GPRO acquires CUR but at what price? "Holy Grail", widespread adoption, future use on Panther; There are a number of ways to look at whats coming but I first want to congradulate both Gen-Probe and Diagnocure on getting PCA3 FDA approved. The wait is over.
If I would have taken bids a year ago with you knowing that PCA3 would be FDA approved and you could buy what you want for $1.00, everyone would have been all over the stock. Now, that its happened, we have investors sitting back and waiting for something to stir the pot.
First, I have not even been close on price for 2 years so I have cut my targets in half, maybe I'll be surprised. It goes back that there was no timeline to create momentum going into FDA approval, no one had any idea when it would come, and as usual we took our year end dip. the % move was not bad but in terms of price, but we are not where we should be at this point.
I am looking for us to make a much needed move to $1.50 and higher, followed by a race between Diagnocure to get listed here in the States and GPRO to acquire. I posted around a year ago that it will be a stock swap and at todays prices, GPRO has to have a big smile on their faces. I give us 2 quarters and than we will be holding GPRO stock.
Its been stated during several Cur calls that the TSX is not for biotech stocks and the recent price movement makes it clear that in order to get noticed they have to be listed here in the States. We should be >$2.00 and on the way to an all time share price high.
Why will GPRO acquire; they are well aware of future revenue that pca3 will bring, recent studies have shown that in a panel with another GPRO maker, the ability a panel will have in giving physicians a new way to look at patients at high risk for prostate cancer. They are not going to spend money on studies, approval to run on Panther, future approval of new marker to panel with pca3, only to give up 16% to diagnocure. The longer they wait, the stronger pca3 foothold and the less likely investors will accept a swap some where in the $2.25 range.
Gen-Probe is conservative and smart and I don't expect to see any bold predictions until they acquire pca3. The count down begins
(by the way, it appears as if an institution has been using the increase in trading volume to get out of CUR, they made a nice profit and I expect us to hit $1.50 in a few weeks.)