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Hope so, but would rather have cash at this point since Inovio is also losing money.
It means stock in Inovio, right?
Hope it means some relief. We really got screwed by BJCT management on this one.
Divide each amount by the 18 million shares outstanding and the conversion amount of the preferred stock and that is what each share is going to receive.
What does this mean for shareholders of BJCT?
"Inovio buys Bioject for $5.5M"
http://seekingalpha.com/news/3167119-inovio-buys-bioject-5_5m?uprof=44#email_link
Inovio Pharmaceuticals (INO -6%) acquires all the assets of Bioject Medical Technologies (OTC:BJCT), including its needle-free injection technology, for $5.5M in cash and stock. The transaction complements Inovio's needle-free skin surface electroporation technology under development for the potential administration its DNA vaccines.Under the terms of the deal, Bioject will receive $4.5M in Inovio stock and $1.0M in cash."
I just called the corporate office of BJCT -- Investor Relations, Customer Service and A/P.-- all went to voice mail.
I also called the California Business office number; there was not even voice mail.
Hope to the company puts out a statement.
Looks like shareholders are toast - https://www.sec.gov/alj/aljdec/2016/id952cff.pdf
I wonder if one of those law firms that are always announcing an "investigation" into certain securities will look at this one.
But with no market or market makers making quotes, they will be worthless
The ownership in the company does not change. Having the registration of shares revoked is the least costly way to go private. They may have done this for several reasons. To save the costs of being public, to make an acquisition easier without all the regulatory hurdles, or simply to shut its doors. Who knows. But your shares are your shares, and you still own them
Thanks. So a shareholder has no standing if the company goes privately? Who owns the company then?
If the stock gets deregistered and there are no market makers then I think it is dead and share owners are bagholders. Looks like we are next to dead anyway - http://www.otcmarkets.com/stock/BJCT/quote
How does that work?
Sorry for double post
Looks like BJCT may sell out its shareholders
https://www.sec.gov/alj/aljorders/2016/ap-3520.pdf
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ADMINISTRATIVE PROCEEDINGS RULINGS
Release No. 3520/January 19, 2016
ADMINISTRATIVE PROCEEDING
File No. 3-17015
In the Matter of :
:
BIOJECT MEDICAL TECHNOLOGIES, INC., : ORDER TO SHOW CAUSE
BLACK CASTLE DEVELOPMENTS HOLDINGS, INC. :
(n/k/a ingXABO CORPORATION), :
CATALYST RESOURCE GROUP, INC., :
SSI INTERNATIONAL, LTD., :
STRIKE AXE, INC., and :
VIPER POWERSPORTS, INC. :
The Securities and Exchange Commission instituted this proceeding with an Order
Instituting Proceedings (OIP), pursuant to Section 12(j) of the Securities Exchange Act of 1934, on
December 22, 2015. The OIP alleges that each Respondent is a corporation with a class of securities
registered with the Commission pursuant to Section 12(g) of the Exchange Act and has repeatedly
failed to file required periodic reports. The Division of Enforcement is seeking to revoke the
registrations of Respondents’ securities.
The OIP provides that each Respondent’s Answer is due within ten days of service of the
OIP on it. See OIP at 3; 17 C.F.R. § 201.220(b). Each Respondent was served with the OIP by
December 29, 2015, by USPS Express Mail delivery or attempted delivery at “the most recent
address shown on [its] most recent filing with the Commission.” 17 C.F.R. § 201.141(a)(2)(ii). To
date, each Respondent has failed to file an Answer within the time provided.
Accordingly, each Respondent IS ORDERED TO SHOW CAUSE, by February 2, 2016,
why it should not be deemed to be in default and the registration of its securities revoked. See OIP
at 3-4; 17 C.F.R. §§ 201.155(a), .220(f).
/S/ Carol Fox Foelak
Carol Fox Foelak
Administrative Law Judge
Thank you...I'll watch it.
My plan B - RXSF
Thank you for the info. My dad has been an investor here for well over 15 years. I'll let him know what is going on.
As for SMME...I fair as well as the others. Still hoping but coming up with a Plan B for retirement.
Hope the new year goes well for you...and me. :)
Its not inside information but I may be able to color it for you. A few years back, the FDA started requiring makers of needleless injectors to be bundled with a specific formulary in order to get approval by the FDA to commercialize this type of product for healthcare. Some companies, like PharmaJet, started bundling its needleless injector with influenza and insulin type medications (both are non-prescription BTW), and most of those devices are now one-off's, or single-use disposables. The BJCT unit was developed for multiple use, considering its materials and functionality.
I personal like re-usable jet injectors with certain medications, more on the opioid - pain side. BJCT was unable to secure a US pharma to partner with and sought foreign distribution, which, under the circumstances, was the only direction it could go in.
The company stopped filing its required disclosures with the SEC and after a time period, the SEC brings actions to de-register (revoke) the companies registration, or its ability to have its shares listed for trading, effectively making it a private company. Its a severe blow to its shareholders, but this is usually done for one of 2 reasons. The company has run out of resources to continue as a public company, or it wants to go private to try to attract a buyer, so not sure what the behind the scenes intentions are, but as you know, I am invested in 2 other companies that focus on biometric technology, one of which has spoken with the lead investor of this company, but I don't know what has transpired, if anything.
How are you making out over at SMME?
Professor...nice to see you get around.
So what happened here? Any inside information you can share?
The FDA definitely screwed them. I wonder how much money exchanged hands for the regular needle industry to buy off FDA officials.
But, it is the SEC that is really screwing them (and all the shareholders) right now.
Filings arent cheap and auditors are even more expensive. For a company that was running on really tight operational capital it didnt make sense. I know they wanted to but just couldnt afford it.
The FDA really screwed over these guys.
Hopefully they can partner with someone or go private.
GLTA & JMO
This note at the bottom of the order leads me to believe that Bioject did respond:
Each Respondent other than Catalyst Resource Group, Inc., was served with the OIP by December 29, 2015, by USPS Express Mail delivery or attempted delivery at “the most recent address shown
on [its] most recent filing with the Commission.”
To allow time for Answers, the hearing will be postponed sine die, and a prehearing conference will be held by telephone on February 26, 2016, at 11:00 a.m. EST, if the proceeding has not been resolved by then.
that's not good news. seeing how this company has yet to do anything about their filings, looks like they don't care if they get revoked
Latest administrative order - https://www.sec.gov/alj/aljorders/2016/ap-3487.pdf BJCT .0001 x .0001
Some companies stop filing because it costs $$ to engage a PCAOB registered accountant.
It will have to make up 4 years of audited financials. Better off being an acquisition target or its just going private. Eventually, the SEC will revoke the 12G registration, and that will make the company private.
I have no idea why this company stopped filing per otc guidelines.
Hopefully they respond cause the grey market blows
Might be my first tax loss for the forthcoming 2016! They have 10 days to respond to the Administrative order. Also, LIFE SCIENCES OPPORTUNITIES FUND II LP owns nearly 12 million shares and as their largest shareholder I would hope that they have already been on the phone with the CFO asking "WTF is going on with your financials!?"
Probably open on the grey market in 2 weeks
Anyone know when this stock will trade again?
BJCT SEC Suspension for Financials / Filings delinquencies:
http://www.sec.gov/litigation/suspensions/2015/34-76727.pdf
Order:
http://www.sec.gov/litigation/suspensions/2015/34-76727-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2015/34-76728.pdf
I have searched and dug all sorts of sources and turned up nothing. For someone to have bid that up in 6 minutes at such a high percentage tells me that someone has non-public info. If they are willing to pay .08 a share, they think/know it is worth more. This will be interesting.
That was exciting. There must have been a news blip somewhere that had someone (or a few people) cause the volume to spike (accumulation). The volume spikes over the last few months have usually been distribution. Will Santa Clause show up.... ho, ho, ho
Hi ROI - yep, looking good today.
BIOJECT RECIEVES REGISTRATION APPROVAL IN ECUADOR
Tigard, OR –October 21, 2015 – Bioject Medical Technologies Inc. (OTC Pink: BJCT), a leading developer and manufacturer of needle-free injection technology, today announced that it has received registration approval for its needle-free injection products from the Ministry of Health in Ecuador. Bioject’s distributor in Ecuador, FlashMed Inc. acted as the agent for the application based on documentation provided by Bioject.
"This is the first step to providing Bioject’s needle-free technology to clinicians and patients in Ecuador and we very much appreciate the work of FlashMed in achieving this approval.” said Tony K. Chow President and CEO of Bioject. “We’re looking forward to supporting FlashMed in their efforts and the prospects for new sales in the region.”
Beginning in 2013 Bioject has expanded its distribution network into Asia, Australia, the Philippines, the Middle East, and Africa. So far, registration approvals have been received in nine countries.
I just try to do thorough DD and generally refrain from speaking with company officers in case I hear something that's non-public. But, I do know someone that has a connection to one of the institutional investors (if they haven't bailed) and will pass it along.
looks like time to get a new mouse.
I consider myself a real "outsider" here, thats all. Thought maybe you had a direct line. If not, maybe they will see the post. Thats all.
That was literal. I don't work for BJCT.
Funny how that sounded. But I understand she is. (both of them)
My CEO? OK, I'll let the wife know, but name not familiar.
Sorry for double post - mouse must be on drugs.
I just heard from a colleague that the CEO of RXSF has been trying to reach your CEO. Please pass this information along as I have. Her name is Lorraine Yarde.
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Bioject Medical Technologies Inc.
Bioject Medical Technologies Inc. (OTCBB: BJCT) is an emerging drug delivery company developing the world's leading technology for needle-free injection of liquid medications.
Bioject's technology works by forcing liquid medication at high speed through a tiny orifice held against the skin. This creates an ultra-fine stream of fluid that penetrates the skin, delivering medication in a fraction of a second. Bioject's systems are designed to deliver injected medications comfortably, accurately, and quickly - without the use of a needle. Bioject was founded in 1985 to develop needle-free injection systems to improve the comfort and safety of routine injections. Since then, Bioject has developed a broad technology platform for delivering many different types of medications and vaccines to the subcutaneous and intramuscular depths. The company is currently developing systems and is in clinical trials for intradermal injections.
Bioject has developed a portfolio of injection systems based on its core technology. These include durable devices designed for heavy use in a professional healthcare environment, and small, lightweight injectors designed for home use. With partners, Bioject is also developing an inexpensive, pre-filled, disposable injection systems. Bioject's strategy is to form strategic partnerships with leading pharmaceutical, biotechnology, and animal health companies. The company seeks to develop mutually beneficial agreements with these partners to develop customized injection systems to enhance the delivery of the partner's injected medication or vaccine. Bioject has alliances with leading pharmaceutical, biotechnology, and animal health companies.
Bioject Medical Technologies Inc.
20245 SW 95th Avenue
Tualatin, OR 97062
Phone: 503-692-8001
Fax: 503-692-6698
E-mail: investorrelations@bioject.com
Web: www.bioject.com
Bioject Medical Technologies Inc.is a fully reporting OTCBB stock: www.otcmarkets.com/pink/quote/quote.jsp
The company has recently confirmed that the share structure from the latest 10Q (3rd Quarter 2009) is still accurate: www.otcmarkets.com/edgar/GetFilingPdf
A/S: 100,000,000
O/S: 17,679,111 (confirmed by T/A on 4th March 2010)
Float: 13,800,000
The company has stated that at the current time they do not have any plans to dilute, as they recently closed a financing agreement with their largest shareholder. In the event they do need to dilute they would do it as a private placement which is usually done in the form of restricted shares that can not convert to common for 6 months, so we do not need to worry about dilution.
Transfer Agent
American Stock Transfer & Trust Company, LLC
59 Maiden Lane
Plaza Level
New York, NY 1003
Tel: (800) 937-5449 or (718) 921-8124
Web: www.amstock.com
Estimated Market Cap: $3,345,872 as of Mar 2, 2010
The Form 8K filed with the SEC for the company's financial year ending December 31st 2009 can be viewed here: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7133612
.
April 7th 2010: Bioject announces that it has met the final milestone under its Development Agreement with Merial Limited ("Merial") by delivering devices with auto-disable nozzles to Merial for its next generation spring-powered companion animal vaccination device. Bioject's President and Chief Executive Officer, Ralph Makar said "Merial has been an excellent partner and we appreciate the confidence Merial has in our needle-free technology. We are pleased to have completed this final milestone and look forward to using our new platform technology in its first commercial application". Full press release www.businesswire.com/portal/site/home/permalink/
March 17th 2010: Bioject published 4th Quarter and End of Year 2009 financials showing that the operating loss and net loss allocatable to common shareholders has decreased by 65% over the previous financial year. Bioject's President and Chief Executive Officer, Ralph Makar said "Recent positive events, such as the announcement of our strategic alliance with MPI Research, the elimination of our existing debt and the additional cash infusion, are encouraging as we strive for a better future and to increase shareholder value". Full press release http://www.marketwatch.com/story/bioject-reports-december-31-2009-results-2010-03-17?reflink=MW_news_stmp
February 22nd 2010: Bioject announced in a PR approval from the Swedish Medical Products Agency to conduct a phase I clinical trial evaluating an HIV/DNA vaccine in collaboration with the Karolinska Institutet (KI) and the Swedish Institute for Infectious Disease Control (SMI) to be delivered to healthy volunteers by ZetaJet® Full press release www.businesswire.com/portal/site/home/permalink/
February 16th 2010: Bioject announced in a PR full USDA license approval for Oncept canine melanoma vaccine, to be administered via a Canine Transdermal Device, which delivers the vaccine without the use of a needle. The device was developed in conjunction with Bioject, Inc. Full press release www.prnewswire.com/news-releases/merial-receives-full-license-approval-for-oncepttm-canine-melanoma-vaccine-84464667.html
January 5th 2010: Bioject announced that it has established a strategic alliance with MPI Research, a leading pre-clinical research organization with experience in the development of injectable therapeutics, which allows Bioject to gain access to a range of capabilities and resources needed for the company to explore drug+device opportunities, including access to pharmacologic, analytical, safety and other preclinical testing resources available at MPI Research. Full press release www.businesswire.com/portal/site/home/permalink/
December 21st 2009: Bioject announced it completed a Series G Preferred Stock financing with each of Life Sciences Opportunities Fund II, L.P., Life Sciences Opportunities Fund (Institutional) II, L.P. (collectively, the “LOF”), and Edward Flynn for the purchase of an aggregate of 92,448 shares of its Series G Convertible Preferred Stock at a price of $13.00 per share. Gross proceeds from the sale were $1,201,834, payable by payment of $500,000 in cash and the cancellation of the $600,000 outstanding principal amount of and $101,834 accrued interest. Full press release www.businesswire.com/portal/site/home/permalink/
April 6th 2009: Bioject announced that the U.S. Food and Drug Administration (FDA) has granted market clearance for the Zetajet™ Needle-Free Injection Therapy System. Bioject’s new ZetajetTM system is the latest advance in needle-free delivery systems, offering a significant array of unique product features and patient benefits that can provide highly competitive differentiation to a wide variety of injectables market segments. Full press release www.businesswire.com/portal/site/google/
************************************************************************************************************************************************************************************
Results from a sequential phase I and II, controlled, double-blinded study to determine whether immune responses suggesting protection against influenza can safely be induced in young children. The study commenced in October 2006 and was completed in November 2009, with study completion date set for May 2010. Good results from this study could be amazing for BJCT investors.
Clinical trials information www.clinicaltrials.gov/ct2/show/NCT00386542
Bioject's needle-free injection technology works by forcing liquid medication at high speed through a tiny orifice that is held against the skin. The diameter of the orifice is smaller than the diameter of a human hair. This creates an ultra-fine stream of high-pressure fluid that penetrates the skin without using a needle.
Bioject's technology is unique because it delivers injections to a number of injection depths and supports a wide range of injection volumes. For instance, the Biojector 2000 can deliver intramuscular or subcutaneous injections up to 1 mL in volume. In addition, Bioject is developing a syringe for the Biojector 2000 that delivers intradermal injections that is currently in clinical trials.
Intradermal* injections are very shallow injections that deposit the medication between the layers of the skin. Many new DNA-based vaccines are delivered to the intradermal layer.
Subcutaneous injections are delivered to the adipose (fat) layer just below the skin. Many therapeutic proteins are delivered to the subcutaneous depth, such as human growth hormone.
Intramuscular injections are the deepest injection type, delivering the medication into the muscle tissue. Most vaccines are currently delivered to the intramuscular depth.
The Bioject research and development team has developed a new spring-powered injector known as the ZetajetTM, which is based on the design of the Biojector® 2000 (B2000) for performance but uses a spring for its power source. The pressure profile of the Zetajet has been documented by in vitro testing to be virtually the same as that of the B2000, which has given millions of injections. The B2000 is a needle-free jet injection device that provides up-to-date jet injection technology and eliminates or reduces complications associated with others previous devices (eg, cross-contamination from patient to patient, lacerations at the injection site, difficult device cleaning, cumbersome tanks, etc).1-12 The intended use of this device is to provide a low-cost, needle-free injection system that delivers SC, IM, or ID injections via a simple change of the syringe. There is no need to adjust the device or technique for different injection types. This new needle-free system offers an additional feature - an auto-disable syringe that prevents re-use of the syringe. The syringe may be used to perform reconstitution with manual movement of the syringe plunger; however, once the injection is given, the syringe is disabled with the plunger tip remaining in the syringe to prevent any possible re-use.
A study comparing the use of Zetajet was conducted at a clinical centre in 2009. After meeting all eligibility criteria, a total of 60 healthy subjects were enrolled in this study and were given three injections. After each injection, a subjective evaluation was made related to the injection site, and questions were asked regarding the patients’ perceptions of the injection. Immediately after each injection, the injection sites were evaluated by a trained healthcare professional and within 5 minutes after the injections, the degree of pain with each injection was elicited from the subjects. The injection sites were also evaluated immediately following for local reactions (bruising, redness, and wheal formation). The follow-up was completed 24 hours after the initial injection and consisted of injection site evaluations.
The study reconfirmed the capability of a spring-powered device to successfully provide three types of injection (SC, ID, IM) that was originally proven using the Vitavax, a precursor device that led to the development of the Zetajet. The device was well received by the clinical investigators and clinicians who used the device during the study. Comments received throughout the trial regarding the ease of winding, loading, and administering the injection by the clinical investigators was very positive. On the assessments by injection type, all three injection methods with Zetajet received very positive ratings with more than 96% overall receiving Extremely Favorable and Favorable ratings.
In conclusion, the results of this clinical trial indicate that the Zetajet needle-free injection system is preferred compared to a traditional needle and syringe system. It also demonstrated the subjective injection effectiveness of the Zetajet jet injection system for SC, ID, and IM injections.With these unique advances in delivery technology, the Zetajet is anticipated to provide the optimal injection therapy system for both developed and developing countries to provide a safer and more effective method for delivering their parenteral injectables.
The full study report can be downloaded here http://www.bioject.com/pdf/Zetajet%20DDT%20Article%20February%202009%20Low%20Res.pdf
The Biojector® 2000 is a durable, professional-grade injection system designed for healthcare providers. The Biojector® 2000 is the only needle-free system in the world cleared by the FDA to deliver intramuscular injections. The system can also deliver subcutaneous injections, and is being used for intradermal injections in clinical trials.
Cool.clickTM is a needle-free injection system designed for delivery of Saizen® recombinant human growth hormone. Serono, the manufacturer of Saizen, is the first company to offer a needle-free delivery system for human growth hormone injection that is cleared by the FDA.
SeroJetTM needle-free injection system designed for delivery of Serostim, Serono’s high-dose recombinant human growth hormone formulation that is the leading treatment for AIDS wasting. Serostim has been the most extensively tested in AIDS wasting and the only biotechnology-derived drug approved for AIDS wasting by the FDA in the USA, which has granted Serostim orphan drug status, and marketing exclusivity, in the United States until August 2003.
The Vial Adapter Drug Reconstitution Adapter Kit includes a blunt plastic device that replaces a fill needle for accessing medication vials, making syringe filling completely needle-free. The Vial adapter is designed to fit all standard syringes and all standard 13mm vials. The system is a convenient method for the withdrawal of medication and the transfer of diluents for reconstitution without the use of a needle.
The Bioject® needle-free drug reconstitution vial adapter is a non-sharp plastic device that replaces a fill needle for accessing medication vials making syringe filling completely needle-free. The vial adapter is designed to fit all standard syringes and fits on a drug vial with a 13 mm neck. The system is a convenient method for the withdrawal of medication and the transfer of diluents for reconstitution without the use of a needle.
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