Cyberonics files for Chapter 11 (Bankruptcy) protection

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gaross - 18 Jun 2004 15:50 GMT

Blank That article (titled above) was on the Microsoft Newsreader page Yesterday or day before? Does anyone have experience or opinions of what that might mean for people using the VNS system, since I thought you had to go in each 2-3? years to get the Battery replaced?

If the Manufacturer of the product is close to **collapse, I wondered why some of the posters had Doctors who were pressuring them to get one ASAP. Is that like rushing out to grab the last Edsel on the Lot ?? I realize there could be a Domino Effect if *everyone avoided getting one once Chapter 11 was made Public... But something as potentially Serious as being close enough to need Chapter 11 Protection from Creditors isn't something a Government throws out like Jelly Beans -- the Manufacturer or their Finances had to be Already in trouble to be given that designation and for it to be made Public.

Any thoughts? G./

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E_Caldwell - 18 Jun 2004 17:36 GMT

Where did you see that they were filing for Chapter 11? An FDA panel just
gave approval for the VNS as treatment for depression so Cyberonics stock has
reached a new high. With the panel approval it's almost a sure bet that the
FDA will approve it.

Even if the company files for Chapter 11, it only means it's reorganizing. It
can come out of the Ch. 11 or it can be bought by another company. Medtronics
owns an enormous amount of its stock and is a logical company to purchase it
and the company would probably be better off if it weren't a one trick pony.
I'm not sure its management is all that great.

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gaross - 18 Jun 2004 18:55 GMT

*** IGNORE SUBJECT TITLE and earlier post I did.

That may have been my Error. Looking back over 2 days stuff I read or
filed, it looks like ***Novartis who filed for Bankruptcy protection --
maker of some medications and 'artificial skin' Research?
That seemed strange 2 days, after I **thought I had read Cyberonics,
that they were starting to use the VNS for treatment of Other issues than
just seizures. G./

> Where did you see that they were filing for Chapter 11? An FDA panel just
> gave approval for the VNS as treatment for depression so Cyberonics stock has
[quoted text clipped - 11 lines]
> >what that might mean for people using the VNS system, since I thought =
> >you had to go in each 2-3? years to get the Battery replaced?

> > If the Manufacturer of the product is close to **collapse, I =
> >wondered why some of the posters had Doctors who were pressuring them to =
> >get one ASAP. Is that like rushing out to grab the last Edsel on the =
> >Lot ?? I realize there could be a Domino Effect if *everyone avoided =
> >getting one once Chapter 11 was made Public... But something as =
> >potentially Serious as being close enough to need Chapter 11 Protection =

> >from Creditors isn't something a Government throws out like Jelly Beans =
> >-- the Manufacturer or their Finances had to be Already in trouble to be =
[quoted text clipped - 7 lines]
> >go in each 2-3? years to get the Battery replaced?</DIV>
> If the Manufacturer of the product is close to **collapse I wondered why

some posters had Doctors who were

> >pressuring them to get one ASAP Is that like rushing out to grab the last

Edsel on the Lot

I cut the rest, reading the HTML to Plain text with the break codes, etc. in
mid line were getting irritating. I have stuff to do today. /G.

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Bob - 18 Jun 2004 17:54 GMT

> That article (titled above) was on the Microsoft Newsreader page
> Yesterday or day before? Does anyone have experience or opinions of
[quoted text clipped - 10 lines]
> Already in trouble to be given that designation and for it to be made
> Public. Any thoughts? G./

Are you sure you've got the right company for that Chapter 11? Here's
the latest on Cyberonics

Medical device company Cyberonics (CYBX, news, msgs) soared more than
75%, a gain of roughly $15 for a $20 stock, after a Food
and Drug
Administration advisory panel recommended approval of a
device to treat
depression late Tuesday. The FDA almost always follows
the advisory panel
recommendation. Trading was huge; almost 40 million
shares changed hands,
and the company has only 23.3 million shares in the
market.

Also boosting the stock was speculation that Boston
Scientific (BSX, news, msgs) might buy Cyberonics, CNBC
reports.

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