Jun 30: $0.20 BLO.C Marijuana breathalyzer technology started trading on Jun 26. Hearing heavy promo lineup including MAJOR media.
West Point Resources is a recently re-purposed company which started trading under the symbol BLO.C on the CNSX on Jun 26. The co is developing a marijuana breathalyzer device and they have already generated a lot of attention from major media outlets. Given the recent momentum toward legalization of marijuana, the timing for this company going public couldn't be better.
I'm hearing a lot of interest for this play from multiple sources. Heavy promo is on the way. Potential:
Hello readers. My (now ex) hosting provider decided to shut down so I had to scurry and transfer my blog to Amazon's AWS S3 service. Hopefully Amazon will be slightly more stable. Unfortunately all my articles are currently sitting in an archive on my storage device and I'm not sure when I'll have the time to restore the articles about our glorious investment history :).
Investment wise, I am very excited about the Canadian biotech market. I am expecting a few stories to have big developments in 2014. $ICO.V is of course due to report back on Phase II trial data for the ICO007 diabetic macular edema trial. This is an interesting trial which I think ICO will easily claim some sort of success on. $KNE.V has had a tremendous amount of success with their animal product and is a prime candidate for a takeover. At $0.08 the stock is near all times low and well worth the investment risk for a huge reward. $TLT.V is one of my favorite companies at the time. The company is run by a well-known management team, and given the recent promo moves they clearly know how to excite the investment community. This one can easily give us multiple returns. $BTI.V is of course a long time favorite in the crowd. For a long while it has attracted the attention of the big pharmas due to its ability to ferry medicines across the blood brain barrier. Well worth buying under $1 and holding for a news event.
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My second biotech pick for the year is Ico Therapeutics (ICO.V). Ico is expected to complete its large phase II study for the ico-007 diabetic macular edema drug by the end of q1 2014.
Ico's drug is aimed at the very lucrative ocular market, possibly as a complement/competitor to the $2bn Lucentis drug. Last year the stock hit $0.89 on excitement surrounding expectation of preliminary results. I expect to see the start of similar excitement and momentum buildup very soon. The risk is limited with the strong support at these levels, and the upside looks promising for Ico and its paltry $22m market-cap valuation.
The price has been depressed of late due to a recent financing, as well as the 8m warrants expiring on Nov 2, 2013. I view this as a quick buying opportunity in the mid $0.30s.
Until next time,