Radient Pharmaceuticals Corporation fka RXPC

[GetSeriousOK]

GCDx is merging with QuantRx, leaving Radient behind.

http://www.businesswire.com/news/home/20150929005950/en/QuantRx-Biomedical-Signs-Letter-Intent-Acquire-Global

So we can remove GCDx from the Radient Reverse Triangular Backdoor Creeping Takeover story. Hate to see them go!

I love the hype. Witness the first paragraph:

"QuantRx® Biomedical Corporation ("QuantRx" or the "Company") (OTCBB: QTXB) and Global Cancer Diagnostics Inc. (“Global”), a privately held laboratory, jointly announce that they have signed a letter of intent to combine."

"Global, a CLIA-certified diagnostics laboratory based in Tempe, Arizona, has developed a low cost, highly accurate over-the-counter lung cancer screening test marketed under the name “The Lung Cancer Test™”"

That's a stretch, to be kind. Global didn't "develop" anything, they just repackaged DR-70. And at $99 it's not low cost. and it's not "highly accurate" -- on the contrary, at 95% it's unacceptably inaccurate as a screener -- MacLellan himself even admitted that. And we all know it doesn't detect LUNG cancer specifically -- it detects FDP's which may or may not indicate cancer which may or may not be LUNG cancer.

"Global’s proprietary technology combines low reagent and labor costs to provide an affordable self-pay solution. "

"Self Pay" as in "we will never get reinsurance reimbursement for this thing." and "Proprietary" as in "nobody else in the USA is bothering with DR-70 because everyone here knows it's a bust."

"William Gartner, CEO of Global Diagnostics Inc., said.... 'Our enthusiasm is supported and validated by several large drug store chains, many of which have expressed significant interest in the product’s potential especially in light of the importance of early detection and its profound impact on prognoses and survival rates.'"

BS. DR-70 will never get FDA clearance in the USA for OTC. NEVER. So "Several large drug store chains" probably means one chain in the UK.

Great stuff! I can only imagine how excited QTXB shareholders are to hear this news! I looked at their financials and that company is just another debt-ridden zombie.... The LAST thing they need is DR-70 in their pipeline. IMO, there is only oen reason to combine these two failed unfunded biotech companies: maybe they can drum up some new funding. I bet our Merger Theorists will invest!