NEW YORK, NY--(Marketwire -06/06/12)- Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview® (EIO) on AtheroNova Inc. (AHRO). The full 52-page report can be found at www.crystalra.com.
AtheroNova Inc. ("AtheroNova" or "the Company") is a development-stage biotechnology company targeting novel compounds to dissolve or regress atherosclerotic plaque deposits -- a thickening of the arteries due to buildup of fat, cholesterol, and other substances. These plaque deposits, which progressively narrow and block the arteries, are the main underlying cause of cardiovascular disease, including heart attack, stroke, and peripheral artery disease (PAD). The Company's most advanced candidate, AHRO-001, works to significantly reduce the incidence and severity of plaque by employing a bile salt to dissolve existing atherosclerotic plaque deposits as well as prevent the formation of new ones.
Bile salts are a U.S. Food and Drug Administration (FDA)-approved natural compound used to dissolve gallstones. Following a pre-Investigational New Drug (IND) meeting with the FDA in October 2011, the Company is now preparing for AHRO-001 to enter Phase I human clinical trials. Beyond development of AHRO-001, AtheroNova expects to employ its intellectual property (IP) to develop multiple pharmaceutical-grade applications for its compounds, potentially in the areas of obesity, hypertension, diabetes, PAD, localized transdermal fat dissolution, and the non-invasive dissolution of lipomas.
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About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality research on small- and mid-cap companies. The firm is led by veteran Wall Street sell-side analyst Jeffrey Kraws, who is well known by the international financial media for his years of work on Wall Street and for providing consistent award-winning analyses and developing long-term relationships on both the buy-side and sell-side. He has been consistently ranked on Wall Street among the Top Ten Analysts for pharmaceutical stock performance in the world for almost two decades as well as ranked as the Number One Stock Picker in the world for pharmaceuticals by Starmine and for estimates from Zacks. Additionally, Mr. Kraws has been 5-Star ranked for top biotechnology stock performance by Starmine.
Crystal Research Associates' unique and novel product, the Executive Informational Overview® (EIO), is free of investment ratings, target prices, and forward-looking financial models. The EIO presents a crystal clear, detailed report on a company (public or private) in a manner that is easily understood by the Wall Street financial community. The EIO details a company's product/technology/service offerings, market size(s), key intellectual property, leadership, growth strategy, competition, risks, financial statements, key events, and other such fundamental information. Crystal Research Associates has offices in New York City, West Palm Beach, Montréal, and Toronto. Crystal Research Associates' compensation by the Company for its first year of service in creating this report and for updates is forty-two thousand U.S. dollars and fifty thousand restricted shares.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including limited operating history, need for future capital, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including forms filed with the SEC.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates assumes no obligation to update any of the forward-looking statements in this release.