FluoroPharma Medical, Inc. (FPMI) Research Update Released
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New York, NY - April 1, 2014 (Investorideas.com Newswire) Taglich Brothers released an updated research report on FluoroPharma Medical, Inc. (FPMI) and reiterated a Speculative Buy rating with a 12-month price target of $1.20 per share. The report noted the following key investment considerations:
FPMI is developing radiopharmaceuticals that can potentially enhance the utility of positron emission tomography (PET) imaging scans in detecting and evaluating coronary artery disease. An estimated 16 million Americans have coronary artery disease, a figure that could increase to 20.5 million by 2025 and 27 million by 2050.
Between 1982 and 2006, cardiac nuclear scans increased to 10.3 million from 950,000, outpacing by far the increase in total nuclear diagnostic examinations. By 2020 US nuclear cardiac scans could increase to 13.5 million.
FluoroPharma's lead drug candidates, BFPET™ and CardioPET™ are now in phase II trials. VasoPET™, still in preclinical development, aims to detect coronary artery plaque that is liable to break loose, potentially causing a heart attack or stroke. FPMI aims to secure US regulatory approval of BFPET and CardioPET by 2016.
In 2013 the company lost ($0.28) per share, excluding an unrealized loss on securities and a gain on warrant revaluation. We project losses of ($0.44) and ($0.36) per share in 2014 and 2015, respectively.
In 4Q13 FPMI lost ($0.08) per share, excluding an unrealized loss on securities and a loss on warrant revaluation. We projected a ($0.05) per share loss. In 4Q12, the company lost ($0.06) per share).
Long-term revenue potential is substantial. But two to three more years of clinical trials and regulatory review will be costly. Losses through 2015 will be heavy and cash burn will have to be offset with an estimated $31 million in additional financing.
FluoroPharma Medical, Inc.(FPMI: OTC BB), headquartered in Montclair, New Jersey, is a development stage enterprise founded in 2003 to develop pharmaceuticals based on technology licensed exclusively from Massachusetts General Hospital.
FPMI is focused on the development of radiopharmaceuticals used in positron emission tomography (PET) imaging scans that can more effectively detect and evaluate acute and chronic forms of coronary artery disease (CAD). Nuclear imaging scans are more effective diagnostic tools, as they can show changes in the function of an organ indicating disease or its progression more efficiently than the static images produced by conventional imaging modalities.
FluoroPharma Medical currently has three drug candidates. BFPET™ detects damaged tissue by measuring blood flow through the heart. CardioPET™ detects damaged heart tissue in CAD or suspected CAD patients unable to undergo conventional (exercise) stress tests. CardioPET is also useful in cardiac viability assessment (CVA) of patients prior to or after revascularization. BFPET and CardioPET are now in phase II trials. VasoPET™, still in preclinical development, aims to detect coronary artery plaque that is liable to break loose and lead to formation of clots that cause oxygen deprivation in the heart muscle, potentially causing a heart attack or stroke.
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