pig) on the 7th of October 2021.  [source: Yahoo Finance] - Submission of Pre-IND request to the FDA for their Liver Assist Program on the 17th of December 2021. [source: Yahoo Finance] 2022 - Lisa Wipperman Heine & William Burke are added to the board on the 6th of January 2022. [source: Minneapolis Business Journal] - Miromatrix rang the Nasdaq closing bell on National Donor Day, 14th of February 2022. [source: Yahoo Finance] - Participated in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on the 17th of February 2022. [source: Yahoo Finance] - Jim Douglas named as new CFO on the 1st of March 2022. [source: Yahoo Finance] - Miromatrix announces (on the 16th of March 2022) its participation in CareDx’s Xenotransplantation Innovation Day which will take place on the 22nd of March 2022. [source: Yahoo Finance] Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor. Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane. - End of transmission

back

Miromatrix and their bioengineered pig-human hybrid organs 🐷

bullish

Hello once again unknown individuals of the interwebs! Magnus here, how goes the speculation?

*Sips his Pisang Ambon*

Tis' of no importance, let us move on to the matter at hand… Miromatrix!

Who is Miromatrix?

Miromatrix Medical Inc is a relatively young bioengineering company that is “on a mission to eliminate the organ transplant waitlist”, a rather admirable cause if I do say so myself!

They seek to reduce/eliminate said waiting list via a process of decellularization and recellularization of pig organs seeking to make the organs viable for human transplantation.

You may have seen the recent news that a Mr.David Bennett (57 years old) underwent transplant surgery and received a pig's heart. Unfortunately Mr.Bennett passed away two months after the transplant yet it was certainly a large leap in the direction of making transplantable organs available for everyone!
[source: YouTube video]


[source: Miromatrix's website]

At Miromatrix they remove all the pig cells from the organ in question, leaving behind the organs “scaffolding”. Human cells are then added to the scaffolding creating a human-compatible organ. Miromatrix currently focuses on kidneys (MiroKidney) and livers (MiroLiver) but they look to expand their organ program in the future to produce other in-demand organs such as hearts, lungs and other internal organs.
[source: Miromatrix's website]
[source: Vimeo]

[source: Twitter]

Why Miromatrix?

Well my dear smooth brained simian, I will lay it out simple for you, eh?

Right off the bat it turned up during screening. A small micro cap company ($45M) with a small-ish float (13M) given the float and the price shares can be hoovered up quickly!

It IPO'd recently (June 2021) and has already undergone the descent into the depths that all biotechs suffer, dropping from $16.52 right down to $2.31 (roughly -86% decrease in price).

All this makes them seem poised for a quick pump “to infinity and beyond”.

According to their most recent 10-Q, they have $62M in cash and their operating expenses for the three months ending in September is around $5M. Extrapolating that into 12months they should need around $20M per year to run the company. So they should have enough dosh for around 3 years of operation.

This is evidently severely “Dumbing down” the calculation, and assuming that expenses will remain the same as we go into the future, but it at least gives us an idea that they do have some cash on hand.
[source: SEC filing 10-Q]

They also have a plethora of programs in their pipeline, although none are currently in clinical trials which is quite a downer. However, initiating clinical trials may fuel the rocket so to say.

There is also their website, the first and last place that most of the herd will do their “DD”. It's rather nifty, which leads us to Chimpskis' website rating:

[Source: Me…]

The pipeline

As mentioned above, they have quite a few programs in the pipeline, 6 to be precise. Unfortunately none are in clinical trials. 3 (miroheart, mirolung and miropancreas) are undergoing preclinical studies and the other 3 (External assist Liver, miroliver and mirokidney) are undergoing Investigational New Drug (IND) enabling studies.


[source: Miromatrix's website]

To reduce the size of this post we will focus on their 3 “main candidates” (External assist Liver, miroliver and mirokidney) as they are most likely to produce some form of catalyst in the foreseeable future.

External Assist Liver

[source: Miromatrix Investor Presentation]

Miromatrix's External Assist Liver program is the most promising for a near-term catalyst. It is stated on their pipeline table that they expect to initiate phase I clinical trials in the second half of 2022.

Now I've been trying to find more information on their external assist liver program however their website is decidedly mum on any information. The vast majority of info I have been able to source comes from their 2021 investor presentation, it's a nifty read if you are looking for more information on their products.

From what I am able to gather their external assist liver program consists of a machine within which one of their bioengineered livers is kept. The machine is then “hooked up” to a patient so that they can study the efficacy of their bioengineered livers without the need of carrying out a fully fledged transplant.

This should provide them and the FDA with data and hopefully demonstrate that the liver works.

If all goes well, Phase I should be initiated in the second half of this year as mentioned previously, with initial data coming in 2023.

MiroLiver & MiroKidney

[source: Miromatrix's website]

These two programs are their artificial organs, you can guess which organs from their names…

I can't quite understand how phase I clinical trials of the external assist liver will be initiated without the MiroLiver also initiating phase I. Maybe the External liver assist program is actually a liver dialysis machine, I don't want to speculate too much and sound like an utter moron so I'll just go with what is presented on their website.

You can read up on the MiroKidney and MiroLiver program here on their website.

The chart

[source: TradingView]

On the chart we can clearly see the characteristic biotech decline. MACD seems poised for a crossover and the RSI has bounced from its low. Throw upon it whichever scribbles you feel are the most appropriate…

The social side of things

As is advisable when searching for a nice pump it is good practice to delve into the social media sentiment of said companies. We can get a nice view of any buzz going on or lack thereof!

I do love a good “undiscovered” biotech lining itself up for a good old pop and Miromatrix may possibly be the most “undiscovered” stock i've “discovered”.

Over on Stocktwits there are only 64 watchers and from what I can gather from the feed there are no recent human posts at all, only bots!

[source: Stocktwits]

My very rudimentary twitter analyzer has only turned up 27 recent posts containing “$MIRO”: 12 of which are positive, 9 negative and 6 neutral. So an overall net positive result.

[source: Me…]

And after trawling around Reddit I found an r/miromatrix subreddit created by the user u/nohPope. The subreddit has a grand total of 4 members.

[source: r/miroamatrix]

So it seems no one is taking notice of this company, if this is a positive or negative thing I will leave that for you to decide.

Magnus' opinion

The set up for a pump seems to be falling nicely into place, cheap, small cap, descent into oblivion, interesting tech, “undiscovered gem” feeling.

The volume is dastardly and it could still fall sub $2 before making a comeback.

Nothing extraordinary has happened with their SEC filings.

They may pull a card out of their sleeve tomorrow at CareDx's Xenotransplantation Innovation Day however it seems unlikely. It is probably a better idea to wait for news on the initiation of the phase I trials for their external liver assist program. Around that time if there is an uptick in volume and/or social media buzz we may very well be in for a good ol' pump (at least to $4), probably followed by an offering to fill the coffers if the stock price gains permit.

[source: TradingView]

I must admit I feel loath to post this to Utradea as I do believe it will drop before we see a pump, however I can't bring myself to post this in the bearish section…

- Magnus Chimpski



Recent news

2021

- Miromatrix went public on the 24th of June 2021.
[source: Globe Newswire]

- Dr.John Barry became vice president of R&D on the 9th of September 2021.
[source: Yahoo Finance]

- Miromatrix was added to the Russell Microcap Index on the 20th of September 2021.
[source: Yahoo Finance]

- Miromatrix announced that it had completed the first successful transplant of a bioengineered organ (liver) in a large animal (pig) on the 7th of October 2021.
[source: Yahoo Finance]

- Submission of Pre-IND request to the FDA for their Liver Assist Program on the 17th of December 2021.
[source: Yahoo Finance]

2022

- Lisa Wipperman Heine & William Burke are added to the board on the 6th of January 2022.
[source: Minneapolis Business Journal]

- Miromatrix rang the Nasdaq closing bell on National Donor Day, 14th of February 2022.
[source: Yahoo Finance]

- Participated in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on the 17th of February 2022.
[source: Yahoo Finance]

- Jim Douglas named as new CFO on the 1st of March 2022.
[source: Yahoo Finance]

- Miromatrix announces (on the 16th of March 2022) its participation in CareDx's Xenotransplantation Innovation Day which will take place on the 22nd of March 2022.
[source: Yahoo Finance]




Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor.
Magnus is infact a fictitious smooth brained simian of the interwebs, to take advice from an internet monkey would be insane.

- End of transmission

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