Nasdaq Small Caps (PARS)
Current price $1.31
52 week price range $2.875-$1.125
Shares outstanding 29,000,000
Institutions owns 16%
Pharmos is a Florida-based bio-tech company that develops topically-applied ophthalmic drugs. Pharmos has filed a New Drug Application (NDA) for its leading drug Lotemax. Lotemax is a drug that treats acute eye inflammation due to irritation and infection. The company expects the FDA to approve it by the second quarter of 97'.
Also the company also expects to file an NDA for Lotemax-LEA( a low dose formulation of Lotemax that will be use as a treatment for chronic allergic cnjuctivitis) by the first quater of 97' and expects it to get approved by 1Q of 98'. Bausch and Lomb will market both Lotemax products in the U.S. and pay Pharmos 30% of net sales. Lotemax will compete with several ophthalmic steroid, but its superior side effect profile should enable it to capture a 30% share of the $100million market in the U.S. They also have signed a letter intent with Bausch and Lomb for overseas marketing rights. The combined market for the Lotemax products is $200million.
Pharmos is also developing a drug called Dexananbinal that is intended to prevent brain damage following head trauma or stroke. It works like this. It crosses the so-called blood-brain barrier that prevents foreign molocules from entering the brain. And once in, the drug halts the brain-cell deterioration that follows a blow to the head or a stroke. They are entering a billion doller market with this drug. Currently it's in Phase II studies and could be out on the market by the year 2000.
Also, 16% of the company shares are owned by institutions which is a very good sign. Expect this stock to triple in the next 6 months.
There is a small article about there drug Dexanabinol in Business Week
11/04/96 on page 199. |
