SOURCE: Wall Street News Alert

Wall Street News Alert

January 05, 2010 09:33 ET

Wall Street News Alert: Breaking News: Spine Pain Management -- January 5, 2010

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - January 5, 2010) - Wall Street News Alert's "stocks to watch" this morning are: Spine Pain Management, Inc. (OTCBB: SPIN), BioForm Medical, Inc. (NASDAQ: BFRM), Amgen, Inc. (NASDAQ: AMGN) and Bank of America Corp. (NYSE: BAC).

Yesterday after the markets closed, Spine Pain Management, Inc. (OTCBB: SPIN) issued a press release providing a corporate overview, as well as its strategic vision through 2011. Based in Houston, Texas, the company delivers solutions to Spinal Health Care Providers for necessary and appropriate treatment for musculo-skeletal / spinal injury (SI) injuries resulting from traumatic accidents, in an order to maximize patient recovery. Utilizing a proven concept that has been developed and successfully deployed over the past 3 1/2 years by its founders, SPIN is now launching an aggressive nationwide "roll out" of Spine Pain Treatment Centers across the U.S. into major metropolitan cities. The initial strategy calls for the development and deployment of a minimum of seven, to as many as ten centers across the U.S. over the next 24 months.

"Based on the recent success of our first clinic in Houston, which generated Third Quarter revenues of $230,000, and net income of $119,642, we anticipate that we should be able to implement our fast-track strategy successfully and efficiently," stated William F. Donovan, M.D., the Company's Chief Executive Officer. "By partnering with prominent Spine and Orthopedic Surgeons and other local Health Care providers in each of our target markets, and streamlining administration such as billing in our Houston office, should allow us to implement our 2 year, nationwide expansion in an efficient and cost-effective manner, while coordinating timely, reasonable, high quality care for SI patients. With all this taken into consideration, SPIN should continue to meet its goals and milestone objectives, while increasing shareholder value in the months and years to come."

Musculoskeletal conditions account for more disability and more costs to the US health care system than any other condition, and with the aging of the population, this burden to society will increase. According to a report in the Journal of the American Medical Association (JAMA), the spending for Spine treatments in the United States totaled nearly $86 billion in 2005, a rise of 65 percent from 1997, after adjusting for inflation. Data from the Agency for Healthcare Research and Quality collected from 23,000 people a year from 1997 to 2005 found that people with spine problems spent about $6,096 each on medical care in 2005, compared to $3,516 in medical spending among those without spine problems. In 2005, American spent an estimated $20 billion on drug treatments for back and neck problems, an increase of 171 percent from 1997. Outpatient treatment for back and neck problems increased 74 percent to about $31 billion during the period. Spending for surgical procedures and other inpatient costs grew by 25 percent to about $24 billion.

The stock closed yesterday at $1.20 a share.

For an in-depth profile of Spine Pain Management, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=SPIN_121509.

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BioForm Medical, Inc. (NASDAQ: BFRM) up 60.2% on 11.7 million shares traded.

BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California, developing products that enhance aesthetic procedures performed in dermatology and plastic surgery practices.

Amgen, Inc. (NASDAQ: AMGN) up 2% on 5.2 million shares traded.

Amgen discovers, develops, manufactures and delivers innovative human therapeutics.

Bank of America Corp. (NYSE: BAC) up 4.1% on 180.6 million shares traded.

Bank of America is one of the world's largest financial institutions.

Market Commentary:

The Institute for Supply Management, a trade group of purchasing executives, said its manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth.

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