Osteologix, Inc. (OLGX.OB), a specialty pharmaceutical company committed to developing innovative therapies for the treatment and prevention of musculoskeletal diseases, recently received a third quarter 2007 update from RedChip Visibility, a division of RedChip Companies Inc.
The RedChip Visibility report, issued by research analyst Richa Kalia, MA, stated that Osteologix’s sole and lead drug, NB S101 (strontium malonate) has successfully completed the Phase II trial. The 12-week Phase II study, which was carried out on 289 postmenopausal women with low bone mineral density, evaluated three dose levels of NB S101 and one dose level of a similar product that is approved for treatment and prevention of osteoporosis in Europe.
RedChip Visibility continues to maintain a “speculative buy” rating on Osteologix with a one-year price target of $3.88. RedChip rates these shares speculative due to the inherent risks and uncertainties involved with the industry and the ultimate investment. Osteologix is several years out from generating revenue from selling its own product but the RedChip target price is based on NB S101 capturing 2 percent of the worldwide osteoporosis market by 2014.
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