BZNE | Traders Fall Into The Frosty, BioZone Pharmaceuticals

An article surfaced today detailing how one particular billionaire and his Company have made a significant move into the penny stock of Biozone Pharmaceuticals, Inc. (OTCBB:BZNE). The connection of Dr. Phillip Frost, a savvy investor whose name has been tagged on a number of OTC stocks we’ve covered in the past, to BZNE stock has triggered a momentous display of volume early today, despite the poor track record of both the company, and the other linkages he and Barry Honig have been insiders in. Considering it’s a Friday and the lack of juice in the market today, if you’re gonna be in something, this is atleast one that has a track record.

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BZNE Stock Quote

Market Cap: 52.90M
Last: 0.765 ▲ +0.085 (+12.50%)
Volume: 1,305,585
Dollar Volume: $975,328
Open: 0.73
High: 0.7601
Low: 0.72
Trades: 320
Authorized: 100,000,000
Issued and Outstanding: 70,111,325
14-Day Rel Strength: 53.78%
1st Resistance Point: 0.7767
1st Support Level: 0.7317

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Almost 4 weeks ago, MusclePharm Corporation (MSLP), a once loved penny stock before their reverse split, announced a $2 million strategic investment in BioZone Pharmaceuticals, but not a peep was heard anywhere. Today, BZNE stock suddenly is of importance thanks to an SA publishing which highlights “valuations” as the main theme to why BZNE stock is a good pick.

However let’s look at a few other facts:

From the most recent 10-Q: “Sales for the three months ended June 30, 2013 and 2012 were $1,955,982 and $4,912,144, respectively. The decrease in sales of $2,956,162 or 60.2% was primarily attributable to the loss of our largest customer in 2013 due to a voluntary recall of product supplied by the Company in December of 2012. This vendor represented approximately $1.5 million in sales in the prior year quarter. The remainder of the decrease is due reduced customer orders from decreased end-user demand.”

Another downer is that both Frost and Honig were also big investors in both BullFrog Gold (BFGC) and Pershing Gold (PGLC). Neither of the two ever amounted to anything for traders who didn’t flip intra-day and leaves reason to believe that a portion of the $10,108,082 in liabilities as of June 30, 2013 is taking advantage of converting that debt into cash with today’s surge on BZNE.

A third factor is that, in over a year, not one PR has come out from BioZone Pharmaceuticals. The Sept. 3 announcement was issued by MucsclePahrm, tagging the developer, manufacturer, and marketer of OTC drugs and preparations, cosmetics, and nutritional supplements. Sure, BioZone is real and all, but it doesn’t mean that its stock, BZNE, is going to increase in value just because some likely paid writer on Seeking Alpha has calculated the Company’s current cash position.

It will be a great thing to see BioZone’s QuSome® technology get some legs under it and be approved by the FDA one of these years, but because Frost’s Opko Health (NYSEAmex: OPKO) was able to convert notes into shares of BZNE at 0.40 per share isn’t enough to bring out the bulls.

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About BZNE Stock

BioZone Pharmaceuticals, Inc. is engaged in proprietary drug delivery technology as an enhancement for approved, generic prescription drugs that are limited due to poor stability or bioavailability or variable absorption.

Click here to view the SEC filings for BZNE.
Click here to view the website for Biozone Pharmaceuticals.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
09/26/13 0.5012 0.6900 0.5012 0.6800 +0.1788 +35.67% 128,900
09/25/13 0.6500 0.6500 0.5012 0.5012 -0.1488 -22.89% 1,100
09/24/13 0.6800 0.6800 0.4900 0.6500 -0.0300 -4.41% 8,500
09/23/13 0.5100 0.6800 0.4000 0.6800 +0.0199 +3.01% 302,800
09/19/13 0.7000 0.7000 0.6600 0.6601 +0.0800 -4.33% 11,500


Bottom Line:

Traditionally, the penny stocks on the OTC which Frost and Honig have been ted together to have not been great performers which makes the action on BZNE stock today pretty momentous. BZNE is definitely one to watch, especially for entries under the 0.50 range which, not today, and maybe not even next week, will come, lessening the risk and allowing for the Company to get their affairs in order to replace their major customer from last year.

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