CLRT Investors - NGNM worth paying attention to at $1.10
Congrats to all those investors in CLRT and BioMedReports for writing up the company last month.
NGNM is another cancer diagnostics company that i've been following and worth a real hard look at these levels. They've got a great management team lead by CEO Van Oort, the former COO of Quest Diagnostics and Covance who wrote his own $500,000 check to join the company back in March 2009. Abbott Labs (ABT) also invested $4.8 million in July 2009, at $1.36 per share, and is a 10% shareholder.
NGNM continues to growth the business and on pace to generate around $35 million in sales this year. With new cancer tests coming to market and a great relationship with ABT, NGNM is undervalued and well positioned.
At 5x sales, which is what GE just paid for CLRT, NGNM would fetch $4-5 per share.