Radient Pharmaceuticals Breakout News!
For those riding the train up the last few days here is a new article:
Shares of Radient Pharmaceuticals Corporation (Amex:RPC) have been rising the past few sessions in anticipation of several positive news developments poised to significantly increase the company's market cap.
The Tustin, California based integrated pharmaceutical company is engaged in development, manufacture and marketing of advanced medical diagnostic products, including its FDA Approved ONKO-SURE, a in-vitro diagnostic (IVD) cancer test.
The test has been shown to detect cancer sooner than other tests on the market and has been attracting attention from several developing and emerging countries who feel the company's low-cost diagnostic test can help them detect tumors in populations which are currently under-served by the medical establishment due to lack of appropriate funds, proper diagnostic equipment, exclusion or other inadequacies.
In order to prepare for the growing number of orders from foreign governments, the company's shareholders and board of directors have recently approved a massive debt-to-equity swap which should position the company for increased capacity and growth. If approved by governing authorities at the NYSE Amex in the coming days, the company would virtually eliminate all debt and arm them with enough equity for the next phase of company growth by expanding the manufacturing, sale and marketing of the IVD Cancer Test in countries like China, Chile, Europe, India, Korea, Taiwan, and Vietnam.
After approving all the measures of the recent proposal, RPC Chairman and CEO Douglas MacLellan told board members and investors that his team is ready to continue increasing revenues: “We thank all of our shareholders for their support and greatly appreciate the valuable feedback and insights offered to our executive management team and board of directors. Our collective team remains deeply committed to building long-term value for all of our shareholders, especially through the continued international commercialization of our Onko-Sure® in vitro diagnostic cancer test and monetization strategy and plan for our China-based subsidiary Jade Pharmaceuticals Inc. Our goal remains on delivering life-saving IVD oncology products to patients and healthcare providers worldwide in a manner where we successfully drive sustainable and profitable growth for our Company.”
It appears that investors are flocking to RPC ahead of several positive news developments, significant sales orders and a pending validation from the Mayo Clinic for the company's cancer test as a screener for Lung Cancer. Currently, no molecular test is presently on the market to diagnose lung cancer. One of the most sensitive techniques for the detection of lung cancer in high risk patients is low-dose, non-contrast, spiral, computerized tomography scanning (LDCT), which has a high sensitivity but suffers from poor specificity. For example, nine false positive results typically occur for each true cancer case identified with LDCT screening of high risk patients. Companies like Orion Genomics and Biomoda (OTCBB:BMOD) are aiming to develop just such a test, but it could turn out that Radient already has the solution.
According to a recent report from TriMark, a premium market-research company providing in-depth reports in the biotechnology, medical device, diagnostic and healthcare segments, Cancer testing is one of the most important growth opportunities for the next three to five years. The National Cancer Institute estimates that about ten million Americans have or have had some form of cancer. Overall costs of the disease are $126 billion annually. Pharmaceutical companies are developing more than 300 new medicines for cancer, some of which are in development for more than one type of the disease, for a total of more than 500 ongoing R&D projects.
Radient Pharmaceuticals' Shares are positioned to rise in the days ahead as more speculators become aware of the emerging small cap whose shares trade on the American Stock Exchange and have seen highs of $2.59 during the past 52-weeks.
