Today is the kind of day that get’s me going. It wasn’t quite as good as the 500 point swing days but I’ll take it.
We have the FDIC being broke, unemployment not getting better fast enough, manufacturing heading back to contracting (that was a quick inventory rebuild wasn’t it?), inflation indicators are back a nil all pointing towards October bitch slapping the market once again.
The personal savings rate in this country is heading back into Bull Market Mode and that spells bad things for the consumer led economy going forward:
There is some good news however!
A possible cure for cocaine addiction!
First seen on the NCN: Catalyst Pharmaceuticals: CPRX
This micro-cap is getting some analyst coverage from Rodman & Renshaw in regards to their drug Vigabatrin.
Basically they had 1 good trail and 1 bad trail - the good trail was performed in Mexico in a controlled rehab center. The bad one was in the US where the patients were not in a rehab center so....
The company is going to perform new testing in the US in controlled rehab facilities like it did in Mexico in the hope that this will help display the benefits of Vigabatrin.
Management just announced an equity raise at the close of trading today of a little more then 3 mil to fund the study.
Now this is a total lotto ticket - all or nothing. CPRX certainty isn't the first company to try and cure addiction but if they do get some positive results from this next trial it will raise more then a few eyebrows.
I suggest seeing where this offering prices and then if your looking for something to replace that scratch off ticket, take a look at this one.
Long CPRX (but only with a little bar money)
