Ican and all,
I know someone had recently asked about Alex Arrow from Wedbush Morgan, and his rating was downgraded initially with the bad news to hold, and then soon after upgraded back to accumulate again. The gist is the fundamentals haven't changed and the valuation already takes the bad news into account....delays in profits but not going out of business, etc.
Also, an organizational update came out, also. Among the notables included the the fact that they are in the process of hiring a vp, compliance and quality systems, with the position reporting directly to Gail Naughton, pres and coo. Will be responsible for both q.a. and quality control, with quality systems reporting directly to Dr. Naughton until the position is filled. In June Dr. Dilip Ashtekar joined ATIS, serving as director of Quality control...past experience included ciba-geigy(now novartis, for those who have forgotten ciba and sandoz), chesapeake biological laboratories, and most recently, Gensia Sicor Pharmaceuticals. Kind of makes you figure that ATIS/S&N aren't letting Q.A. and Q.C. issues get them again ...so a lesson was learned after all.
As I had said before, the organ patent info is likely tremendous, although years away from major breakthrough status for humans. Nevertheless, finding a way to get through the vascularization problem by using the backdoor of simply growing inside the body was, shall we say ingenius.
Now that I'm back on-line again after getting a break the last few days, I would expect that the same trading between the mid3s to low to mid 4s to hold until there is significant news to affect otherwise, such as fda announcements of the phase III dermagraft study and how long they want it to run, as well as the august reinspection results. Guess my recommendations haven't thus far proven much on a shareprice end thus far, even though I have stated the risks along the way. No matter how great it is, we are still dealing with biotech. However, accumulation under 4 sure seems reasonable enough to me.
Regards,
Marshall |
