The link in my previous post is no good, so here is the full text.
Here is "PENNY" stock (1 7/8) that is making money now,
not a couple of years out!! Read below.
BW0113 FEB 19,1997 9:38 PACIFIC 12:38 EASTERN
( BW)(NORTH-AMERICAN-SCIENTIFIC)(NASI) North American Scientific
Inc. announces FDA approval for prostate cancer therapeutic device
Business Editors/Medical Writers
NORTH HOLLYWOOD, Calif.--(BUSINESS WIRE)--Feb. 19, 1997--North
American Scientific Inc. (OTC:NASI) Wednesday announced it has
received FDA approval to market its newly developed line of
miniature brachytherapy radiation sources for therapeutic treatment
of prostate cancer.
Surgical implantation of such Iodine-125 sources has become a
widely used technique, according to North American Scientific's
President and Chief Executive Officer L. Michael Cutrer. The market
for these sources is estimated to be $25.0 million per year, and
growing strongly, Cutrer said.
North American Scientific has completed its manufacturing
facility and expects to market its prostate cancer brachytherapy
sources within three months. Distribution arrangements are being
negotiated with strong potential partners. "This approval," Cutrer
said, "was granted very rapidly by the FDA, which should allow us to
more easily accomplish our stated goal of expanding growth and
profitability in 1997 and for the years ahead."
The company's Chairman, Irwin Gruverman, said: "This product
launch will demonstrate the ability of a highly focused, soundly
financed organization to quickly carry out its expansion plans.
Other product development activities are ongoing and we anticipate
adding additional product lines in the medical diagnostic and
therapeutic areas."
North American Scientific manufactures and markets low-level
radioactive sources and standards for nuclear medicine, industrial
and other commercial applications.
--30--TJJ/la* EW/la
CONTACT: North American Scientific Inc., North Hollywood
L. Michael Cutrer, 818/503-9201
or
Paul Gropman, 213/931-4540
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