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Mackie Research has initiated coverage on Spectral Medical (TSX:EDT) (OTCQX:EDTXF)

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Analyst Andre Uddin gives the company a speculative buy recommendation, and a 12-month target price of $2.50, a premium of 221% to the $0.78 price on January 12th, the day the report was issued. Spectral Medical is a Phase III therapeutic development company seeking U.S. FDA approval for its lead theranostics product for the treatment of endotoxemic septic shock.

Additional Information:

Company: Spectral Medical
Website: http://www.spectraldx.com/
Stock Symbol: TSX:EDT
Date Published: Jan 20, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch Media

Mackie Research has initiated coverage on Spectral Medical (TSX:EDT) (OTCQX:EDTXF).

Analyst Andre Uddin gives the company a speculative buy recommendation, and a 12-month target price of $2.50, a premium of 221% to the $0.78 price on January 12th, the day the report was issued.

Spectral Medical is a Phase III therapeutic development company seeking U.S. FDA approval for its lead theranostics product for the treatment of endotoxemic septic shock.

North America currently has no FDA-approved treatment for sepsis and septic shock, yet it claims victim to nearly 1 million people every year in the U.S. with more than 30% of those cases leading to death.

The company’s Toraymyxin™, a therapeutic hemoperfusion device that removes endotoxin, a main trigger of sepsis, from the bloodstream, is already approved in Europe and Japan, and has safely and successfully treated more than 150,000 sepsis patients in those markets.

Dr. Paul Walker, President & CEO stated: “We are now in the final stages of program execution to reach our goal of solving a very large unmet medical need in the area of septic shock, a condition which kills over 300,000 people in North America each year. We are becoming more confident each day about achieving a positive outcome for our clinical trial and a subsequent successful product launch into a $3 billion market where there are currently no other approved therapies for endotoxemic septic shock.”

Analyst Andre Uddin stated: “The potential lofty reward doesn’t come without risk. Spectral’s success depends on FDA-approval, but the complexity of sepsis makes it a high risk potential.”

The company currently trades at $0.79, well below the $2.50 target price, and with 190.8 million shares outstanding, the company is capitalized at $150.8 million.

For more information, please visit the company’s website www.spectraldx.com or contact Anthony Businskas, Executive VP and CFO, at 416-626-3233 ext 2200 or email tbusinskas@spectraldx.com.

Investor relations is handled by Ali Mahdavi of Spinnaker Capital Markets, who can be reached at 416-962-3300 or email am@spinnakercmi.com..

For more information about Mackie Research or to obtain the report on Spectral Medical contact your nearest Mackie Research office. Their branches are listed on their website at www.mackieresearch.com.

I’m Samantha Deutscher for InvestmentPitch Media