DALLAS, May 13, 2004 (PRIMEZONE) -- The Wall Street Small Cap Reporter, a leading source of news and information for the small cap investor, has given Cell Bio-Systems, Inc. (Pink Sheets:CBSI) its highest rating of "Strong Buy" in the medical device space.
Cell Bio-Systems is the exclusive licensee of two patented syringe connection products that it plans to adapt as disposable cannulas for liposuction and other living tissue procedures. Popularized by its use to insert or extract tissue during liposuction and collagen implant procedures, a cannula is an enclosed tubular device, currently made from stainless steel, that looks much like a large needle. Though re-sterilized, steel cannulas are reused in hundreds of procedures, typically for as long as two years or more. Despite safety concerns and procedural complications regularly ascribed to steel cannulas, no comparable, disposable device currently exists. CBSI is developing an affordable, disposable product line that will fill this void.
The Wall Street Small Cap Reporter has monitored the medical device space for several weeks and believes that the sector's small cap companies currently offer the best opportunities for significant gains in this space, given that most large cap medical device companies have achieved relative states of maturity in their corporate lifecycles.
Boston Scientific (NYSE: BSX), Zimmer Holdings (NYSE: ZMH), and Guidant Corporation (NYSE: GDT), for example, all are down about two percent in the past five days of trading, while Medtronic, Inc. (NYSE: MDT) and Stryker Corporation (NYSE: SYK) both are down about one percent from their Friday close. Stryker is the only company among the top five by market capitalization to have experienced a modest gain over the past two weeks.
Shares of CBSI closed yesterday at $1.60, and have proven that they can climb to $1.90 on good volume. The Wall Street Small Cap Reporter believes CBSI should continue attracting interest at its current price level.
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Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Cell Bio-Systems disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.