Procyon Biopharma Inc. Message Board

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Gold/Mining/Energy : Procyon Biopharma Inc.

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To: thebeach who wrote (308)	3/27/2001 12:02:10 AM
From: thebeach	Read Replies (1) of 356

Andre Uddin, an analyst with Research Capital has his eye on Procyon Biopharma (PBP). The emerging company is focused on the development of pharmaceuticals for cancer. The company’s lead product, Fibrostat for scar management, is in Phase II trials. The stock has a 52-week high of $2.50 and a low of 75 cents. Uddin has a $5.00 price target on Procyon, with a “speculative buy” recommendation. “Procyon has signed a licensing agreement with IMI International Medical Innovations (IMI). In exchange for up-front, milestone and royalty payments to Procyon, IMI receives an exclusive worldwide license to the Procyon’s Colopath technology. The development costs of Colopath will no longer be paid for by Procyon. PCP is only expected to receive revenues for the product both from licensing agreements as well as future sales,” says Uddin. “We expect IMI to sign a U.S. licensing agreement for these two products by the end of this year and would expect the product to be commercialized in 2003.”

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