Great idea for a board, China. I am going to go with APPA. Here is a snapshot:
Key Statistics and Ratios
Price & Volume
Recent Price $1.05 52 Week High $2.19 52 Week Low $0.8400 Average Daily Volume 803 Beta 0.17 Share Related Items
Market Capitalization $26.71 M Shares Outstanding 25.44 M Float 24.37 M Dividend Information
Yield 0.00% Annual Dividend $0.00 Payout Ratio (TTM) 0.00% Dividend Date <Unknown> Financial Strength (MRQ)
Quick Ratio 3.70 Current Ratio 3.90 Long Term Debt/Equity 0.00 Total Debt/Equity 0.00 Valuation Ratios
Price/Earnings (TTM) 5.00 Price/Sales (TTM) N/A Price/Book (MRQ) 2.23 Price/Cash Flow (TTM) 5.30 Per Share Data
Earnings (TTM) $0.21 Sales (TTM) $0.00 Book Value (MRQ) $0.47 Cash Flow (TTM) $0.20 Cash (MRQ) $0.09 Management Effectiveness (TTM)
Return on Equity N/A Return on Assets -27.40% Return on Investments -34.30% Profitability (TTM)
Gross Margin N/A Operating Margin <Unknown> Profit Margin N/A Effective Tax Rate <Unknown>
They are in a bit of trouble recently, and need to finance to get their new drug approved and on the market. Here is a bit of background on the company, and last, I'll end with the latest PR.
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The Company is a specialty pharmaceutical company focused on the development of pharmaceutical products utilizing its proprietary polymer-based drug delivery systems. The Company's focus is the development and commercialization of bioerodible injectable and implantable systems under the trade name Biochronomer. Its business strategy is twofold: to develop selected proprietary products, funding them through the preliminary phases of regulatory review before entering into partnerships to share costs and to earn a share of future profits; and - to license its proprietary technologies to corporate partners after the successful completion of reimbursed feasibility studies to earn research and development fees, licensing fees, milestone payments and royalties. Bioerodible polymers are of increasing interest within the pharmaceutical and biotechnology community for use in both drug delivery applications and as devices. The Company has made progress in developing bioerodible polymers that potentially represent an improvement over existing drug delivery systems. During 2005, A.P. Pharma completed a Phase 2 human clinical trial using APF530, its lead product candidate for the prevention of both acute and delayed chemotherapy-induced nausea and vomiting in patients undergoing both moderately and highly emetogenic chemotherapy for cancer. APF530 contains the anti-nausea drug granisetron formulated with the Company's proprietary Biochronomer bioerodible drug delivery system. The Company's second Biochronomer product candidate is APF112 for the treatment of post-surgical pain. APF112 incorporates the well-known analgesic mepivacaine in its Biochronomer system. As part of the Company's strategy to protect its current products and to provide a foundation for future products, it has filed a number of United States patent applications on inventions relating to the composition of a variety of polymers, specific products, product groups, and processing technology. A.P. Pharma has a total of 19 issued United States patents and an additional 108 issued foreign patents. Currently, it has 42 pending patent applications worldwide. The Company relies on unpatented trade secrets and know-how to protect certain aspects of its production technologies. As of February 28, 2006, the Company had 36 full-time employees, 5 of whom hold PhDs.
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A.P. Pharma Files Registration Statement for a Common Stock Offering
REDWOOD CITY, Calif., Apr 05, 2007 (BUSINESS WIRE) -- A.P. Pharma, Inc. (APPA), a specialty pharmaceuticals company, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed public offering of up to $28,750,000 of its common stock. All of the shares in the proposed offering are being sold by the Company.
Proceeds from this offering are intended to be used for clinical development of APF530, the Company's lead product candidate; development and clinical testing of other candidates; and for working capital, capital expenditures and other general corporate purposes.
Merriman Curhan Ford & Co. will act as underwriter and book-running manager for the proposed offering. This offering will be made only by means of a prospectus. When available, copies of the prospectus relating to these securities may be obtained from: Merriman Curhan Ford & Co., 600 California Street, 9th Floor, San Francisco, CA 94108, Telephone 415-248-5600, Fax 415-248-5690.
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As soon as these shares hit, the price will go down, as there will be dilution. After the madness is over, look for a good entry point. This is a pretty good company that has been around, and if their product gets approved, will sell very nicely. One to accumulate.
