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AtheroNova (OTCBB: AHRO) is an early stage biotech company focused on discovery, research, development and licensing of novel compounds to reduce or regress atherosclerotic plaque deposits.  The Company's focus on compounds to reduce or eliminate atherosclerotic plaque deposits addresses the most lucrative segments of the multi-billion dollar prescription drug market: cardiovascular disease and stroke prevention.

Prime Equity Research released an Initiation of Coverage report on AtheroNova. The report includes the Company Background, Investment Merits, Investment Risks, Valuation & Financial Projections, Historical Financial Overview, Industry Trends & Market Potential, and a year-to-date Price Chart.

Below is a summary of the report:

"We Initiate Coverage of AtheroNova Inc. (“AHRO,” “AtheroNova” or “the Company”) with a Buy rating and assign a $2.27 per share price target. 

Key Investment Catalyst Highlights:

• Potential blockbuster therapy drug (AHRO-001) for coronary artery disease (CAD) could serve one of the most lucrative healthcare segments, specifically a commercial compound that can potentially regress the cause of heart attacks and strokes.
• Landmark UCLA study demonstrated AtheroNova.s AHRO-001 drug treatment resulted in a remarkable 95% reduction in arterial plaque formation at the innominate artery with no morbidity or mortality in pre-clinical studies. Current standards of care for the $20+ billion peer drug statins (Lipitor, Crestor) were determined ineffective at reducing plaque.
• Regression of plaque will become the new .gold standard. and AtheroNova is positioned to potentially lead the way with many applications directed at treating atherosclerosis with emulsifiers, such as bile salts, terpenes and saponins.
• Completion of pre-IND (Investigational New Drug) meeting with FDA for AHRO-001.
• Astounding Market Potential: All told, atherosclerosis and related pharmaceutical costs run more than $41 billion annually - 335 million prescriptions' worth - in the U.S. alone. AHRO-001 has the potential to reduce the greatest cause of death: heart disease.
• Market Barrier to Entry: AtheroNova currently has 22 patent pending applications and is anticipating a freedom to operate opinion from McDermott Will & Emery LLP, one of the leading Intellectual Property firms in the world.
• Diverse Product Pipeline beyond Lead product, AHRO-001: other patents pending treatments include hypertension, obesity, diabetes, and peripheral artery disease.
• AtheroNova entered into an equity agreement with Maxwell Biotech Group for up to $4.1 million investment in exchange for funding clinical Phase I and Phase II studies.
• Seasoned management with a shrewd low cost structure: The Company maintains low overhead with a consultant approach."

Read the full report below.