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To All:
I saw 2 insiders buying on LIPO per Barrons! Anyone familiar with this company?
current price around $17.5, the 52wk- Hi/Lo is $26/$12. They received FDA approval on its Abelcet drug for treatment of aspergillosis( systemic fungal infections) in refractory patients. They have another two drugs TLC D-99 (for metastatic breast cancer), is in Phase III trial w/Pfizer. TLC C-53 is in a Phase III trial study to treat respiratory distress syndrome.
Revenues in the three months ended March 31, 1996 increased to $12.4 million, from $1.8 million in the 1995 period. They Abelcet drug received marketing approval to sell in US, UK, Spain, Ireland, Portugal, Iceland, and Greek. This should increase their revenue significantly.
It is moving uptrend since the insider buying in late August. My broker said this is a $50 stock at 12-18 months time frame. Please share your opinions.
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