March 27, 2008
Knobias Clip Report (03-26-2008)
By admin
Submitted By Knobias ClipReport
LUNA: Shares Continue to Rally on Nanomedicine for Hair Growth Discovery
Wednesday’s session saw a relapse back to the ways of a few weeks ago with the dollar falling and oil rising. The Dow also saw its gains continue to erode with economic data from durable goods slip for the second straight month. The culmination was a triple digit loss for the Dow and shaky investor confidence for the near term.
With all of the attention being paid to economic doom and gloom, one name seemed to have a piece of news that slipped somewhat under the radar of many.
Luna Innovations, Inc. (LUNA) develops and manufactures new-generation products for the healthcare, telecommunications, energy and defense markets. Luna’s products are used to measure, monitor, protect and improve critical processes in the markets they serve. Luna nanoWorks is a division of Luna Innovations. With a world-class nanomaterial manufacturing facility in Danville, Virginia, the nanoWorks Division is developing products empowered by nanomaterials with applications in diagnostics, therapuetics, and organic solar cells.
The name may be familiar to many following their multi-year development and supply agreement with Intuitive Surgical (ISRG) signed in June of last year. Under the terms of the multi-year agreement, Luna would develop and supply its fiber optic-based shape sensing and position tracking system for integration into Intuitive Surgical’s products, which includes the da Vinci(R) Surgical System.
Luna’s shape sensing and position tracking system provides real-time position measurements to help surgeons navigate through the body. The system consists of software, instrumentation and, disposable optical sensing fiber. The technology, originally developed at NASA and recognized as having use in medical applications since early 2005, is unique and designed to provide the user with an accurate, direct and continuous measurement of device location with no adverse effect from line of sight limitations and without introducing electrical signals or radiation into the body.
On Tuesday Luna announced the discovery that a nanomedicine prototype aids in the growth of new hair follicles. Scientists at Luna’s nanoWorks Division in Danville, VA, have been developing a portfolio of new candidates based on antioxidant nanomaterials which could lead to a platform technology for treating a wide range of diseases.
“One of our new nanomedicine prototypes, after only two weeks of treatment, was found to increase the number of hair follicles fourfold in mice which are born genetically hairless,” said Robert Lenk, President of Luna’s nanoWorks Division in the press release.
Luna noted that they were working with scientists at The Hamner Institutes for Health Sciences to further pursue their discovery in the hope of identifying a therapeutic aide to potentially treat male pattern baldness.
Following the announcement, shares rallied from $5 to $6, trading at $6.17, up 7.5% on Wednesday. With any other positive news from the Company regarding this prototype, shares could see much higher value. With that in mind, investors would be wise to watch.
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