Hi Pat: I enjoy reading your Q&A, and I am looking for your opinion on investing in this speculative stock: ProMetic Life Sciences. Look forward to your recommendations.
ProMetic Life Sciences, $0.36, symbol PLI on Toronto (Shares outstanding: 490.8 million; Market cap: $176.7 million; www.prometic.com), designs technology for removing pathogens from blood and extracting harmful proteins from plasma.
The stock began moving up from just over $0.10 in October 2012, when China’s Shenzhen Hepalink Pharmaceutical took a 10% stake in the company. Shenzhen Hepalink also agreed to license ProMetic’s protein technology for a research and development project. That deal is worth $11 million and included an upfront fee of $2 million.
The shares moved up again in January 2013, from around $0.30 to as high as $0.50 in February. The rise came after the company’s partner, Octapharma, confirmed that the FDA had approved Octaplas, a treatment for blood-clotting disorders, for the U.S. market.
Octaplas, which includes ProMetric’s PrioClear product, has already treated more than two million patients outside the U.S. PrioClear removes prions from blood and reduces the risk of Variant Creutzfeldt-Jakob (or mad cow) disease being transmitted through…
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Does TSI Network Use the Information It Receives?
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COMMENTS: TERMS OF USE
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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