The biotech play lost its way after its CEO was jailed in 2014 for her part in a $6m fraud against the company. But New Criterion says there are two key reasons to buy now. First, its targeted penetrating matrix (TPM) technology has gained the support of a Japanese partner to develop a transdermal oxymorphone patch. TPM is all about more effective drug delivery through the skin. Second, Phosphagenics could have a potentially lucrative payday in court. The Singapore International Arbitration Centre has just finished hearing a damages action bought by the company against pharma giant Mylan, in relation to a previous licensing deal over the world’s most widely used injectable antibiotic. Phosphagenics has claimed $380m. An ambit claim, perhaps, but even an award of a fraction of this amount would dwarf the company’s market cap of about $23m.
[IMG] The biotech play lost its way after its CEO was jailed in...
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