Trovagene Highlighted in Molecular Diagnostics Report
Stock analyst selects Trovagene and two others as companies to consider in view of expected growth and profits in molecular diagnostics
Online, September 6, 2012 (Newswire.com) - Trovagene, Inc., a developer of transrenal molecular diagnostics, was placed in lofty company with Abbott Diagnostics and Rosetta Genomics in the increasingly important molecular diagnostics sector.
Mel Daris, a former mutual fund industry trader from Boston who currently trades independently, singled out the three companies in a Seeking Alpha report on the medical community's expanding interest in molecular diagnostic testing.
"With advances in testing procedures, especially transrenal DNA diagnostics, patients can expect much less stress and pain when undergoing testing procedures," the September 4 report said. "Not only will this enhance a patient's health and reduce risk of fatality, this also increases profits for companies providing diagnostic services."
Daris said Abbott Diagnostics is controlled by Abbott Laboratories, and provides testing services and equipment to a variety of medical outlets, and Rosetta has developed tests for specific types of lung cancer.
On Trovagene (NASDAQ: TROV), the report said:
"Over the past year, Trovagene has shown it's a fierce competitor in the transrenal molecular diagnostics area. In addition to obtaining a license to study SF3B1 markers, the company also acquired MultiGEN Diagnostics clinical laboratory...for expansion purposes. The company also has plans to collaborate with The University of Texas MD Anderson Cancer Center to develop testing procedures to help diagnose those with pancreatic cancer."
Daris concluded that investors should pay particular attention to transrenal DNA testing "as this form of molecular diagnostics could become the new standard in testing for disease... (and) from a long-term investment perspective, molecular diagnostics should provide strong and steady returns."
The full Seeking Alpha report may be viewed at: http://seekingalpha.com/article/844971-3-stocks-to-consider-in-molecular-diagnostics
The report follows closely on Trovagene's announcement that it has received a milestone payment from Ipsogen S.A., a subsidiary of the QIAGEN group, resulting from a co-exclusive license agreement to manufacture and sell diagnostic kits for the detection of nucleophosmin protein (NPM1) mutations in patients with acute myeloid leukemia (AML.
"Trovagene is continuing to expand its commercial activity through its CLIA lab offerings and through external licensing opportunities," said Antonius Schuh, chief executive officer of Trovagene.
The full announcement may be viewed at:
Trovagene, headquartered in San Diego, is developing its patented technology for the detection of transrenal DNA and RNA, short nucleic acid fragments, originating from normal and diseased cell death that cross the kidney barrier and can be detected in urine. As a non-invasive and abundant sample, urine may overcome many of the cost and collection challenges presented by biopsy, as well as the volume limitations of blood.
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