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The Microcap Speculator submits: Medical device company BSD Medical (ticker: BSM) announced this morning that it has finally filed for FDA approval of its BSD-2000 cancer treatment system. The BSD-2000 uses focused RF energy (also known as hyperthermia) to attack tumors, and allows treatment of cancer located deep in the body. According to the company, the system borrows cutting edge technology from deep-space radio telescopes and advanced phased-array communications. The PreMarket Approval Application (PMAA) is a full filing, covering 24 volumes and 7,243 pages. This is very different than the abbreviated filings we often see for medical devices under section 510(k).

In 2005, business consulting group Frost and Sullivan gave the BSD-2000 its "Technology Innovation of the Year Award." The BSD-2000 has also received favorable mention in articles appearing in prestigious journals such as Cancer, Journal of Clinical Oncology, and Radiology Today.

I don't know much about this company, and thankfully don't know much about cancer. That said, I think the stock is an interesting speculation at this point. The market cap is only $92M and the company has roughly $18M in cash. As a development stage company, earnings are far off. However, the technology looks promising and the potential application is very broad. I have taken taken a small position and may add more.

DISCLOSURE: I am long BSM. Not a recommendation to buy or sell any security. For informational and educational purposes only.

BSM 1-Yr Price Performance:

Source: BSD Medical Surges on Filing for FDA Approval of Cancer Treatment Device; Still a Buy? (BSM)