NEW YORK, April 28, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
Fundamental Research Corp. has maintained its fair value estimates of Resverlogix Corp. (TSX Venture Exchange:RVX) at C$3.60. It is also maintaining its "Buy -- 5 (Highly Speculative)" rating. The full report can be found at www.fundamentalresearchcorp.com and www.investrendresearch.com. The following is a summary of the report.
According to analyst Brian Tang, CFA, the company has sufficient cash on hand of over $3 million to continue Research & Development and operational activities for at least 3 years. Other than capital lease obligations totaling $69,788 over the next three years, the company has no long-term debt.
Two positive events have occurred since Fundamental initiated coverage of RVX in March. First, the company announced that Dr. Jan O. Johansson, M.D., Ph.D., was appointed to the position of Senior Vice-President of Clinical Affairs for RVX. What is significant about the appointment is that Dr. Johansson's previous role was Co-Founder, VP, Clinical Affairs, and Senior Clinical Research Fellow of Esperion Therapeutics Inc.
Esperion was recently purchased by Pfizer Inc., the world's largest pharmaceutical company, for about US$1 billion. Like RVX, Esperion is focused on treating cardiovascular diseases by increasing good cholesterol as opposed to attempting to lower bad cholesterol.
Second, RVX announced that it has entered into a collaborative agreement with Atherotech Inc., to use the company's advanced lipid testing service -- VAP. The VAP test's value will be in the information it provides during trials, and in marketing any drugs developed by showing HDL increases as a result. The VAP test provides all the typical information found in routine lipid panel test, as well as additional information which increases the ability to predict heart disease risk by more than 90% according to Atherotech.
Fundamental Research Corp. is an affiliate of Investrend Research and both subscribe to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com.
The fee for Fundamental's standard coverage is $25,000, and its coverage fee is being paid by the company.
Complete information about this company is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at: http://www.fundamentalresearchcorp.com/PDF/rvxq3.pdf and www.investrendresearch.com, and investors are advised to read disclosures carefully before trading in the equities of any enrolled company.
Anyone interested in receiving alerts regarding Resverlogix Corp. research should email contact@investrend.com and distribution@fundamentalresearchcorp.com with "RVX" in the subject line.