ATLANTA, July 19, 2005 (PRIMEZONE) -- OTC Stock Review is adding the following stocks to the watch list this morning: Biophan Technologies, Inc. (OTCBB:BIPH), Swift Transportation, Enterprise Financial Services Corp. and International Business Machines.
OTC Stock Review suggests that growth oriented investors and traders look at next-generation biomedical technology developer Biophan Technologies, Inc. (OTCBB:BIPH), this morning. Biophan just announced a definitive license agreement with NYSE-listed Boston Scientific covering multiple patents related to Magnetic Resonance Imaging (MRI) safety and image compatibility. Friday after the close, Biophan disclosed that Boston Scientifics' $5.75 million investment will be made by August 15, 2005 and their license will produce royalties of 3-5%, which can mean tens of millions in potential royalties. The big news is that Boston Scientifics' investment, the result of their recently announced licensing pact, will allow Biophan to file for a listing on a major stock exchange. Additionally, Biophan's 10-Q filing clarified their acquisition and development of technology to: improve vascular stents so they can be imaged with MRI; enable an MRI visible vena cava; enhance the MRI safety and MRI image compatibility of pacemakers; improve MRI contrast agents; improve drug elution and drug delivery systems; and develop a system for generating power for implantable devices from body heat, in cooperation with NASA.
A February 15, 2005 Business Week article referred to Biophan as one of seven nanotechnology players in the healthcare sector. Their technologies make biomedical devices safe and image compatible with the magnetic resonance imaging (MRI) environment. Biophan and its licensors hold 142 U.S. patents, licenses, or applications in the areas of nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, thermoelectric materials, and photonics. In a recent interview, CEO Michael Weiner stated the benefits of performing surgical procedures under MRI are that you can see tissue better under MRI and neither the patient nor physician needs to be exposed to dangerous ionizing radiation.
Shares of BIPH closed at $2.65 on Monday on volume of 683,343 shares. Our recent alert adding BIPH to our watch list indicated that April 4, 2005, three months before Boston Scientific paid a premium to buy $5 million worth of Biophan's shares, Beacon Equity Research issued a report with a price target of $5.17. We believe Biophan has the potential to revolutionize the medical technology industry and investors looking for long term growth with near term results should consider buying the stock at these levels.
For more in-depth coverage of Biophan Technologies (BIPH) visit the Investor Relations section of their web site at http://www.biophan.com
Other stocks of interest this morning are: Swift Transportation reported earnings of $0.40 per share versus $0.43 last year on higher fuel costs.
Enterprise Financial Services Corp. posted a 45% increase in second-quarter earnings per share.
International Business Machines reported second-quarter earnings of $1.12 versus an expected $1.03, after the close.
To recap financial markets Monday, U.S. stocks ended lower Monday, with the NASDAQ and the S&P 500 breaking a seven-session winning streak. Weaker-than-expected earnings from Citigroup Inc. prompted some investors to lock in recent gains. The Dow Jones Industrial Average dropped 65.84 points to 10,574.99, posting its first loss in four sessions. The NASDAQ Composite Index fell 11.91 points to 2,144.87 and the S&P 500 Index was down 6.79 points to 1,221.13, after ending last week at its highest level in four years. Volume was 1.2 billion on the Big Board, and 1.3 billion on the NASDAQ. Crude futures fell after OPEC cut their forecast for oil demand by 150,000 a barrels a day. Oil for August delivery eased 77 cents to $57.32 a barrel, its lowest level in over two weeks, but off an intraday low of $56.80. In currencies, the dollar weakened against the euro and the Japanese yen, ignoring positive U.S. capital-flows data for May. Gold futures extended a $3-an-ounce decline in the prior week. August gold closed 30 cents lower at $421. Long-term Treasury yields closed at a two-month highs; prices closed at their lows amid speculation Federal Reserve Chairman Alan Greenspan may send new signals this week that the Fed plans to keep raising rates. The benchmark 10-year note ended down 13/32 at 99 7/32 to yield 4.22%. Greenspan starts testimony to Congress on the state of the economy beginning Wednesday.
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