Cacaito:
<Position: I am a holder, this is a high risk investment, not buying more at this time.>
I wouldn't necessarily characterize Pars as a high risk investment at this point. Rather, it seems that the risk/reward ratio has changed considerably. From the recent PR, it certainly appears that HU211 will be a slow go and is not attracting the kind of validation and investment needed from others in the industry. Nonetheless, Pars has some fine assets; namely, the ophthalmology products and family, a
positive revenue stream that is growing nicely, a tax loss carry forward in excess of $80 mil, a limited debt structure, and several research leads in important areas. As noted in a previous post, the
change in accounting rules that will take place at the end of next year will stimulate near term mergers. Being taken over seems the most likely path for Pars now. While it may not be at the kind of price we've been looking for, it should still significantly better than the current buck and a quarter.
Cheers,
Arnie |
