New York, NY / ACCESSWIRE / April 24, 2014 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a quarterly update on Manhattan Scientifics, Inc. (OTCQB: MHTX) for fiscal Q4 2013 and FY 2013.
“MHTX has numerous catalysts on the horizon in the 2014-2015E timeframe. Among them are the recent developments with Carpenter and The University of Texas MD Anderson Cancer Center. Carpenter is in the process of building out a large scale production facility, which we have modeled to produce nanostructured titanium in 4Q14E. MHTX announced an agreement to collaborate with The University of Texas MD Anderson Cancer Center (“MD Anderson”) to advance, demonstrate and validate MHTX’s technology for the early detection of cancer,” commented Ajay Tandon, CEO of SeeThruEquity. “Given the transformative possibilities for MHTX in 2014, we are raising our price target to $0.25 per share.”
Highlights of the quarter and year are as follows:
- MHTX reported 2013 revenues of $652k, down 5.9% from $693k in 2012.
- MHTX reported a net loss of ($1.9mn), or ($0.00) per share for 2013, compared with a loss of ($2.1mn), or ($0.00) per share in 2012.
- On April 1, 2014, MHTX announced that it had received a $600k royalty payment from Carpenter Technology Corporation (“Carpenter”).
- On March 18, 2014, MHTX announced a collaboration with Azano Biotech that will make PrecisionMRX Nanoparticles available for purchase. This is the first time that the Senior PrecisionMRXNanoparticles will be made available for use outside of Senior Scientific’s own programs.
- On February 12, 2014, MHTX announced securities purchase agreements totaling $1.37mn.
The report is available at: MHTX Quarterly Update Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack’s.
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About Manhattan Scientifics
Manhattan Scientifics Inc. (http://www.mhtx.com/) is located in New Mexico, New York and Montreal, is focused on the commercialization of disruptive technologies in the nano-medicine space. It has achieved several critical milestones in the development of its proprietary technology for the very early detection of cancer. The company is also at work with its licensed NYSE “partner” to commercialize medical prosthetics applications for its patented ultra-fine-grain nanotechnology metals.