Dow Jones 11719.41 +30.17 1:16 pm PDT, September 28, 2006 NASDAQ 2269.99 +6.60 For info, visit access.smallcapnetwork.com S & P 500 1338.85 +2.26 Change your subscription status here Russell 2000 732.58 +0.04 VOLUME 06: ISSUE 76 Multicell's Multiple Home-Run Opportunities  In our ongoing quest to find the best undervalued small-cap stock ideas before anyone else does, we recently came across an enterprise that could fit the description very nicely...and make some money for shareholders to boot. The company's drug therapies are on the cutting-edge of an $8 billion dollar market, but today they announced their entry into a completely different market...one worth $10 to $20 billion a year. You'd think the stock of a biotech company like that would already be through the roof. But, we're baffled how shares could be down more than 30% since the end of July...on no news whatsoever.  Oh well, we'd rather dwell on the opportunity presented by the dip - not the reason. Even just a rebound from the current price of 26 cents back up to July's closing price of 38 cents would translate into a gain of 46% for today's buyers. But wait, the opportunity gets even better...this stock is at a three-year low, even though nothing has changed with the company. Smell the opportunity? With the currently-oversold shares trading as high as $1 just a year ago, you don't need us to tell you the upside potential is huge.  Better yet, after a closer look at the company and its stock, we have to think the longer-term opportunity could be even bigger. To pin down why Multicell Technologies (OTCBB: MCET) shares could have major potential for appreciation, we wanted to get it straight from the top. It was Stephen Chang, CEO of Multicell Technologies, who described his company's advantage better than we ever could...as "multiple opportunities to hit home-runs". It didn't take us long to agree, and we think you'll see why below.  Based on the kind of potential rebound MCET shares could make, paired with the early steps towards significant revenues, we think this company's stock is worth putting on your radar...at least from a long-term view, and possibly a short-term view as well.    What They Do (Differently), & Why It Matters To You Multicell Technologies is best described as a product-development biopharmaceutical company. Historically, they were regarded primarily as a supplier to other biotech companies, as they provided the tools other biotech companies needed to develop drugs. But, as we've said of some of our very best opportunities here at the SmallCap Digest, that was then, this is now.  If you don't know the difference between a T-cell and a T-bone, don't worry - we can explain it well enough. The company is developing three distinct methods of treatments for three distinct medical needs. Take a look...  Stem-cell technology: Allows cells to grow while preserving their biological function biologically, including the ability to secreting several important biomolecules.  Toll-like receptor technology: Innate immunity - the first line of defense and the modulation of the immune system. Infectious diseases, cancer, hepatitis and autoimmune disorders such as type 1 diabetes and multiple sclerosis are modulated by the toll like receptors. T-cell tolerance technology: Controls the body's natural immune response to infectious disease or cancer.  And the diseases being combated? Multiple sclerosis, type-1 diabetes, and macular degeneration (and as of today, cancer). The three primary technologies above, alone or in combination with one another, have all shown promising results so far in early testing as treatments against these three medical problems. However, some of them are further along the development pipeline than others.  Take MCT-125 for instance. It's a treatment for chronic fatigue in MS patients, with a visible light at the end of the tunnel. MCT-125 completed a Phase II clinical trial and demonstrated significant efficacy in reducing chronic fatigue in MS patients. There is no drug specifically approved for the treatment of chronic fatigue in MS patients anywhere in the world.  But - and we can't stress this enough - the most impressive part about Multicell Technologies is not the next big drug currently in the works (although they're doing some serious cutting-edge stuff). Rather, it's the company's pipeline...those multiple opportunities to hit home runs - now, and later. Also in the works are effective treatments for pulmonary influenza, relapsing-remitting MS, and the creation of therapeutic proteins.  Better still is the fact that the technologies they've developed don't have to be used solely for the treatment of diabetes or multiple sclerosis. The same proprietary technology can be used to treat other diseases as well. Although time, money, and space may prevent Multicell from developing other practical applications with currently-patented techniques, the window is still wide open for licensing and development deals with other outfits.    Today's Big Announcement The timing of today's edition is hardly coincidental. The company just submitted a press release that should get the attention of the biotech world...and the investment community. Per the release (below), Multicell Technologies has submitted a patent for a novel method of cancer treatment. And to be frank, we don't think the word 'novel' seems to do it justice. Let's explain...  We mentioned the three specific technology platforms. Well, the patent covers the combination of two of them. The Toll-like receptor technology and their T-cell tolerance technology are being combined in a way expected to tweak the body's natural immune system, and load an antigen-presenting cell directly into a tumor. Early test results for this technique show successful eradication of solid tumors. Obviously the company is excited to be able to add cancer to its list of targets.  And how big is the cancer market? Each year, on a global basis, it's estimated that between $10 billion and $20 billion is spent on cancer treatment. Do the math here. The company's previous target market (diabetes, MS, macular degeneration) was only an $8 billion arena. By jumping into the cancer race, Multicell's potential revenue pool basically tripled. Yes, the competition is stiff, but it doesn't mean Multicell can't compete just as well. Today's patent filing is the first of many steps the company will take in the war against cancer. But, each of those steps has the potential to be rewarded by investors.    Multicell Shares - Two Timeframes to Think About Anybody even moderately savvy about biotechnology knows how these things work...usually new drugs have to go through years of research and development - and then a lengthy approval process - before they can actually be sold. However, those same investors know (or should) the bulk of the gain can come well before any final approval; all the market really needs to see to get excited is the proverbial 'light at the end of the tunnel'.  Ironically though, the premise may not even apply in this case.  Where the Multicell opportunity differs from most other biotech stocks is the concept we've already mentioned...the pipeline. With many biotech companies, the focus is on one drug or treatment that may or may not yet be driving revenue. Multicell, on the other hand, generates some revenue now as a biotech supplier, plus has the opportunity for bigger wins in the future...yet still isn't completely dependent on the success of one treatment. As for the chart, there are two key ideas - or timeframes - to consider regarding MCET shares. In the short run, we know Multicell's stock is as low as it's been in about three years. It was trading around 40 cents for most of the summer, which makes the current price of 26 cents a relative bargain. Just think of the return a trader could reap with just a retracement up to $1, where shares were just a year ago; the stock could quadruple with such a recovery. And, without any apparent reason for the sudden dip, we have to wonder if its oversold state also means it's ripe for such a bounce. All you need is a good catalyst to kick-start the move. Could today's announcement do the trick? Maybe.  In the long run, as always, sales and profits will drive the stock. The question then becomes one of how the company performs. Nobody has a crystal ball, but based on its sheer number of monetizable assets we see, we think Multicell Technologies deserves serious consideration from the investment community. If the bigger market players and institutions start poking around Multicell, and see the kinds of potential dollar signs up for grabs, these low prices may quickly vanish. Today's press release...    MultiCell Technologies Files Milestone Patent to Treat Cancer  Proprietary Technology Applies Company's Immune-Based Therapeutics to Target  Malignant Tumors in Potential Multibillion-Dollar Markets  MultiCell Technologies, Inc. (OTCBB: MCET), developing first-in-class drugs based on advanced immune system modulation and other proprietary technologies, today announced the filing of a milestone patent that provides a potential method for treating a range of malignant tumors using the Company's unique technologies to manipulate the immune system.  MultiCell is an innovator in the science of modulating the human immune system with unique platform technologies, focusing on the development of breakthrough drugs to treat serious autoimmune diseases, including multiple sclerosis and type-1 diabetes, as well as influenza. Currently, the market for therapies that address these diseases is estimated at $8 billion worldwide. The new patent filing broadens protection of MultiCell's intellectual property portfolio, and further expands the Company's potential therapeutic development targets to include cancer.  The patent filing, "Methods for Tumor Control and Treatment by Loading an Antigen Presenting Cell," covers the use of MultiCell's proprietary dsRNA and Toll-like receptor (TLR) technology platform to combat malignant tumors in human patients.  "The implications for this patent-pending technology are far-reaching and could someday help treat the millions of patients suffering from various cancers," said Dr. Stephen Chang, President and Chief Executive Officer of MultiCell. "We believe that this patent further validates our scientific and business model to develop drug candidates that work with the body's own immune system to deliver an entirely new generation of disease-specific immunotherapeutics."  The Company's technology platforms include TLR and T-cell targeting to modulate both the innate and adaptive immune systems, thus enabling the creation of advanced drug candidates that stimulate or suppress the immune system via disease-specific targeting.  MultiCell's new patent provides a method for treatment of a tumor after clinical diagnosis. The method involves the loading of an antigen presenting cell with at least one tumor associated T-cell epitope attached to an IgG backbone to form an Ig-peptide molecule followed by administration of the Ig-peptide molecule in vivo in conjunction with MultiCell's dsRNA TLR therapeutic.  MultiCell has a therapeutic pipeline with drug candidates already in various advanced stages of human clinical trials. These therapies include:  MCT-125 for the treatment of chronic fatigue in MS patients. MCT-125 completed a Phase II clinical trial and demonstrated significant efficacy in reducing chronic fatigue in MS patients. There is no drug specifically approved for the treatment of chronic fatigue in MS patients anywhere in the world.  MCT-175 for the treatment of relapsing-remitting MS. MCT-175, in preclinical development for the treatment of relapsing-remitting MS, targets disease specific autoaggressive T-cells that destroy the myelin sheath of nerve cells. MCT-175 successfully ameliorated the disease in animal models.  MCT-275 for the treatment of type-1 diabetes. MCT-275, in preclinical development, targets disease-specific autoaggressive T-cells that destroy insulin producing cells in the pancreas. MCT-275 completely reversed the type-1 diabetic phenotype and prolonged life in animal models.  MCT-465 for the treatment of virus infection. MCT-465 in preclinical studies successfully reduced pulmonary influenza virus levels 1,000-fold in animal models, and has demonstrated effectiveness in reducing virus levels of HIV and HCV in animal models.  About MultiCell Technologies, Inc.  MultiCell Technologies, Inc. is an integrated biopharmaceutical company committed to the development of breakthrough therapeutics based on a portfolio of therapeutic candidates and patented drug development technology. MultiCell's drug development program is focused on modulation of the immune system. The Company's lead drug candidates include drugs to treat MS-related chronic fatigue, relapsing-remitting multiple sclerosis, type-1 diabetes and infectious disease. The Company also holds unique cell-based technology for use in drug discovery screening applications, and is a leading producer of the cell lines needed by the biotechnology industry to develop new drugs and therapeutics. For more information about MultiCell Technologies, please visit http://www.MultiCelltech.com. For investor information about MultiCell, please visit http://www.trilogy-capital.com/tcp/multicell. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/multicell/quote.html. To view the Company's Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/multicell/factsheet.html. To listen to an archived investor conference call, visit http://www.trilogy-capital.com/tcp/multicell/conference.html.  Contact:  MultiCell Technologies, Inc.  Dr. Stephen Chang  MCETInvestor@MultiCelltech.com  or  Trilogy Capital Partners (Financial Communications)  Paul Karon, 800-592-6067  paul@trilogy-capital.com   We Value Your Feedback   Got comments, questions or suggestions? Send 'em on over: Editor@smallcapnetwork.com If you wish to send a written request or inquiry, please send it to our physical address: TGR Group, LLC 4653 Carmel Mtn Rd Suite 308 #402 San Diego, CA 92130 Novelos Reaches Milestone With Its Hepatitis-C Treatment Congratulations are in order for Novelos Therapeutics (OTCBB: NVLT); the company just enrolled its first test patient in its U.S. NOV-205 trial. Novelos' NOV-205 compound is a promising drug designed to fight hepatitis-C. It showed efficacy against hepatitis-B and C cases in Russian trials, and now the company will seek to confirm its effectiveness as they enter Phase 1b testing in the United States.  We already know the cancer market is roughly worth $10 billion to $20 billion a year, with some estimates being even higher. But, we weren't aware the hepatitis market is expected to be about $3 billion this year. That's a big piece of pie, but the mind-boggling part is how fast it's growing...by 2010, it's projected to be more than an $8 billion opportunity worldwide.  Of course, the other side of the coin is 'does it work?' Although it's only in Phase 1b testing in the U.S., in other geopolitical regions so far, the results have been good.  For the full blog entry, click here.    Commerce Planet Plants Two More E-Commerce Seeds Commerce Planet's (OTCBB: CPNE) bevy of upgrades and additions to its web site and customer service offerings continue to amaze us. A couple of weeks ago it was an online bill-pay utility but they've added two more since then...  Tuesday's upgrade was a self-help chat feature. The tool is expected to help drive revenue for the third party merchants, who will in turn pay Commerce Planet a nominal acquisition fee.  Today's installment - another customer retention tool - is a comparison shopping web site called SearchDiscount.com. This newest shopping site, powered by PriceGrabber.com, will allow Commerce Planet's customers to do comparison shopping, and see vendor ratings/reviews.  All of these seemingly minor details just make the Planet's library of site(s) 'sticky'...a phrase used to describe a web site that is so feature-rich (much of it for free), it's hard for a user to navigate anywhere else. Of course, 'sticky' is a relative term; in Commerce Planet's case, the appeal is primarily to those doing e-commerce in one fashion or another. However, the appeal does indeed mean eventual revenue. Why do you think the stock has moved from 19 cents to the current price of $1.25 in just a little over six months? That's a 557% gain so far, and in our opinion, more of the same could be on the way.  For the full release, click here.   Follow Up Questions With CEL-SCI CEO Geert Kersten Never let it be said we didn't put it all on the table. After last Friday's Q&A session with CEL-SCI (AMEX: CVM) CEO Geert Kersten, we got a handful of follow-up questions for him. We forwarded them, and he responded. Here are the unedited questions and answers...the only thing we changed was the formatting so we could present it in the web site.  Q. Why don't they have a product after 15 years of development? Why are they just starting phase II trials this late in the cycle? Multikine has been around for over 10 years.  A. The person says "why are they starting Phase II studies this late in the cycle"? The person did not read well. Phase II is complete and we are moving into Phase III. It typically takes $800 million and 15 - 20 years to develop a drug. Things can take longer in biotech because of lack of funds.  Q. Why did they keep switching their development to the next best thing instead of focusing on something they saw promising so long ago?  A. We have not switched our focus. It is only that investors were more excited by our AIDS vaccine because it was in the news during the 1990s.  Q. Why does Geert talk abut his stock purchases without talking about his stock sales? Why has he been consistently selling blocks of shares?  A. I have not sold any shares since 2000, only bought shares, when I exercised 20,000 options.  Subscribe Information is power and timely information is profitable. Become informed and profit from SmallCapDigest Profiles and Trading Alerts by becoming a Preferred Member today. There is no cost associated with your email subscription. Add your email address below and make sure to check your email inbox and confirm your opt-in request to start receiving the SmallCapDigest Email Newsletter on a regular basis. To ensure newsletter delivery, you can add any additional email addresses you may have to the SmallCapDigest Member List. Receiving the SmallCapDigest Newsletter in multiple locations is the best way of making sure you don't miss the next investing or trading opportunity! For web based email addresses, the SmallCapDigest recommends @yahoo.com or @aol.com for timely and reliable email newsletter delivery. Subscribe Here Note: Your email address will be kept strictly confidential, and will not be shared with any other entity for any purpose at any time. If you no longer wish to receive the SmallCapDigest, simply follow the instructions located at the bottom of every SmallCapDigest Newsletter Edition. Unsubscribe Here D I S C L A I M E R: The Small Cap Digest, the Small Cap Network, its website and email newsletter (hereafter, cumulatively referred to as "SCD") , is an independent electronic publication committed to providing its readers with factual information on select publicly traded companies. SCD is owned and operated by TGR Group, LLC ("TGR"). TGR is not a registered investment advisor or broker-dealer. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible.  Moreover, as detailed below, TGR accepts compensation from third party consultants and/or companies, which it features in the publication and circulation of SCD. To the degrees enumerated herein, SCD should not be regarded as an independent publication.  Click Here or go to http://access.smallcapnetwork.com/compensation_disclosure.html to view our compensation on every company we have ever covered, or visit the following web address: http://www.smallnetwork.net/profile_disclosure.html for our full profiles and http://access.smallcapnetwork.com/short_term_alerts.html for Trading Alerts.  TGR Group LLC has been paid a fee of $15,000 by MultiCell Technologies for coverage of the company. In addition, TGR Group LLC has been pledged 100,000 warrants with an exercise price of $.60, convertible into restricted shares of Multicell, and 100,000 warrants with an exercise price of $.40, convertible into free trading shares of Mutlicell by Trilogy Capital Partners for coverage of the company. TGR Group LLC has been paid a fee of $25,000 and 100,000 shares of newly issued restricted stock by Novelos for coverage of the Company. The aforementioned shares have become free trading under Rule 144. TGR Group LLC has been paid a fee of $60,000 by Commerce Planet for coverage of the company. In addition, one of the principles of TGR Group LLC is also a principle of MarketByte LLC. In a separate contractual relationship in 2004, MarketByte LLC was paid a fee of $25,000 in cash and 750,000 newly issued, restricted shares by Commerce Planet for coverage of the company. The aforementioned shares are all currently eligible to be free trading. The term of MarketByte's obligation to Commerce Planet has expired. TGR Group LLC has been paid a fee of $25,000 and 150,000 shares of newly issued restricted stock by Cel-Sci for coverage of the Company. Additionally, back in November of 2002, TGR Group LLC was paid a fee of $25,000 and 250,000 shares of newly issued restricted stock of Cel-Sci for coverage of the company until November of 2003. The aforementioned 250,000 restricted shares became free trading under SEC rule 144 and were sold in the open market prior to the company entering into a new contract agreement with TGR Group in February of 2006. From time to time TGR sells shares received as compensation for coverage of client companies. Shares received are sold in the open market. Since the shares are received as compensation for services as previously disclosed, and not for investment purposes, TGR does not view the sale of the shares as contradictory to any opinions delivered in the content. 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