comparable

Found something interesting in NASDAQ listed company OraSure Technologies

First thing of interest was its market cap - US$400mill (25 times HGRs)

What do they do ? – According to their website - OraSure Technologies develops, manufactures and markets oral fluid specimen collection devices ……..is the leading supplier of oral-fluid collection devices and in vitro diagnostic assays to ,,,,,,,, the detection of abused drugs (their words).

Substance abuse testing made 23% of their revenues in 2006 with substance abuse testing growing 17% from 2005 to 2006. In its annual report the Company expected continued growth in its oral drug testing in 2007 as customers moved from urine based testing to oral fluids.

Ora Sure’s product is called Intercept. They state that Intercept it is the only FDA cleared oral fluid device used for drug testing. However – it uses laboratory based enzymes screening to detect drugs. That means it needs to go back to the lab for the result to be determined.

This is not the case with the HGR product. They don’t need to go to the lab – that is why HGR plans to be the first manufacturer to realise 510(k) clearance for a saliva illicit drug test for in workplace testing in the U.S.

According to www.hr.com the Intercept product costs $45 a shot. The HGR product is closer $9 a shot.

Looks from my reading the HGR is a winner in ease of use, price and potentially FDA approval.

Then finally have a look at the CV’s for the MD and CFO. There seems to be a darn good story here.

DYOR