Sarasota, FL 4/10/2008 10:57:56 PM
Symptoms of a Good Stock? (OCOL: OTCBB)
Pennycents Magazine Reports on Oncolin Therapeutics Inc.
Pennycents Magazine, the market’s most valuable research tool covering micro-cap, penny stocks and otcbb equities, issued the following daily column by Priya Nigam.
According to the American Cancer Society, more than 1.4 million new cancer cases are expected to occur this year. Annual sales in the cancer market touch several billion dollars.
One company that is targeting this market is Oncolin Therapeutics, Inc (OCOL: OTCBB). This is a biopharmaceutical company engaged in the discovery, development and commercialization of anticancer therapies. Earlier this month, the company’s name changed from Edgeline Holdings Inc to Oncolin Therapeutics. The company is currently working with four different technologies which it has obtained through various partnerships and licensing agreements.
Oncolin is in talks with one of the world’s leading cancer institutes to commercially develop a new cancer technology. The company’s President and COO Dr. Donald Picker said, “We are excited about the prospects of this new development program and the opportunity to add to our pipeline of cancer therapeutics.” Oncolin has obtained an exclusive global right to option patents covering the composition and use of Genistein analogs for cancer treatment. The technology is patented by the Pharmaceutical Research Institute of Warsaw Poland. The technology relates to compounds that could be novel antimicrotubule agents, which restrict the movement of chromosomes during mitosis (cell division). Antimicrotubule agents are used to treat cancer.
The company is developing ONC-127 for brain cancer. The compound is currently in preclinical development. Oncolin has recently received a grant of $179,000 from the National Institute of Health for its research program.
In December 2007, Oncolin entered into an agreement with the University of Texas M.D. Anderson Cancer Center, which gave the company the exclusive right to five technologies relating to the treatment of various cancers for a period of nine months. This agreement gave the company the right to evaluate potential products and to license the use of the patent.
Oncolin acquired Intertech Bio late last year in an all-stock transaction. Houston, Texas-based Intertech Bio was engaged in developing products to treat cancer, infectious diseases and other medical conditions associated with compromised immune systems. The acquisition was part of Oncolin’s efforts in the area of technology development and the company’s objective of focusing exclusively on the biotech business.
The company’s net loss widened in the quarter ended December 31, 2007 to almost $0.8 million from about $0.6 million in the previous quarter.
Last month, Market Advisors, Inc initiated coverage of Oncolin Therapeutics with an intermediate term price target of $1.45.
The company has a strong management team and has been taking bold steps to grow. It has taken several initiatives to strengthen its fundamentals and addresses a large market. Despite these factors, Oncolin’s shares are trading below 50 cents, which is significantly short of their 52-week high of $2.88.
The writer does not own shares in the above stocks.
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