Mont Blanc Capital Equity Research issued a research update on May 14, 2013 for AtheroNova Inc. (OTC Markets: AHRO). In the report, the analyst maintained its Buy rating and $2.00 per share price target, while projecting that Phase I clinical trials would begin next month after the company received approval from the Russian Ministry of Healthcare (Minzdrav).
Read the Mont Blanc Capital Equity Research report:
Recently, Mont Blanc Capital Equity Research's William Gregozeski was interviewed in an article appearing on The Life Sciences Report that discussed two prominent micro- and small-cap biotech stocks that are underappreciated. Mr. Gregozeski noted that the company could finish its Phase II trials by the end of 2014 and be in "a very interesting situation."
Read the full The Life Sciences Report article:
The Irvine, California-based biotech company is focused on the research and development of compounds to safely regress atherosclerotic plaque and to improve lipid profiles in humans. Its lead compound, AHRO-001, uses certain pharmacological compounds to dissolve atherosclerotic plaque deposits and safely remove them via natural body processes.
On May 9, 2013, the company received written notification of approval of the Phase I protocol in its Investigational New Drug ("IND") application with the Ministry of Healthcare of the Russian Federation. The notice clears CardioNova - its partner - for distribution of the Phase I protocol to the participating clinical centers and application for its license to import AHRO-001.
Successful early clinical trials could set the stage for partnerships with major pharmaceutical companies focused on the space, including Pfizer Inc. (NYSE: PFE) and Merck & Co. (NYSE: MRK), who could use the compound to complement their existing statin-based drugs. As a result, this is one stock that investors may want to watch closely over the coming quarters.
Learn more and request information on AtheroNova (OTCQB:AHRO) here:
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: EGC is a marketing and consulting firm that specializes in creating ongoing communications strategies for public and private companies. For full disclosure please visit: secfilings.com/Disclaimer.aspx