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Pivotal Therapeutics Inc. Research Update Released

5/17/2013 9:39:46 AM

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New York, NY - On May 16, 2013, Taglich Brothers released an updated research report on Pivotal Therapeutics Inc. (PVTTF) and reiterated a Speculative Buy rating with the 12-month price target lowered to $0.25 per share from $0.60 due to reduced longer term revenue and a diminished sector valuation. The report noted the following key investment considerations:

• Vascazen, a new prescription Omega-3 medical food product, will fill an unmet dietary need in an estimated 16 million US cardiovascular disease patients at risk for sudden death and other adverse coronary events. A broader target market could range up to 74 million patients if Vascazen gains acceptance among internists an family medicine practitioners.

• Our longer-term revenue forecast - $26 million by 2017 - is scaled back to reflect expectations for a slower revenue ramp than anticipated earlier. The sales force has been reorganized and focused on high-potential markets. Fortified with favorable data from the REVEAL clinical study, the sales force should achieve better market penetration.

• Our 2013 loss projection of ($0.04) per share is unchanged but we have reduced our revenue forecast in light of a slower than anticipated ramp. Reductions in R&D and G&A expenses should narrow the company’s 2014 loss to ($0.02) per share.

• In 2012, Pivotal incurred a loss of $3.6 million, or ($0.05) per share, on revenue of $94,000, vs. a 2011 loss of ($0.06) per share. The company earned no revenue in 2011, its first year of operation. In 4Q12 (results reported Apr. 29, 2013) Pivotal incurred a loss of $1.1 million, or ($0.01) per share, on nominal net revenue. We projected a loss of ($0.01) per share on revenue of $77,000.

The full report can be viewed at

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Company Description:

Pivotal Therapeutics Inc., (PVTTF.PK) headquartered in Woodbridge, Ontario, Canada was established in 2010. Pivotal is a development stage specialty pharmaceutical company that is currently focused on the commercialization of Vascazen, an FDA-approved prescription Omega 3 medical food product developed to reduce risk factors that lead to adverse coronary events, including sudden death. Vascazen is the first of a range of proven formulations that Pivotal envisions taking to market while avoiding the costly regulatory review (New Drug Applications and Abbreviated New Drug Applications) that prescription drugs are subject to.

Clinical studies prove that Omega 3, commonly referred to as fish oil, significantly reduces cardiovascular risk factors stemming from dietary deficiencies in fish oils. Omega 3 is particularly effective when formulated, as Vascazen is, with high concentrations of eicosapentaenoic acid (EPA) and docosahexanenoic acid (DHA) in optimally balanced proportions.

Taglich Brothers:

Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.


The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. In December 2011 the company paid an initial monetary engagement fee of US$5,250 to Taglich Brothers, Inc. representing payment for the first three months of creation and dissemination of research reports, after which the company will pay Taglich Brothers, Inc. a monetary fee of US$1,750 per month for a minimum of three more months for such services.


Richard Oh


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