"SpectruMedix holds the exclusive worldwide rights to the 96 capillary electrophoresis DNA sequencing/genotyping technologies conceived at the Ames Research Laboratories and Funded by the Human Genome Program of the United States Department of Energy."
spectrumedix.com
SpectruMedix Corporation devotes substantially all of its resources to the development of high-speed DNA/gene sequencing instrumentation (the DNA Sequencer), an instrument for the acquisition, analysis and management of complex genetic information. The DNA Sequencer was developed in part from research efforts conducted at the United States Department of Energy and Ames Laboratories' Institute for Physical
Research and Technology/Iowa State University biz.yahoo.com
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SMDX trades on the OTC BB and, like many of the developmental stage companies that trade there has tiny revenue,miniscule sales and shakey financials among a laundry list of potential hurdles
What may set this company apart though is a deal with one of the genomics leaders. PE Corp (and its Celera Genomics CRA unit) have licensed SMDX patents. Further PE Corp/CRA has taken a stake in SMDX thru preferred shares and signed SMDX up to a consulting deal.
Why doesn't the market know about this deal? Neither company has ever issued a press release on the licensing deal, stake or consulting deal.
It is, however laid out in detail in SEC filings-
tenkwizard.com aug '99
Will SMDX move up if/when this deal becomes common knowledge? Impossible to say- but other companies involved with genomics (HYSQ, GLGC, CRGN et al)have seen their valuations rocket.
SMDX has 3.66m shares out- 1.6m float and $3.26M in cash according to Yahoo biz.yahoo.com
The stock started moving off its lows last week |
