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Thanks Obi :))))) This one worked out fine.... :))))
Have a wonderful day :)
Encorium Group, Inc. Announces One-for-Eight Reverse Stock Split
Date : 02/16/2010 @ 4:45PM
Source : PR Newswire
Stock : Encorium Grp. (MM) (ENCO)
http://ih.advfn.com/p.php?pid=nmona&cb=1266382372&article=41579362&symbol=N^ENCO
BERWYN, Pa., Feb. 16 /PRNewswire-FirstCall/ --
Encorium Group, Inc. (NASDAQ:ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it had filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to affect a reverse split of the Company's common stock in the ratio of one-for-eight. The reverse stock split will be effective on February 16, 2010 at 5:00 p.m. EST. The Company's common stock will begin trading on the NASDAQ Capital Market at the market opening on February 17, 2010 on a split-adjusted basis. To denote the reverse stock split the Company's common stock will trade under the stock symbol "ENCOD" for a period of 20 trading days. After 20 trading days the Company's common stock will resume trading under the symbol "ENCO".
On January 8, 2010 the Company's stockholders approved an amendment to its Certificate of Incorporation, as amended, to affect a reverse stock split of shares of the Company's common stock issued and outstanding at a ratio to be established by our Board of Directors in its discretion of up to one for 10 (but not less than one for three). The Board of Directors approved a one-for-eight split.
The reverse stock split is intended to enable the per share trading price of the Company's common stock to satisfy the minimum bid price requirement for continued listing set forth in NASDAQ Marketplace Rule 5550(a)(1). As previously announced, the Company received notice from The NASDAQ Stock Market on September 15, 2009, stating that the minimum bid price of the Company's common stock was below $1.00 per share for thirty consecutive business days and that it was therefore not in compliance with Marketplace Rule 5550(a)(1). The notification letter gave Encorium until March 15, 2010 to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of Encorium's common stock must meet or exceed $1.00 per share for at least ten consecutive business days prior to March 15, 2010.
As a result of the reverse stock split, Encorium stockholders will receive one new share of the Company's common stock for every eight shares held. All fractional shares which would otherwise result from the reverse stock split will be rounded up to the nearest whole share in lieu of fractional shares, so that no cash will be payable. Registered holders of the Company's common stock holding stock certificates will receive a letter of transmittal from the Company's transfer agent, American Stock Transfer & Trust Company, with instructions for the exchange of stock certificates. No action is required by stockholders holding the Company's common stock in book-entry form.
Reducing the number of outstanding shares of the Company's common stock through the reverse stock split is intended, absent other factors, to increase the per share market price of its common stock. Our Board of Directors believes that increasing the per share trading price of our common stock will help ensure the price is increased above, and remains above, the $1.00 bid price required by the NASDAQ listing standard. However, other factors, such as our financial results, market conditions and the market perception of our business may adversely affect the market price of our common stock. As a result, there can be no assurance that the reverse stock split will result in the intended benefits described above, that the market price of our common stock will increase following the reverse stock split, or that the market price of our common stock will not decrease in the future. In addition, there can be no assurance that the Company will otherwise be able to comply with other applicable listing requirements in order to maintain its listing on the NASDAQ Capital Market. As previously disclosed, on August 25, 2009, Encorium received a letter from The NASDAQ Stock Market notifying the Company that, based on its Form 10-Q for the period ended June 30, 2009, NASDAQ had determined that the Company's stockholders' equity does not comply with the minimum $2.5 million stockholders' equity requirement for continued listing on The NASDAQ Capital Market as required by NASDAQ Marketplace Rule 5550(b)(1). On October 19, 2009 the Company received a letter from NASDAQ extending to December 8, 2009 the time to regain compliance with Rule 5550(b). NASDAQ has informed that Company that, if at the time of its next periodic report for the year ending December 31, 2009 the Company does not evidence compliance, the Company may be subject to delisting. Based on the Company's preliminary results for the period ending December 31, 2009 the minimum stockholders' equity will not be met as of that date. If a delisting action is brought against the Company based on the failure to satisfy the stockholders' equity requirement, the Company may request a hearing before the NASDAQ Listing Qualifications Panel. Such request would stay any delisting determination by the NASDAQ Listing Qualifications Staff and the Company's common stock would remain listed on NASDAQ pending a formal determination by the Panel. However, there can be no assurances that the Panel will grant such request.
About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process.
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to: (i) the risk that we may not have sufficient funds to operate our business; (ii) our success in attracting new business and retaining existing clients and projects; (iii) the size, duration and timing of clinical trials we are currently managing may change unexpectedly; (iv) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues and cash-on-hand to decline unexpectedly; (v) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (vi) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vii) the ability to maintain profit margins in a competitive marketplace; (viii) our ability to attract and retain qualified personnel; (ix) the sensitivity of our business to general economic conditions; (x) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (xi) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xii) our backlog may not be indicative of future results and may not generate the revenues expected; and (xiii) uncertainties regarding the availability of additional capital; and (xiv) uncertainties regarding continued listing of our common stock on NASDAQ. You should not place undue reliance on any forward-looking statement. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events. Please refer to the section entitled "Risk Factors" in the Company Annual Report on Form 10-K for the year ended December 31, 2008 and the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2009 for a more complete discussion of factors which could cause our actual results and financial position to change.
http://www.encorium.com/
DATASOURCE: Encorium Group, Inc.
CONTACT: Philip L. Calamia, Chief Financial Officer, Encorium Group,
Inc., +1-610-989-4208
Web Site: http://www.encorium.com/
This can't hurt the vaccine clinical trials business:
http://www.nytimes.com/2010/01/30/world/30vaccine.html
It's a possibility that they are going to run this to $1 before the end of March to avoid delisting.
Amended Statement of Changes in Beneficial Ownership (4/A)
Date : 01/28/2010 @ 1:51PM
Source : Edgar (US Regulatory)
Stock : (ENCO)
http://ih.advfn.com/p.php?pid=nmona&cb=1264705616&article=41302147&symbol=N^ENCO
Encorium Re-Appoints Dr. Kai Lindevall as Chief Executive Officer and Appoints Current Director ...
Date : 01/14/2010 @ 8:30AM
Source : PR Newswire
Stock : Encorium Grp. (MM) (ENCO)
http://ih.advfn.com/p.php?pid=nmona&article=41106911&symbol=ENCO
Announces Results of Stockholder Voting at its Annual Meeting of Stockholders held on January 8, 2010
BERWYN, Pa., Jan. 14 /PRNewswire-FirstCall/ --
Encorium Group, Inc. (NASDAQ:ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it has re-appointed Dr. Kai Lindevall as Chief Executive Officer. In addition, the Board of Directors has appointed Shahab Fatheazam, a current director of the Company, as Chairman of the Board of Directors
Dr. Lindevall had previously served as Executive Chairman and President of Europe and Asia from July 2009 until present, Chief Executive Officer of the Company from February 2008 until September 2008 and as President, Europe and Asian Operations from November 2006 until February 2008
Mr. Fatheazam most recently served as Managing Director and head of the U.S. healthcare practice of GCA Savvian, a leading international investment banking advisory firm. Mr. Fatheazam joined GCA Savvian in 2004 from Vector Securities, a premier healthcare specialty firm, where he was a partner. Prior to helping to form Vector Securities, he was co-head of Paine Webber's Lifescience Division. He began his career on Wall Street with Kidder, Peabody & Co, where, in 1980, he became a partner and senior executive in Kidder's international corporate finance unit. Mr. Fatheazam holds a BA and MA from Cambridge University in England and an MBA from Columbia University. Mr. Fatheazam sits on the boards of two biotechnology companies and is a Trustee at Chicago University's Harris School. He is a member of the Economics Club in Chicago
On the appointment of Mr. Fatheazam, Dr. Kai Lindevall commented, "Since his appointment to the Board of Directors in November 2008, Mr. Fatheazam has significantly contributed to the Board and the execution of the Company's business and management. He has a long and successful career in the health care and public company environment and the Board is extremely pleased to have his leadership in building stockholder value."
Mr. Fatheazam stated, "The ever changing world of pharmaceutical testing of future therapeutics and the means of delivering them, make the CRO industry very dynamic and interesting. Encorium has an international experience which plays very well with the needs of the pharmaceutical and biotech industries. It is my goal to always improve and keep apace of the requirements necessary to be an effective player in the field."
The Company also announced today the results of stockholder voting at its Annual Meeting of Stockholders held on January 8, 2010. The Company reported that approximately 70% percent of the outstanding shares were represented either in person or by proxy at the meeting
Encorium stockholders voted to elect all five nominees to the Board of Directors, namely, Shahab Fatheazam, Sari Laitinen, Dr. Kai Lindevall, Petri Manninen, and David Morra to serve until the next annual meeting or until their successors are elected; ratified the appointment of Asher & Company, Ltd. as the Company's independent registered public accountants for the fiscal year ending December 31, 2009; and approved the issuance of 874,126 shares of its common stock issuable under warrant exchange agreements with two private investors, as well as any additional shares underlying the exchange warrants that may be issuable as a result of the anti-dilution provisions set forth in such instruments
In addition, Encorium stockholders approved an amendment to its Certificate of Incorporation, as amended, to affect a reverse stock split of shares of the Company's common stock issued and outstanding at a ratio to be established by our Board of Directors in its discretion of up to one for 10 (but not less than one for three). If the reverse split is affected by our Board of Directors, we can not assure you that that we will be able to comply with the other requirements for continued listing on NASDAQ in order to maintain our listing on the NASDAQ Capital Market. As previously disclosed, on August 25, 2009, the Company received a letter from The NASDAQ Stock Market notifying the Company that, based on its Form 10-Q for the period ended June 30, 2009, NASDAQ had determined that the Company's stockholders' equity does not comply with the minimum $2.5 million stockholders' equity requirement for continued listing on The NASDAQ Capital Market as required by NASDAQ Marketplace Rule 5550(b)(1). On October 19, 2009 the Company received a letter from NASDAQ extending to December 8, 2009 the time to regain compliance with Rule 5550(b). NASDAQ will continue to monitor the Company's ongoing compliance with the stockholder's equity requirement and has informed that Company that, if at the time of its next periodic report for the year ending December 31, 2009 the Company does not evidence compliance, the Company may be subject to delisting. Based on the Company's preliminary results for the period ending December 31, 2009 the Company does not believe it will satisfy this requirement. If the Company does not, the Company may request a hearing before the NASDAQ Listing Qualifications Panel. Such request would stay any delisting determination by the NASDAQ Listing Qualifications Staff and the Company's common stock would remain listed on NASDAQ pending a formal determination by the Panel
About Encorium Group, Inc
Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to: (i) the risk that we may not have sufficient funds to operate our business; (ii) our success in attracting new business and retaining existing clients and projects; (iii) the size, duration and timing of clinical trials we are currently managing may change unexpectedly; (iv) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues and cash-on-hand to decline unexpectedly; (v) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (vi) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vii) the ability to maintain profit margins in a competitive marketplace; (viii) our ability to attract and retain qualified personnel; (ix) the sensitivity of our business to general economic conditions; (x) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (xi) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xii) our backlog may not be indicative of future results and may not generate the revenues expected; and (xiii) uncertainties regarding the availability of additional capital; and (xiv) uncertainties regarding continued listing of our common stock on NASDAQ. You should not place undue reliance on any forward-looking statement. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events. Please refer to the section entitled "Risk Factors" in the Company Annual Report on Form 10-K for the year ended December 31, 2008 and the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2009 for a more complete discussion of factors which could cause our actual results and financial position to change.
DATASOURCE: Encorium Group, Inc
CONTACT: Phil Calamia, +1-484-686-4759, for Encorium Group, Inc
yes sir!!!!!
tomorrow should be interessting if this stays up this leg can go high :).
ENCO - VERY NICE CLOSE !!
Gonna continue this sweet run tomorrow
ENCO - Nice consolidation here after lunch rush, EOD should be fun !
ENCO getting some love here today
lol god i hope so
So this is good news right?
Entry into a Material Definitive Agreement
23-Dec-2009
http://biz.yahoo.com/e/091223/enco8-k.html
On December 16, 2009 Encorium Oy, Encorium Group, Inc.'s (the "Company") wholly-owned Finnish subsidiary, entered into a three year term loan facility in the amount of EURO 700,000 (the "Loan Facility") with Finnvera plc, a specialized financing company owned by the Finnish state ("Finnvera").
Interest on the Loan Facility is equal to the 6-month Euribor, plus 2.35%. Interest and principal payments are payable every six months over the term of the Loan Facility with the first payment due on June 16, 2010. On December 17, 2009, Encorium Oy drew down the entire principal of the Loan Facility. Proceeds from the Loan Facility will be used for general working capital.
As collateral for the Loan Facility, Encorium Oy pledged assets subject to two new business mortgages having an aggregate value of EURO 200,000. Assets subject to a business mortgage dated February 16, 2005, which were previously pledged to Svenska Handelsbanken AB and having a value of EURO 100,000, were transferred to Finnvera. In addition, as collateral for the Loan Facility Ilari Koskelo, a current substantial stockholder in the Company, pledged personal property and Dr. Kai Lindevall, President of Europe and Asia, gave a personal guarantee of EURO 30,000. Dr. Kai Lindevall also executed a personal guarantee of EURO 100,000 to Svenska Handelsbanken AB as replacement collateral for the assets subject to the business mortgage that was transferred to Finnvera. Subject to approval of the Board of Directors of Encorium Group, Inc., it is anticipated that Mr. Koskelo and Dr. Lindevall will receive stock of Encorium Group, Inc. as consideration of their personal guarantees.
Under the Loan Facility, if Encorium Oy fails to pay off the loan, a loan installment, interest or charges on the due date, it will be required to pay annual penal interest on the overdue amount from the due date to the date of payment. The penal interest rate is equal to six percentage points above the reference rate on the loan, but in no event less than 16%.
The Loan Facility will become immediately due and payable if:
-Encorium Oy has failed to pay a due installment, interest or other remittance; -Encorium Oy, in applying for the Loan Facility, provided materially incorrect information or concealed matters that would have substantially influenced the granting of the loan;
-Encorium Oy has used the funds from the Loan Facility for a purpose other than was agreed;
-The borrower has prevented Finnvera from carrying out certain inspections described in the loan documentation;
-Assets acquired with the loan or assets subject to corporate mortgage given to Finnvera as collateral are assigned other than in a manner provided for in section 9, paragraph 1 of the Company Mortgage Act, or are leased out; -Encorium Oy's business operations have materially decreased or ceased at the location financed or circumstances have otherwise changed to such a degree that the loan no longer fulfills the purpose for which it was granted; -Encorium Oy, a guarantor, or a pledger has died or been declared bankrupt, or debt restructuring concerning them has begun, or assets put up as collateral have been sold in distraint proceedings; -A shareholder is selling his shares in a company, a partner is selling his shares in a partnership, or a sole proprietorship is closed down; -Finnvera considers with justifiable cause that repayment in accordance with the loan agreement is at risk.
ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh! i hate this bag
good volume today! maybe something brewing here..
i hope so.. i didn't think this thing would drop below .40 because of that big insider purchase. guess i was really wrong
I think this drops to about .20. Then I would load up IMO. Eventually it has to go North.
is there light at the end of this tunnel ? :(
Encorium Group, Inc. Appoints Sari Laitinen to Board of Directors
Date : 11/13/2009 @ 4:05PM
Source : PR Newswire
http://ih.advfn.com/p.php?pid=nmona&article=40358971&symbol=ENCO
BERWYN, Pa., Nov. 13 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (NASDAQ:ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it has appointed Sari Laitinen to its Board of Directors effective November 7, 2009. Ms. Laitinen, age 43, will replace Jyrki Mattila who has rendered his resignation from the Company's Board of Directors, effective immediately. Ms. Laitinen will serve as the Chair of the Nominating Committee and as a member of the Audit and Executive Compensation Committees. With the appointment of Ms. Laitinen, Encorium's Board of Directors will remain at five members and will consist of a majority of independent directors.
Ms. Laitinen is the founder and owner of Sari Laitinen, US Legal Counsel, a US legal services firm established in 2006 in Espoo, Finland. Prior to 2006, Ms. Laitinen served as Director, US Capital Markets, with Ernst & Young Oy based in Helsinki, Finland. From 1999 until 2004 Ms. Laitinen was an attorney at the Corporate Finance and Securities Practice Group of Robins, Kaplan, Miller & Ciresi L.L.P. where she was elected partner in 2002. Ms. Laitinen was also previously an attorney with Lindquist & Vennum LLP in Minneapolis, MN and King & Spalding in Atlanta, GA. Ms. Laitinen serves on the Board of Directors of Oy Free Drop Innovations Ltd, a privately owned golf technology company in Espoo, Finland. Ms. Laitinen received her B.A. and Juris Doctor degrees from the Hamline University, St. Paul, MN and is licensed to practice law in two US states. She has also written a book on legal risk management in the US.
"We are very pleased to be able to add someone of Ms. Laitinen's caliber to our Board of Directors," commented Dr. Kai Lindevall, executive chairman. "Her significant legal and capital markets expertise both in the US and in Finland will be very beneficial to Encorium and we look forward to benefitting from her strategic counsel."
Dr. Lindevall added, "I would also like to thank Jyrki Matilla for his years of service to Encorium."
About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process.
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to: (i) the risk that we may not have sufficient funds to operate our business; (ii) our success in attracting new business and retaining existing clients and projects; (iii) the size, duration and timing of clinical trials we are currently managing may change unexpectedly; (iv) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues and cash-on-hand to decline unexpectedly; (v) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (vi) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vii) the ability to maintain profit margins in a competitive marketplace; (viii) our ability to attract and retain qualified personnel; (ix) the sensitivity of our business to general economic conditions; (x) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (xi) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xii) our backlog may not be indicative of future results and may not generate the revenues expected; and (xiii) uncertainties regarding the availability of additional capital and continued listing of our common stock on Nasdaq. You should not place undue reliance on any forward-looking statement. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events. Please refer to the section entitled "Risk Factors" in the Company Annual Report on Form 10-K for the year ended December 31, 2008 and the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2009 for a more complete discussion of factors which could cause our actual results and financial position to change.
DATASOURCE: Encorium Group, Inc.
CONTACT: Philip L. Calamia, Chief Financial Officer, Encorium Group,
Inc., +1-610-989-4208
Web Site: http://www.encorium.com/
Well it closed below the 50dma, but still at the .40 which seems to be holding, any close below that we have a gap down to .30 they say no news is good news, but we need some good news
More buyers than sellers......sell orders keeping the price down maybe? 100 shares at a time.... give me a break ! Put this back over .52 mm's !!!
Youve only had 4 posts in a month and your not very positive....LOL !! Relax... You show up every 30 days to yell POS !!!! LOL !!! Give it time..... This is a fairly sound bet.... I think it just has to move when it moves.... GL
Stuck in the .45 range again. This stock sucks! Period!
Yes I see looking back at the posts...... Sounds good to me.... searching around..... others saying 2$ ps is the short term target..... Hmmmmmmmm Take care Obi !!! I'm sure I'll run into you on another board !!! LOL !!!
GM stevenck, the low float caught my eye here.
I'm glad you put this on the bucket-list Obi... Thanks for the tip ! I'm in so lets see where it goes.... How did you find this on a scan????
CRO Market to Exceed $26.2 Billion by 2012 9-Oct-09 01:33 pm Encorium in the top 8?
Contract Research Outsourcing Market to Exceed $26.2 Billion by 2012, According to a New Report by Global Industry Analysts, Inc.
Press Release Attachment
Contract Research Outsourcing (CRO), which came into being in the seventies, evolved into an essential component of pharmaceutical market scenario. Demand for CRO services is forecast to increase with mounting pressure on pharma and biotech companies to lower costs and augment productivity. World market for Contract Research Outsourcing is projected to exceed $26.2 billion by the year 2012.
San Jose, California (PRWEB), October 22, 2008 -- Contract Research Outsourcing (CRO) has emerged as a topic of great interest in the global pharmaceutical and biotechnology markets. Patent expiries, heightened competition in generic drug space, and dwindling drug discoveries necessitate research and development (R&D), innovation, and marketing of new pharma and biotech products to combat price fixing and cost escalations. Smaller product life spans, worldwide regulatory challenges, and the increasingly slim deadlines for clinical development magnify in-house R&D expenditure and affect productivity. The concept of CRO emerged as a means to control in-house R&D costs, expand capacities, and improve core skills. Contract research organizations now offer a whole array of expert services ranging from pharmacology, pre-clinical safety evaluation, clinical trial management, study design, statistical analysis, regulatory services, and data collection to product support. Over the past 15 years, CRO services expanded to encompass all aspects of the drug development process. Outsourcing of contract research is now close to 50% vis-à-vis 5% of early1990s.
Global Contract Research Outsourcing (CRO) market (http://www.strategyr.com/Contract_Resear... revenues totaled an estimated US$15.9 billion in 2007. Revenues in the US, the largest market, are projected to exceed US$10 billion in 2011. Europe is poised to post the fastest annual growth rate in terms of revenues over the years 2000 through 2010, at a CAGR of 17.21%, driven mainly by favorable growth in Eastern European nations. Clinical Research (http://www.strategyr.com/Contract_Resear... is the largest service segment in the worldwide CRO market with revenues estimated at US$11.7 billion in 2008, while CRO market for drug discovery (http://www.strategyr.com/Contract_Resear... is poised to grow at a CAGR of 11.24% over the years 2000 through 2010. Though US and Europe top the global CRO market with an estimated share of 48% and 29% respectively, investment is increasingly favoring emerging markets in Central and Eastern Europe, Asia-Pacific, and Latin America. These markets offer the potential to conduct world-class R&D spearheaded with cost advantages.
CRO industry is highly fragmented with over 1100 players. Inevitably, competition is intense among companies to differentiate and capture the attention of a sponsor. Top eight companies account for a sizable share of market revenues. Select players operating in the industry include Criterium Inc., Covance Inc., Encorium Group Inc, ICON PLC, Kendle, MDS Inc, Pharmaceutical Product Development Inc, Parexel, PharmaNet, PRA International, Quintiles, Bio Analytical Research Corporation, Calvert Laboratories Inc., CentraLabS Clinical Research, Charles River Laboratories Inc., Huntingdon Life Sciences Research Inc., nTouch Research Corporation, PharmaTrials Inc., Radiant Research Inc, and Research Solutions LLC, among others.
Web Site http://www.strategyr.com
###
http://medical.presslib.com/pharmaceutic...
Dr. Nohynek was a speaker for Encorium at the WORLD VACCINE CONGRESS 2009 this month:
Congress Day 3: Thursday 8 October 2009 STREAM 1
How outsourcing can enhance and speed up development towards licensure of vaccines
Dr Hanna Nohynek, Senior Vaccine Consultant,
Encorium
http://www.terrapinn.com/2009/wvcl/progr...
At this point in the game, it speaks wonders! Big contracts, Dr Hanna Nohynek added to the team, investment money coming in....Good to go!
So......The form 4 looks like we're not the only ones that want this stock correct???? :) Thanks Obi !
Form 4 filed:
http://www.pinksheets.com/edgar/GetFilin...
common stock 10/19/2009 P 3937500 A $.40 3937500
Form 4 filed:
http://www.pinksheets.com/edgar/GetFilin...
common stock 10/19/2009 P 3937500 A $.40 3937500
I'm thinking that they have a good source of business from these guys: (speculation)
Very very interesting:
Current studies:
http://www.uta.fi/rokotetutkimuskeskus/s...
Notice that the H1N1 Started in September (Same time that the contract big contract was announced. (Notice locations?):
Immunogenicity and safety of multiple formulations of an intramuscular inactivated, split virion swine-origin A/H1N1 influenza vaccine with and without adjuvant in healthy European subjects aged 6 to 35 months.
Study clinics: Tampere, Turku, Pori, Espoo, Lahti, Vantaa East, Vantaa West, Oulu, Helsinki South, Helsinki East, Järvenpää, Kotka, Seinäjoki, Kuopio, Kokkola
Starting date in September 2009
Sanofi Pasteur GPF09
EudraCT: 2009-013858-32
Encorium listed as a :
Co-operation / CRO:s
http://www.uta.fi/rokotetutkimuskeskus/e...
•Encorium
•ICON
•Medikalla
•Parexel
•PPD
•PRA
•Quintiles
•Smerud Medical Research
•Trial Form Support (TFS)
Notice that Encorium was hiring Experienced CLINICAL RESEARCH ASSOCIATES for a large multicentre study in Finland
The location can be in Espoo or Turku.
Hello !!!! WTF !!! This is way undervalued isnt it ????
Just a few highlights....then I'll just sit back and wait...
BERWYN, Pa., Oct. 19 /PRNewswire-FirstCall/ -- Encorium Group, Inc. ENCO, a full-service multinational contract research organization (CRO) that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical companies, today announced that it has completed a private placement of 3,937,500 shares of its common stock with a private investor for an aggregate purchase price of $1,575,000, or $.40 per share.
The Company also announced that it has terminated previously announced negotiations for the sale of the Company's wholly-owned subsidiary Encorium OY to a clinical research organization based in the United States and will not pursue a sale of the Company or Encorium OY at this time. Given the Company's recent successes with respect to its strategy to grow into the world's leading vaccine franchise, including the recently announced $8.7 million of new business contract wins and the selection by a major pharmaceutical company for participation in a swine flu vaccine program, together with the investment announced today, the Company believes it is well positioned to win future contracts in the vaccine and oncology fields. As a result, the Company believes stockholder value will be maximized by moving ahead independently, while continuing to focus on clinical vaccine development.
Dr. Kai Lindevall, executive chairman stated, “We are very pleased that we were able to close this financing to shore up our balance sheet and provide the Company with additional working capital. Our experience and capabilities in the vaccine field coupled with the recent new awards in this area demonstrate the long term potential we have to grow into a leading vaccine franchise with expertise in pre-clinical support, regulatory consultancy and strategic trial planning. We believe these developments will position us to move ahead independently and are in the best interest of all stockholders.”
Encorium today announced the signing of approximately $8.7 million of new business contracts, including selection by a major pharmaceutical company for participation in a swine flu vaccine program.
"Dr. Kai Lindevall, executive chairman stated, “We are delighted to be able to announce these new business awards, despite a very challenging market environment. Our experience and capabilities in the vaccine field have been of paramount importance in our success. We are very proud of being the selected partner for one of the frontline clinical development programs for the swine flu vaccine. In addition, we were also recently entrusted with a avian flue vaccine, as well as other vaccine development programs having, in the aggregate, approximately 12,000 patient subjects. We believe our participation in these studies exemplifies the level of trust and respect that large vaccine companies have in our vaccine expertise and clinical operations."
“We believe Encorium has developed into one of the strongest medium sized clinical research organizations with expertise in the field of clinical vaccine development. Our recent success in the vaccine field has been substantial, with revenues from vaccine trials increasing by 150% in 2009 versus 2008. As an acknowledgement of our achievements, in April 2009, Encorium was nominated as a finalist for the Second Annual Vaccine Industry Excellence Award."
I have been waiting. I hope you are right.
Just wait....It going to move up.... I'm in ......The price down is a joke..... IMO they cant keep this down.... Good luck !
Encorium Group, Inc. Completes $1.6 Million Private Placement of Common Stock and Executes Warrant Exchange Agreement
Date : 10/19/2009 @ 8:30AM
Source : PR Newswire
http://ih.advfn.com/p.php?pid=nmona&cb=1255962611&article=39951827&symbol=N^ENCO
Encorium to Report Third Quarter 2009 Financial Results on November 16 and Hold Conference Call on November 17, 2009
BERWYN, Pa., Oct. 19 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (NASDAQ:ENCO), a full-service multinational contract research organization (CRO) that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical companies, today announced that it has completed a private placement of 3,937,500 shares of its common stock with a private investor for an aggregate purchase price of $1,575,000, or $.40 per share.
Prior to the transaction, the Company has entered into Warrant Exchange Agreements with two investors (the "Investors") pursuant to which the Company issued to the Investors an aggregate of 1,864,000 shares of Common Stock (collectively, the "Exchange Shares") and warrants to purchase an aggregate of 874,126 shares of Common Stock, exercisable for a period of five years, at an exercise price of $.40 per share (collectively, the "Exchange Warrants"). The Exchange Shares and Exchange Warrants were issued in exchange for warrants dated as of May 9, 2007 held by the Investors to purchase an aggregate of 874,126 shares of Common Stock of the Company (collectively, the "Original Warrants").
The Company also announced that it has terminated previously announced negotiations for the sale of the Company's wholly-owned subsidiary Encorium OY to a clinical research organization based in the United States and will not pursue a sale of the Company or Encorium OY at this time. Given the Company's recent successes with respect to its strategy to grow into the world's leading vaccine franchise, including the recently announced $8.7 million of new business contract wins and the selection by a major pharmaceutical company for participation in a swine flu vaccine program, together with the investment announced today, the Company believes it is well positioned to win future contracts in the vaccine and oncology fields. As a result, the Company believes stockholder value will be maximized by moving ahead independently, while continuing to focus on clinical vaccine development.
Dr. Kai Lindevall, executive chairman stated, "We are very pleased that we were able to close this financing to shore up our balance sheet and provide the Company with additional working capital. Our experience and capabilities in the vaccine field coupled with the recent new awards in this area demonstrate the long term potential we have to grow into a leading vaccine franchise with expertise in pre-clinical support, regulatory consultancy and strategic trial planning. We believe these developments will position us to move ahead independently and are in the best interest of all stockholders."
Of the 35,000,000 authorized capital stock of the Company, 26,325,383 shares of common stock will be issued and outstanding immediately following the closing.
The shares of common stock issued in connection with the above transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. The Exchange Shares will be immediately freely transferable pursuant to Rule 144 of the Act since the Investors are not affiliates of the Company and since the Investors will be deemed to have held the Exchange Shares for greater than 6 months pursuant to (d)(3)(ii) of Rule 144. For additional information on the transactions described below, please see our Current Report on Form 8-K filed with the SEC on October 19, 2009, which is available on the SEC website at http://www.sec.gov/
Quarterly Results and Conference Call
Financial results for the third quarter ended September 30, 2009 are scheduled for Monday, November 16, 2009, after the market closes. Encorium will hold a conference call at 11:00 a.m. EST Tuesday, November 17, 2009, to discuss its financial results and corporate developments. Additional details will be forthcoming.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process.
This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to: (i) the risk that we may not have sufficient funds to operate our business; (ii) our success in attracting new business and retaining existing clients and projects; (iii) the size, duration and timing of clinical trials we are currently managing may change unexpectedly; (iv) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues and cash-on-hand to decline unexpectedly; (v) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (vi) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vii) the ability to maintain profit margins in a competitive marketplace; (viii) our ability to attract and retain qualified personnel; (ix) the sensitivity of our business to general economic conditions; (x) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (xi) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xii) our backlog may not be indicative of future results and may not generate the revenues expected; and (xiii) uncertainties regarding the availability of additional capital and continued listing of our common stock on Nasdaq. You should not place undue reliance on any forward-looking statement. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events. Please refer to the section entitled "Risk Factors" in the Company Annual Report on Form 10-K for the year ended December 31, 2008 and the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2009 for a more complete discussion of factors which could cause our actual results and financial position to change.
http://www.encorium.com/
DATASOURCE: Encorium Group, Inc.
CONTACT: Philip L. Calamia, Chief Financial Officer, Encorium Group,
Inc., +1-610-989-4208
Web Site: http://www.encorium.com/
Someone sure does..
Funny to see the PPS take a hit right after I made a post here....kind of makes you wonder who's watching these boards......
Sure is hmm lol..
It's possible klce. Any thoughts on how this traded 40m shares above .60 a few weeks back when the float is so small? Now trading under .50?? Very interesting.......
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Encorium Group, Inc. designs and manages clinical trials for pharmaceutical, biotechnology, and medical device industries primarily in Europe.
The company's clinical research and development services supporting Phase I through Phase IV clinical trials include data management, such as CRF review and tracking, data entry, clinical/statistical reports, and writing manuscripts for publication; and biostatistics for the use of professionals to develop and review protocols, design analysis plans, and report formats in various phases of drug development.
Its services also include strategic trial planning; project management; medical writing; quality assurance and compliance, such as investigator audits, pre-submission protocol compliance audits, and GCP audits; outsourcing clinical staff; and clinical trials management comprising case report form design, investigator recruitment, patient enrollment, and study monitoring and data collection.
In addition, Encorium's services include study protocol design; medical and regulatory affairs, such as regulatory strategy formulation, new drug and biologic license application document preparation and review, and quality assurance and liaison; pharmacovigilance; compliance and medical report writing; patient registries; and medical device certification.
It also licenses Oracle Clinical and Datafax as its clinical trials management systems.
Encorium offers clinical trial services in various therapeutic areas, such as cardiovascular, nephrology, endocrinology/metabolism, hematology, diabetes, neurology, oncology, immunology, vaccines, infectious diseases, gastroenterology, dermatology, hepatology, rheumatology, urology, ophthalmology, women's health, and respiratory medicine.
It was formerly known as Covalent Group, Inc. and changed its name to Encorium Group, Inc. in October 2006 in connection with the acquisition of Remedium Oy. The company was founded in 1989 and is headquartered in Wayne, Pennsylvania.
610-989-4208
(Registrant’s telephone number, including area code)
One Glenhardie Corporate Center, 1275 Drummers Lane,
Suite 300, Wayne, Pennsylvania
Headlines I
14-Jan-10 08:30AM Encorium Re-Appoints Dr. Kai Lindevall as Chief Executive Officer and Appoints Current Director, Shahab Fatheazam, Chairman of the Board
16-Feb-10 04:45PM Encorium Group, Inc. Announces One-for-Eight Reverse Stock Split
Do your own DD & trade smart
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