Neptune Technologies and Biorresources
TSX: NTB – NASDAQ: NEPT
Basic Shares: 60.0 million
Fully Diluted: 67.5 million
Today’s news from Neptune that it has started re-construction of its Sherbrooke Plant was greeted warmly by the market as the company added a checkmark to its milestone list. As of this writing, the stock was hovering in the $3 (CDN) range with good volumes, particularly in the United States where the stock was sitting around $2.90.
Over the past number of months, Neptune investors have been waiting for four major milestones:
- An outsourcing partner. News that the company will be producing additional supply of its high quality krill oil through another manufacturer. Neptune stated in its news release from May 22, 2013 that it has “Three confirmed options are now being evaluated and a choice should be made by the end of the second quarter of this fiscal year.”
- Resolution of its U.S. Patent Re-Examination. On May 15, Neptune updated investors on its patent no. 8,030,348. The USPTO issued Neptune a NON-FINAL Action Closing Prosecution (ACP). Which according to management, Neptune had one month to submit additional arguments stating its position before the USPTO renders a final decision.
- Acasti to finalize its phase II open label study. In a May 22, 2013 news release the company stated that patient recruitment was completed and to expect a final report this summer.
- Rebuilding of the Sherbrook plant. Today, Neptune has announced it has received all the necessary permits and is commencing the reconstruction of the plant. The new facility will produce more than 150,000 kg of krill oil per year and will be up and running before the end of its fiscal year (February 28, 2014).
To view today’s news release, please click here.