SOURCE: Radient Pharmaceuticals Corporation

Radient Pharmaceuticals Corporation

December 29, 2010 09:00 ET

Wall Street Analyst Bogner Publishes Speculative Buy Recommendation on Radient Pharmaceuticals; Sets 6-12 Month Price per Share Target of $3.50 - $4.00 and Long Term Range at $15.00 - $20.00 Price per Share

TUSTIN, CA--(Marketwire - December 29, 2010) - Radient Pharmaceuticals Corporation (NYSE Amex: RPC), a US-based company specializing in the research, development, and international commercialization of In Vitro Diagnostic (IVD) cancer tests, announced today Wall Street analyst and management consultant Leonard Bogner initiated coverage on shares of Radient Pharmaceuticals Corporation (NYSE Amex: RPC), in a research note to clients and investors on Tuesday. Bogner set a "speculative buy" rating on the stock.

Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared In Vitro Diagnostic Onko-Sure® Test Kits for colon-rectal cancer recurrence monitoring, and use of the test kit for the monitoring, detection and treatment of over 14 additional types of cancer. Onko-Sure® is a simple, noninvasive, patent-pending and regulatory-approved in vitro diagnostic test that enables physicians and their patients to effectively monitor and/or detect certain types of cancers by measuring the accumulation of specific breakdown products in the blood called Fibrin and Fibrinogen Degradation Products (FDP). FDP levels rise dramatically with the progression of cancer. Onko-Sure® is approved by the US FDA for the monitoring of colorectal cancer and by Health Canada for lung cancer detection and treatment monitoring.

Shares of Radient Pharmaceuticals (NYSE Amex: RPC) traded up 2.48% during mid-day trading on Monday, hitting $0.93. RPC has a 52 week low of $0.20 and a 52 week high of $2.59 with an average trading volume of 1,179,410. On average, analysts predict RPC Pharmaceutical will post a price target of $3.50 - $4.00 per share over the next six to twelve months with an upside potential of $5.00 or more. Over the long term, Bogner believes the stock could trade in the range of $15.00 - $20.00 per share as the Company achieves certain revenue and earnings benchmarks and the stock is accorded a premium multiple valuation. RPC has a market cap of $33.36 million.

According to Bogner's report, "We believe RPC is an attractive Speculative Buy for risk-tolerant investors. The Company has positioned itself for substantial and sustained growth during the next few years based on a proprietary product that has been slow to gain domestic acceptance. We believe things will change quickly, as the Company aggressively launches its products in international markets, and bolsters its U.S. marketing efforts. We think we've conveyed that the market (for RPC) is so vast it will take the Company the rest of this decade to even scratch the surface of its market scope. If we are right, investors are looking at an enterprise that can generate $100 million in sales and $65-$70 million in earnings by 2015. And it will be generating significant free cash flow streams. RPC has a decided head start at serving a substantial, but heretofore untapped and well-established market, and is within a year's timeline of achieving well-above-average success."

Leonard Bogner is President of Bogner Business Associates LLC and has 35 years' experience on Wall Street as an equities research analyst. This report can be accessed at the following internet address: http://www.cpreports.com/?p=730.

RPC Contact Information:
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company's corporate website at www.radient-pharma.com. For Investor Relations information contact Kristine Szarkowitz at IR@RadientPharma.com or 1.206.310.5323.

About Bogner Business Associates:
Bogner Business Associates LLC is a diversified management consultant/financial and public relations firm with unique specialization in the chemicals and allied products industries. Founded in 1994, the Company's activities address the broad range of corporate needs, including strategic planning and business development, mergers and acquisitions, and market evaluation and analysis. Financial and public relations services are aimed toward assisting emerging/micro and mini-cap enterprises.

About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared In Vitro Diagnostic Onko-Sure® Test Kits for colon-rectal cancer recurrence monitoring The company's focus is on the discovery, development and commercialization of unique high-value diagnostic tests that help physicians answer important clinical questions related to early disease-state detection, treatment strategy and the monitoring of disease progression or recurrence. To learn more about our company, people and potentially life-saving cancer test, visit www.radient-pharma.com.

Forward-Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

Contact Information

  • RPC Contact:
    Kristine Szarkowitz
    Director-Investor Relations
    Email Contact
    (Tel : ) 206.310.5323