Agoracom

I also went to the link to Dutton Associates and found the Update Report, dated 10/10/2006, which gives a Recent Price of $0.09 and a Target Price (12 months) of $0.18. This same link also provides a previous Research Note regarding AlphaRX, dated 04/11/2006, which gave a Recent Price of $0.20 and a Target Price (12 months)of $0.35. I tried to find out why both the "Recent Price" and "Target Price" fell by comparing the two reports. Apparently, the earlier report expected the results for Phase 2 for Indaflex to be completed sucessfully by the third quarter - ie. September 30, 2006. The more recent report did not explain why Phase 2 was not completed by this date or give a revised date for completion. The more recent report did say that "Patient enrollment has taken somewhat longer than anticipated". I was wondering why that is a problem. Isn't osteoarthritis a common ailment, suffered by millions of available subjects? The later report also anticipates FDA clearance for Indaflex to be around mid- 2009, as compared to mid-2008 in the earlier report. What happened to cause a year of delay that is not explained between the two research reports? I am also wondering how Dutton Research came up with its Target Price for both reports. I read through the texts of both reports and cannot find the rationales for the Target Prices. Did AlphaRX review these reports and agree with the Target Prices? If so, on what basis? Am I asking the right people? Is Agoracom Investor Relations the same as the Investor Relations for AlphaRX? Regards, samuels3