Basic Shares: 48.2 million
Fully diluted: 53.9 million
In a “Company Note” issued this morning, Roth Capital Partners reiterated its $9 buy target and discusses today’s news from Neptune on the current Australian patent issue and the “Friend of the Sea” certification.
Neptune Believes the Australian Patent Office Will Reconsider Its Grant of Aker's Australian Patent, click the link to view.
Neptune, the Only Krill Oil Manufacturer Certified as "Friend of the Sea", click the link to view
Roth states in the report, “We view as positive Neptune's proactive efforts to maintain its strong IP position in Australia. We also believe Neptune benefits from key patents issued in the U.S. covering krill-derived omega-3 phospholipids, active and enforceable even while undergoing re-examination by the USPTO at Aker's request. With the sustainability certification and eco-friendly label, NKO may see an expansion of its commercial profile, in our belief. Neptune's efforts in this direction are further underscored by an active marketing and branding strategy in North America with additions of key distributors and of a celebrity spokesperson. The stock is poised for significant growth this year, in our view, with key top line results from two ongoing Phase II CaPre clinical studies conducted by Acasti in Canada. Data from an open label study in hypertriglyceridemia are anticipated mid-year, and data from a randomized, double blind Phase II study are expected by the end of 2012. These results, in addition to clinical PK/PD data garnered to date by Acasti, will likely support the commencement of a potential pivotal trial in the U.S. by the end of 2012.”
To view the full Roth report, please click here