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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Pharma Stocks Under $3


6. Zalicus (ZLCS) is a biopharmaceutical company engaged in developing drug candidates for treating pain and inflammation. The company is committed to developing its drug discovery platform and research and development of its drug candidates including preclinical and clinical trials. Besides, it is also seeking IP protection for its technology and product candidates.

For 2011 first quarter, total revenue decreased 96.9% to $1.1 million from $41.1 million in the year-ago quarter. This decline is due to a $40 million milestone payment from its commercial partner Covidien following the FDA approval of Exalgo on March 1, 2010 compared to $0.4 million in royalty revenue from Covidien based on Exalgo sales for the quarter ended March 31, 2011. As a result, net loss widened to $10.7 million or 12 cents per share from $3.1 million or 5 cents per share in the year-ago quarter.

Cash and cash equivalents soared to $14.7 million, increasing 420% sequentially. Current ratio improved to 6.07 from 5.29. The company revealed that Z160, a novel oral N-type calcium channel blocker, has been reformulated to address solubility and bioavailability issues and is being advanced toward Phase-I clinical trial by the end of this year.

Moreover, Z944 -- a novel oral T-type calcium channel blocker -- has been advanced into IND-enabling toxicology studies with the objective of initiating Phase-1 clinical development in 2011.

Of the three analysts covering the stock, 67% recommend a buy and the rest, rate it a hold. There are no sell ratings on the stock. On average, analysts estimate 125.2% upside to $5 in value from current levels.

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