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Osiris Therapeutics, Inc. (OSIR)

For those new to our discussion board --
Osiris had an accounting issue with the timing of revenue recognition with distributor back in 2014 and 2015. This brought in the accountants and lawyers and delayed financial statements which led to delisting from the NASDAQ. Changing auditors further delayed the process.
The March 27, 2017 press release (http://investor.osiris.com/releasedetail.cfm?ReleaseID=1018943) started to clear some of this up and provide a path forward. Four observations:
1. Completion of 2014 restatement signaled the breakthrough needed for completing financials.
2. the Company announced revenue of $89 to $92 million for 2015 and $110 to $114 million for 2016 a clear signal that revenue is growing (during a challenging period for the company).
3. Revenues doubled between 2014 ($50M) to 2016 ($110-114M).
4. Osiris indicated the objective of filing both 2015 and 2016 reports during summer 2017. Note, summer started on June 21st. A more recent court document confirmed the goal to complete before October (summer ends in Sept).

The CEO transition from interim accounting guru David Dresner to biotech marketing/management expert Linda Palczuk (from AstraZeneca) aligns with this timeline and also signals a positive sign relative to financial reporting. Linda started...


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