BioCurex (BOCX) Shares at New Multi-Week Highs
Like I said a few days ago (and a few days before that), it looks like something is going on with BioCurex (OTCBB: BOCX). Shares of this small-cap biotech had been up by more than 20% today…the highest levels in weeks. Volume is through the roof. And yet, no news. Based on what we know about this small company and its cancer test research, I’m more and more convinced something big is on the way.
I wish I had something more concrete to say, but I don’t. I just know the 80/20 rule applies to trading as well….80% of stock’s gains are made during 20% of their life. Personally, I think we’re entering one of those 20% scenarios. Where or how it will all come out is still anybody’s guess. But, I’ve seen $1.32 act as resistance on the more recent side of the chart. A move past that could spark a rally to $2.00.
Be prepared for volatility (i.e. stay nimble), but I like our chances here.
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Any idea of how close the new licensee is from making an announcement? Any other comments from Abbott about expanding or setting a timeline for the recaf test??
Editor’s response: No to both. I tried to get the same info, and couldn’t. As for the other licensee, I don’t even know of that’s anything official from the company yet, so I can’t treat that as anything but a rumor for the time being (though I’d be willing to bet on it). So, BioCurex is certianly not going to add any details. As for the test, I suspect it’s up to Aboott as much as BioCurex now, if not more so. So, no help ther either. Sorry. I;ll see what I can find out, but I don’t expect much more than what we just said.
Comment by brad — 9/25/2007 @ 9:10 am
You were absolutely correct. BioCurex did release the results of the joint Abbott/BioCurex presentation after the close of the ISOBM annual meeting. There is also more to come. BioCurex investor relations spokesperson, Terry Johnston, is indicating an additional licensee for the RECAF technology is in progress.
Editor’s response: Yeah, but we actually have a reader to thank for the ‘heads up’ and the Abbott presentation. We would have never found the Abbott presentation in the ISOBM preview about a month ago….we just agreed with that reader that there was something brewing, and put 2 and 2 together. I heard about the new licensee as well, and there’s no limit there. Pretty exciting stuff.
Comment by stockman — 9/20/2007 @ 6:46 pm
The increase in stock price was NOT from the point of care test alone although the test does have a tremendous possibility of being an excellent product. What is really in happening to increase the stock price is confirmation by Abbott that the RECAF test is much closer to market by presenting it in front of a leading scientific meeting. In the press release this morning, only one presentation was mentioned. Why? That one was presented by BioCurex. The other two presentations are by Abbott and it is up to Abbott to release the information if they so desire. Even if Abbott does not comment on the presentations, it will mean the feasibility milestone will have been met and the articles will be published in Tumor Biology in a few weeks. At that point, Dr. Moro will be able to comment on them.
Editor’s response: Maybe. That was actually part of the speculation we discussed a few days ago when BOCX first perked up. Unfortunately, we don’t have a relationship with Abbott like we do with BioCurex, so we don’t want to overstep our bounds and speak on their behalf. You could be right though….there may be more to the story than a point-of-care test.
Like you said, we know Abbott is also presenting something with RECAF at the conference on Thursday, so we’re assuming if it’s worth presenting, then it’s worth announcing publicly - since it will be monetizable. We look forward to that. However, I think BioCurex may tout any related news with or without Abbott, once it’s made public at the conference. In other words, Dr. Moro may not need to wait for the print edition of Tumor Biology…not sure if this is entirely Abbott’s baby, or also BioCurex’s.
Comment by stockman — 9/18/2007 @ 12:18 pm