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Biotech / Medical : ADVENTRX Pharmaceuticals Inc (Anx)
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To: estatemakr who wrote (12)12/7/2006 8:32:00 AM
From: Keith Feral of 418
 
QCOM was one of the worst performing stocks on the nasdaq for years before things turned green in 1999. I don't care about the current stock price, except that the low price is an opportunity.

The company has the products in the pipeline to become another imcl. Cofactor is an incredible product which eliminates the side effects of chemo and increases the response rate dramatically. The product replaces leucovorin, which is one of the main drugs in first line therapy for all kinds of cancer. Adventrx has specifically targetted colorectal cancer and will soon be launching phase 2 breast cancer trials.

In biotech, it's zero or hero at this stage of the game. The company just pumped up the balance sheet with a secondary. HOpefully this gives them plenty of liquidity to identify a first tier pharma or biotech company for licensing deals. A corporate deal would put them over the top and send the shares back to new highs.

Currently, the company has about a $170 million market cap for a drug which has $400 million in US sales potential alone. The market in Europe and Asia gives them the ability to do marketing partnerships which would be equally compelling. Add on the additional markets for cofactor to replace leucovorin, just like companies like imcl has done and you have an amazing potential.

Icahn just put Denner from the IMCL board on the ANX board, and the research reports from cibc, fortis, dawson james, rbc capital, rodman and renshaw all look pretty good. There should be new coverage from ThinkEquity which was the lead in the recent secondary.

I think the stock looks good from here through January once the tax loss selling moves out of the way. There doesn't appear to be much downside on a valuation level, although the stock continues to flounder. It's just one of those stocks that you put away for 6 to 12 months and wait for something to happen.

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