My largest holding is Cambridge NeuroScience, CNSI.
Apologies if this is a repeat for some, I've put
this on several threads over the last few weeks.
One thing is for sure...the stock ain't going to
move because of me. I even posted to usenet on
a microsoft stock forum...nothing. However...I
do like this stock. I figure it should be trading
at no less than $2, and I started buying it at 1.5
and bought all the way down to where it is now.
The stock trades at 3/4ths on the OTC:bb, It is now
just a tad above it's book value and has a market cap
of 13M. The company turned an eight cent profit in
the latest quarter...although that certainly is not
the reason to buy the stock.
This company is a micro biotech stock in the CNS/neuro
area--and has a deal with Bayer for development of
rhGGF2, recombinant human glial growth factor 2, for
treatment of various CNS diseases, including multiple
sclerosis, muscular dystrophy, and misc neuropathies.
The deal is worth up to 26M over the next several years,
so the cash burn, an important factor for these micro
biotech stocks, is less of a factor here.
biz.yahoo.com
Under terms of the agreement, Bayer will be responsible
for all development costs, including reimbursement of Cambridge
NeuroScience's research costs for GGF2 and will receive
exclusive worldwide manufacturing and marketing rights to the compound.
In exchange, Cambridge NeuroScience may receive up to $26 million
in cash and milestone payments, as well as royalties on sales
of GGF2 products.
You can see the list of leads here at the recap website.
recap.com
Doing queries on the recombinant site is a nice way to
get a first approximation for the stocks you want to
do some DD on.
Let's do a quick query of diabetic+neuropathy, since a
treatment for this could bring 1B in sales for the winner.
recap.com
Notice that another OTC:bb comes up, Neurobiolgical Technologies,
NTII...that is my third largest holding, and I don't even own
it for that reason, but rather the hope for an Alzheimer's
dementia drug.
If a person rushed out and bought these stocks based on my
advice, he'd be a fool. But these are two of my best three
ideas, and could be a good starting point for somebody
bottomfishing in biotech.
By the way, I needed just a little more cash to get a block
of Curagen yesterday...so I backed off from 35k shares of
cnsi to 30k shares...I had just bought another 5k shares
a week ago...at 3/4ths. If this means anything...I put a
limit order at the current bid...23/32 and it went off
so fast it would make your head spin. This is just a guess,
but I would say there is somebody out there getting however
many shares that are being given up at these levels on cnsi. |
