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Waiting for the Dough

The CFO of a start-up maker of medical devices is prepared for years of intense capital-raising efforts and tough cost-allocation decisions on the way to profitability.

October 16, 2009

Sometimes, attaining success is a matter of patience. That's especially true for executives at start-up companies not likely to feature a black bottom line for years.

At Sanuwave, a company that develops innovative, noninvasive medical devices that use shock waves to treat a variety of ailments, there's more to do during those years than make and market products. The first priority is overcoming the biggest risk facing the company: that the Food and Drug Administration will not approve the devices. Toward that end, clinical trials must be conducted for every "indication" — medical lingo for a condition that makes a particular treatment advisable — that the company thinks the devices will be used to treat. Read more...

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