|Breakout Watch: NEPT Shares On The Move Again|
|By David Ibrahim, MarketScanners.Com|
|Friday, 25 May 2012 05:14|
"Data from an open label study in hypertriglyceridemia are anticipated mid-year, and data from a randomized, double blind Phase II study are expected by the end of 2012. These results, in addition to clinical PK/PD data garnered to date by Acasti, will likely support the commencement of a potential pivotal trial in the U.S. by the end of 2012."
Earlier this week, Neptune announced that former CEO of Imclone Systems, Dr. Harlan Waksal, has been appointed to the Neptune's Corporate Board of Directors and it appears that the move is being well received by industry observers and analysts, given the Wall Street relationships and impressive experience that Waksal brings to the Canadian biotech firm. The shares have been fighting back hard after being dragged down slightly by the bearish market conditions this week.
It also helps that the stock got some attention from The Wall Street Journal this week when they interviewed NFL Hall-of-Famer and multi-business millionaire John Elway who is now involved with Neptune. Apparently Elway is bullish on the company, it's Krill-Oil supplement products and he has been on the road promoting it at various nutritional supplement events.
During a media lunch at the recent SupplySide Marketplace show in New York, Elway told attendees that the physical toll of playing NFL football for 16 years contributed to concern about his own health and led him to take omega-3s in the form of fish oil, but then switched to krill oil following recommendations from his son.
From a technical standpoint, the chart looks very intriguing and on the verge of a breakout past some mild resistance. Note that shares have been on the rise in these choppy markets since February-- which is impressive. Note also the accumulation that is occuring here. This is a stock that looks like it is headed much higher and offers a proposition is quite similar to the one offered by Amarin (AMRN) which gave us two thousand percent returns dating back over the last couple of years. Deptite the run, even if shares of NEPT were to quadruple from here, they would still only be valued at 1/3 the market cap of AMRN, so that makes us particularly excited about the potential here; particularly with upcoming news and earnings.