Manny Backus NY Biotech?Manny Backus at Wealthpire is teasing a biotech stock. Is this a good one?
> ================================================
> Read the report here…
> http://www.Wealthpire.com/psg-ny-bio.html
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> all of a sudden bought 2,000% MORE
> shares recently than ever before. A
> surefire sign something big is about to
> go down.
>
> ** My team of analysts and I have
> already figured out a strategy to
> play this pick (plus several dozen
> more potential winners) and I’ll let
> you know how to access our trading
> strategy.
>
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I wrote about this one back in June when I think that ad campaign from Wealthpire started — my article is here: http://stockgumshoe.com/reviews/penny-stocks-guru/new-york-biotech-stock-to-soar-997-as-stem-cell-market-explodes-in-2012/
I haven’t followed the stock closely since, but it has climbed quite a bit on this new attention over the last six weeks or so — they seem to be moving ahead with their divestiture of a division that will help clean up their balance sheet, though they’re still a long way away from becoming profitable and they’re underway with clinical trials that will eventually become pretty expensive … assuming the cash churn remains at the current pace they should have enough money to at least get through the year before they have to start selling stock or generating substantially more revenue.
One red flag for me is that in their latest operational press release/quarterly report, they highlight as the first bullet point the fact that the stock has gone up by 50%: http://finance.yahoo.com/news/neostem-announces-quarterly-results-business-110000110.html