3SOF

Quote from: Michael on June 13, 2005, 08:01:54 AM
BNT seems to be ready for break out from a solid base between 11 and 12. They have announced very good results from their PhaseII trials of their Intranasal spray for Diabetes today.

Here are a few highlights for those who don't know the stock:

1. Sales increased with 40% in Q1 2005 compared to Q1 2004

2. Significant increase in international business

3. Generic version of Omeprazole has just been approved for UK (this is their largest product!) BNT has submitted patent applications for producing large quantities of this and other gastrointestinal products in a very cost- efficient manner compared to their generic counterpart.

4. They have alliances in Portugal, Greece, UK, Germany, Austria, Morroco, Poland and the Czech republic for distribution of their products (expect international sale to increase even faster than what we saw in Q1)

5. Spanish subsidiaries have executed a total of 129 license agreements. While 62 of these agreements are pending regulatory approvals, 67 of these agreements cover actively marketed products that are generating revenues.

6. BNT has successfully an intranasal spray in phase II for delivery of insulin. SG Cowen analyst Ian Sanderson sees inhaled insulin eventually penetrating up to 20% of the Type 2-diabetes market, with peak sales of about $2.8 billion overall. This product alone should warrant a very significant increase in the value of BNT. (and when I say very I mean it!)

7. BNT is a clear leader in the application of Nanotechnology in the pharmaceutical field. According to Robert Gyurik, Bentley's vice president of pharmaceutical development at BNT: "Nanocaplet technology may prove to be a core-enabling technology that can change the way drugs are administered." and  CEO james Murphy predicts has said that:"Bentley's technology is far different than previous nanocapsules, The ability to deliver substances at the molecular level means lower doses might be administered for the same therapeutic effect." The Nanotechnology market is forecasted to be a 950 billion industry in 10 years with the pharmaceutical industry as one of the main drivers.

8. Insiders are accumulating shares at these levels

9. Glaxo suit concerning Paxil has just been dismissed

10. The company has practical no long term debt (331K) and 36 million in cash.

11. No brokerage firm is currently recommending the stock which has allowed this tremendously inefficent pricing of Bentley to develop.

12. Bentley presented positive data this weekend at the ADA conference in San Diego.

13. Over $40 million NOL carry forward to be applied to US operations. As US ops. shows a profit, the first $40 million is tax free.

14.Almost $5 million in deferred income sitting on the balance sheet which will be applied to the income statement over the next 12-18 months.

15. Entry into the US generics market through Perrigo.

16. Double digit royalty on Testim, a product marketed by Auxilium (AUXL). Testim has shown a steady growth rate and now Oscient Pharmaceuticals has added to the marketing effort. 250 Oscient sales reps. are now promoting Testim. This increase in sales force,in effect, triples AUXL current number of detailers.

17. Sizeable long term holders of the stock (Citigroup and Vice Chair McGovern) hold over 5 million shares out of 22 million. These two holders have added shares over the last year.

18. Analyst coverage is weak with two marginal Wall St. firms following the stock. This opens up Bentley to potential coverage by larger institutions and thus a wider field of investors.

Mike