Looking at its balance sheet though, shows the company has over $80M in cash and investments and ZERO debt, giving it a book value of just over $3.00.
The company will be providing an update on how it intends to move forward with the data, as cortical stimulation therapy has shown potential for treatment of depression and tinnitus.
Given such a strong balance sheet, and the continued belief that the therapy has some value, this looks like a very solid risk/reward play here at $1.48 with little downside risk and potential for a 100% gain on any news.
From the co. last press release on 1/22/08:
"On December 31, 2007, we had more than $80 million of cash and investments, which we believe is sufficient to pursue other applications of our cortical stimulation therapy and further investigate EVEREST results. We are encouraged by the additional evidence of a strong safety profile of cortical stimulation demonstrated in the EVEREST trial. Based on clinical results achieved to date in other feasibility studies, we continue to believe that cortical stimulation holds potential for the treatment of depression and tinnitus. These disorders involve different patient populations and distinctly different brain targets than our stroke motor recovery indication. In the coming weeks we intend to provide more detail about our plans going forward."
2 comments:
Hey ND, any thoughts on Fridays action? Do you think MSFTs aquisition of YHOO is window dressing to balance out the bad news from the jobs numbers? Seems like every bit of bad news is met with some good news. I think I need to see the days of M&A activity happening every other day before I feel bullish though
speak of the devil...
http://www.bloomberg.com/apps/news?pid=20601087&sid=alEbkMo2.5YY&refer=home
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