Opportunity, BioCurex is in a bad financial position.
He only has money to last until the end of the year. He cannot afford to run any expensive clinical trials in order to submit a 510k.
Just 15 days ago, Moro submitted a 10Q that stated the licensees would obtain FDA approval.
"Our business model is to develop internally our RECAF cancer diagnostic
platform to the stage where individual applications can be partnered or licensed
in strategic relationships for regulatory approval "
If you notice, the PR says nothing about planning to run clinical trials.
" to help expedite the FDA approval of its RECAF(TM) cancer marker test and to compile the large amount of data acquired by BioCurex for publication in peer-reviewed medical journals"
It does say help compile past data for medical journals but that has nothing to do with FDA approval.
Opportunity, this is just hype. Journal articles wont do anything for the company. They have had many of those. He has no money for the necessary clinical trials and it clearly contrary to what was stated 15 days ago. Also, this is not a new agreement just signed. It was signed on Jan 3, 2011.
Moro even bought back stock in an attempt to support the share price. This PR is no different.
Sorry Opportunity, but that is just how I see it.