Enough already!!! Here's the story.
VASOGEN INC. - CURRENT STOCK WEAKNESS A BUYING
OPPORTUNITY
1997-11-19
TORONTO, ONTARIO
GROOME CAPITAL ADVISORY INC.
MEMBER OF THE INVESTMENT DEALERS ASSOCIATION OF CANADA
VASOGEN (VAS-ME) November 18, 1997
Recent Price: C$2.20 15-Month Target: C$6.50
Initial Recommendation: BUY; (September 8, 1997) at $3.10
Current Stock Weakness A Buying Opportunity
Although the stock price has recently been soft, the underlying fundamentals
are strong.
In early summer, Vasogen announced excellent results from its
open Peripheral Arterial Occlusive Disease (PAOD) trial of 10 patients. The
trial measured walking distance as evidence to show that VasoCare was
effective at treating the disease. Patients treated with VasoCare were on
average able to walk significantly further. The average improvement exceeded
80% and two patients increased their walking distance by more than 300%. The
level of pain suffered by patients also improved (p=0.04).
In early September, Vasogen announced positive results from its double blind,
controlled Raynaud's disease trial. In one sub-group of patients treated
during the winter months, a 51% improvement in the severity of patients'
symptoms was experienced, while the control group experienced only a 24%
improvement.
In November, Vasogen presented results from its pre-clinical hypertension
study at the University of Montreal. The study showed in an objective animal
model that VasoCare significantly (p<0.0001) reduced the impact of stress on:
diastolic blood pressure increase, increase in heart rate and body
temperature increase. The results also demonstrated that VasoCare
significantly (p<0.0008) reduced the impact of surgical stress. The potential
implications of these results are that VasoCare therapy may protect organs
from the injuries that occur when there is a sudden reduction in blood flow
to vital tissues, for example, as a result of heart attacks and strokes.
Looking forward, we expect Vasogen to deliver significant news, which should
act as a catalyst to propel the stock price higher. In December, we expect
a major milestone to be met -- European Regulatory Approval (CE Mark) for
VasoCare therapy as a treatment for peripheral vascular disease.
Vasogen is committed to U.S. expansion and expects to have U.S. clinical
trials underway in 1998. Vasogen is also rapidly expanding its clinical
trials program in Europe to address other large, under-served medical
markets, in addition to peripheral vascular disease, including diabetic and
ischaemic leg ulcers, migraine, and post-operative recovery rate. The trials
are being conducted at the following centres of excellence:
Disease University Principal Investigator
PAOD University of Bristol and
University of Dundee, U.K. Dr. Roger Baird and
Professor Jill Belch
Diabetic and ischaemic
leg ulcers University of Lund, Sweden Professor Lars Edvinsson
Migraine Gothenburg Migraine Clinic,
Sweden Dr. Carl Dahlof
Post-operative
recovery St. Marien-Hospital Buer,
Germany Dr. Johannes Lohnert
In parallel with the expansion of clinical trials, Vasogen is ramping up its
scientific research program, which is addressing new potential applications
for VasoCare therapy. Research initiatives are underway at the Universities
of Toronto and Montreal and at the University of Sheffield, U.K., in the
areas of stress, hypertension, rheumatoid arthritis and other autoimmune
conditions.
At a current price of $2.20 we believe Vasogen stock is inexpensive and would
encourage investors to Buy the stock.
P. Daniel Bagi, MD Gus De Franco, MBA Mimi Choi, BA (416) 861-3080
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BTW: You may also be interested in the following story re medical applications of ozone:http://www.medizoneint.com/trials.html
Ken |
