...there were 17 flu hospitalizations so far in last year’s flu season. This year ?
ZERO
6/ And we don’t even know which strains are circulating this year…
(this time last year we Canadian labs had already characterized 8 strains).
7/ What is happening with other respiratory viruses, such as RSV, parainfluenza, other coronaviruses, adenoviruses, etc.?
What are the positivity rates of those pathogens and the flu since #COVID19 arrived, compared to prior years?
Well…
Here you go:
8/ Same chart again:
We that observe in the 26 weeks since #COVID19 arrived, we are approaching MINISCULE positivity rates for these other common pathogens, with positivity rates down 90%+ across the board.
(testing/surveillance is higher for all pathogens)
Simply staggering.
9/ Why is this not being talked about more, especially by public health officials, and why aren't journalists digging into this data and asking questions?
10/ So what does this all mean?
First: there are interesting *potential* healthcare system implications…
Influenza hospitalizations are ~12,000/year in Canada (see citations below).
11/ So far, #COVID19 hospitalizations Canada-wide have been ~13,000.
12/ *IF* (and that is a big *IF*) influenza circulates at a lower level this year, we may have more hospital capacity than we expect to deal with a potential next wave of #COVID19.
13/ Other questions come to mind (for others who are actually qualified to answer):
(1) Why are health officials/scientists/media not talking more about this? (this data is all from Health Canada) (2) Can these pathogens recirculate again at historical levels despite decimation?
14/ …
(3) Obvious questions arise regarding flu vaccine policy? (4) Are there implications for the human immune system if these viruses no longer circulate widely? (5) What caused such dramatic declines in other pathogen circulation? Lockdowns/improved hygiene?
15/ Continuing to follow influenza and other respiratory pathogen data will be important as we head into the late fall and winter, when infections typically pick up steam.
If they don’t, the questions become more relevant.
Thanks for reading. End.
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2/ My goal was to see if I could glean anything from the data that could answer why rising case numbers are not resulting in material increases in new hospitalizations, and why new deaths are de minimis. @ONThealth
3/ We are seeing this phenomenon in many jurisdictions around the world (case explosions, deaths flatlined). The UK is one very good example, and Canada is experiencing the same.
In my view, XPEL has “earned the right” to be valued using a DCF.
Its moat is well-documented, and evidenced by the numbers; hyper revenue growth rates, expanding operating margins, and very high and growing software-like returns on invested capital.
Henceforth, will likely always look expensive on trailing numbers. But if its moat is sustainable, for a “good” number of years to come, then its powerful combination of high growth with high ROIC means the value resides way, way out there [into the future].
The following tables summarize my DCF’s output for NPV/share under a [wide] range of potential future revenue/EBITDA growth scenarios, under various #’s of years prior to the point when a terminal value growth rate is then assumed (4.5% ‘r’ in all cases, 9% WACC).
Now a [more 'investable'] "levered equity stub" after closing $24m equity fin'g @ $.13/sh, repaying almost all punative/vigilante debt, w/ highly manageable maturities, breakeven+, and runway to reveal earnings power.
B/S is truly (and finally) significantly strengthened imo, w/ latest raise quite likely the last.
Mkt cap ~$50m & EV ~$175m, 71m warrants @.07/sh ($5m infusion), & 181m warrants @.16/sh ($30m infusion) would heal B/S even more, and could result in reflexive price recovery.
Interesting Friday filing on
MMCAP took 41% of the recent $0.13/unit 1-share/1-warrant bot deal (75m of 181m units/shares).
But, the filing disclosed only 75m warrants, and no associated shares (only legacy shares), potentially implying short sales before/after bot deal.