I've been involved with a Biotech for decades, IMGN. Over the year's it's been as high as the $40's, and the lows under a dollar. After decades in business last year it hit a low of $1.51 that hadn't been seen in over a decade, as I remember it. I'd hardly call it a scam as their technology is proven in a drug called Kadcyla, but more importantly they have a few wholly owned drugs that should be approved in the next few years, as well as a partnered drug that should be approved next year.
My point is that such companies take time to mature. OWCP by comparison is on the fast track. My biggest complaint is that we're being spoon feed as far as how they intend to succeed.
Don't get me wrong, months ago they told us they'd be doing additional efficacy trials, but it sounded as though they intended to market the product as a cosmetic, which wouldn't require such trials. They really didn't say that, by saying it was market ready, that's what we inferred.
I would hope that investors are strong enough to recognize that the course of action they're taking is best for the long term objectives of the company. I believe if the spell it out cleanly the stock price will rally, though perhaps not to the multi dollar level we'd projected by year end with products on the market for several months.
If Mediq's projection that after 3 to 6 months of efficacy testing they'll initiate marketing the product, I do believe that we'll be over a dollar by year's end. Perhaps the marketing of the cream may still not have yet occurred, but if it's anticipated in January, and if evidence has been seen demonstrating just how effective it is, I don't see how the price won't be substantially higher.
The first catalyst to better share price is safety, once that's proven, all else should follow into place. First psoriasis, then perhaps Acne, then Eczema, etc, etc. We as investors need to stand back and watch it happen.
Gary
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