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Aida Pharmaceuticals (AIDA)

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Last Post: 1/29/2014 7:09:06 PM - Followers: 6 - Board type: Free - Posts Today: 0

This is the board for Aida Pharmaceuticals, a company based in Hangzhou, China. Aida's primary revenue-producing product is an antibiotic named Etimicin but Aida is currently developing other drugs as well. Earnings (late 2007) may be somewhat depressed as there is a new mandate in China which requires hospitals to purchase drugs only from pharmaceutical manufacturers and this has hurt results somewhat as distributors returned sales to Aida. Aida expects that this issue is resolved. Aida's earnings, similar to other Chinese pharmaceutical companies, appear to be highly seasonal with most of the revenues occuring during the fourth quarter.

Revenues/Earnings are as follows (some data is derived from other filings) ($): 
 

Qtr: Rev: COGS: Gr Pft SG&A Other NI: CompNI Shs: per sh.
3Q05 $6,249,343 $1,543,179 $4,706,164 $3,210,978      _ $730,540 $817,007 23,375,000 $0.035
4Q05 8,445,457 4,163,018 4,282,439 4,903,129      _ -30,452 -20,372 23,481,849 -0.001
1Q06 5,331,827 2,983,114 2,348,713 2,327,879      _ 14,536 58,237 25,000,000 0.002
2Q06 7,284,888 3,579,700 3,705,188 2,803,043      _ 398,888 414,243 25,000,000 0.017
3Q06 7,023,891 3,103,516 3,920,375 2,481,226      _ 919,285 968,626 25,000,000 0.039
4Q06 10,002,497 4,414,710 5,587,787 3,688,802      _ 120,875 296,941 27,000,000 0.011
1Q07 5,296,176 2,972,516 2,323,660 2,164,150      _ -160,204 42,574 27,000,000 0.002
2Q07 6,419,476 3,605,286 2,814,190 1,965,568      _ -16,315 367,603 27,000,000 0.014
3Q07 7,373,770 3,557,685 3,816,085 2,379,034      _ 519,061 541,213 27,000,000 0.020
4Q07 10,114,364 4,375,195 5,739,169 2,454,876      _ 2,397,283 2,193,730 27,000,000 0.081
1Q08 7,652,017 3,700,057 3,951,960 2,984,642      _ -18,980 56,193 27,000,000 0.002
2Q08 10,899,924 4,731,941 6,167,983 4,211,180 -8,077,264* -6,771,364 -6,960,862 27,000,000 -0.26
3Q08 11,885,458 4,958,239 6,927,219 4,069,538      _ 2,289,681 2,361,682 27,000,000 0.08

* During the second quarter of 2008, a company called Nanwang Information Industry Group Co. defaulted on its loans.  Aida was the guarantor of Nanwang's loan and had to repay around 50M RMB (about $7,000,000) to make good on Nanwang's default.  This resulted in the extraordinary loss per share during the second quarter of 2008.  In addition, $1,032,141 was paid out as a consulting fee for previous business development work.

Aida has also won several patent infringement suits against other Chinese companies which were counterfeiting Aida's products. This, combined with the Chinese government's mandate to only purchase pharmaceuticals directly from the manufacturers, could positively impact Aida's bottom line.

While the Etimicin sales seem promising, Aida Pharmaceuticals is really interesting because of the situation regarding their anti-cancer drug under development called Rh-Apo2L. This is being produced by subsidiary of Aida's called Shanghai Qiaer Bio-technology Co., Ltd which is 77.5% owned by Aida. The drug works by triggering apoptosis (programmed cell death) in cancer cells. Phase II testing has shown strong efficacy with fewer side effects than other anti-cancer drugs.

Despite the potential, the share price is possibly depressed since Rh-Apo2L is also being developed separately by Genentech and Amgen in the United States. The basis for Rh-Apo2L appears to be a public research paper published in the U.S.. In China, Qiaer (Aida) began work on the drug while in the U.S., Genentech and Amgen began work on the drug. Genentech and Amgen are obviously much bigger than Aida. Patent situations in China are fledgling and uncertain but this could certainly be an issue. Aida currently has patents on the drug in China while Genetech and Amgen undoubtedly have patents in the U.S.. If Genentech and Amgen feel they have claims over Aida's intellectual property, the dispute could hurt Aida.

The R&D landscape in China is that China can finish clinical trials much faster than the United States due to delays in the U.S. due to FDA approvals. This makes it seem probable that Aida will begin marketing the drug before Genentech and Amgen. Other issues are the lack of or reduced patent protection and enforcement. Chinese companies often manufacture U.S. drugs despite patent protection in the U.S.. Pfizer recently won a landmark suit in China against a Chinese company which was producing Viagra.

However, unlike the Pfizer case, theft of intellectual property doesn't seem to be the issue with Aida. Aida went through all the development of Rh-Apo2L themselves. While the Pfizer case was against a company which copied even the name "Viagra," Aida hasn't taken any intellectual property as far as is known. The coincidence of the name of the drug being co-developed, Rh-Apo2L (recombinant Apo2L), refers to the type of protein and not any trademarked name.

If all goes well with commercialization, the current share price is undoubtedly cheap. If commercialization doesn't go well, the company still has its profitable Etimicin sales as well as other drugs in the pipeline and this may limit the downside risk. Given the current profitable business and the large potential, Aida seems like a very attractive play.

Company's website: http://en.aidapharma.com

Press Releases (abbreviated from full press releases):

3/27/08 Aida Acquires High-Level Research Institute in China (Jiangsu Institute of Microbiology Co.) "The acquisition is expected to yield multiple new products for Aida, including several that are already in clinical trials by China's State Food and Drug Administration."

4/9/2008: Aida Pharmaceuticals, Inc. Announces New Antibiotic Drug Under Development "...its recently-acquired research institute in the Jiangsu Province, the Jiangsu Institute of Microbiology Co., Ltd or "JSIM", is developing a new wide-spectrum antibiotic, Wetimicin, in the People's Republic of China. Wetimicin is from the newest generation of amino-glycoside family of antibiotics and is being tested for the treatment of various inflammations, such as respiratory infection, urinogenital infection, soft skin tissue infection as well as infections from trauma and operations, etc. JSIM's scientists believe that it might be safer and more reliable for children and elderly patients than current drug offerings in the marketplace."

4/18/08 Aida Announces New Anti-Cancer Drug Under Development "...it is developing a potential cancer drug that seeks to trigger cell death in certain types of cancer. Vasostatin-Apo2L, a pre-clinical product being developed by Aida's Shanghai Qiaer subsidiary, is a recombinant fusion protein that integrates the function of extracted fragments of Vasostatin, an inhibitor of angiogenesis and tumor growth, with the function of Rh-Apo2L, which induces the apoptosis of cancer cells."

4/22/08 Aida Pharmaceuticals, Inc. Announces Availability of Downloadable Corporate Synopsis on its Website http://en.aidapharma.com

4/24/08: Aida Pharmaceuticals, Inc. Announces Completion of Research Institute Acquisition "...it has completed the acquisition of a controlling interest in Jiangsu Institute of Microbiology Co., Ltd. ("JSIM"), one of the leading microbiology research institutes in the People's Republic of China."

4/28/08 Aida Pharmaceuticals, Inc. Announces Update on Progress of Rh-Apo2L Testing "...the Company is compiling data for its Phase 2 testing results of Rh-Apo2L and expects to announce the findings within the next month. The Company previously announced that the target cancers for the drug have been determined and initial results are extremely positive."

12/03/08 Aida Pharmaceutials files 15-12G, certification of notices of termination of registration, with the SEC.  This will mean that Aida's shares will move to the pink sheets.

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PostSubject
#150   Hmmmm I messed up and Double posted I YeardMan 01/29/14 07:09:05 PM
#149   This page DEF needs some Updating for SURE!! YeardMan 01/29/14 07:09:00 PM
#148   Are You still Watching this AIDA Stock Paper Profit?? YeardMan 01/29/14 07:07:37 PM
#147   Only 1 post last year as well just YeardMan 01/29/14 07:06:27 PM
#146   WOW No posts here in like FOREVER Isnt YeardMan 01/29/14 07:04:46 PM
#145   AIDA is is getting attension and momentum kranthikumar 11/01/13 09:57:14 AM
#144   Aida had a new job posting on their PaperProphet 03/10/09 10:03:07 PM
#143   Symbol on Yahoo is now AIDA.PK. PaperProphet 12/08/08 04:07:23 PM
#142   QFA2008, have you heard anything about the company's PaperProphet 12/04/08 01:27:55 PM
#141   Yes. I sent an e-mail through Aida's PaperProphet 12/04/08 01:25:39 PM
#140   Filed 15g today to stop mkinhaw 12/04/08 01:06:31 PM
#139   Yes, it looks like the income tax benefit PaperProphet 11/21/08 11:06:25 AM
#138   looooks goood. tax benefit contributes some of the wave00 11/20/08 11:15:23 PM
#137   Quarterly report out today. PaperProphet 11/20/08 11:09:15 AM
#136   QFA2008, have you heard anything about the company PaperProphet 10/13/08 10:11:40 AM
#135   The stock took quite a hit today. PaperProphet 10/09/08 11:32:10 PM
#134   The stock took a massive hit when they PaperProphet 08/20/08 06:54:15 PM
#133   From 8/19 10-Q: wave00 08/20/08 01:03:56 PM
#132   Yes, they said they were compiling the Rh-APO2L PaperProphet 08/20/08 09:18:39 AM
#131   As I know, the Rh-Apo2L Phase II has QFA2008 08/20/08 01:13:16 AM
#130   10Q out. PaperProphet 08/20/08 12:23:54 AM
#129   NT 10-Q filed. PaperProphet 08/14/08 10:04:55 PM
#128   Thanks. The only big question I have PaperProphet 06/30/08 07:09:00 PM
#127   You're welcome! You done great job here too! QFA2008 06/28/08 11:59:12 PM
#126   It's good you can speak Chinese. I'm PaperProphet 06/28/08 06:10:17 PM
#125   Not investor relations! I call the company directly, QFA2008 06/27/08 11:12:27 PM
#124   That's good to hear. Certainly it's better PaperProphet 06/27/08 09:15:28 PM
#123   Yes, the company said they are waiting for QFA2008 06/27/08 07:52:35 PM
#122   Re:<"The results of Phase 2 clinical testing are PaperProphet 06/26/08 10:04:28 PM
#121   They said they would release the results of BMiles 06/24/08 12:42:46 AM
#120   The results of Phase 2 clinical testing are QFA2008 06/23/08 07:48:29 PM
#119   So who here keeps painting the 100 block BMiles 06/05/08 09:16:32 PM
#118   This is what I got back - BMiles 06/04/08 11:45:54 PM
#117   I haven't gotten the e-mail back as undeliverable PaperProphet 06/04/08 06:50:58 PM
#116   I am one step ahead of you on BMiles 06/04/08 06:24:13 PM
#115   I agree. It would be nice to PaperProphet 06/04/08 06:13:05 PM
#114   All the 100 share paints on the ASK BMiles 06/04/08 12:32:34 PM
#113   Whereever that the share distribution was coming from BMiles 06/03/08 03:23:06 PM
#112   The quiet before the storm? The rising trend BMiles 06/02/08 03:13:22 PM
#111   PP: Most of study locations for AMG 951 QFA2008 06/01/08 03:10:26 PM
#110   Looks like Amgen is working through their phase PaperProphet 06/01/08 01:07:46 AM
#109   It's been a month since they stated in BMiles 05/29/08 03:07:39 PM
#108   Nice Trend Channel at work - BMiles 05/27/08 03:15:21 PM
#107   I've updated the ibox with revenues and earnings PaperProphet 05/26/08 03:01:35 PM
#106   Thanks. It's helpful that you can read PaperProphet 05/26/08 02:57:42 PM
#105   From Jiangsu Institute of Microbiology Co. Chinese website, QFA2008 05/26/08 12:38:29 PM
#103   QFA, do you know anything about Jiangsu Institute PaperProphet 05/26/08 11:08:50 AM
#102   American Bulls says we have a very reliable BMiles 05/22/08 08:26:40 PM
#101   Wow, stock is on the move - trending BMiles 05/22/08 12:38:29 PM
#100   Most of Chinese companys have shows in Spring QFA2008 05/22/08 12:12:30 AM
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