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Tuesday, September 15, 2009

GENova Revenue Projections Extravagant

I hope GENova exceeds their revenue projections as well. However, I think their projections are not appropriate for a press release.

"NEW YORK, NY, Sept. 15 /PRNewswire-FirstCall/ - (OTCBB: GVBP) - GENova Biotherapeutics Inc. ("GENova") today announced it has signed an LOI with Prime BioResearch, Ltd. ("Prime BioResearch"), another drug acquisition company in the areas of drug development and distribution a business case that will save GENova millions every year in drug development and at the same time more than double GENova's distribution network enabling GENova to potentially exceed its own expectations of reaching 100m+ in revenue in year 3."

I think it is a bit early for GENova to be announcing the potential to capture 5% of a 3 billion dollar market.

"NEW YORK, NY, Sept. 15 /PRNewswire-FirstCall/ - (OTCBB: GVBP) - GENova Biotherapeutics Inc. ("GENova"), a cancer drug acquisition and development company, is pleased to announce it has gained access to distribution channels for its promising drug targets through a recently-signed deal with Bridge BioResearch Plc. ("Bridge BioResearch"). GENova expects to generate licensing fees and royalties from the out-licensed manufacturing and marketing rights to leading pharmaceutical companies to exceed more than 5% in a market currently valued at "$3billion"+ a year over the following 15-20 years which is the duration of the patents."

I think we are starting to see this one turn into more of a marketing extravaganza rather than a solid company. I would exercise caution and consult an investment adviser before getting involved with this company!

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