Joe:
LSBC has been on a long term down-trend for quite some time.<g>
Its primary down-trend started after its monthly triple top (August-September-October 2000) at the 33.50 level.
siliconinvestor.com
That continued, and after the November 2001-January 2002 double top at the 5 level,it seems that a bottom was found at its March-April 2003 Ls ( 0.34 to 0.40 level.<g>)
On April 24 it was able to trade above the $1 level with a spurt in volume (1.773M)Although the stock wasn't able to close above $1 that day (C was 0.89) it was able to start a short term up-trend that ended on the June 6-June 9 double top at the $1.60 level, to which I made reference on my previous note.<g>
Regarding your comments " I bet they have some partnerships agreement coming up" As you know,when NTB and GRA terminated their "partnerships",LSBC's downtrend accelerated,however LSBC is still using the tobacco plants.<g>
On May 21,2003 LSBC announced that its biomanufacturing operation in Ky is gearing up to produce an enzyme to treat Fabry disease, growing it in tobacco plants and will demonstrate that it can produce quantities large enough for human clinical trials.
The FDA designated LSBC's product as an orphan drug in January which will give LSBC 7 yrs. protection from competition, plus tax incentives to help cover research costs.(There is an estimated $1B market in the US and Europe.) LSBC is seeking a commercial partner, which could cover the cost of clinical trials.
Last October they announced a worldwide licensing agreement with A.
agilent.com
Last month they announced an agreement with GRG of CA to develop a non-GMO product to control plant pests.
They also said last month that they plan to enter the research grade aprotinin market during the second quarter of 2004. (Estimates for research grade aprotinin range up to $20M/yr.)
I have a small long position on LSBC and,as I mentioned, may consider adding after it can close above $1.60 <g>
siliconinvestor.com
Bernard |
