Seeking Alpha Article Spikes Micro-Cap Biotech Name EDAP
The French biotechnology concern, with a market-cap of only $50 million, is small by most measures, but the stock is already up 83 percent in 2013. On Monday, EDAP has risen around nine percent to $3.71.
The Seeking Alpha author, who goes by the handle Biotech Breakthroughs, previously wrote a bullish piece on CombiMatrix (NASDAQ: CBMX), which contributed to a massive rally in that stock.
EDAP markets the Ablatherm device, which is used in high intensity focused ultrasound (HIFU) treatment of localized prostate cancer. The company is also exploring the use of HIFE as a treatment for other cancers including metastatic liver cancer.
The Seeking Alpha article covering the company argues that it is highly likely that EDAP's Ablatherm-HIFU treatment device will be approved by the FDA.
The treatment has already been approved in Europe, Canada, Russia, Australia and South Korea and entry into the U.S. market could be a game-changer for the company, according to the author.
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