Hythiam (HYTM) Higher Following Upbeat Analyst Comments
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Shares of Hythiam Inc. (Nasdaq: HYTM) are getting a boost today after positive comments from an analysts at Brean Murray after Q1 results. Shares of HYTM have risen nearly 16% on the session.
The firm said Hythiam is sacrificing marketing for near-term revenue in exchange for designing a more complete addiction overall protocol and marketing that to insurers of all sizes. They expect the company's current cash position will be sufficient until the company reaches profitability, which they expect in late '09.
The analyst highlighted the reimbursement deal with CIGNA for the company's PROMETA based substance dependence treatment program in Texas. The firm said, "It is generally the case that an initial national reimbursement deal facilitates further national reimbursement deals, and we expect a peer or two of CIGNA to follow suit, especially if the UCLA trial is positive."
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Reimbursement deals = success
PhilUSAFRet on Jun 3, 2008 06:38 PMAs 30 year addictions treatment veteran, I watched the "for profit" addictions treatment industry implode as insurer reimbursements dwindled to nearly nothing. There is very little treatment out there that actually works. If clinical trials prove the treatment is effective, and if an increasing number of insurers agree to reimburse for treatment, then HYTM will be a great success...and a profitable one for investors.