Urologix Inc. (ULGX, Financial) filed Annual Report for the period ended 2009-06-30.
Urologix Inc. based in Minneapolis develops manufactures and markets minimally invasive medical products for the treatment of urological disorders. The Company has developed and offers non-surgical anesthesia-free catheter-based treatments that use a proprietary cooled microwave technology for the treatment of benign prostatic hyperplasia a condition that affects more than twenty three million men worldwide. Urologix' products include the CoolWave Targis and Prostatron control units and the Cooled ThermoCath Targis and Prostaprobe catheter families. Additionally Urologix is currently developing CoolMax its next generation microwave catheter for in-office benign prostatic hyperplasia treatment. All of Urologix' products utilize Cooled ThermoTherapy targeted microwave energy combined with a unique cooling mechanism to protect healthy tissue and enhance patient comfort and provide safe effective lasting relief of the symptoms of benign prostatic hyperplasia. Urologix Inc. has a market cap of $16.79 million; its shares were traded at around $1.16 with and P/S ratio of 1.31.
During the fiscal years ended June 30, 2009, 2008, and 2007, we spent $2.4 million, $2.8 million, and $3.0 million, respectively, on our research and development efforts. As of June 30, 2009, we employed 10 individuals in our research and development department.
In January 2001, CMS began to reimburse for Cooled ThermoTherapy treatments performed in the urologists office. The national average reimbursement rate (inclusive of the physicians fee) in calendar year 2009 for Cooled ThermoTherapy procedures performed in the urologists office is $2,551 compared to $3,118 in calendar 2008. The urologists office is where the majority of Urologix Cooled ThermoTherapy treatments are performed today.
Beginning on August 1, 2000, CMS replaced the reasonable cost basis of reimbursement for outpatient hospital-based procedures, including Cooled ThermoTherapy, with a fixed rate or prospective payment system. Under this method of reimbursement, a hospital receives a fixed reimbursement for each Cooled ThermoTherapy treatment performed in its outpatient facility. The national average reimbursement rate for the calendar year 2009 is $3,026 compared to $2,879 in calendar year 2008. Separate from the hospitals reimbursement noted above, the urologist performing the Cooled ThermoTherapy treatment receives reimbursement of $587 per procedure when done in the hospital setting.
In January 2008, the CPT Code covering Cooled ThermoTherapy was once again added to the ASC list of Medicare approved procedures. Effective with this change, urologists who perform Cooled ThermoTherapy procedures in an ASC are reimbursed under a two-part system in which the ASC receives a fixed fee in calendar year 2009 and 2008 of $1,849 and $1,872, respectively, while the urologist performing the treatment in the ASC is reimbursed $587 and $547 per treatment for the same respective periods.
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Highlight of Business Operations:
The aggregate value of the Companys Common Stock held by non-affiliates of the Company was approximately $7,539,931 as of the last day of the Companys most recently completed second fiscal quarter, December 31, 2008, when the last reported sales price was $0.55.During the fiscal years ended June 30, 2009, 2008, and 2007, we spent $2.4 million, $2.8 million, and $3.0 million, respectively, on our research and development efforts. As of June 30, 2009, we employed 10 individuals in our research and development department.
In January 2001, CMS began to reimburse for Cooled ThermoTherapy treatments performed in the urologists office. The national average reimbursement rate (inclusive of the physicians fee) in calendar year 2009 for Cooled ThermoTherapy procedures performed in the urologists office is $2,551 compared to $3,118 in calendar 2008. The urologists office is where the majority of Urologix Cooled ThermoTherapy treatments are performed today.
Beginning on August 1, 2000, CMS replaced the reasonable cost basis of reimbursement for outpatient hospital-based procedures, including Cooled ThermoTherapy, with a fixed rate or prospective payment system. Under this method of reimbursement, a hospital receives a fixed reimbursement for each Cooled ThermoTherapy treatment performed in its outpatient facility. The national average reimbursement rate for the calendar year 2009 is $3,026 compared to $2,879 in calendar year 2008. Separate from the hospitals reimbursement noted above, the urologist performing the Cooled ThermoTherapy treatment receives reimbursement of $587 per procedure when done in the hospital setting.
In January 2008, the CPT Code covering Cooled ThermoTherapy was once again added to the ASC list of Medicare approved procedures. Effective with this change, urologists who perform Cooled ThermoTherapy procedures in an ASC are reimbursed under a two-part system in which the ASC receives a fixed fee in calendar year 2009 and 2008 of $1,849 and $1,872, respectively, while the urologist performing the treatment in the ASC is reimbursed $587 and $547 per treatment for the same respective periods.
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