Nasdaq Small Cap to Watch-
CCSI--Chromatics Color Sciences $8 13/16 x $9
This Nasdaq small cap has caught my attention.
"Chromatics Color Science is engaged in the business of color
science, including the scientific color measurement and
classification of human skin, certain color-sensitive consumer
products, and in determining the color compatibility of such skin
and product color classification for use in a variety of industries
including the cosmetic, beauty aid and fashion industries as
well as technology development for potential medical applications
involving the detection and monitoring of certain chromogenic
diseases. The company's common stock and warrants are traded on
NASDAQ under the symbols "CCSI" and "CCSIW" respectively."
Close Friday $8 13/16 x $9 on 499k shares
Avg Daily Vol 88k
Shares Outstanding 7.62 Mill
Market Cap $68 Mill
Ok--why you ask--did this catch my attention.
First, lets look at the volume in the past two weeks:
Vol High Low Close
01/06/97 2,800 4 9/16 4 1/2 4 9/16
01/07/97 81,300 4 13/16 4 9/16 4 3/4
01/08/97 51,900 5 7/16 5 5 1/4
01/09/97 282,000 6 1/4 5 6
01/10/97 93,700 6 1/4 5 15/16 6 1/16
01/13/97 102,000 6 1/4 5 13/16 6 1/16
01/14/97 60,000 6 1/2 5 7/8 6 3/16
01/15/97 145,900 7 1/4 6 1/4 6 3/4
01/16/97 176,000 7 15/16 7 7 1/2
01/17/97 498,600 9 7 1/2 8 13/16
Ok--the volume Friday sticks out like a sore thumb.
Check the chart at:
pcfn.com
It appears that CCSI has a product awaiting FDA approval. The product is called Colormate III--a transcutaneous bilirubinaometer. This is a noninvasive device that monitors bilirubinemia in newborn babies. It looks like CCSI submitted to the FDA on November 18, 1996. Here is some press taken from a release:
"The company is seeking FDA marketing clearance for use of the
Colormate III(TM) in the noninvasive monitoring of bilirubinemia in
newborn babies. The company's clinical trials of the Colormate
III(TM), which, in the company's opinion, demonstrate a
statistically significant correlation between the Colormate III(TM)'s
results and serum bilirubin concentration levels and superior
sensitivity at clinical decision levels to that of visual estimates,
have been submitted to the FDA in support of the 510(k) notification."
bilirubin--"a reddish yellow water insoluble pigment occurring esp. in bile and blood and causing jaundice if accumulated in excess"
jaundice--" 1 : yellowish pigmentation of the skin, tissues, and body fluids caused by the deposition of bile pigments"
Some posts taken off AOL:
" I have been told that Morgan Stanley has valued CCSI at 200 million if the FDA approves and that doesn't take into account the potential of the Gordon Labs deal."
"I think the recent trading pattern is confirming the potential of CCSI's technology and upcoming FDA decision. As explained to me-their FDA trials appear to have been executed soundly and thoroughly. Empirical data on 3000 newborns comparing accuracy of CCSI technology (noninvasive) vs/ gold standard (invasive-withdrawal of blood) will in my oppinion be very telling. Market for their product just with this FDA approval is staggering. The scanning device is apperently so sensitive in measuring color that it works with extreme accuracy on all skin tones."
Now, it could be that the FDA is close to granting this device approval.
Fact is CCSI makes no money as it stands. Last qtr sales were $84,900--which is nada.
Anyhow--I dont know what the market share for this type of device would be, nor do I know how much the device would sell for.
This is just an alert based on volume--and we should add it to our tickers.
Mills. |
