This is currently a 4 dollar stock, but the way its rising it may be more then that soon. Its a shell company on the OB that Johnson and Johnson disclosed a 12.5% stake in last Friday. I know this is a Frost company, but I know nothing about its biotechness. I do know that from the chart that (from the start of the year) the stock has been steadily been acquired. The chart reminds of the OPBL chart and so I want an opinion because I dont want to miss out if thats the case. Someone give me the low-down on this biotech stock. Stoney?
Michael This is a VERY interesting though pure spec play. I was kicking the tires last week when it became clear Dr Frost is going to merge this existing shell of a biotech with another private biotech that had some decent pipeline. Unfortunately I have shuffled my notes into my tax records andf it's going to take a full afternoon before I will (hopefully relocate them) The combined Co will I imagin remain listed as EXEG so you are getting in on the ground floor as they say.... Hope to have more info later. peace. SI
Someone is throwing themselves at this stock. I tried to get shares with NITE, but there were few available. Why is this stock so valuable? Someone is piling in. This reminds me of optionable. I found the SEC filing where Johnson and Johnson owns a 12% stake in the company. What is it about these biotech stocks that make them so popular?
Johnson & Johnson invests in Frost venture BY JOHN DORSCHNER jdorschner@MiamiHerald.com Johnson & Johnson, the Big Pharma entity headquartered in New Jersey, has announced it owns 12.5 percent of the stock in a new venture by Miami physician- entrepreneur Phillip Frost. JNJ filed papers with the Securities and Exchange Commission last week saying it has amassed 16 million shares in eXegenics, a shell company that Frost is using to combine two privately held pharmaceutical firms into a publicly held company that will become known as Opko, which has applied to start trading on the American Stock Exchange. The venture, announced last month, brings together Acuity Pharmaceuticals, based in Philadelphia, and Froptix, a Gainesville company. Both are developing drugs for the treatment of eye diseases. JNJ spokesman Bill Price said the company's stake in eXegenics came about because it previously owned part of Acuity and its shares were transferred to eXegenics in the restructuring. Frost has said he wants to develop ''a first-class pharmaceutical company focusing on the eye.'' The firm will be headquartered in Miami at the former IVAX headquarters on Biscayne Boulevard, which Frost now owns. Shares of eXegenics, which were trading for about $1 at the beginning of the year, were going for about $3.90 at 1 p.m. Wednesday