Manhattan Scientifics Inc. (OTC:MHTX) stock is riding the wave of appreciation and the management seems to be very motivated to keep it that way as long as they can. The latest press release announced intentions to sign a letter of intent.The announcement looks like being composed just to keep traders excited, as it only points to possible further business cooperation with NanoMet. The Russian enterprise helped in the development of nanotitanium. In the lack of other news, the press release stresses on the importance of the newly developed nano-medicine technology.
The current price rally was created by MHTX’s lead scientist Dr. Terry Lowe getting a new dental implant made from nanotitanium, a “super-metal” created using a license held by Manhattan Scientifics.[BANNER]
Following the first procedure, traders are now waiting for new cooperation agreements about the distribution. It will take long for the development-stage company to get things organized and funded on their own. The company relies on their partner for funding and taking the nanotitatium to the market.
OTC traded stock is currently priced at a large premium on the company’s fundamental value. The market cap of over $37 million is holding on the future applications of nanotitanium and the hope that the company will be able to get the business going in a timely manner.
While there is a potential setup for value growth on the long-term, the currently high price is not very likely to go above 10-12 cents per share until there is some material news.
