4/22/2007
4/22/2007
VOLUME 296
Companies featured in the current edition of the newsletter: ACCP, ADSX, ARGA, BSGC, CVM, CYTR, EEEI, ENZ, GNBT, GSHF, HSOA, ISON, JMAR, LANW, MBND, PBIO, PCLI, POIG, RTK, TAGS, USAT, VQPH
Stocks rose for the third consecutive week as solid earnings reports and favorable economic data drove the market to record highs. The Dow rose 349 points to close at 12,961, bringing its annual gains to 4%. Incredibly, the Dow has posted gains 15 out of the last 16 trading sessions, and 7 consecutive days. Since its March low, it is up 6.8%. The Nasdaq rose 34 points last week, increasing its year-to-date gain to 4.6%.The S&P followed suit and rose 31 points, lifting its yearly gain to 4.6%. The Russell increased 9 points, good for a 5.2%.
With expectations coming into this Earnings Season set pretty low, the stronger-than-expected earnings releases from a number of industry leaders helped set a positive tone for the stock market. Approximately 67 percent of companies in the S&P 500 that reported quarterly results topped analysts’ estimates, compared to the fourth quarter where roughly 61 percent of S&P 500 members beat estimates. Google, Caterpillar, American Express, and Coca-Cola are just a few of the names that rallied after profits signaled that economic growth worldwide remains solid. Not even disappointing results from Yahoo! and IBM could derail investors.
Despite the strong performance for stocks, we thought we would provide some more sobering information. Real GDP forecasts have dropped to near a 1.8% annual rate for the first quarter, down from expectations of about 2.5% a couple of months ago. First quarter earnings expectations have dropped to the 4% to 5% range, the slowest gains in several years. Third and Fourth quarter forecasts have fallen to 5% or below based on weakening economic prospects. Finally, while the core rate of inflation remains low, crude oil continues to be stubbornly high.
What should investors look for this week? A slew of earnings reports will be released, beginning with Boston Scientific (NYSE: BSX), Juniper Networks (NASDAQ: JNPR) and Texas Instruments (NYSE: TXN) announcing results after the close on Monday. Tuesday morning U.S. Steel (NYSE: X) will release earnings, followed by Amazon.com (NASDAQ: AMZN) and Sun Microsystems (NASDAQ: SUNW) after the closing bell. Before the opening on Wednesday, Boeing (NYSE: BA), General Motors (NYSE: GM) and Pepsico (NYSE: PEP) will report numbers, followed by Apple Computer (NASDAQ: AAPL) and JDS Uniphase (NASDAQ: JDSU) in the evening. Thursday morning, 3M (NYSE: MMM), Bristol-Myers (NYSE: BMY), Exxon Mobil (NYSE: XOM) and Ford Motor (NYSE: F) will release earnings, with technology giant Microsoft (NASDAQ: MSFT) reporting numbers Thursday evening. Prior to the opening on Friday, Chevron (NYSE: CVX) will report earnings. Caterpillar (NYSE: CAT) hosts analysts on Monday, with Norfolk Southern (NYSE: NSC) hosting analysts on Wednesday.
With inflationary pressures constantly on the minds of investors, economic releases that can help decipher the future course of the Fed will be closely watched. Shortly after the opening on Tuesday, April Consumer Confidence will be announced. Wednesday morning March Durable Orders will be reported at 8:30 a.m., followed by March Existing and New Home Sales data at 10:00 a.m. and Weekly Crude Inventories at 10:30 a.m. The release of the Fed’s Beige Book, which gauges the strength of the economy, comes later in the afternoon. Prior to the opening on Thursday, Weekly Jobless Claims will be announced with the March Help-Wanted Index being reported at 10:00 a.m. The week ends with the Q1 Employment Cost Index, GDP and Chain Deflator figures being announced before the opening on Friday followed by the Revised April Michigan Sentiment Index being released at 10:00 a.m.
Shares of Home Solutions of America (NASDAQ: HSOA), a provider of recovery, restoration and rebuilding/remodeling services, rose to their highest level in nearly one month helped by positive media coverage of the company in this weekend’s edition of BusinessWeek. The story quoted a large institutional shareholder of the company who expects it to meet the analyst’s forecast of 2007 EPS of 61 cents this year, which would represent 42% EPS growth, impressive for a company trading at less than 12 times trailing 12-month EPS. Investors will get better insight into what 2007 looks like when the company reports Q1 results on May 10th. A positive report, which is possible based upon significant contract announcements over the last six weeks and relatively easy comparisons (company earned 6 cents from continuing operations in Q1 2006) could send shares much higher based upon the low P/E multiple and high short interest (35% of the float). Shares rose 11.7% last year after the company announced Q1 results. Note that the RSI (Relative Strength Index), a popular technical indicator, has been rising since early April and crossed 50 for the first time since mid-February, a bullish indication. Volume, another important indicator, was the highest Friday in one month. Shares ended the week at $5.00, up 38 cents for the week.
New 52-week High: Shares of Enzo Biochem, Inc. (NYSE:ENZ), a company engaged in the research, development and manufacture of innovative health care products, once again rose to a new 52-week high last week of $17.49, on strong volume. Last month’s favorable ruling by the U.S. Patent Board against Princeton University, and pending litigation against Chiron Corp. could give Enzo Biochem a substantial revenue base in the approximately $100 million diagnostic products market, through out-licensing of its nucleic acid signal amplification technology. Coupled with recent initiation of Phase I/II HIV-1 trials, and improving results from its Clinical Labs division, the stock continues to maintain its bullish momentum. The stock closed at $17.21, up 35 cents for the week.
Electro Energy, Inc. (NASDAQ: EEEI), a developer and manufacturer of high-powered, rechargeable bipolar nickel-metal hydride batteries, was awarded the 2007 Frost & Sullivan Emerging Technology of the Year Award in recognition of its unique bi-polar battery technology development designed to advance current nickel metal hydride and lithium ion battery chemistries. Electro Energy’s technology is distinguished by its ability to make cells significantly lighter, smaller, and more powerful than other battery constructions that use the same chemistry. By developing a competitive technology for both nickel-metal hydride and lithium-ion applications, Electro Energy has been able to address the key demands of sophisticated buyers in terms of performance, size, weight, and cost effectiveness. The company’s CEO also continued to purchase stock last week, as he has now bought approximately 16,000 shares in the open market since the 10K was filed. Shares gained 10 cents for the week to close at $1.22.
CEL-SCI Corporation (AMEX: CVM), a developer of new immune system based treatments for cancer and infectious diseases, last week raised $15 million through the sale of stock and warrants. The shares were sold at $0.75, reflecting strong interest from investors awaiting the initiation of the planned Phase III trial of the company’s lead product Multikine in advanced primary head and neck cancer patients in the U.S. and Canada. Multikine is a defined and consistent mixture of human cytokines, and empowers the patient’s own immune system to mount a comprehensive and effective anti-tumor immune response, and Phase II clinical trials showed a 33% increase in overall survival 3.5 years after surgery. Head and neck cancers account for about 5-6% of all cancers, or approximately 500,000 cases annually. Assuming a 20% market share, a very low level for a first- line treatment of a serious life-threatening disease, and a treatment cost of $25,000 per patient, which is also lower than the cost of many current treatments, CEL-SCI’s revenue could be in the $2.5 billion range. The stock ended the week at $0.79, up 6 cents.
VeriChip Corporation, a majority-owned subsidiary of Applied Digital (NASDAQ: ADSX), a leading provider of identification and security technology, raised its revenue estimates for the first quarter ended March 31, 2007 to $7.3 million, from prior guidance of $6.9 to $7.1 million. Growing demand for the company’s infant protection and wander prevention products was a driving factor for the increase in the preliminary numbers. First quarter results are anticipated to be reported on or about May 3, 2007. Additionally, VeriChip Corporation achieved an important milestone last week having sold its 1,200th RFID-based system for the protection of newborn infants and pediatric patients. This includes systems sold under the Hugs, HALO and MyChild brands. Such progress is expected to continue as VeriChip has the largest installation base of infant protection systems of any company in the industry. Shares remained unchanged for the week to close at $1.52.
CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development company, raised approximately $37.0 million from the private sale of common stock, with net proceeds to CytRx of approximately $34.4 million. At least $15 million of the proceeds will be used for working capital in its majority-owned subsidiary, RXi Pharmaceuticals Corporation as this division continues to move forward with the development of its RNAi-based therapeutics. As a result of this private placement, the financing requirements under RXi Pharmaceutical’s agreements with the University of Massachusetts Medical School will be satisfied. Shares fell 25 cents for the week to close at $4.51.
Rentech, Inc. (AMEX: RTK), a developer of technologies that transform under-utilized energy resources into valuable and clean alternative fuels, announced last week a registered direct offering with selected institutional investors of common stock and warrants for gross proceeds of $55 million. For each share of common stock purchased in the offering, the investor will also be issued warrants to purchase 0.2 shares of common stock for a combined issue price of $2.73 per unit. Rentech intends to use the net proceeds from this offering for costs related to the conversion of its East Dubuque plant to use coal as a feedstock, as well as for research and development activities and general corporate purposes. The stock ended the week at $2.64, down 40 cents.
Isonics Corporation (NASDAQ: ISON), a provider of innovative solutions for the homeland security and semiconductor markets, outlined its plan of attaining operating profitability by the end of its next fiscal year beginning May 1, 2007. A significant catalyst for this will come from the company focusing efforts on higher margin businesses, that include 300 mm customers for its wafer business and premium security services from its Protection Plus Security subsidiary. Cost cutting initiatives will also help Isonics meet its stated goal as an estimated $2 – $2.5 million in expenses will be reduced in fiscal 2008. The stock ended the week at $1.60, down 9 cents.
Drug delivery company Generex Biotechnology Corporation (NASDAQ: GNBT), continues to broaden its intellectual property portfolio after announcing last week the granting of newly issued patents in Canada and Mexico. The Canadian patent titled “Pulmonary Drug Delivery” contains claims to an aerosol pharmaceutical formulation, metered dose dispenser, and use thereof. The Mexican patent titled “Micellar Pharmaceutical Compositions for Buccal and Pulmonary Application” is an extant United States Patent held by the company containing claims to pharmaceutical compositions comprising a macromolecular pharmaceutical agent in mixed micellar form. The patent also discloses methods for making and using the pharmaceutical compositions. Such patents are significant to the company as Generex continues to expand the reach and move forward with clinical trials of its core product Generex Oral-lyn in North America. The company currently holds an aggregate of 84 patents worldwide (20 of which are United States Patents) and has an aggregate of 58 patent applications pending in various jurisdictions. Despite the news, shares fell 5 cents to close the week at $1.61.
Access Pharmaceuticals, Inc.(OTCBB: ACCP), an emerging biopharmaceutical company that develops and commercializes propriety products for the treatment and supportive care of cancer patients, announced last week the signing of a definitive merger agreement with Somanta Pharmaceuticals, a company focused on the development of novel oncology compounds and anti-cancer agents. Access will issue 1.5 million shares of common stock to Somanta stockholders in exchange for all the outstanding capital stock of Somanta. With the acquisition of Somanta, Access Pharmaceuticals will acquire four novel anti-cancer compounds in development, one of which is currently in Phase 2 clinical trials. Each of Somanta’s drug candidates acts by a unique mechanism of action, and has the potential to target a wide range of different cancer types. The merger is expected to be completed sometime this summer. The combined company will have a broad cancer-focused portfolio which will include one approved product, two drug candidates in Phase 2 trials and three novel and exciting pre-clinical products. ACCP also presented preclinical data on Prolindac,its novel DACH platinum prodrug which has been shown to be active in a wide variety of solid tumors in both preclinical models and in human trials, last week at the Annual Meeting of the American Association for Cancer Research . The data showed little platinum release (<4% of total platinum) at physiologic pH supporting reduced in vivo toxicity. Platinum release at lower pH, indicative of tumor microenvironment, was substantially higher (70% of total platinum). This preferential release is expected to allow significantly higher doses of cytotoxic platinum to accumulate in the tumor as compared to Oxaliplatin, which is currently the “gold standard” of care, which is dose limited by the lack of preferential platinum release and resultant systemic toxicities. Preclinical data support the in vivo activity of Prolindac which can be given in much higher doses compared to cisplatin or Oxaliplatin due to the low amount of extra-tumoral platinum exposure. The stock ended the week at $5.74, down 46 cents.
Tarrant Apparel Group (NASDAQ: TAGS), an innovative design and sourcing company for private label and private brand casual apparel, announced last week that it has mutually agreed to terminate its $120 million purchase agreement with The Buffalo Group, a designer and manufacturer of contemporary lifestyle brands, in which Tarrant would have acquired certain assets and entities comprising The Buffalo Group. Tarrant and Buffalo agreed to release each other from all claims arising under or related to the terminated purchase agreement, and Buffalo returned $4.75 million of the $5 million deposit Tarrant previously provided to Buffalo. Neither company provided a reason for the termination, but Tarrant said it was in both companies’ best interest to remain independent. Shares ended the week at $1.57, down 39 cents.
Volume Alert: Shares of USA Technologies, Inc. (NASDAQ: USAT), a developer of cashless vending and energy management products, traded approximately 7.6 times average volume after announcing last week the launch of its e-Port Connect wireless payment service for the multi-billion unattended point-of-sale (POS) market. e-Port Connect wirelessly enables self service terminals to accept cashless payments from debit and credit cards with magnetic stripes or contactless, to Near Field Communications (NFC),which allows consumers to make purchases with their cellular phones. With the recent success of its entry into the cashless vending machine market, including deals with MasterCard, several Coca-Cola bottlers, and Cadbury Schweppes, USA Technologies is now directing its efforts into POS opportunities such as kiosks, parking, tolls, mass transit and others. The Ohio Turnpike Commission recently announced it was installing USA Technologies e-Port payment solution at highway exit tolls to accept MasterCard’s PayPass contactless payment system. With an estimated 3500 tollbooths in the U.S., and another 9500 booths worldwide, USA Technologies is well positioned to take advantage of the growing use of non-cash payments in this, as well as other markets, such as the $17 billion parking market, and the $50 billion mass transit market. With estimates of expenditures at self-checkout lanes, ticketing kiosks and other self-service POS locations expecting to grow 33% in 2007 from $475 billion in 2006, shareholders of USA Technologies have much to look forward to in the near-future. The stock ended the week at $11.80, up 25 cents.
Multiband Corporation (NASDAQ: MBND), a leading provider of video, data, and voice systems and services to multiple dwelling units, updated shareholders last week on future business goals to significantly improve operating results. A key component of this strategy revolves around the company shifting away from acquiring its subscriber base and moving towards servicing customers without owning them. As a result, the capital structure will strengthen significantly. Management will also focus on offering customers multiple services on a single bill, making it more competitive with incumbent cable companies. The stock ended the week at $0.41, down 7 cents.
Auriga Laboratories, Inc. (OTCBB: ARGA), a specialty pharmaceutical company with products for the treatment of acute respiratory diseases and dermatological conditions, reported impressive financial results for the first quarter ended March 31, 2007. Gross revenue soared 179% to a record $8.9 million. Income from Operations turned positive for the first time, totaling $110,000 for the quarter compared to a loss of $1.0 million a year ago. Both product-line growth and sales force expansion contributed to the results. The total number of sales associates stands at 200, up from 50 reported last quarter. The launch of new product lines Zinx and Aquoral helped contribute to the increase in total monthly prescriptions that grew 324% to over 26,000 in January 2007 from the previous year. The implementation of a business model centered around a commission-only sales force has enabled the company to retain highly motivated workers in a cost-efficient manner. Auriga expects to continues to increase its sales force and roll-out new products, including newly-branded prescription products that target the lucrative $5 billion dermatology market prior to year-end, support its increase in full-year revenue guidance to $29 million. The stock ended the week at $1.51, down 79 cents.
Volume Alert: Shares of BigString Corporation (OTCBB: BSGC), a provider of user-controllable email services, traded over 100 times average volume last week as favorable coverage on CNBC exposed investors to the company’s erasable email technology. Shares rose 5 cents for the week, to close at $0.36.
GreenShift Corporation (OTCBB: GSHF), a company devoted to facilitating the efficient use of natural resources, announced last week that its subsidiary GS CleanTech Corp. has completed installation and begun commissioning of its corn oil extraction system at Utica Energy, LLC’s ethanol production facility in Oshkosh, Wisconsin. This installation is the first system deployed under GS CleanTech’s technology usage program, providing technology and equipment for no up front cost in return for the long-term right to purchase the extracted corn oil based on a fixed discount to prevailing fuel prices for sale as a biodiesel feedstock. The Wisconsin facility has been engineered to produce approximately 1.1 million gallons of corn oil per year. The company has contracts representing more than 25 million gallons of extracted corn oil, which is readily amenable for refinement into biodiesel fuel. GreenShift also reported numbers for the twelve month period ended December 31, 2006, with revenues for the year totaling $17.9 million, representing a decrease of $2.5 million. Net loss of $17.3 million for the year was mainly attributable to increased operating expenses for new business initiatives, interest and amortization costs. With the previously announced consolidation of GreenShift and GS CleanTech, and management’s plans to implement new cost-efficiency measures, shareholders of GreenShift Corp. stand to be the beneficiaries of this rapidly growing revenue stream. The stock ended the week at $0.05, down 3 cents.
JMAR Technologies, Inc. (OTCBB: JMAR), a leading developer of advanced laser, high resolution imaging and photonics technologies, received $750,000 in new financing last week. Funds will be applied towards working capital needs, ongoing technology development efforts, and continued efforts to establish strategic business alliances. Shares fell 1 cent to close the week at $0.21.
Language Access Network (OTC: LANW), a leader in video interpretation services, announced last week that Boston Medical Center, a private, not-for-profit, 575-bed teaching hospital, has installed and begun usage of the company’s MARTTI units. The service will be available to Boston Medical Center’s Emergency Department 24 hours a day, 365 days a year and billed on a per minute usage fee. Last year, the Boston Medical Center assisted in more than 170,000 interactions with patients and visitors, and had more than 900,000 outpatient visits. This hospital’s interpreter services are the most extensive in New England as it targets a large population. Up to 20% of all patients in the U.S. are limited English proficient, deaf and hard-of-hearing, or do not speak English well. Language Access Network estimates revenues of approximately $12-$35 per usage of the MARTTI system, which should provide the company with a consistent revenue stream for years to come. The company also announced metrics for the first quarter ended March 30, 2007, as a total of ten systems were placed during the period with leading pharmacies and medical facilities representing an impressive growth rate of 400% compared to the same period last year. Such impressive growth is expected to continue as an additional 22 units will be placed by the end of the second quarter 2007, with 40 more systems being placed over the next few months. Further adding to the positive momentum, the company reported that the increase in minutes of interpretation service provided increased by 277% from the year-earlier period, and 147% on a sequential basis compared to the fourth quarter. Such data reflect the important role that the MARTTI systems play in enhancing healthcare services and patient safety with leading institutions across the country. Shares fell 9 cents to close the week at $0.76.
Protocall Technologies Incorporated (OTCBB: PCLI), a leading provider of DVD on-demand systems for retailers and etailers, announced that its subsidiary TitleMatch Entertainment Group, will receive technology and market development support for the new TitleMatch DVD On-Demand system from Microtech Systems. This partnership will help Titlematch Entertainment prosper from Microtech’s global reach as a supplier of automated DVD disc duplication equipment. Microtech maintains a direct sales force that will help promote the TitleMatch system to hundreds of retailers that would quickly benefit from having a virtual inventory of DVD movies. Protocall also reported last week that revenue for the year ended December 31, 2006 rose 110% to $1,070,000 compared to revenue of $506,000 for the same period in 2005. Such growth was primarily the result of new business activities from the company’s recently launched TitleMatch Entertainment division and demonstrates the growing customer interest in TitleMatch. Shares gained 2 cents for the week to close at $0.14.
Independent energy exploration and development company Petrol Oil and Gas, Inc. (OTCBB: POIG), reported operating results for 2006 last week. Despite technical issues involving extended de-watering periods that were encountered in the pursuit of coalbed methane production from Petrol’s new Coal Creek Project, the company reported a greater-than-expected 24% increase in oil and gas revenue for 2006, when compared with last year. The increase in revenue resulted from higher overall gas production and sales, higher hedged prices that Petrol negotiated for gas, and higher daily spot gas prices for the first eight months of 2006. Net loss for the year stood at $7.8 million, versus a net loss of $5.9 million in 2005 which included interest expense of $3.0 million, compared with $1.8 million in 2005, as Petrol utilized its credit facility to fund drilling activities and pipeline/compressor facilities. Gas production from its Petrol-Neodesha Project continued to improve last year and management is optimistic about production from deeper additional coals that represent new producing resources. The stock ended the week at $0.34, down 6 cents.
VioQuest Pharmaceuticals Inc. (OTCBB: VQPH), a biopharmaceutical company focused on acquiring, developing and commercializing targeted cancer compounds, announced last week that its subsidiary, Chiral Quest, Inc., will be sold to a corporation formed by Chiral Quest’s management and others, for approximately $1.7 million in cash, and assumption of Chiral Quest’s liabilities of up to $1.3 million. Proceeds will be used to fund further development programs, and allows the company to intensify its focus on core products. The sale, which is subject to approval by VioQuest’s shareholders, is expected to be completed during the second quarter of 2007. Separately, pre-clinical data for VQD-002 was presented in a poster at the April 2007 Annual Meeting of the American Association for Cancer Research (AACR) last week that showed the compound, in combination with another targeted pathway inhibitor, roscovatine, repressed the growth of specific prostate cancer cells in vitro. Shares rose 5 cents for the week to close at $0.55.
On the Wires: Generex Biotechnology Corporation (NASDAQ: GNBT), also presented at the AACR lastweek highlighting two vaccine development programs initiated by its wholly owned Antigen Express subsidiary.One presentation reported on the immunological response in patients to its AE37 breast cancer vaccine whilethe second presentation discussed preclinical data on a cell-based vaccine for patients with acute myelogenousleukemia.
SPECIAL SITUATIONS:
Pressure BioSciences Inc. (NASDAQ: PBIO) $4.31
Small life sciences companies often carry large investment risks, but also substantial upside potential. What happens, though, when a life sciences concern has substantial opportunity for appreciation, with ways to mitigate the potential for losses? Pressure BioSciences Inc. (PBI) is an exciting company that fits this description well, as it is able to reap the benefits of growth in the biotechnology sector without having to undergo capital intensive clinical trials and efficacy testing. The company has developed a patented and proprietary pressure cycling technology (PCT) that offers scientists significant advantages in several large and growing markets. Chief among these is PCT’s ability to help researchers extract nucleic acids (DNA and RNA), proteins, and other molecules from cells and tissues in order to exploit the potentials of drug discovery in the life sciences market. With a proactive market launch of its main product beginning this month followed by the anticipated international launch in 2008, Pressure BioSciences is transitioning from a developmental-stage company to a viable commercial entity with significant near-term prospects.
There is a real need for better sample preparation methods that will allow for the safe, rapid, and reproducible extraction of biomolecules from a variety of biomaterials. Pressure BioSciences recognizes the importance of filling this void and has developed a core Pressure Cycling Technology (PCT) program that is centered on the razor/razor blade strategy that allows for a continuous source of revenue with high margins. The PCT Sample Preparation System (PCT SPS) consists of a lightweight, portable pressure generating instrument called the Barocycler NEP3229 and disposable PULSE Tubes (sample processing containers). The PCT SPS uses cycles of hydrostatic pressure between ambient and ultra-high levels (35,000 PSI or greater) to control bio-molecular interactions. With the PCT SPS, researchers are able to improve the sample preparation process and make scientific discovery safer, faster, more reproducible and more efficient. Furthermore, the risks of contamination are eliminated with this process, a key element for all scientific processes.
This technology is currently focusing on two lucrative markets, one being the genomics market, that is expected to reach $16.7 billion by 2010, and the second being the proteomics market, that is expected to grow to $3 billion by next year. An estimated 300,000 researchers working in 85,000 academic, government and industrial laboratories worldwide present a lucrative opportunity for the company. Recognizing such growth potential, the company in March doubled an existing purchase order for 20 Barocycler NEP 3229 instruments, bringing the total number of units on order for 2007 to 40. The company also announced that it was increasing its salesforce from one person in 2006 to five by June 30, 2007. Additionally, the company has a strong patent portfolio of 13 U.S. patents and 5 foreign patents and equally strong collaborations with well-known academic and government laboratories throughout the U.S. including Johns Hopkins University, the National Institutes of Health, Harvard University, the U.S. Department of Agriculture, and Alfa Wassermann, Inc., among others. In fact, the company has already shown market traction, as it sold or leased all of its available first generation instruments during 2006. Going forward, and looking beyond the large and growing application of sample preparation, PCT can also be used in a broad array of additional exciting applications, including the inactivation of viruses and bacteria in donated blood and therapeutics, as well as in the purification of proteins.
The management team and board of directors are no strangers to transitioning companies from development-stage to commercial success. With impressive track records and work experience at well-known institutions including Johnson & Johnson, Warner-Lambert, Harvard Medical School and Abbott Laboratories, the company is in the hands of strong leadership. With cash per share of $3.58 to mitigate downside risk, and a proven first generation product already in the hands of some of the most notable laboratories in the country, the risk/reward potential appears attractive.
