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Editors' Note: This article covers a micro-cap stock. Please be aware of the risks associated with these stocks.

I had almost given up on any investment in a pharmaceutical company based on the potential of its developmental drugs. It is frustrating to get excited about the latest promising cure for an unsolved malady, only to spend months and years watching my "dead money" wait for approval from the US Food and Drug Administration. It is doubly frustrating when the drug in question is successfully healing sick people in Europe or Asia under more liberal approval processes.

It is not like the FDA is unaware of the problem. In August 2011, the FDA announced a new plan for utilizing 21st century...

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