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NEW YORK, NY / ACCESSWIRE / June 29, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has initiated coverage of M Pharmaceutical, Inc. (CSX: MQ; OTCQB:MPHMF) with a price target of US$0.65/CAD$0.79.
The report is available here: MQ Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
Based in Vancouver, Canada, M Pharma is a development stage biomedical company focused on developing solutions to improve the health and quality of life people suffering from obesity and diabetes. The company has exclusive rights to an innovative family of biomedical technologies including: 1) Trimeo weight loss capsules; 2) the Trimtec gastric management system, a intended to deliver a "realistic, patient centered" approach with reduced invasiveness; and 3) eMosquito, a wearable blood monitor that utilizes novel micro-electromechanical technology for automatic and autonomous monitoring of blood glucose levels. We see M Pharma as potentially being a hidden gem in the biotechnology sector. The company is a newly public entity with strong leadership and a novel portfolio of biomedical technologies targeting the large and growing global markets of morbid obesity and diabetes.
"The company has recently completed several key strategic actions in its corporate structure, including the appointment of industry pioneer Dr. Martin Mintchev as CEO, , three strategic acquisitions to fuel growth and development, and several impressive additions to its Board of Directors and Scientific Advisory Board," stated Ajay Tandon, CEO of SeeThruEquity. "We are initiating coverage with a 12-month price target of US$0.65 per share."
Additional highlights from the report are as follows:
Large market opportunity targeting obesity and diabetes
We see tremendous potential for M Pharma if it can successfully develop and achieve clearance for its promising family of biomedical technologies. The company is targeting the large and growing multi-billion dollar markets of obesity and diabetes. Indeed, global weight management market is expected to rise from $148.1Bn in 2014 to $206.4Bn in 2019E, representing a compound annual growth rate of 6.9%. Similarly, Frost & Sullivan has estimated the global market for blood glucose products to be $8.67Bn per year.
New public company building momentum in healthcare
After becoming a public company through a merger transaction with First Sahara Energy, Inc. in February 2015, M Pharma has wasted little time building product momentum and articulating a compelling approach for managing obesity and diabetes. The company recently completed several key strategic actions in its corporate structure, including the completion of a 10:1 share consolidation to bring shares outstanding more in line with peers and finalizing three strategic acquisitions to fuel growth and development. Currently, M Pharma shares trade on the CSX, and we were pleased to see that the company announced on June 15, 2015, that it was granted approval to trade on the OTCQB under the ticker MPHMF. We see this as a nice development that will expand the company's potential institutional shareholder base.
Impressive leadership team taking place
Given that M Pharma is a development stage enterprise targeting a large potential market, we view its management team as core to any investment thesis. We were pleased to see that M Pharma announced that medical technology pioneer Dr. Martin Mintchev accepted the position as President and CEO on April 15, 2015. Dr. Mintchev brings a wealth of industry expertise and leadership experience to the company, as well as a deep understanding of M Pharma's innovative family of biomedical technologies. Indeed, Mintchev was the primary developer of the medical technologies held by M Pharma. We were also impressed to see the addition of Douglas Janzen to M Pharma's Scientific Advisory Board. Janzen is co-founder and managing partner of Northview Ventures and has completed over $1bn in equity financing and over $1bn in licensing deals in the biotechnology sector. He is also CEO of Aequus Pharmaceuticals (TSXV: AQS) and a director of Neovasc Inc. (NASDAQ: NVCN).
Initiate coverage with a price target of US $0.65/CAD$0.79
Our analysis indicates a fair value estimate of CAD $0.79 (USD $0.65) per share, implying an upside of 315.8% from the recent price of $0.19. We view M Pharma as an intriguing high risk / high reward investment targeting a large and growing segment of the healthcare industry.
Please review important disclosures on our website at www.seethruequity.com.
About M Pharmaceutical, Inc.
M Pharmaceutical Inc. is committed to developing and commercializing innovative biomedical technologies that improve the health and quality of life of people affected by obesity and diabetes. The Company currently has or has agreed to acquire the exclusive rights to a family of biomedical technologies including (i) the eMosquito, for automatic and autonomous monitoring of blood glucose by diabetics; (ii) temporary controllable pseudobezoars, an innovative method for non-invasive dynamic gastric volume reduction for weight loss that has been recently tested in blind, placebo-controlled human studies; and (iii) gastrointestinal neurostimulators, using a laparoscopically-implantable technique for the treatment of obesity without permanent anatomical modification of the stomach. Commercial development of eMosquito, Trimeo and Trimtec biomedical technologies will require successful coordination and execution of a wide variety of technology disciplines.
The "Better Health. Better Life." mantra and Circle of Life corporate identity is now online at www.m-pharma.ca.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
SOURCE: SeeThruEquity
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Kirin M. Smith, Chief Operating Officer
PCG Advisory Group
D: 646.863.6519 M: 646.823.8656
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New York, NY 10017
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