Proteonomix, Inc. PROT
A retesting of this past Summer’s highs would mean added gains on the order of 100% or more.
In a recent press release, the company alluded to its plans to test its stem cell treatments overseas, where the costs and barriers associated with introducing such treatments are far lower. A figurative and literal testing ground before attempting to enter the American market.
MOUNTAINSIDE, NJ, Oct 19, 2011 (MARKETWIRE via COMTEX) — PROTEONOMIX, INC. (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that it intends to move forward with the testing of its StromaCel technology through its PRTMI subsidiary or its affiliates. The Company decided to examine the possibility of testing its cardiac stem cell treatment offshore in light of the progress toward its trial of UMK-121, its stem cell treatment for patients awaiting liver transplant to overcome End Stage Liver Disease (“ESLD”), in the United States.
Michael Cohen, President of the Company, stated: “Since we progress toward the commencement of our trial of UMK-121 in the United States, we have decided to explore the possible testing of our cardiac treatment offshore in order to reduce the cost of bringing the cardiac treatment to market. This strategic decision is being made in recognition of the increasing costs associated with bringing a new drug to market in the United States through the NDA (New Drug Application) process and the availability of expert medical testing capabilities offshore at a fraction of the cost.”
We will be introducing a brand new play next week, so don’t forget to pay close attention! We are really excited about what we think this stock can do in the next few weeks!