Biotech Calendar: Key Dates for Wild Pennies (2)
May 28, 2010
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RELATED TICKERS: ULU
Jun 15
Uluru Inc. (ULU) Annual Meeting
ULU held a conference call on May 17 and discussed the company’s first quarter financial results.
As of March 31, 2010, ULU had cash and cash equivalents of $2.2 million. The company believed that they would be able to meet their working capital and capital expenditure requirements at least through the third quarter of 2011.
ULU announced that they recently received verbal notification from the European Notified Body that the CE mark for Altrazeal is in its final administrative stage following a successful evaluation. The company anticipated that this would generate momentum for future business partnerships in Europe.
ULU also revealed that they already met with FDA regarding Altrazeal Silver early this month. Hopefully we could hear some more details of this issue in the annual meeting held on Jun 15.
Although ULU lagged behind the market yesterday, I am still having my long position. When I evaluate the risk/return of my investment on ULU, I find no reason to sell it this cheap, especially when FDA decision could come at any time and the prospect in Europe becomes promising.
(To be continued)
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