Misonix Zaps Prostate Cancer
Misonix (MSON ), a maker of medical and scientific gear, has investors interested in its new ultrasound device for prostate cancer. Shares of the little-known outfit have risen from 5.22 on Apr. 18 to 6.50 on Aug. 3. Its Sonablate 500 device is in Phase 2 and in three clinical trials in the U.S. -- and is already in the market in Britain, China, Italy, Japan, Mexico, and Russia, says CEO Michael McManus Jr. Over 3,000 treatments have been successfully done, he adds.
Sonablate, which uses high-intensity focused ultrasound, beams in intense heat that attacks prostate cancer cells. It targets the tissue, he says, without injuring adjacent flesh. (Usual treatment is removal of the prostate gland.) John Nobile of securities firm Taglich Brothers, which owns shares, expects earnings of 20 cents a share in 2005 on sales of $44 million and 40 cents in 2006 on $55 million. He rates it "speculative buy."
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