Sunday, June 25, 2006 2:29:18 AM
It has run up 750% - so maybe a rest?
If you follow our website or read the newsletter you know we bought this and recommended it at $0.017 so we have a very nice gain. We took some profits on Friday as it was up 40% at the time so over 100% in 2 days and over 350% for us, making it the second largest gainer in the last 2 months. The stock has been having such high volume that it is easy to get in and out if the movement continues. It is however overbought and could stay so but the risk/reward is much higher now. Since the sales of NICOSAN have been expected for a long time this could be a sell the news situation.
In the company's last 10-Q filing they said they would start selling this quarter but they also said that revenues will not be significant.
"It is anticipated that sales of our product NICOSAN(TM), a sickle cell drug, will commence in Nigeria in the second or third quarter of 2006. Initially, it is not anticipated that revenues will be significant but they should help in covering the costs of the operation."
It is a long process to try for FDA approval for the USA.
Maybe the stock can double again and in time it likely will but now is a much more cautious time.
If you follow our website or read the newsletter you know we bought this and recommended it at $0.017 so we have a very nice gain. We took some profits on Friday as it was up 40% at the time so over 100% in 2 days and over 350% for us, making it the second largest gainer in the last 2 months. The stock has been having such high volume that it is easy to get in and out if the movement continues. It is however overbought and could stay so but the risk/reward is much higher now. Since the sales of NICOSAN have been expected for a long time this could be a sell the news situation.
In the company's last 10-Q filing they said they would start selling this quarter but they also said that revenues will not be significant.
"It is anticipated that sales of our product NICOSAN(TM), a sickle cell drug, will commence in Nigeria in the second or third quarter of 2006. Initially, it is not anticipated that revenues will be significant but they should help in covering the costs of the operation."
It is a long process to try for FDA approval for the USA.
Maybe the stock can double again and in time it likely will but now is a much more cautious time.
I am a consultant for NNRF, Inc and own personal shares
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