NEW YORK, Feb. 25, 2002 (PRIMEZONE) -- Barrow Street Research, Inc., an independent research firm, today announced that it has initiated coverage of Calypte Biomedical Corporation, (OTCBB:CALY), with a strong buy recommendation.
"With AIDS poised to become the greatest pandemic in world history, surpassing the black plague of medieval times in the number of deaths it will cause," said the report, "the mission of Calypte Biomedical Corporation, a public healthcare company dedicated to the development of urine-based diagnostic products and services, takes on a role of increasing world importance.
"Despite the progress that has been made in recent years in finding new drug combinations that suppress the AIDS virus, there is still no vaccine or cure in sight. Accordingly, Calypte testing products create more opportunities for better healthcare by making accurate, comprehensive testing solutions easier, faster, and more accessible ... To help stop the spread of AIDS, Calypte Biomedical Corporation is devoted to developing tests that make testing for HIV exposure as easy as possible. Around the world, people need tests for HIV exposure that are simple, quick, inexpensive, and reliable. In our opinion, CALY's urine-based HIV tests meet these urgent needs," the Barrow Street report continued.
In summarizing its recommendation, Barrow Street Research said, "Our research suggests that Calypte is poised to achieve greater market penetration for its urine-based HIV tests, and that other products now in the pipeline could prove very successful in promoting the company's revenue growth ... Accordingly, we view the CALY shares as representing an interesting opportunity for high-risk oriented investors to attain well above average capital gains."
Disclaimer
Barrow Street Research, Inc. (hereafter referred to as BSR) is an independent research firm that produces a comprehensive range of financial oriented publications, including research reports such as the one on Calypte Biomedical Corporation. This report is based on BSR's independent analysis and judgment but relies on material supplied by the Subject Company and other sources believed to be reliable. The information contained in this report is subject to change without notice, and BSR assumes no responsibility to update information contained in this report. The information contained in this report is not intended to be, and shall not constitute, an offer to sell or solicitation of any offer to buy any security. Investors are advised to consult their personal broker or investment advisor before making any investment decision concerning the Subject Company. In addition, investors are urged to complete their own due diligence on the Subject Company. Investment in Calypte Biomedical, Inc. entails the assumption of a high degree of risk. Access to additional information is available on the BSR web site (www.barrowstreet.com) including links to sites that have additional information on Calypte Biomedical, Inc. BSR has received a fee of $6,000 from a third party -- the Investor Relations Network -- for the production and distribution of this report.