I found this interesting because I have no idea how it all works.
Backstory:
So was surfing through some stocks on seekingalpha and came upon OMER(Omeros Corp) who just filed their BLA for a MAB called narsoplimab which has some anti-inflammatory properties through a different MOA (and of course had stellar results for COVID on 6 patients many months back, but they haven't been pursuing that avenue much yet)
Anyway I was reading through the latest conference call script from their mgmt
and in that script they mention having to file for getting an ICD-10. Now when the question was asked in the last CYDY conference call about the insurance code I'm not sure NP understood what was being asked because his reply was to say they don't comment on what the FDA does, but did CYDY have to apply to get that code?
The excerpt from the OMER conference call from the CEO:
So did we have to apply? The way NP likes to PR things you'd think if there was an application/acceptance thing here they would PR that news? Maybe its not a big deal. I don't know, but reading this CC made me wonder how we got ours, if they had to apply to get theirs. I guess I'm more curious now because if the FDA indeed is doing things ahead of time to be more efficient and this had nothing to do with CYDY, that makes it an even more bullish catalyst than I previously thought(to me anyway).
Or I'm just a noob biotech investor and its par for the course.
Backstory:
So was surfing through some stocks on seekingalpha and came upon OMER(Omeros Corp) who just filed their BLA for a MAB called narsoplimab which has some anti-inflammatory properties through a different MOA (and of course had stellar results for COVID on 6 patients many months back, but they haven't been pursuing that avenue much yet)
Anyway I was reading through the latest conference call script from their mgmt
and in that script they mention having to file for getting an ICD-10. Now when the question was asked in the last CYDY conference call about the insurance code I'm not sure NP understood what was being asked because his reply was to say they don't comment on what the FDA does, but did CYDY have to apply to get that code?
The excerpt from the OMER conference call from the CEO:
Quote:"Accomplishments in Q3 included the filing and presentation for our international classification of diseases or ICD-10 coding applications for narsoplimab and for TA-TMA. This enables straightforward reimbursement of the drug.
In September, in a process hosted by CMS, we requested an ICD-10 procedure code for administration of narsoplimab. At that meeting, CMS made a preliminary recommendation to accept the code, and we are awaiting the final decision in early 2021.
We also requested an ICD-10 diagnostic code for TA-TMA from the Centers for Disease Control and Prevention, or CDC. The creation of a diagnostic code would help clinicians payers and others accurately track the incidence and severity of the illness and would likely increase the number of patients who are accurately diagnosed."
So did we have to apply? The way NP likes to PR things you'd think if there was an application/acceptance thing here they would PR that news? Maybe its not a big deal. I don't know, but reading this CC made me wonder how we got ours, if they had to apply to get theirs. I guess I'm more curious now because if the FDA indeed is doing things ahead of time to be more efficient and this had nothing to do with CYDY, that makes it an even more bullish catalyst than I previously thought(to me anyway).
Or I'm just a noob biotech investor and its par for the course.
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