DALLAS, April 28, 2004 (PRIMEZONE) -- The Wall Street Small Cap Reporter, a leading source of news and information for the small cap investor, has identified the medical device space as a fast-growth industry with a handful of small cap companies exhibiting significant potential. As the bellwether large cap stocks trade flatly in this space, a few small cap stocks that are currently under the average investor's radar may represent strong buying opportunities.
All but one of the five largest medical device companies by market capitalization have traded flatly over the past five days. In yesterday's trading, Boston Scientific (NYSE:BSX), Zimmer Holdings (NYSE:ZMH), and Guidant Corporation (NYSE:GDT) all were down more than two percent, while Medtronic, Inc. (NYSE:MDT) and Stryker Corporation (NYSE:SYK) only were up less than one percent. Stryker is the only company among the top five to have experienced a modest gain, three percent, over the past five days; but at a share price of more than $100, the stock is out of reach for most investors seeking leverage in this space.
The Wall Street Small Cap Reporter believes that opportunities for significant gains in this space lie in small cap company stocks, with at least one notable manufacturer actively developing a patented technology about to enter the marketplace.
The Wall Street Small Cap Reporter is now closely monitoring Cell Bio-Systems, Inc. (Pink Sheets: CBSI) as one company that investors may want to continue considering in this space. CBSI announced this week the completion of its first set of production tools to manufacture the company's patented flagship product: the first affordable, disposable cannula. Popularized by its use to insert or extract tissue during liposuction and collagen implant procedures, a cannula is an enclosed tubular device, currently made from stainless steel, that looks much like a large needle. Though re-sterilized, steel cannulas are reused in hundreds of procedures, typically for as long as two years or more. Despite safety concerns and complications regularly ascribed to steel cannulas, no comparable, disposable device currently exists.
CBSI's CEO, Marc Pilkington, referenced an aggressive schedule to bring the product to market and stated that the company plans to have physicians testing its products by July. Meanwhile, CBSI shares have experienced double-digit growth for two consecutive days since the news broke Monday morning. Shares of CBSI closed yesterday at $1.30, up more than 13 percent from Monday's close, and are likely to continue attracting interest this week.
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Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Cell Bio-Systems disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.
The Wall Street Small Cap Reporter