$CLPT The TAM on biologics between AADC, DIPG, Parkinsons, recurrent Glioblastoma, Alzheimer’s, and Huntington’s is approximately $5 Billion. ClearPoint has trial partners in every indication.

The TAM for functional neurosurgery (LITT, DBS) is as high as $500M by 2025.
We estimate a 10% market share on biologics assuming many trials will fail along the way.

We estimate a 30% market share on functional neurosurgery assuming asleep DBS is approved.

Combined we believe $CLPT could achieve $650M annual revenues by 2026.
Using the same price to sales as $ISRG (20x trailing sales), we arrive at a *potential* $13 Billion market cap by 2026 for $CLPT.

This has been our baseline thesis for potential. Standard risks apply and do your own due diligence.
We believe the company will expand to 100 neuro centers throughout the world (currently at 62) and as trials are approved and asleep DBS is approved there will be ample capacity to handle as many as 40,000-80,000 procedures per year.

DBS will become more automated over time
And $CLPT is taking steps now to improved automation (see recent Maestro product launch). We believe centers can perform 3-4 DBS procedures per day if demand increases significantly should asleep DBS be approved.

For biologics procedures we expect centers to do 1.5-2.0 per day
Combined we estimate 100 centers could perform 2.5 procedures on average between biologics and DBS per day. Assuming 200 days of procedures per year this is a capacity of 50,000 per year (100 x 2.5 x 200).

Should some of the larger trials pass with patient populations of 300k+
We believe the required higher capacity can come from recent product launches by Siemens and Hyperfine (fiercebiotech.com/medtech/fda-cl…) in mobile MRI / bedside scanners for $CLPT.
Either way, neuro centers are for profit models & we expect them to shift lower revenue MRI scans $800-$1,000 procedures) to partner centers in favor of DBS (approx $35-$45k each) or biologics ($200k+) procedures. If there is excess demand, we believe excess capacity will appear.

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More from @CapitalCatalyst

19 Feb
$CLPT We had an article slotted to release on ClearPoint about a month ago but felt it was prudent to wait for the run to cool off first.

In the article we were going to discuss the ~40 trials they are in as well what we believe is an insurmountable position in gene therapy.
We are very encouraged by the strategic thinking by management at the company in opening up more addressable markets.

The announcement yesterday with Philips builds on the announcement last week with Blackrock. Here are a few things we wanted to highlight.
1 - Blackrock has worked with robotics companies like Myomo $MYO Brain Computer Interfaces (BCI) so the tie up with $CLPT makes a ton of sense. Some speculation regarding a potential Neuralink system in the works is unfounded, but stroke is an area of high interest to us.
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