MYOS RENS Technology Inc (NASDAQ:MYOS): Here's The Date To Watch

MYOS RENS Technology Inc (NASDAQ:MYOS) is a stock that we first looked at during the middle of January. At the time, it had run up on the back of what we concluded was nothing but speculative buying volume on a low float, but we also noted that there was a near-term catalyst that could serve to compound the then-current upside momentum, and boost the company further.At the end of last week, we saw another pop up, and again, we can only really put this one down to speculative share acquisition. MYOS looks to be maintaining the gains, which suggests that the buyers are looking to hold ahead of the catalyst we highlighted last time as being a key point of focus, in anticipation of some further momentum as and when it hits press.So, with this in mind, let's recap what is involved, and try and put a target on any near-term run.This one is a biotechnology company that focuses on developing pharmaceutical products for muscle strengthening. Its products are a little different from the over-the-counter muscle strengthening products we see at health shops, supermarkets etc. in that they are pharmaceutical grade, and are therefore subject to clinical testing and FDA regulation ahead of any commercialization. Its lead asset right now is a development product called Fortetropin, but there isn't much information available as to how the product is faring along the development pathway. MYOS put out some data early last year, which looked promising, but hasn't said much on the asset since. Anyway, from a near-term valuation perspective, that is not what is important right now.What we're looking at is a legal dispute between the company and an entity called RENS, which for all intents and purposes, is a part of MYOS. The situation is this: back in March 2016, RENS invested $5.25 million in MYOS in return for some equity. A few days after the initial announcement, MYOS reported that it had appointed RENS Chairman, Ren Ren, as Global Chairman of MYOS, and a week or so after that, the company changed its name to MYOS RENS, from MYOS Corporation. Now it turns out that RENS hasn't made good on its side of the agreement, and MYOS has taken the latter to task on its default.Exactly what's going on behind the curtain remains unclear. It seems that both parties rushed into a transaction that has since gone sour, and our guess is that heading forward, the collaboration will uncouple and the two will sever ties with one another. Before that happens, however, and rooted in the payments already made, a legal dispute needs resolving. This resolution is our near-term focus. As per a recent 8K, a judge has ruled that RENS cannot unload any of its MYOS shares or exercise an associated warrant, until a reconvening on February 14.The speculative volume flowing towards MYOS right now is likely doing so in anticipation of this reconvening, and further, in anticipation of the situation falling in MYOS' favor. Of course, we don't know whether this will play out as expected, and post-reconvening, the whole situation could go against the company. If it does, we will likely see MYOS take a sharp hit as and when it reports the development.If things fall in favor of the company, however, we expect some immediate upside. Why? Well, because we have seen how this one can run on essentially no new developments. With a low float, said run has the potential to hit low to medium double-digit percentage points, and could be a nice quick turnaround trade.Like we said last time, this isn't one to get attached to. There is so much uncertainty surrounding its development asset that we can't accurately gauge future success with any degree of accuracy. As a short-term play, however, for a trader with risk tolerance, it might be an interesting one.We will be updating our subscribers as soon as we know more. For the latest updates on MYOS, sign up below!Disclosure: We have no position in MYOS and have not been compensated for this article.