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2021-09-10
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PROCEPT BioRobotics Stock: Surgical Robots For Urology<blockquote>PROCEPT BioRobotics股票：泌尿外科手术机器人</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":883251336,"tweetId":"883251336","gmtCreate":1631247165325,"gmtModify":1631889255115,"author":{"id":3575390834397772,"idStr":"3575390834397772","authorId":3575390834397772,"authorIdStr":"3575390834397772","name":"Tigal80","avatar":"https://static.tigerbbs.com/86f76710483a16eae0642572ffa5f1be","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":11,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>yes</p></body></html>","htmlText":"<html><head></head><body><p>yes</p></body></html>","text":"yes","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/883251336","repostId":1172713798,"repostType":4,"repost":{"id":"1172713798","kind":"news","pubTimestamp":1631245196,"share":"https://www.laohu8.com/m/news/1172713798?lang=zh_CN&edition=full","pubTime":"2021-09-10 11:39","market":"us","language":"en","title":"PROCEPT BioRobotics Stock: Surgical Robots For Urology<blockquote>PROCEPT BioRobotics股票：泌尿外科手术机器人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172713798","media":"nanalyze","summary":"Breaking news this week. Elizabeth Holmes of Theranos is formulating her “bad man made me do it” def","content":"<p>Breaking news this week. Elizabeth Holmes of Theranos is formulating her “bad man made me do it” defense, and her attorneys are considering whether or not she should take the stand. Having her stare at the jury with those Manson lamps while articulating, in that truck-driver voice, why her behavior wasn’t totally psychopathic makes about as much sense as trying to invade Russia in wintertime.</p><p><blockquote>本周突发新闻。Theranos的伊丽莎白·霍姆斯(Elizabeth Holmes)正在制定她的“坏人让我这么做”辩护，她的律师正在考虑她是否应该出庭作证。让她拿着曼森灯盯着陪审团，同时用卡车司机的声音阐明为什么她的行为不完全是精神变态，这就像试图在冬天入侵俄罗斯一样有意义。</blockquote></p><p> Theranos was able to dupe some of the world’s most sophisticated investors because early-stage investments are often nothing but exciting stories investors believe in. The only way to demonstrate product-market fit is by showing meaningful revenues, a number we’ve pegged at $10 million annually. You can avoid Theranos types by only investing in firms with meaningful revenues. Today’s company, PROCEPT BioRobotics, just broke through that threshold halfway through this year by selling the first FDA-granted robotic surgery platform for the treatment of enlarged prostates. And now, they’re going public.</p><p><blockquote>Theranos能够欺骗世界上一些最老练的投资者，因为早期投资往往只不过是投资者相信的激动人心的故事。展示产品与市场契合度的唯一方法是展示有意义的收入，我们预计这个数字为每年1000万美元。你可以通过只投资有意义收入的公司来避免Theranos类型的公司。今天的公司PROCEPT BioRobotics在今年年中刚刚突破了这一门槛，出售了第一个获得FDA批准的用于治疗前列腺肥大的机器人手术平台。现在，他们要上市了。</blockquote></p><p> About PROCEPT BioRobotics Stock<img src=\"https://static.tigerbbs.com/4a3ca7fe6960f5b129738db3f1f324e9\" tg-width=\"160\" tg-height=\"48\" referrerpolicy=\"no-referrer\"></p><p><blockquote>关于PROCEPT BioRobotics股票</blockquote></p><p> We first came across PROCEPT BioRobotics around four years ago when we wrote about <b>8 Types of Robotic Surgery Being Used Today</b>. Since then, the company raised several more rounds of funding bringing their total disclosed funding to<b>$363 million</b>. In order to understand the problem they’re trying to solve, we need to discuss the basics.</p><p><blockquote>大约四年前，我们第一次遇到PROCEPT BioRobotics，当时我们写了<b>目前正在使用的8种机器人手术</b>此后，该公司又筹集了几轮融资，使其披露的融资总额达到<b>3.63亿美元</b>为了理解他们试图解决的问题，我们需要讨论一下基础知识。</blockquote></p><p> A Growing Problem</p><p><blockquote>日益严重的问题</blockquote></p><p> The prostate is a small gland in the male reproductive system that produces the fluid that protects and gives nutrients to sperm. As men age, the prostate grows larger, doubling in size between the ages of 21 and 50 years, and almost doubling again in size between the ages of 50 and 80 years. As the prostate enlarges, a condition can occur called <b>b</b>enign <b>p</b>rostatic <b>h</b>yperplasia (<b>BPH</b>). This is when the prostate gland presses against the urethra, which can obstruct or restrict the flow of urine from the bladder.</p><p><blockquote>前列腺是男性生殖系统中的一个小腺体，产生保护精子并为精子提供营养的液体。随着男性年龄的增长，前列腺变大，在21岁至50岁之间体积翻倍，在50岁至80岁之间体积几乎再次翻倍。当前列腺增大时，会出现一种称为<b>b</b>工程<b>p</b>静态的<b>h</b>增生（<b>前列腺增生</b>).这是当前列腺压在尿道上时，这会阻碍或限制尿液从膀胱流出。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c26ffb2cde2e63af8ed606c1a993b492\" tg-width=\"750\" tg-height=\"232\" referrerpolicy=\"no-referrer\">Normal prostate vs. enlarged prostate – Credit: PROCEPT BioRobotics</p><p><blockquote>正常前列腺与前列腺肥大-图片来源：PROCEPT BioRobotics</blockquote></p><p> BPH is the most common prostate disease and impacts approximately 40 million men in the United States. Drug therapy is often the first step in actively treating mild-to-moderate symptoms of BPH, but fails in up to 30% of men within two years. It’s also the more costly treatment option. When drug therapy fails, surgery is often the next alternative with approximately 400,000 BPH surgeries performed in the United States in 2019. Most use heat-based methods to reduce the prostate with three types of surgery accounting for the majority of BHP-related surgeries:</p><p><blockquote>BPH是最常见的前列腺疾病，在美国影响大约4000万男性。药物治疗通常是积极治疗轻度至中度BPH症状的第一步，但高达30%的男性在两年内失败。这也是更昂贵的治疗方案。当药物治疗失败时，手术通常是下一个选择，2019年美国进行了约40万例前列腺增生手术。大多数使用基于热量的方法来缩小前列腺，其中三种类型的手术占BHP相关手术的大多数：</blockquote></p><p> <ul> <li><b>T</b>rans<b>U</b>rethral <b>R</b>esection of the <b>P</b>rostate (<b>TURP</b>) – Uses electrocautery to cut and remove prostate tissue. Used for over a century. (<i>33.75% of 2019 BPH surgeries</i>.)</li> <li><b>P</b>hotoselective<b>V</b>aporization of the <b>P</b>rostate (<b>PVP</b>) – A laser fiber vaporizes prostate tissue sequentially outwards. (<i>20% of 2019 BPH surgeries</i>.)</li> <li>Laser Enucleation of the Prostate – Uses a surgical laser to manually resect prostate tissue through the urethra. (<i>7.5% of 2019 BPH surgeries</i>.)</li> </ul> All three types of surgeries have <i>high rates of irreversible complications.</i>Published studies have shown rates of erectile dysfunction as high as 14%, 20%, and 8%, ejaculatory dysfunction as high as 89%, 50%, and 77%, and incontinence as high as 2%, 2%, and 33% for TURP, PVP, and laser enucleation, respectively.</p><p><blockquote><ul><li><b>T</b>兰斯<b>U</b>尿道<b>R</b>的部分<b>P</b>罗斯塔特（<b>萝卜</b>）-使用电灼术切割和切除前列腺组织。使用了一个多世纪。（<i>2019年前列腺增生手术的33.75%</i>.)</li><li><b>P</b>热选择性<b>V</b>的化<b>P</b>罗斯塔特（<b>PVP</b>)-激光光纤依次向外汽化前列腺组织。(<i>2019年前列腺增生手术的20%</i>.)</li><li>激光前列腺摘除术——使用外科激光通过尿道手动切除前列腺组织。（<i>2019年前列腺增生手术的7.5%</i>.)</li></ul>这三种手术都有<i>不可逆并发症发生率高。</i>已发表的研究显示，TURP、PVP和激光剜除术的勃起功能障碍发生率分别高达14%、20%和8%，射精功能障碍发生率高达89%、50%和77%，尿失禁发生率高达2%、2%和33%。</blockquote></p><p> If there’s a one in five chance you’ll experience erectile dysfunction after a procedure, you’d be pretty keen on an alternative. Enter AquaBeam, a platform that doesn’t use heat, and consequently, has had very low complication rates.</p><p><blockquote>如果你在手术后有五分之一的机会出现勃起功能障碍，你会非常热衷于另一种选择。AquaBeam是一个不使用热量的平台，因此并发症发生率非常低。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1c0d599c5be7672af782f3a081518d6\" tg-width=\"730\" tg-height=\"552\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRoboticsAquaBeam Robotic Systems</p><p><blockquote>图片来源：PROCEPT BioRoboticsAquaBeam机器人系统</blockquote></p><p> PROCEPT has developed the first and only image-guided, heat-free robotic therapy for the treatment of<b>l</b>ower<b>u</b>rinary<b>t</b>ract<b>s</b>ymptoms (<b>LUTS</b>) due to BPH. Here’s what the entire platform looks like.</p><p><blockquote>PROCEPT开发了第一个也是唯一一个图像引导、无热机器人疗法，用于治疗<b>l</b>ower<b>u</b>里纳里<b>t</b>ract<b>s</b>症状（<b>卢茨</b>）由于前列腺增生。这是整个平台的样子。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fab8c5730daa785fcb562d2ba28a8f0\" tg-width=\"750\" tg-height=\"704\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRobotics</p><p><blockquote>图片来源：PROCEPT生物机器人</blockquote></p><p></p><p> The AquaBeam Handpiece seen above is a wand that’s inserted in the patient’s urethra and proceeds to cut tissue off the prostate using a pressurized jet of fluid in a procedure that typically takes less than one hour. The surgeon plans the procedure beforehand using real-time imagery, and then the platform executes the procedure while the surgeon looks on.</p><p><blockquote>上面看到的AquaBeam手机是一根插入患者尿道的棒，使用加压流体射流从前列腺上切割组织，过程通常需要不到一个小时。外科医生使用实时图像预先计划手术，然后平台在外科医生的注视下执行手术。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6fb5613598a9042fa41faf6e8a73fe25\" tg-width=\"750\" tg-height=\"622\" referrerpolicy=\"no-referrer\">The AquaBeam Conformal Planning Unit – PROCEPT BioRobotics</p><p><blockquote>AquaBeam保形规划单元-PROCEPT BioRobotics</blockquote></p><p> Nine clinical studies and over 100 peer-reviewed publications. have shown how the process is safer (<i>far fewer complications</i>) while also being more effective (<i>better symptom relief</i>).</p><p><blockquote>九项临床研究和100多篇同行评审出版物。已经展示了该过程如何更安全（<i>并发症少得多</i>)同时也更有效(<i>更好地缓解症状</i>).</blockquote></p><p> <b>TAM and Revenues</b></p><p><blockquote><b>TAM和收入</b></blockquote></p><p> The company estimates their <b>t</b>otal <b>a</b>ddressable <b>m</b>arket (<b>TAM</b>) to be around $20 billion “based on the average selling price of our single-use handpiece” which implies a $50,000 consumable cost per procedure. Below, you can see what the consumable looks like (<i>it’s the wand-looking thing</i>):</p><p><blockquote>公司估计其<b>t</b>奥塔尔<b>一个</b>可寻址<b>米</b>市场（<b>TAM</b>）约为200亿美元，“基于我们一次性手机的平均售价”，这意味着每次手术的消耗品成本为50,000美元。下面，您可以看到耗材的样子（<i>是那个看起来像魔杖的东西</i>):</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b71f4c4cdb01faf190c1d2dc13436d34\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\">The consumable element of the AquaBeam – Credit: PROCEPT BioRobotics</p><p><blockquote>AquaBeam的可消耗元件-图片来源：PROCEPT BioRobotics</blockquote></p><p> Since they’re only using the cost of the consumable to calculate TAM, that’s a pretty promising opportunity. If their platform was only used for 10% of all BPH surgeries, that’s still a multi-billion dollar business.</p><p><blockquote>由于他们仅使用消耗品的成本来计算TAM，因此这是一个非常有前途的机会。如果他们的平台只用于10%的前列腺增生手术，那仍然是一个数十亿美元的生意。</blockquote></p><p> As of June 30, 2021, Aquablation therapy has been utilized in the treatment of more than 5,500 patients. The first six months of this year saw 82% of sales coming from the United States with around 30% of revenues coming from consumables.</p><p><blockquote>截至2021年6月30日，Aquablation疗法已用于治疗5500多名患者。今年前六个月，82%的销售额来自美国，约30%的收入来自消耗品。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/448c2a3c4f61fe50eb11f115fe2a4f91\" tg-width=\"750\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRoboticsShould You Buy PROCEPT BioRobotics stock?</p><p><blockquote>图片来源：PROCEPT BioRobotics您应该购买PROCEPT BioRobotics股票吗？</blockquote></p><p> In March 2021, Frederick Moll assumed the role of Chairman of the Board for PROCEPT. He’s the man who founded robotic surgery darling Intuitive Surgical (ISRG) which is now a $123 billion company. For him to assume that role means he sees a lot of potential in the company. Even if the company is moderately successful, they’ll make a great bolt-on acquisition for a large medical device company likeMedtronicorStrykerwho are increasingly dabbling insurgical robotics.</p><p><blockquote>2021年3月，Frederick Moll担任PROCEPT董事会主席。他是机器人手术宠儿Intuitive Surgical(ISRG)的创始人，该公司现已成为一家价值1230亿美元的公司。对他来说，担任这个角色意味着他看到了公司的巨大潜力。即使该公司取得了一定的成功，他们也会对像MedtronicorStryker这样越来越多地涉足外科机器人技术的大型医疗设备公司进行一次很好的补充收购。</blockquote></p><p> Even without knowing the terms of the IPO, we can still figure out what a fair price for shares might be. Here’s a look at how Intuitive Surgical is priced usingour simple valuation ratio:</p><p><blockquote>即使不知道首次公开募股的条款，我们仍然可以计算出股票的合理价格。以下是Intuitive Surgical如何使用我们的简单估值比率进行定价：</blockquote></p><p> <ul> <li>Market cap / annualized revenues</li> <li>$123 billion / $6 billion =<b>20</b></li> </ul> We won’t invest in any company with a valuation ratio over 40, so Intuitive Surgical wouldn’t be considered overvalued based on that metric. We can now look at what market cap PROCEPT BioRobotics would command using the same ratio and our upper limit:</p><p><blockquote><ul><li>市值/年化收入</li><li>1230亿美元/60亿美元=<b>20</b></li></ul>我们不会投资任何估值比率超过40的公司，因此根据该指标，Intuitive Surgical不会被认为估值过高。我们现在可以看看PROCEPT BioRobotics使用相同的比率和我们的上限将获得多少市值：</blockquote></p><p> <ul> <li><b>$626.72 million</b>/ 20 = $31.336 million</li> <li><b>$1.25 billion</b>/ 40 = $31.336 million</li> </ul> Once shares begin to trade, we can then calculate market cap. If it’s more than $1.25 billion, it’s just too richly valued to find a home in our portfolio.</p><p><blockquote><ul><li><b>6.2672亿美元</b>/20=$3133.6万</li><li><b>12.5亿美元</b>/40=$3133.6万</li></ul>一旦股票开始交易，我们就可以计算市值。如果它超过12.5亿美元，那么它的价值就太高了，无法在我们的投资组合中找到一个家。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Knowing that Dr. Moll is the CEO’s boss helps give us the confidence that they’ll be able to navigate the complexity of bringing a sophisticated device to the medical community. Traction in the form of meaningful revenues shows that the medical community finds value in the platform. If we decide to add this pure-playrobotic surgery stocktoour own +30 tech stock portfolio, Nanalyze Premium subscribers will receive an email alert.</p><p><blockquote>知道摩尔博士是首席执行官的老板有助于我们相信他们能够应对将复杂设备引入医学界的复杂性。有意义的收入形式的牵引力表明医学界在该平台中发现了价值。如果我们决定将这只纯粹的机器人手术股票添加到我们自己的+30科技股投资组合中，Nanalyze Premium订阅者将收到电子邮件提醒。</blockquote></p><p> Should the IPO go through as planned, shares of PROCEPT BioRobotics will trade under the ticker PRCT.</p><p><blockquote>如果IPO按计划进行，PROCEPT BioRobotics的股票将以股票代码PRCT交易。</blockquote></p><p></p>","source":"lsy1607404209868","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PROCEPT BioRobotics Stock: Surgical Robots For Urology<blockquote>PROCEPT BioRobotics股票：泌尿外科手术机器人</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPROCEPT BioRobotics Stock: Surgical Robots For Urology<blockquote>PROCEPT BioRobotics股票：泌尿外科手术机器人</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">nanalyze</strong><span class=\"h-time small\">2021-09-10 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Breaking news this week. Elizabeth Holmes of Theranos is formulating her “bad man made me do it” defense, and her attorneys are considering whether or not she should take the stand. Having her stare at the jury with those Manson lamps while articulating, in that truck-driver voice, why her behavior wasn’t totally psychopathic makes about as much sense as trying to invade Russia in wintertime.</p><p><blockquote>本周突发新闻。Theranos的伊丽莎白·霍姆斯(Elizabeth Holmes)正在制定她的“坏人让我这么做”辩护，她的律师正在考虑她是否应该出庭作证。让她拿着曼森灯盯着陪审团，同时用卡车司机的声音阐明为什么她的行为不完全是精神变态，这就像试图在冬天入侵俄罗斯一样有意义。</blockquote></p><p> Theranos was able to dupe some of the world’s most sophisticated investors because early-stage investments are often nothing but exciting stories investors believe in. The only way to demonstrate product-market fit is by showing meaningful revenues, a number we’ve pegged at $10 million annually. You can avoid Theranos types by only investing in firms with meaningful revenues. Today’s company, PROCEPT BioRobotics, just broke through that threshold halfway through this year by selling the first FDA-granted robotic surgery platform for the treatment of enlarged prostates. And now, they’re going public.</p><p><blockquote>Theranos能够欺骗世界上一些最老练的投资者，因为早期投资往往只不过是投资者相信的激动人心的故事。展示产品与市场契合度的唯一方法是展示有意义的收入，我们预计这个数字为每年1000万美元。你可以通过只投资有意义收入的公司来避免Theranos类型的公司。今天的公司PROCEPT BioRobotics在今年年中刚刚突破了这一门槛，出售了第一个获得FDA批准的用于治疗前列腺肥大的机器人手术平台。现在，他们要上市了。</blockquote></p><p> About PROCEPT BioRobotics Stock<img src=\"https://static.tigerbbs.com/4a3ca7fe6960f5b129738db3f1f324e9\" tg-width=\"160\" tg-height=\"48\" referrerpolicy=\"no-referrer\"></p><p><blockquote>关于PROCEPT BioRobotics股票</blockquote></p><p> We first came across PROCEPT BioRobotics around four years ago when we wrote about <b>8 Types of Robotic Surgery Being Used Today</b>. Since then, the company raised several more rounds of funding bringing their total disclosed funding to<b>$363 million</b>. In order to understand the problem they’re trying to solve, we need to discuss the basics.</p><p><blockquote>大约四年前，我们第一次遇到PROCEPT BioRobotics，当时我们写了<b>目前正在使用的8种机器人手术</b>此后，该公司又筹集了几轮融资，使其披露的融资总额达到<b>3.63亿美元</b>为了理解他们试图解决的问题，我们需要讨论一下基础知识。</blockquote></p><p> A Growing Problem</p><p><blockquote>日益严重的问题</blockquote></p><p> The prostate is a small gland in the male reproductive system that produces the fluid that protects and gives nutrients to sperm. As men age, the prostate grows larger, doubling in size between the ages of 21 and 50 years, and almost doubling again in size between the ages of 50 and 80 years. As the prostate enlarges, a condition can occur called <b>b</b>enign <b>p</b>rostatic <b>h</b>yperplasia (<b>BPH</b>). This is when the prostate gland presses against the urethra, which can obstruct or restrict the flow of urine from the bladder.</p><p><blockquote>前列腺是男性生殖系统中的一个小腺体，产生保护精子并为精子提供营养的液体。随着男性年龄的增长，前列腺变大，在21岁至50岁之间体积翻倍，在50岁至80岁之间体积几乎再次翻倍。当前列腺增大时，会出现一种称为<b>b</b>工程<b>p</b>静态的<b>h</b>增生（<b>前列腺增生</b>).这是当前列腺压在尿道上时，这会阻碍或限制尿液从膀胱流出。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c26ffb2cde2e63af8ed606c1a993b492\" tg-width=\"750\" tg-height=\"232\" referrerpolicy=\"no-referrer\">Normal prostate vs. enlarged prostate – Credit: PROCEPT BioRobotics</p><p><blockquote>正常前列腺与前列腺肥大-图片来源：PROCEPT BioRobotics</blockquote></p><p> BPH is the most common prostate disease and impacts approximately 40 million men in the United States. Drug therapy is often the first step in actively treating mild-to-moderate symptoms of BPH, but fails in up to 30% of men within two years. It’s also the more costly treatment option. When drug therapy fails, surgery is often the next alternative with approximately 400,000 BPH surgeries performed in the United States in 2019. Most use heat-based methods to reduce the prostate with three types of surgery accounting for the majority of BHP-related surgeries:</p><p><blockquote>BPH是最常见的前列腺疾病，在美国影响大约4000万男性。药物治疗通常是积极治疗轻度至中度BPH症状的第一步，但高达30%的男性在两年内失败。这也是更昂贵的治疗方案。当药物治疗失败时，手术通常是下一个选择，2019年美国进行了约40万例前列腺增生手术。大多数使用基于热量的方法来缩小前列腺，其中三种类型的手术占BHP相关手术的大多数：</blockquote></p><p> <ul> <li><b>T</b>rans<b>U</b>rethral <b>R</b>esection of the <b>P</b>rostate (<b>TURP</b>) – Uses electrocautery to cut and remove prostate tissue. Used for over a century. (<i>33.75% of 2019 BPH surgeries</i>.)</li> <li><b>P</b>hotoselective<b>V</b>aporization of the <b>P</b>rostate (<b>PVP</b>) – A laser fiber vaporizes prostate tissue sequentially outwards. (<i>20% of 2019 BPH surgeries</i>.)</li> <li>Laser Enucleation of the Prostate – Uses a surgical laser to manually resect prostate tissue through the urethra. (<i>7.5% of 2019 BPH surgeries</i>.)</li> </ul> All three types of surgeries have <i>high rates of irreversible complications.</i>Published studies have shown rates of erectile dysfunction as high as 14%, 20%, and 8%, ejaculatory dysfunction as high as 89%, 50%, and 77%, and incontinence as high as 2%, 2%, and 33% for TURP, PVP, and laser enucleation, respectively.</p><p><blockquote><ul><li><b>T</b>兰斯<b>U</b>尿道<b>R</b>的部分<b>P</b>罗斯塔特（<b>萝卜</b>）-使用电灼术切割和切除前列腺组织。使用了一个多世纪。（<i>2019年前列腺增生手术的33.75%</i>.)</li><li><b>P</b>热选择性<b>V</b>的化<b>P</b>罗斯塔特（<b>PVP</b>)-激光光纤依次向外汽化前列腺组织。(<i>2019年前列腺增生手术的20%</i>.)</li><li>激光前列腺摘除术——使用外科激光通过尿道手动切除前列腺组织。（<i>2019年前列腺增生手术的7.5%</i>.)</li></ul>这三种手术都有<i>不可逆并发症发生率高。</i>已发表的研究显示，TURP、PVP和激光剜除术的勃起功能障碍发生率分别高达14%、20%和8%，射精功能障碍发生率高达89%、50%和77%，尿失禁发生率高达2%、2%和33%。</blockquote></p><p> If there’s a one in five chance you’ll experience erectile dysfunction after a procedure, you’d be pretty keen on an alternative. Enter AquaBeam, a platform that doesn’t use heat, and consequently, has had very low complication rates.</p><p><blockquote>如果你在手术后有五分之一的机会出现勃起功能障碍，你会非常热衷于另一种选择。AquaBeam是一个不使用热量的平台，因此并发症发生率非常低。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1c0d599c5be7672af782f3a081518d6\" tg-width=\"730\" tg-height=\"552\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRoboticsAquaBeam Robotic Systems</p><p><blockquote>图片来源：PROCEPT BioRoboticsAquaBeam机器人系统</blockquote></p><p> PROCEPT has developed the first and only image-guided, heat-free robotic therapy for the treatment of<b>l</b>ower<b>u</b>rinary<b>t</b>ract<b>s</b>ymptoms (<b>LUTS</b>) due to BPH. Here’s what the entire platform looks like.</p><p><blockquote>PROCEPT开发了第一个也是唯一一个图像引导、无热机器人疗法，用于治疗<b>l</b>ower<b>u</b>里纳里<b>t</b>ract<b>s</b>症状（<b>卢茨</b>）由于前列腺增生。这是整个平台的样子。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8fab8c5730daa785fcb562d2ba28a8f0\" tg-width=\"750\" tg-height=\"704\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRobotics</p><p><blockquote>图片来源：PROCEPT生物机器人</blockquote></p><p></p><p> The AquaBeam Handpiece seen above is a wand that’s inserted in the patient’s urethra and proceeds to cut tissue off the prostate using a pressurized jet of fluid in a procedure that typically takes less than one hour. The surgeon plans the procedure beforehand using real-time imagery, and then the platform executes the procedure while the surgeon looks on.</p><p><blockquote>上面看到的AquaBeam手机是一根插入患者尿道的棒，使用加压流体射流从前列腺上切割组织，过程通常需要不到一个小时。外科医生使用实时图像预先计划手术，然后平台在外科医生的注视下执行手术。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6fb5613598a9042fa41faf6e8a73fe25\" tg-width=\"750\" tg-height=\"622\" referrerpolicy=\"no-referrer\">The AquaBeam Conformal Planning Unit – PROCEPT BioRobotics</p><p><blockquote>AquaBeam保形规划单元-PROCEPT BioRobotics</blockquote></p><p> Nine clinical studies and over 100 peer-reviewed publications. have shown how the process is safer (<i>far fewer complications</i>) while also being more effective (<i>better symptom relief</i>).</p><p><blockquote>九项临床研究和100多篇同行评审出版物。已经展示了该过程如何更安全（<i>并发症少得多</i>)同时也更有效(<i>更好地缓解症状</i>).</blockquote></p><p> <b>TAM and Revenues</b></p><p><blockquote><b>TAM和收入</b></blockquote></p><p> The company estimates their <b>t</b>otal <b>a</b>ddressable <b>m</b>arket (<b>TAM</b>) to be around $20 billion “based on the average selling price of our single-use handpiece” which implies a $50,000 consumable cost per procedure. Below, you can see what the consumable looks like (<i>it’s the wand-looking thing</i>):</p><p><blockquote>公司估计其<b>t</b>奥塔尔<b>一个</b>可寻址<b>米</b>市场（<b>TAM</b>）约为200亿美元，“基于我们一次性手机的平均售价”，这意味着每次手术的消耗品成本为50,000美元。下面，您可以看到耗材的样子（<i>是那个看起来像魔杖的东西</i>):</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b71f4c4cdb01faf190c1d2dc13436d34\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\">The consumable element of the AquaBeam – Credit: PROCEPT BioRobotics</p><p><blockquote>AquaBeam的可消耗元件-图片来源：PROCEPT BioRobotics</blockquote></p><p> Since they’re only using the cost of the consumable to calculate TAM, that’s a pretty promising opportunity. If their platform was only used for 10% of all BPH surgeries, that’s still a multi-billion dollar business.</p><p><blockquote>由于他们仅使用消耗品的成本来计算TAM，因此这是一个非常有前途的机会。如果他们的平台只用于10%的前列腺增生手术，那仍然是一个数十亿美元的生意。</blockquote></p><p> As of June 30, 2021, Aquablation therapy has been utilized in the treatment of more than 5,500 patients. The first six months of this year saw 82% of sales coming from the United States with around 30% of revenues coming from consumables.</p><p><blockquote>截至2021年6月30日，Aquablation疗法已用于治疗5500多名患者。今年前六个月，82%的销售额来自美国，约30%的收入来自消耗品。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/448c2a3c4f61fe50eb11f115fe2a4f91\" tg-width=\"750\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Credit: PROCEPT BioRoboticsShould You Buy PROCEPT BioRobotics stock?</p><p><blockquote>图片来源：PROCEPT BioRobotics您应该购买PROCEPT BioRobotics股票吗？</blockquote></p><p> In March 2021, Frederick Moll assumed the role of Chairman of the Board for PROCEPT. He’s the man who founded robotic surgery darling Intuitive Surgical (ISRG) which is now a $123 billion company. For him to assume that role means he sees a lot of potential in the company. Even if the company is moderately successful, they’ll make a great bolt-on acquisition for a large medical device company likeMedtronicorStrykerwho are increasingly dabbling insurgical robotics.</p><p><blockquote>2021年3月，Frederick Moll担任PROCEPT董事会主席。他是机器人手术宠儿Intuitive Surgical(ISRG)的创始人，该公司现已成为一家价值1230亿美元的公司。对他来说，担任这个角色意味着他看到了公司的巨大潜力。即使该公司取得了一定的成功，他们也会对像MedtronicorStryker这样越来越多地涉足外科机器人技术的大型医疗设备公司进行一次很好的补充收购。</blockquote></p><p> Even without knowing the terms of the IPO, we can still figure out what a fair price for shares might be. Here’s a look at how Intuitive Surgical is priced usingour simple valuation ratio:</p><p><blockquote>即使不知道首次公开募股的条款，我们仍然可以计算出股票的合理价格。以下是Intuitive Surgical如何使用我们的简单估值比率进行定价：</blockquote></p><p> <ul> <li>Market cap / annualized revenues</li> <li>$123 billion / $6 billion =<b>20</b></li> </ul> We won’t invest in any company with a valuation ratio over 40, so Intuitive Surgical wouldn’t be considered overvalued based on that metric. We can now look at what market cap PROCEPT BioRobotics would command using the same ratio and our upper limit:</p><p><blockquote><ul><li>市值/年化收入</li><li>1230亿美元/60亿美元=<b>20</b></li></ul>我们不会投资任何估值比率超过40的公司，因此根据该指标，Intuitive Surgical不会被认为估值过高。我们现在可以看看PROCEPT BioRobotics使用相同的比率和我们的上限将获得多少市值：</blockquote></p><p> <ul> <li><b>$626.72 million</b>/ 20 = $31.336 million</li> <li><b>$1.25 billion</b>/ 40 = $31.336 million</li> </ul> Once shares begin to trade, we can then calculate market cap. If it’s more than $1.25 billion, it’s just too richly valued to find a home in our portfolio.</p><p><blockquote><ul><li><b>6.2672亿美元</b>/20=$3133.6万</li><li><b>12.5亿美元</b>/40=$3133.6万</li></ul>一旦股票开始交易，我们就可以计算市值。如果它超过12.5亿美元，那么它的价值就太高了，无法在我们的投资组合中找到一个家。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Knowing that Dr. Moll is the CEO’s boss helps give us the confidence that they’ll be able to navigate the complexity of bringing a sophisticated device to the medical community. Traction in the form of meaningful revenues shows that the medical community finds value in the platform. If we decide to add this pure-playrobotic surgery stocktoour own +30 tech stock portfolio, Nanalyze Premium subscribers will receive an email alert.</p><p><blockquote>知道摩尔博士是首席执行官的老板有助于我们相信他们能够应对将复杂设备引入医学界的复杂性。有意义的收入形式的牵引力表明医学界在该平台中发现了价值。如果我们决定将这只纯粹的机器人手术股票添加到我们自己的+30科技股投资组合中，Nanalyze Premium订阅者将收到电子邮件提醒。</blockquote></p><p> Should the IPO go through as planned, shares of PROCEPT BioRobotics will trade under the ticker PRCT.</p><p><blockquote>如果IPO按计划进行，PROCEPT BioRobotics的股票将以股票代码PRCT交易。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nanalyze.com/2021/08/procept-biorobotics-stock/\">nanalyze</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"PRCT":"PROCEPT BioRobotics"},"source_url":"https://www.nanalyze.com/2021/08/procept-biorobotics-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172713798","content_text":"Breaking news this week. Elizabeth Holmes of Theranos is formulating her “bad man made me do it” defense, and her attorneys are considering whether or not she should take the stand. Having her stare at the jury with those Manson lamps while articulating, in that truck-driver voice, why her behavior wasn’t totally psychopathic makes about as much sense as trying to invade Russia in wintertime.\nTheranos was able to dupe some of the world’s most sophisticated investors because early-stage investments are often nothing but exciting stories investors believe in. The only way to demonstrate product-market fit is by showing meaningful revenues, a number we’ve pegged at $10 million annually. You can avoid Theranos types by only investing in firms with meaningful revenues. Today’s company, PROCEPT BioRobotics, just broke through that threshold halfway through this year by selling the first FDA-granted robotic surgery platform for the treatment of enlarged prostates. And now, they’re going public.\nAbout PROCEPT BioRobotics Stock\nWe first came across PROCEPT BioRobotics around four years ago when we wrote about 8 Types of Robotic Surgery Being Used Today. Since then, the company raised several more rounds of funding bringing their total disclosed funding to$363 million. In order to understand the problem they’re trying to solve, we need to discuss the basics.\nA Growing Problem\nThe prostate is a small gland in the male reproductive system that produces the fluid that protects and gives nutrients to sperm. As men age, the prostate grows larger, doubling in size between the ages of 21 and 50 years, and almost doubling again in size between the ages of 50 and 80 years. As the prostate enlarges, a condition can occur called benign prostatic hyperplasia (BPH). This is when the prostate gland presses against the urethra, which can obstruct or restrict the flow of urine from the bladder.\nNormal prostate vs. enlarged prostate – Credit: PROCEPT BioRobotics\nBPH is the most common prostate disease and impacts approximately 40 million men in the United States. Drug therapy is often the first step in actively treating mild-to-moderate symptoms of BPH, but fails in up to 30% of men within two years. It’s also the more costly treatment option. When drug therapy fails, surgery is often the next alternative with approximately 400,000 BPH surgeries performed in the United States in 2019. Most use heat-based methods to reduce the prostate with three types of surgery accounting for the majority of BHP-related surgeries:\n\nTransUrethral Resection of the Prostate (TURP) – Uses electrocautery to cut and remove prostate tissue. Used for over a century. (33.75% of 2019 BPH surgeries.)\nPhotoselectiveVaporization of the Prostate (PVP) – A laser fiber vaporizes prostate tissue sequentially outwards. (20% of 2019 BPH surgeries.)\nLaser Enucleation of the Prostate – Uses a surgical laser to manually resect prostate tissue through the urethra. (7.5% of 2019 BPH surgeries.)\n\nAll three types of surgeries have high rates of irreversible complications.Published studies have shown rates of erectile dysfunction as high as 14%, 20%, and 8%, ejaculatory dysfunction as high as 89%, 50%, and 77%, and incontinence as high as 2%, 2%, and 33% for TURP, PVP, and laser enucleation, respectively.\nIf there’s a one in five chance you’ll experience erectile dysfunction after a procedure, you’d be pretty keen on an alternative. Enter AquaBeam, a platform that doesn’t use heat, and consequently, has had very low complication rates.\nCredit: PROCEPT BioRoboticsAquaBeam Robotic Systems\nPROCEPT has developed the first and only image-guided, heat-free robotic therapy for the treatment oflowerurinarytractsymptoms (LUTS) due to BPH. Here’s what the entire platform looks like.\nCredit: PROCEPT BioRobotics\nThe AquaBeam Handpiece seen above is a wand that’s inserted in the patient’s urethra and proceeds to cut tissue off the prostate using a pressurized jet of fluid in a procedure that typically takes less than one hour. The surgeon plans the procedure beforehand using real-time imagery, and then the platform executes the procedure while the surgeon looks on.\nThe AquaBeam Conformal Planning Unit – PROCEPT BioRobotics\nNine clinical studies and over 100 peer-reviewed publications. have shown how the process is safer (far fewer complications) while also being more effective (better symptom relief).\nTAM and Revenues\nThe company estimates their total addressable market (TAM) to be around $20 billion “based on the average selling price of our single-use handpiece” which implies a $50,000 consumable cost per procedure. Below, you can see what the consumable looks like (it’s the wand-looking thing):\nThe consumable element of the AquaBeam – Credit: PROCEPT BioRobotics\nSince they’re only using the cost of the consumable to calculate TAM, that’s a pretty promising opportunity. If their platform was only used for 10% of all BPH surgeries, that’s still a multi-billion dollar business.\nAs of June 30, 2021, Aquablation therapy has been utilized in the treatment of more than 5,500 patients. The first six months of this year saw 82% of sales coming from the United States with around 30% of revenues coming from consumables.\nCredit: PROCEPT BioRoboticsShould You Buy PROCEPT BioRobotics stock?\nIn March 2021, Frederick Moll assumed the role of Chairman of the Board for PROCEPT. He’s the man who founded robotic surgery darling Intuitive Surgical (ISRG) which is now a $123 billion company. For him to assume that role means he sees a lot of potential in the company. Even if the company is moderately successful, they’ll make a great bolt-on acquisition for a large medical device company likeMedtronicorStrykerwho are increasingly dabbling insurgical robotics.\nEven without knowing the terms of the IPO, we can still figure out what a fair price for shares might be. Here’s a look at how Intuitive Surgical is priced usingour simple valuation ratio:\n\nMarket cap / annualized revenues\n$123 billion / $6 billion =20\n\nWe won’t invest in any company with a valuation ratio over 40, so Intuitive Surgical wouldn’t be considered overvalued based on that metric. We can now look at what market cap PROCEPT BioRobotics would command using the same ratio and our upper limit:\n\n$626.72 million/ 20 = $31.336 million\n$1.25 billion/ 40 = $31.336 million\n\nOnce shares begin to trade, we can then calculate market cap. If it’s more than $1.25 billion, it’s just too richly valued to find a home in our portfolio.\nConclusion\nKnowing that Dr. Moll is the CEO’s boss helps give us the confidence that they’ll be able to navigate the complexity of bringing a sophisticated device to the medical community. Traction in the form of meaningful revenues shows that the medical community finds value in the platform. If we decide to add this pure-playrobotic surgery stocktoour own +30 tech stock portfolio, Nanalyze Premium subscribers will receive an email alert.\nShould the IPO go through as planned, shares of PROCEPT BioRobotics will trade under the ticker PRCT.","news_type":1,"symbols_score_info":{"PRCT":0.9}},"isVote":1,"tweetType":1,"viewCount":380,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/883251336"}
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