ACUS potential partnership on the horizon
You guys want a great trade going into next week? Check out ACUS.
-They have been in talks with several different parties regarding a partnership for Imagify, which is a drug that allows for detection of corony heart disease, the leading cause of death in the United States. I feel that a partnership agreement is coming close. They have been working with potential partners since Q3 of 2007.
-The potential market for Imagify is $2 billion annually. The only other competition currently out there is nuclear stress testing, which costs double the amount to implement, takes significantly more time to administer,and is more harmful to the patient/environment.
-The company's PFUDA date for their Imagify drug is scheduled for February 2009, which will be when the FDA decides whether or not they approve of the drug.
-There is a shareholder's meeting on Thursday, June 5th of next week to increase their authorized shares from 98 million to 250 million. They are proposing to increase the number of shares outstanding because they are close to signing a partnership agreement with a large US pharmaceutical company.
-The current stock price values the company at a ridiculous market capitalization of $31.3 million.
-The only negative is their is the chance that they will implement a reverse stock split if they cannot hold $1+ over a 10 day period. The board of directors has already stated that they do not want to implement the reverse stock split, but they will do it if they HAVE to in order to keep compliance with Nasdaq. I am betting they come up with the partnership soon and the reverse stock split will not be necessary.
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