If you believe that article regarding the threat of a biological attack, then I think the stock certainly does hold even more upside. That said, the company now has a $700 million market cap and the stock trades near a 52-week high. I'm just not big on investing in companies trading at or near a 52-week high as so much can go wrong.
As the article states, the company primarily relies on the government for its revenue and relying on any one customer is risky. What if its next-generation anthrax vaccine doesn't live up to its promise and the government looks elsewhere? There's just too many questions for me to want to invest in it.
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