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There should be be new launch for Pyratine-6 in the third quarter with a huge advertising campaign including print and tv.
The CEO should be removed for making the deal with Triax. His whole history is one of making poorly thought out deals.
Senetek Announces Plan for Promotion, Sales and Distribution of Pyratine-6(TM)
Tuesday July 1, 9:30 am ET
NAPA, California, July 1 /PRNewswire/ -- Senetek PLC (OTC Bulletin Board: SNKTY - News), a Life Sciences company engaged in the development of technologies that target the science of healthy aging, today announced that effective with the termination of its marketing agreement with Triax Aesthetics LLC for Pyratine-6(TM), all promotion, sales and distribution of Pyratine-6(TM) would be controlled and managed directly by the Company.
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Phil Rose, Senetek's Chief Operating Officer stated, "We are building an infrastructure that has the expertise to establish Pyratine-6(TM) as the leading anti-aging product in the physician channel. The clinical data supporting Pyratine-6(TM) provides a clear and differential advantage over the competition. We are moving forward quickly and strategically without any looking back. We have the foundation and experience for success."
Bill O'Kelly, Senetek's Chief Financial Officer stated, "We are finalizing the operating and financial plan associated with the Company's promotion, sales and distribution of Pyratine-6(TM) and we will communicate appropriate aspects of the plan to our shareholders when the process is completed."
Senetek PLC Resolves Dispute With Marketer of Pyratine-6(TM) on Most Favorable Terms
Monday June 30, 9:30 am ET
NAPA, California, June 30 /PRNewswire/ -- Senetek PLC (OTC Bulletin Board: SNKTY - News), a Life Sciences company engaged in the development of technologies that target the science of healthy aging, today announced it has reached an agreement to terminate its marketing agreement with Triax Aesthetics LLC ("Triax") for Pyratine-6(TM) on most favorable terms. These terms include the return of US$1,125,000 in cash from Triax and a service provider, return of all intellectual property, product inventory and promotional materials, access and ownership of all accounts opened, remittance of all proceeds of product sales through the agreement termination date, rights to use the Triax Aesthetics name for one year in conjunction with sales of existing packaged product inventory and a non-competition agreement from Triax and certain related parties prohibiting them from selling any topical non monograph products used for antiaging purpose and/or in connection with acne rosacea for a period of two years.
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A spokesperson for Triax Aesthetics commented, "We sincerely believe that Pyratine-6(TM) is a product with significant advances over the competition in the marketplace. We agreed with Senetek that there are better candidates for the distribution of this product. We will do everything possible to help make Pyratine-6(TM) a continued success."
About Senetek PLC
Senetek PLC (OTCBB: SNKTY - News) is a Life Sciences company engaged in the development of breakthrough technologies that target the science of healthy aging. The Company's extensive research collaborations have resulted in a strong pipeline of patented compounds and products with broad therapeutic applications and a leading presence in dermatology. Senetek collaborates with established specialty pharmaceutical companies in the final development and marketing of its proprietary products, most recently resulting in the development of the best-selling anti-aging product sold in the North American physician market. For more information, visit the company's website at http://www.senetekplc.com.
Buyback soon. Senetek will use some of their millions to buyback shares. This should raise the price to get on the AMEX. Very bullish measures which will triple the stock price.
11/16/2007 2:28:00 PM SNTKY ($0.32) <Senetek > by canuck272 Rating 5 (7 users)
Description:
At $0.33,
SNTKY is currently trading at its net cash value and is on the
verge of bringing to market a stream of products that have the potential to drive
the value of the company to a multiple of the current price. The company
is a player in the cosmeceutical skincare/anti-aging market, and has already had
one successful product, which it recently monetized. It has signed a very
favorable marketing agreement with a reputable partner to launch the next product
early in 2008. Behind that, it has several other products in various
stages of development.
The company’s annual cash burn rate is around
$2mm; however, that does not take into account $6.5mm of guaranteed net cash
payments the company will receive next year from a recent marketing partnership.
Thus, Senetek trades at a 20% discount to its projected net cash position at the
end of 2008. We believe Senetek’s current trading price is a result of its tiny
market cap, lack of coverage, and an unsophisticated investor base that is either not
focused on or does not appreciate the recent developments and
prospects.
About the Company
Senetek is primarily a cosmeceutical product development
company in the skincare/anti-aging category. Cosmeceuticals are
cosmetic products that are sold at retail or by physicians and that make certain claims
about effectiveness without rising to the level of requiring FDA approval.
The company was started in 1983, and existed for many years as a penny stock
(listed in the
UK, with ADR’s) without meaningful revenues. In 1999,
the company licensed a product called Kinetin to Valeant Pharmaceuticals (VRX), and
Kinetic became a key ingredient in a Valeant cosmeceutical product called
Kinerase. Over time, Kinerase became one of the most successful cosmeceutical
products in the market, registering sales of $30 million in 2006, from which Senetek
earned a royalty of $6 million. Earlier this year, Senetek monetized its
right to future royalties in exchange for a lump-sum payment of $21 million from
Valeant.
Over time, Senetek has assembled a portfolio
of products and intellectual property, partly through its R&D partnerships with the
Polish
Academy of Science and
the Institute of
Advanced Botany
in the Czech
Republic (I admit
these sound like organizations out of a Mel Brooks movie). The company
has signed a very favorable marketing agreement with a reputable partner, Triax
Pharmaceuticals, for the first product, due to launch in early 2008, and expects to
launch at least one product annually after that.
Investors should be aware that the company is planning on
a 8 for 1 reverse stock split in December.About the
industry
The worldwide market for facial skin care products is
estimated at $20 billion. The physician-dispensed channel is a tiny part
of that, estimated at $250 million in the
US, but is growing at an estimated
20% annually. The leading company in the space is Obagi (OMPI). Key
drivers of the growth are:
· Currently, less
than half of the 22,000 physicians specializing in dermatology and plastic surgery in
the
U.S. are selling cosmeceuticals. Both the penetration level of dispensing
physicians and the average level of sales per physician have been growing, as an
increasing number of physicians view this as a significant source of additional income.
Also, dermatologists have a tendency to use multiple tools when treating an aliment,
so cosmeceutical products are often used along with other
treatments.
·
Patient demand has been on the rise, as aging baby boomers want
to continue looking like children of the 60’s. The strong growth of
non-surgical cosmetic procedures such as Botox are evidence of the same trends.
Skincare pipeline
Senetek’s skincare products differentiate themselves from
many of its competitors through good product efficacy and solid clinical
data. While we believe the company has a number of promising products in its
pipeline, the main driver of performance over the next year or two will be Pyrapine-6,
which is scheduled to hit the market in early 2008.
Clinical trials have demonstrated P-6 to be a
substantially and quantifiably superior compound relative to Kinetin with respect to its
anti-aging properties. In fact, management claims that they chose to monetize
Kinetin because they preferred to bet on P-6, and saw a great opportunity to sell a
product that was past its peak. The company recently signed a
marketing collaboration agreement for P-6 with Triax, a private equity backed company led by
two seasoned pharmaceutical/cosmeceutical executives. Triax has $200
million of private equity backing, and the PE firm and Triax’s top executives check
out very well. We consider this to be a very positive development, and
we believe the fact that Senetek was able to negotiate such terms is a strong
endorsement of P-6 by a smart industry player. The key terms are as
follows:
·
SNTKY is guaranteed a minimum
of $10.8mm in payments in 2008 regardless of actual product sales, in exchange for a
marketing contribution by
SNTKY totaling $4.5mm within one year. (We believe this part of the
agreement was structured to allow
SNTKY to recognize a smooth picture of revenues over FY2008; however,
the spirit of this agreement essentially that Triax is paying
SNTKY a $6.5mm net initial
payment.)
· Subsequent to year
one, the companies will share product revenues 50/50, with Triax responsible for
sales, marketing, and order fulfillment and
SNTKY responsible for the cost of product manufacturing.
·
Triax is obligated to hire no less than 20 experienced sales
force professionals in year one for the marketing of this product.
Most of the risk in taking a new product to market lies
in the front-end loaded marketing costs. On the other hand, according to
management, product and packaging costs for these products are in the range of 10%
of sales (or 20% of
SNTKY’s share of sales) and will be a completely variable cost since
SNTKY will use a contract manufacturer.
As a result, there is little risk to the company’s cash position should
P-6 fail to meet expectations.
In addition to extensive discussions with
Senetek management about P-6, we have also talked to Triax top management. Data on P-6
from a clinical trial at UC-Irvine’s Department of Dermatology shows high efficacy in
several anti-aging metrics, dealing with reduction of wrinkles, fine lines, redness
(in contrast to other existing products that tend to cause redness and irritation),
and skin discoloration. Dermatologists we have spoken to says that if the clinical
data holds up, P-6 has the potential to be a leading cosmeceutical product.
Triax has cited a $100mm sales target for P-6, which is
typically a year 4 or 5 number. While this appears to be a fairly ambitious target in
light of Kinerase’s $30mm of sales and industry leader Obagi’s $90mm of sales, it
is not inconceivable given the product’s apparent efficacy and the strong overall
industry growth.What is very clear is that Triax is making a
substantial investment in the product and is anticipating significant levels of product sales
in order to generate a reasonable return on their investment. ($6.5mm of year one
net guaranteed payments plus what we estimate will be a $10 million investment in
sales and marketing investment). We estimate that in order to achieve a 20% IRR on the
partnership, P-6 will have to generate revenues of $25mm in year 6. At
that level of sales, and using the same 20% discount rate, we estimate that the NPV
to Senetek would be $19mm, or $0.32/share. Clearly, there is a huge
discrepancy between the value Triax is placing on P-6, and the how the market is
valuing it through Senetek – essentially worthless.
It is important to note that the Triax agreement pertains
to distribution in the physician-dispensed channel only; management is in
negotiations with a major cosmetics company for a retail product that will be marketed under
a different name and emphasize different features to avoid cannibalization.
After P-6, Senetek has another product,
4H-BAP, which has shown some
different anti-ageing properties than P-6. Assuming that the P-6 launch
is successful, the company expects to be in a position to sign up a marketing
partner towards the end of 2008, for an early 2009 launch. If the
relationship is going well, Triax would be the obvious
partner.
Invicorp
Outside of its skincare business, the most significant
product is Invicorp, an erectile dysfunction treatment with an injection-based method
of delivery (yes, a self-administered needle). It addresses the
estimated 30-50% of the potential ED patient population is either non-responsive to or
contra-indicted (as a result of taking certain cardiac medications) from using the
existing oral treatments. We note that the company considers its core
competency to be in skincare and might monetize its right to future Invicorp royalties if
the opportunity arises.
Invicorp is licensed to Plethora
(
PLE-AIM) in the
US and Ardana in
Europe.
SNTKY will receive a double digit royalty and can potentially earn
large milestone payments. The distribution partners are responsible for all product
approvals, marketing, and manufacturing. Invicorp was approved in
Demark on December 2006, with other European approvals expected in 2008.
US approval and product launch are expected in late 2009 or
2010.
The only existing non-oral ED treatment of significance
is a product called Caverject, with $60mm in worldwide sales and growing. Caverject
is also an injection based system and is marketed by Pfizer. Ardana is targeting
$30mm of product sales in Europe, while
Plethora is targeting over $200mm of sales in the
U.S. for
Invicorp.
We have met with Plethora management, who are very
optimistic about Invicore’s prospects based on the targeted marketing strategy they intend
to pursue, and their belief that Invicore is a superior product to Caverject.
Plethora is an early stage company targeting the urology space, and has
several products in their pipeline. We have not done a lot of work on the
Invicore/Caverject comparison, but note that Plethora’s market cap on the
AIM is less than $60 million, so
the market is not giving them much
credit.
Valuation
As Senetek’s financial commitments relating to P-6
consist of entirely variable manufacturing costs, there will be no material erosion of the
company’s cash position if P-6 flops. The same is true for Invicorp.
As a result, if we attribute no value to the company other than its cash
position, the current price is a 20% discount to the expected cash position by the
end of 2008 after factoring minimum royalties and expected cash burn.
Currently, the company is running at an operating expense level of $4 million
annually, but that is partly offset by interest income and some small income items on other
products, for a net cash burn of slightly more than $2 million annually.
If fact, assuming nothing happens over the next three years - but also assuming
that management does nothing beyond the current expense level to squander its cash
position - the company is trading at its projected year end 2010 cash
balance.
There are different ways of looking at upside.
With a 1-3 year time horizon, any upside will likely be driven by P-6, and if
that is successfully launched in 2008, it will likely be followed by 4H in 2009.
Assuming no significant increase in corporate overhead, and no other
products, Senetek’s approximate overall pre-tax profit at different levels of P-6 sales are
as follows:
Senetek
Est.
P-6 Sales Pre-Tax
Income
$10 mm $2
mm
20
6
30
10
50
18
100
38
Obviously, it is hard to know what level of sales P-6
will reach, and over what time period. A best case scenario might be a
successful launch in 2008, leading to a marketing deal on 4H, and projections a year
from now of P-6 reaching $20-30 million of 2009 sales, plus 4H beginning to
contribute. At that point, with Senetek looking like a successful cosmeceutical
company with a strong pipeline of products, it could be given a market cap of
$100-200 million, or $1.60-$3.20 per
share.
Recent Guidance
Management recently released projections for 2008 and
2009, which they claim represent a conservative outlook. P-6 is the main driver, and we
estimate that it accounts for 85% of 2009 projected revenues. Most of
the remaining revenues are projected to come from the sale of a P-6 derived product
in prestige channel (higher end retail establishments) through a partnership with a
major cosmetics company. However, management anticipates that the terms
of that revenue sharing agreement will result in a fairly low gross profit margin.
Thus, most of the projected $5mm in operating income comes from the Triax
agreement.
2008 2009 Revenue 13,397 21,891 Gross Profit 10,492 12,872 EBITDA 2,262 5,645 Operating Income 1,634 5,017
Why is it
cheap?
Besides the obvious reason of being a penny
stock trading over the counter,
SNTKY is cheap for the following
reasons:
1. Management
has been overly optimistic in the past and has low credibility.
2. Except for
Valeant, previous marketing partnerships have not contributed meaningfully to
profitability.
Minimal IR effort.
4. Cash burn in
the past two quarters has been unusually high due mainly to a $1.6 million tax
payment on the monetization of Kinetic in Q2, and the first installment of the marketing
contribution to Triax for P-6. Cash willcontinue to fall
through 2008 and should bottom at around $15 million, or $0.25 per share, as Senetek
will not receive the guaranteed royalty payments from Triax until late
2008.
Risks
- P-6 is not successful, which throws the
entire strategy of positioning the company into a cosmeceutical business into
doubt
- Management does something stupid with their
cash hoard and destroys value
- Something “bad” happens – always a risk with
a penny stock
Catalyst:
* Successful launch (anticipated to occur on 2/2008) and market acceptance of P-6.
* Announcement of other distribution partners expected by the end of this year or
early next year one of which could be a “big household
name.”
* Potential monetization of future Invicorp royalties.
New website up. Impressive pipeline.
http://www.senetekplc.com/
Pyratine-6 website is up. Start sales February 1.
http://www.pyratine-6.com
Beyond Kinerase - Pyratine Makes its Debut
by Dr. Hema Sundaram
Thursday, January 17, 2008
EXPERT Dr. Hema Sundaram
Cosmetic Dermatologist
Health Professional
Recent Posts:
Can Revance - or Reloxin - Revamp the...
Cosmetic Surgery: Not A Source For Shame
Related: Acne, Aging Skin, Wrinkles, Age Spots, More >
Back in the day when Brad Pitt and Jennifer Aniston were husband and wife, they - and various other celebrities - swore by Kinerase cream to keep their skins dewy. I've recommended Kinerase to my patients for many years, and in magazine articles such as this one in Good Housekeeping[1]. Its active ingredient, Kinetin, is a cytokinin - a plant-derived growth factor that ties in well with my philosophy of holistic skin care. Studies have shown that Kinetin increases the lifespan of cultured skin cells and that it is an antioxidant capable of destroying free radicals - the harmful chemicals that are implicated in some cancers and thought to be the cause of premature aging.
How this test-tube research translates to real-life skin care remains a matter of debate. But now Pitt, Aniston, and anyone else who wants to get - and keep - that youthful glow, may want to take a look at Pyratine-6, a new skin rejuvenator that was just introduced last fall. It's a second generation cytokinin developed by Senetek, the same company that developed Kinetin. Like Kinetin, it's plant-derived, and it has some interesting science to back it up [2].
The results after 8 weeks of treatment with Pyratine-6 or with Kinetin were examined in separate studies conducted respectively at the University of California, Irvine and at a laboratory in Texas. It's important to note that these are independent studies of Pyratine-6 and Kinetin, each conducted at a single study center. A head-to-head study conducted at several study centers would provide a more direct and extensive comparison of the two cytokinins. Nonetheless, the data are thought-provoking.
There was 22% improvement in fine wrinkles with Pyratine-6, versus 2% improvement with Kinetin; an 86% improvement in skin roughness with Pyratine-6 versus 35% improvement with Kinetin; and an overall improvement in perceived aging of 24% with Pyratine-6 versus 3% with Kinetin. An additional 12 week study of Pyratine-6 also showed significant improvement in skin moisture content, reduction in skin redness and a 45% reduction in acne lesions.
Based on these results, a further study has been performed to evaluate the effectiveness of Pyratine-6 for acne and rosacea; the data from this study is pending. New Jersey-based Triax Pharmaceuticals, which already produces a couple of prescription acne therapy systems (Tretin-X and Minocin PAC), will be distributing Pyratine-6 to dermatologists' and cosmetic surgeons' offices under the aegis of its new Triax Aesthetics division.
I've been using Pyratine-6 myself now for a little over a month and I'm pleased with the results. My skin feels softer and smoother, several patients have commented on my lustrous skin, and I've had no skin irritation. Kinerase didn't irritate my skin either, and it used to be a mainstay of my own skin care regime because many other skin products do. However, Kinerase seemed to give me occasional acne breakouts and I had to give my skin a respite from it every month or so. For this reason, I'm especially intrigued by the reported anti-acne effects of Pyratine-6. I'm interested to see how Pyratine-6 performs with my patients, many of whom suffer from rosacea or adult acne and would appreciate a dual-purpose therapy that treats these conditions while it rejuvenates their skins. I'm also recommending Pyratine-6 to patients who have fractional laser resurfacing, chemical peels, microdermabrasion and other skin rejuvenation procedures in my office.
http://www.healthcentral.com/skin-care/c/75934/19299/makes-debut
Senetek PLC Announces Voting Results From Its Annual General Meeting
Monday December 10, 4:00 pm ET
NAPA, Calif., Dec. 10 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY - News), a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics, today announced that shareholders had approved all seven resolutions that the Company had proposed at the Annual General Meeting of Shareholders held on December 10, 2007.
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"We are pleased with the results of the voting and we thank our shareholders for their support," stated Frank J. Massino, Senetek CEO. "The Board and management of Senetek are looking forward to 2008, as we move ahead with several exciting business opportunities in the coming year."
About Senetek PLC
Senetek PLC (OTCBB: SNTKY - News) is a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics. Senetek recently announced a Marketing Collaboration Agreement for its second-generation cytokinin with Triax Aesthetics LLC which will guarantee a minimum of $10.8 million in revenues in 2008 and granted Valeant Pharmaceuticals a paid up license for Senetek's first generation patented skin care active ingredient Kinetin and its analog Zeatin in return for $21 million cash and forgiveness of $6 million prepaid royalty credit, and is negotiating third party license agreements for new patent-pending second generation dermatological active ingredients and is completing development of a number of additional compounds. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for Invicorp®, has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject®.
For more information, visit the company's website at http://www.senetekplc.com.
SNTKY - TA annotated in chart
36 Mo., Weekly Chart - RSI remains in strong BULLISH range; prior price retracement corresponding to RSI with recent bounce > 50. Overall - Extremely bullish outlook
Happy trading!
David
November 13, 2007 - 4:45 PM EST
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Senetek PLC Announces Status of Annual General Meeting and Status of Voting on Shareholder Resolutions
NAPA, Calif., Nov. 13 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY), a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics, today announced that the Annual General Meeting of Senetek PLC, scheduled for 10:00 a.m. November 12, 2007 at Baker & MacKenzie, London, United Kingdom was adjourned as a result of a lack of a quorum and has been rescheduled to 7:00 a.m. Pacific Time on Monday, December 10, 2007 at the principal executive offices of Senetek PLC, 831A Latour Court, Napa California. The Extraordinary General Meeting of the Company also previously scheduled for November 12, 2007 has also been rescheduled for Monday, December 10, 2007, immediately following the Annual General Meeting.
As of November 12, proxies representing approximately 99.4% of the Company's voting have been received by the Company. The following table summarizes the voting results to date for each resolution to be considered at the rescheduled Annual General Meeting. Please note that proxy voting instructions may be withdrawn or changed prior to the rescheduled Annual General Meeting and, as result, the following information may not be indicative of the actual final vote tallies that will be reported following the conclusion of the rescheduled Annual General Meeting:
FOR AGAINST ABSTAIN
1. To re-elect Anthony
Williams as a Director. 57,515,302 2,645,884 435,187
2. To increase the maximum
number of shares available
under the Senetek Equity
Plan from 5,000,000 to
7,500,000. 36,074,655 23,306,860 1,214,858
3. To consolidate the
Ordinary shares, nominal
value 5p, into Ordinary
shares nominal value 40p. 56,986,565 3,550,543 59,265
4. To receive the Company's
annual accounts for the
financial year ended
December 31, 2006 together
with the last Director's
report and auditors' report
on those accounts, and to
approve the last Directors'
remuneration report. 57,930,294 1,671,136 994,943
5. To appoint Macias Gini &
O'Connell LLP and BDO Stoy
Hayward as the Company's
independent auditors for
the financial year ending
December 31, 2007 at
remuneration to be
determined by the Directors. 58,878,873 1,431,843 285,657
6. To generally and
unconditionally authorize
the Directors, for the
purposes of Section 80 of the
Company Act 1985 (the
'Companies Act') to exercise
all the powers of the Company
to allot relevant securities
(as defined in Section 80 (2)
of the Companies Act) up to an
aggregate nominal amount of
40,000,000 pounds Sterling,
provided that this authority
shall expire on the date five
years from the date on which
this resolution is passed,
except that the Company may,
before the expiry of such period
and the Directors may allot
relevant securities in pursuance
of any such offer or agreement
as if the authority conferred
hereby had not expired, this
authority to replace any
existing like authority which
is hereby revoked with
immediate effect. 55,215,669 3,645,276 1,735,428
7. To empower the Directors,
pursuant to Section 95 of
the Companies Act to allot
equity securities (as defined
in Section 94 of the
Companies Act) pursuant to the
authority conferred upon them
by the above resolution (as
varied by the Company from time
to time in general meeting) as
if Section 89 (1) of the Act
did not apply to such allotment,
provided that the power hereby
conferred shall operate in
substitution for and to the
exclusion of any previous
power given to the Directors
pursuant to Section 95 of the
Companies Act and shall expire
on the date five years from the
date on which this Resolution
is passed unless renewed or
extended prior to such time,
except that the Company may,
before the expiry of any
power contained in this
Resolution, make an offer or
agreement which would, or might,
require equity securities to be
allotted after such expiry and
the Directors may allot equity
securities in pursuance of
such offer or agreement as if
the power hereby had
not expired. 45,553,769 10,487,398 4,555,206
Senetek PLC To Present at The Rodman and Renshaw 9th Annual Healthcare Conference
Thursday November 1, 9:30 am ET
NAPA, Calif., Nov. 1 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY - News), a specialty life sciences company engaged in the study of senescense, the science of aging with an initial focus on skincare and dermatological therapeutics, today announced that Mr. Frank J. Massino, Chairman and Chief Executive Officer of Senetek PLC, Professor Brian Clark, Chief Scientific Officer and Mr. William O'Kelly, Chief Financial Officer, will present a company update at the Rodman and Renshaw 9th Annual Healthcare Conference in New York City on Tuesday, November 6, 2007 at 4:45 pm ET.
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A live audio webcast of the presentation will be accessible through the Rodman and Renshaw website, http://www.rodmanandrenshaw.com/conferences?id=6&link=confwebcasters. The presentation slides will be available on the Senetek website http://www.senetekplc.com immediately following the webcast.
Reverse split being proposed is 8 for 1. That will give us a float of 7625000 and will bring the price to $2.80. After that, next year, we should be able to get on the AMEX and they can buyback a few shares, too.
Reverse splits are only troublesome for companies that are losing money. Senetek is guaranted to be profitable in 2008 with minimums in place.
Senetek PLC Reports Second Quarter 2007 Financial Results
Investor Conference Call Scheduled for August 17
NAPA, Calif., Aug. 13 /PRNewswire-FirstCall/-- Senetek PLC (OTC Bulletin Board: SNTKY), a specialty dermatology and skin care company targeting the science of aging, today announced financial results for the quarter ended June 30, 2007:
Revenues for the second quarter 2007 were $471,000 compared to $2,005,000 for the same period in the prior year. The decline is attributed to the grant of a paid up license to Valeant Pharmaceuticals Inc. in the first quarter of 2007 which resulted in no Kinetin and Zeatin royalty revenues in the second quarter of 2007. Revenues for the six months ended June 30, 2007 were $25,779,000 compared to $4,274,000 for the same period in 2006. Revenues for the first half of 2007 included $24,750,000 recognized in conjunction with the previously announced grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc.
The Company realized a net loss of $397,000 (a loss of $0.01 per share) in the second quarter of 2007 compared to net income of $551,000 ($0.01 per share) in the second quarter of 2006. Net income for the six months ended June 30, 2007 totaled $21,336,000 ($0.35 per share) compared to net income of $538,000 ($0.01 per share) for the first six months of 2006. Net income for the six months ended June 30, 2007 included the effect of the previously announced grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc. and $1,320,000 from settlement of claims against a professional services provider for past performance related matters. The net income for the six months ended June 30, 2006 included a $927,000 non-cash expense for the write-off of the debt discount on retirement of the Senior Secured Notes and a $250,000 gain on the sale of Reliaject(R) assets.
In other developments during the quarter and through the date of this release:
-- The Company announced a Marketing Collaboration Agreement for its
second-generation cytokinin with Triax Aesthetics LLC, a Cranford, New
Jersey based company focused on quality of life for patients with
dermatologic conditions.
-- Under the terms of the Agreement, Senetek has granted Triax an
exclusive license in the ethical market channel in the United States
and its territories, Canada and select Middle East countries. All
product packaging will be labeled Senetek/Triax.
-- Senetek will be responsible for production and supply of products, will
contribute periodic sales and marketing payments totaling $4.5 million
in the first year of the Agreement and will participate in the product
marketing strategy. In return, Senetek will receive all net product
revenues in the first year of the Agreement, with a guaranteed minimum
of $10.8 million in 2008. The Agreement calls for increased minimum
sales annually after the first year. Subsequent to the first year of
the Agreement, the companies will share net revenues on a 50/50 basis.
Triax will be responsible for all sales, marketing and order
fulfillment during the life of the Agreement.
-- Significant advancement was made towards the successful bulk synthesis
of compound AK801 with finalization expected in September of this year.
-- The Company initiated safety testing of compound PA100 and expects
results in the fourth quarter of this year.
'Senetek financial results for the second quarter of 2007 were in line with the expectations set when we announced the Valeant paid up license transaction earlier this year,' said Frank J. Massino, Senetek's Chairman and CEO. 'We continue to be in the strongest financial condition that we have enjoyed in many years with $22 million of cash on hand at the end of the second quarter. Our recently announced marketing collaboration with Triax Aesthetics LLC and our advancements on new compounds are significant milestones in our strategy. Our marketing collaboration with Triax is the beginning of a new and superior business model which will increase revenues and create brand recognition for Senetek'.
Senetek will conduct a teleconference call for investors on Friday, August 17, 2007 at 9:00 a.m. Pacific, 12:00 p.m. Eastern. The domestic dial-in number is 877-593-8638; the international dial-in number is 706-634-9240, conference ID 13177281. Mr. Frank J. Massino, Chairman & CEO and Mr. William F. O'Kelly, Chief Financial Officer, will discuss Company operations. Replay of the conference call will be available until August 24, 2007. Domestic Replay dial-in 800-642-1687, International Replay dial-in 706-645-9291, replay conference ID 13177281.
Senetek Announces Marketing Collaboration for New Generation Cytokinin With Triax Aesthetics LLC
Senetek Guaranteed $10.8 Million Minimum in First Year
Product to be Packaged Under a Senetek PLC/Triax Label
Senetek to Contribute $4.5 Million to First Year Sales and Marketing Budget
NAPA, Calif., Aug. 6 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY), www.senetekplc.com , a specialty dermatology and skin care company targeting the science of aging, today announced a Marketing Collaboration Agreement for its second-generation cytokinin with Triax Aesthetics LLC, a Cranford, New Jersey based company focused on quality of life for patients with dermatologic conditions.
Under the terms of the Agreement, Senetek has granted Triax an exclusive license in the ethical market channel in the United States and its territories, Canada and select Middle East countries. All product packaging will be labeled Senetek/Triax.
Senetek will be responsible for production and supply of products, will contribute periodic sales and marketing payments totaling $4.5 million in the first year of the Agreement and will participate in the product marketing strategy. In return, Senetek will receive all net product revenues in the first year of the Agreement, with a guaranteed minimum of $10.8 million in 2008. The Agreement calls for increased minimum sales annually after the first year. Subsequent to the first year of the Agreement, the companies will share net revenues on a 50/50 basis. Triax will be responsible for all sales, marketing and order fulfillment during the life of the Agreement.
Triax Aesthetics is a specialty dermatology company managed by Joseph J. Krivulka and Leonard L. Mazur. Mr. Krivulka and Mr. Mazur have extensive experience in specialty dermatology including high level positions at Lederle Laboratories, Sandoz Pharmaceuticals, Mylan Laboratories, Cooper Laboratories, ICN Pharmaceuticals and Knoll Pharmaceutical Company. In addition, Mr. Krivulka was a founder of Bertek Pharmaceuticals and co-founder of Reliant Pharmaceuticals and Triax Pharmaceuticals LLC. Mr. Mazur was a founding executive of Medicis Pharmaceuticals and founder of Genesis Pharmaceutical.
Frank J. Massino, Chairman and Chief Executive Officer of Senetek PLC, stated, 'We are most pleased with forming a marketing collaboration with Triax and its highly respected management team. In addition, by having the Senetek name on the packaging, the Company will be afforded greater visibility in both the dermatological and financial markets. This transaction is the beginning of a new and superior business model which will increase revenues and create brand recognition for Senetek.'
Joseph J. Krivulka and Leonard L. Mazur of Triax Aesthetics LLC, commented, 'We are extremely pleased to join forces with Senetek, a pioneer in research and product development in the worldwide anti aging market. Our objective is to be the market leader in the double-digit annual growth anti aging skin care market and to achieve more than $100 million in annual sales.'
About Senetek PLC
Senetek PLC (OTC Bulletin Board: SNTKY) is a specialty dermatology and skincare company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Senetek recently granted Valeant Pharmaceuticals a paid up license for Senetek's first generation patented skin care active ingredient Kinetin and its analog Zeatin in return for $21 million cash and forgiveness of $6 million prepaid royalty credit, and is negotiating third party license agreements for new patent-pending second generation dermatological active ingredients and is completing development of a number of additional compounds. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for Invicorp(R), has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject(R).
For more information, visit the company's website at http://www.senetekplc.com.
This news release contains statements that may be considered 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act, including those that might imply FDA approval and commercial potential for Invicorp. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company's Annual Report on Form 10-K/A for the
Transcript of the recent cc. Looks like Senetek is to be transformed with a new name and a focus on dermatology products.
http://www.sec.gov/Archives/edgar/data/789944/000119312507149877/dex101.htm
Senetek PLC First Quarter 2007 Revenue and Net Income Increase Sharply on Grant of Paid Up License
Monday May 21, 4:00 pm ET
Company Has $24 Million in Cash on Hand
NAPA, Calif., May 21 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY - News), a life sciences product development company targeting the science of aging, announced financial results for the quarter ended March 31, 2007:
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Revenue for the quarter ended March 31, 2007 was $25,308,000, compared with $2,269,000 reported in the first quarter of 2006. Revenues for the first quarter of 2007 included $24,750,000 recognized in conjunction with the previously announced grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc.
Net income for the quarter ended March 31, 2007 totaled $21,733,000 or $0.36 per share compared to a net loss of $13,000, a loss of less than $0.01 per share in the first quarter of 2006. Net income for the quarter ended March 31, 2007 included the effect of the previously announced grant of a paid up license for Kinetin and Zeatin to Valeant Pharmaceuticals Inc. and $1,312,000 from settlement of claims against a professional services provider for past performance related matters. The net loss for the quarter ended March 31, 2006 included a $927,000 non-cash expense for the write-off of the debt discount on retirement of the Senior Secured Notes and a $250,000 gain on the sale of Reliaject® assets.
Cash flow from operations for the quarter ended March 31, 2007 was $22,855,000 compared with $2,000 used in first quarter 2006 operations.
"Senetek is in the strongest financial condition that we have enjoyed in many years," said Frank J. Massino, Senetek's Chairman and CEO. "Our recently announced agreement with Valeant is the first step in a new strategic direction that will enable accelerated development of our rich pipeline of proprietary compounds, an ability to acquire products, emphasis on larger economic benefits through direct marketing efforts of new products, and the targeting of unmet needs in the lucrative and growing prescription dermatological therapeutic market."
The Company will announce the date and time of a teleconference call for investors in the near future.
About Senetek PLC
Senetek PLC (OTC Bulletin Board: SNTKY - News) is a life sciences product development company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Kinetin, Senetek's lead commercial product, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies, and Senetek has entered into an exclusive global license with Valeant Pharmaceuticals for Senetek's proprietary anti-aging skincare compound Zeatin. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for its patented combination drug treatment for erectile dysfunction, Invicorp®, has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject®.
Visit Senetek PLC's Web site at http://www.senetekplc.com.
I have an average price around 30 cents. I think this stock will start its move upwards in 2 weeks once the first quarter numbers get released. I believe we will be over a dollar this year.
This stock is at bargain basement prices. Once this stock get noticed from the first quarter numbers, investors will see the huge potential from the pipeline and start buying.
A name change would be nice since I always refer to them as Senesucky lol. Down alot on this stock from years ago.
Transcript of last conference call at the link. Looks like they are going to completely remodel the business. Senetek is really just a virtual company now, anyway.
Capital restructure and start to manufacture products ( PRK124, 4HBAP and others). Cosmetic fillers are a nice fit with the business if they get a deal done.
I think this stock is a bargain at these prices but it might be best to wait until the merger and capital restructure is over. Fresh blood in management and a new name will be very helpful, too. Senetek does not have a good name at this point after the proxy vote fight from a few years ago.
I think management is doing a great job and has a clear vision for the future and I see a bright future, too.
http://www.investorvillage.com/smbd.asp?mb=6537&pt=qn
Senetek Initiates Clinical Trials of Pyratine 6 for Acne Rosacea
Wednesday April 11, 8:30 am ET
Comparison of Pyratine 6 and Kinetin Clinicals Shows Dramatic Advancements
NAPA, Calif.--(BUSINESS WIRE)--Senetek PLC (OTCBB: SNTKY - News), a life sciences product development company targeting the science of aging, has initiated clinical trials of its Pyratine 6 compound (PRK 124) for Acne Rosacea after evaluating positive results from a comparison of separate clinical trials of Pyratine 6 and Kinetin, Senetek's original anti-aging active ingredient.
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An independent comparative analysis evaluated the effectiveness of Senetek's second-generation patented cytokinin, Pyratine 6 (PRK 124) relative to its original anti-aging active ingredient, Kinetin. The analysis compared results of separate clinical studies conducted at the University of California, Irvine (Kinetin) and at the independent research laboratory RCTS, Inc. in Irving, Texas (Pyratine 6). The subjects in the Pyratine 6 clinical trial scored significantly higher on each measure than those in the Kinetin study throughout the 12 weeks of evaluation. In some measures the comparison was particularly notable, such as fine wrinkles (22% improvement with Pyratine 6 vs. 2% improvement with Kinetin after eight weeks), skin roughness (86% improvement with Pyratine 6 vs. 35% improvement with Kinetin after eight weeks) and overall skin aging (24% vs. 3% after eight weeks).
The Pyratine 6 study also featured additional evaluative methodologies not included in the Kinetin study, such as the NOVA Dermal Phase Meter for measuring the skin's moisture content, and expert evaluations of reductions in erythema (redness) and acne lesions. The NOVA apparatus measured increases in skin moisture content of 35% and 41% after eight and twelve weeks, respectively. The evaluations found 42% and 62% reductions in erythema after two and four weeks, respectively, and a 45% reduction in acne lesions after twelve weeks. Pyratine 6 was well tolerated by all subjects, producing no measurable skin irritation or signs of allergic contact dermatitis with twice-daily application over the 12 week study period.
Frank Massino, Chief Executive Officer of Senetek commented, "The data collected through the comparative analysis of Pyratine 6 and Kinetin has given us significant reason to focus our efforts on taking the strategic steps necessary to launch Pyratine 6 commercially as an anti-aging compound as well as initiate clinical trials to prove that Pyratine 6 can also be used as an effective treatment for Acne Rosacea. Following our success with Kinetin, we are excited about the potential for Pyratine 6 as it presents yet another valuable opportunity for our Company."
Enrollment has begun on the new Senetek sponsored Institutional Review Board (IRB)-approved pilot clinical study of Pyratine 6 for treatment of Rosacea, to be conducted at the University of California at Irvine. The comparative analysis results also have influenced one of the Company's prospective licensees, a major cosmetic company, to commence separate clinical trials of Pyratine 6 for Acne Rosacea and for skin whitening.
Acne Rosacea is a common chronic dermatosis characterized by inflammatory lesions and persistent erythema (redness) conservatively estimated to afflict some 16 million people in the U.S. and 45 million people worldwide. Acne Rosacea is currently primarily treated with oral antibiotics such as tetracycline and erythromycin and topical antibiotics such as metronidazole, which involve long-term tolerability and other health concerns.
About Senetek PLC
Senetek is a life sciences-driven product development and licensing company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Senetek holds patents on the use of Kinetin and its analog Zeatin, naturally occurring cytokinins that have proven effective in improving the appearance of aging skin with virtually none of the side effects associated with acid-based active ingredients, which it has licensed to Valeant Pharmaceuticals International, and on a number of second generation cytokinins and other plant-derived compounds. Senetek's researchers at the University of Aarhus in Denmark also are collaborating with a broad range of academic and government-based research enterprises, including The Institute of Experimental Botany of the Czech Academy of Sciences, and with the Department of Dermatology, University of California at Irvine, to identify and evaluate additional new biologically active compounds for this high growth field. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for its patented combination drug treatment for erectile dysfunction, Invicorp®, has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject®.
Visit Senetek PLC's Web site at http://www.senetekplc.com.
Safe Harbor Statement
Senetek posts $1.9M profit for year
Monday April 9, 5:06 pm ET
Senetek PLC said Monday it made a profit of $1.9 million for 2006, compared with a loss of $1.5 million for 2005.
The Napa company (OTCBB: SNTKY - News) develops treatments for skin and for sexual dysfunction. It reported revenue of $8.4 million for the year, compared with revenue of $5.9 million in 2005.
Last week, Senetek licensed two of its products to Aliso Viejo-based Valeant Pharmaceuticals (NYSE: VRX - News) for $21 million in cash and forgiveness of $6 million in debt. That money will be spent in part on developing new skin products.
Senetek is way under cash value. They have 24 million cash. That is a .40 cash value. This stock should keep rising as they get their story out to investors. The potential earnings from their large, diverse pipeline is huge but it has been an unknown stock up to now. Anyway, with the new P.R. efforts I expect this to turn around over the next 12 months and get them the price( over $2) needed for an AMEX listing.
Senetek PLC Grants Paid Up License to Valeant Pharmaceuticals
Monday April 2, 8:30 am ET
Senetek Receives $21 Million Cash Plus Share of Future Third Party Royalties and Forgiveness of $6 Million in Credits
NAPA, Calif.--(BUSINESS WIRE)--Senetek PLC (OTCBB: SNTKY - News), a life sciences product development company targeting the science of aging, today announced the signing of a monetization agreement with Valeant Pharmaceuticals North America Inc., the lead licensee of Senetek's patented Kinetin anti-aging active ingredient and the exclusive licensee of Zeatin, a new Kinetin analog. Under the agreement, Senetek has granted Valeant a paid up license for Kinetin and Zeatin and has assigned to Valeant future royalties from other Kinetin licensees, in return for Senetek receiving a cash payment of $21 million, forgiveness of a $6 million prepaid royalty credit reimbursement obligation that Senetek otherwise would have owed to Valeant, and a right to share in future royalties due to Valeant from other Kinetin licensees through 2011.
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Under an August 2005 agreement with Valeant, Senetek had granted Valeant a global exclusive license for Zeatin and had similarly broadening its license for Kinetin, subject to the terms of pre-existing Kinetin license agreements with third parties, and in return Valeant had agreed to minimum royalties of $27 million through 2010 net of prepaid royalties.
Frank J. Massino, Chairman and Chief Executive Officer of Senetek PLC, commented, "This transaction is non-dilutive to our shareholders and provides us the working capital to rapidly accelerate development of our rich pipeline of proprietary compounds, to acquire products, and to achieve our corporate goal of commercializing one new compound each year. Senetek's new focus will place increased emphasis on direct marketing efforts of new products with our sights on achieving greater revenues and larger economic benefits. This new strategic direction will also redirect our product development efforts to target unmet needs in the lucrative and growing prescription dermatological therapeutic market."
About Senetek PLC
Senetek PLC (OTCBB: SNTKY - News) is a life sciences product development company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Kinetin, Senetek's lead commercial product, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies, and Senetek has entered into an exclusive global license with Valeant Pharmaceuticals for Senetek's proprietary anti-aging skincare compound Zeatin. In addition, Senetek has entered into exclusive licenses for Europe and North America, respectively, for its patented combination drug treatment for erectile dysfunction, Invicorp®, has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject®.
For more information, visit the company's website at http://www.senetekplc.com/
Senetek Presents at the ValueRich Small-Cap Financial Expo
NAPA, Calif., March 27 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY), a life sciences product development company targeting the science of aging, today announced that the Company maintained a booth and made a short presentation at the 5th installment of the ValueRich Small-Cap Financial Expo at the Hotel InterContinental, Miami, Florida, on March 27th. A replay of the webcast is available at http://www.vrexpo.net.
'We are extremely excited about this opportunity to reach a large and diverse group of existing and potential investors,' said Mr. Frank J. Massino, Senetek's chairman and chief executive officer. 'We believe that the Senetek story offers a unique investment opportunity to the buy-side community, and we look forward to introducing our diverse intellectual property portfolio to a wider audience.'
Hosted by ValueRich Inc., the expo is a two-day event featuring rapidly growing small-cap companies, and giving them the opportunity to present their business plans and showcase their products and services in an expo-style format to a diverse array of buy-side professionals. Following the presentation, Mr. Bill O'Kelly, Senetek's Chief Financial Officer, met one-on-one with analysts and investors. Please visit http://www.vrexpo.net for more information.
About Senetek PLC
Senetek PLC (OTC Bulletin Board: SNTKY) is a life sciences product development company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Kinetin, Senetek PLC's lead commercial product, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies, including Valeant Pharmaceuticals International and The Body Shop. In addition, the Company has entered into an exclusive global license with Valeant for Senetek's proprietary anti-aging skincare compound, Zeatin, has entered into exclusive licenses for Europe and North America, respectively, for its patented combination drug treatment for erectile dysfunction, Invicorp(R), has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject(R).
Senetek PLC Announces Clinical Update on Invicorp(R)
Monday February 26, 8:00 am ET
Product Advances to Final Stage of Development
NAPA, Calif., Feb. 26 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY - News), a life sciences product development company targeting the science of aging, today reported that Plethora Solutions Holdings PLC (AIM: PLE), Senetek's exclusive licensee for its patented erectile dysfunction drug Invicorp® in North America, has announced that following positive discussions with the United States Food and Drug Administration, Plethora Solutions intends to initiate the final component of the clinical development program for Invicorp® in the U.S. in the second quarter of this year. The phase III program, in up to 30 sites in the U.S., is anticipated to take approximately 12 months to complete.
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Plethora licensed the exclusive North American rights to Invicorp® from Senetek in the first half of 2006. Invicorp® is a patented injectable combination of phentolamine mesylate and vasoactive intestinal polypeptide. Clinical data indicate that the efficacy and local tolerability profile of Invicorp® compare favorably with currently used injectable therapies. The product has already received marketing authorization in Denmark, which has been chosen as the Reference Member State for the Mutual Recognition Procedure in Europe, as well as in England. During 2005, Senetek entered into an exclusive license of European rights to Invicorp with Ardana Bioscience Ltd. of Edinburgh. Additionally, Invicorp® has been approved in New Zealand.
In Plethora Solutions' announcement, Professor Tom Lue, Vice Chair of Urology, UCSF and President of the Sexual Medicine Society of North America, commented, "The arrival of Invicorp into the US market should make an invaluable addition to our therapeutic armamentarium for many men, in particular those individuals for whom phosphodiesterase inhibitors give an unsatisfactory response or are contra-indicated and for those who like the quality and the speed of onset of an injectable."
Current pharmacotherapy for erectile dysfunction includes oral, transurethral and injectable intracavernosal treatments. The non-oral erectile dysfunction market was estimated as $85 million worldwide in 2003, with $45 million of sales in Europe and $32 million in the US (Source: IMS MAT Sept 03).
Dr. Mike Wyllie, Plethora CSO, commented: "Once again this re-enforces the value of the Plethora approach of developing products with large existing safety databases, ensuring a relatively rapid entry into the marketplace. Although there are marketed products in this segment of the market, we feel that Invicorp has a key point of differentiation. Invicorp injection is essentially pain free whereas the marketed products have been shown to produce compliance-limiting pain at the injection site in over 30% of men."
Frank Massino (CEO, Senetek) stated "We are extremely encouraged at the speed with which Plethora is moving Invicorp® towards the U.S. market. Leading market researchers have continually expressed that physicians eagerly await the availability of Invicorp® in the U.S."
Under the terms of Senetek's February 2006 license agreement with Plethora Solutions, Senetek will receive royalties on net sales of Invicorp® and milestone payments upon achievements of certain events.
About Senetek PLC
Senetek PLC (OTCBB: SNTKY - News) is a life sciences product development company with a portfolio of intellectual properties targeting the science of aging, including skincare and dermatological therapeutics, erectile dysfunction and nutrition. Kinetin, Senetek PLC's lead commercial product, is currently licensed and marketed by 10 pharmaceutical and cosmeceutical companies, including Valeant Pharmaceuticals International and The Body Shop. In addition, the Company has entered into an exclusive global license with Valeant for Senetek's proprietary anti-aging skincare compound, Zeatin, has entered into exclusive licenses for Europe and North America, respectively, for its patented combination drug treatment for erectile dysfunction, Invicorp®, has an exclusive manufacturing distributorship for its proprietary diagnostic monoclonal antibodies, and recently sold, with retained rights of profit participation, its patented drug delivery system, Reliaject®.
For more information, visit the company's website at http://www.senetekplc.com/.
Clinical Study Finds Kinetin + Niacinamide Combination Reverses Many Signs of
Facial Aging
National Taiwan University Hospital Study Also Shows Kinetin + Niacinamide May
Be An Adjunctive Treatment For Acne Rosacea and Xerosis
NAPA, Calif., Jan. 16 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY), a life sciences product development company targeting the science of aging, today announced the results of a clinical study conducted at the National Taiwan University Hospital, which demonstrate that Kinetin, Senetek's powerful antioxidant compound - when combined with niacinimide, a B complex vitamin - can effectively reverse many signs of facial aging in Asians.
The double-blind, randomized, vehicle-controlled clinical trial was conducted over twelve weeks starting on February 16, 2006 at The Center for Anti-aging and Health Consultation of the National Taiwan University Hospital in Taipei, Republic of China, under the sponsorship of Panion & BF Biotech Inc. (TPE: 1760), Senetek's Kinetin licensee for Taiwan and The Peoples' Republic of China.
Researchers selected 52 healthy Taiwanese female (91 percent) and male (9 percent) subjects whose ages ranged from 30 to 60. Enrolled subjects were randomized into two parallel treatment groups, each of which received two daily applications of a topical aqueous serum for 12 weeks. The first group received a topical application containing kinetin (0.03 percent) and niacinamide (4 percent) to one side of the face and a control serum containing no active ingredients to the other. The second group received a topical aqueous serum application containing only niacinamide (4 percent) to one side of the face and a control serum containing no active ingredients to the other. Each subject was evaluated at commencement of the study and after four, eight and 12 weeks using Canfield Scientific's VISIA Complexion Analysis System to photographically record changes in facial spots, pore count, wrinkle count and skin evenness, and Cutometer, Corneometer and Mexameter non-invasive probes to physically measure skin elasticity, skin moisture content and skin melanin and erythema, respectively.
For subjects receiving the Kinetin-niacinamide combination treatment, statistically significant improvements after 12 weeks included:
* 41 percent reduction in facial wrinkles;
* 16.3 percent improvement in facial evenness;
* 15.9 percent fewer pores;
* 6.8 percent fewer facial spots
* 16.7 percent increase in hydration of the stratum corneum, or the outer
most layer of the skin; and
* 10 percent less facial skin erythema, or abnormal skin redness.
Most significantly, subjects receiving the niacinamide-only treatment did not experience any statistically significant improvement in the last three indicia of skin aging (facial spots, stratum corneum hydration or erythema). In addition, no significant skin irritation or other adverse events were reported for either subject group, and there was no statistically significant difference in reported events between the two groups.
The study report written by attending dermatologist Pin-Chi Chiu, M.D. concluded that 'Kinetin, when combined with niacinamide, can be used as an adjunctive therapy for acne rosacea, xerosis and sensitive skin' and that 'the effects of kinetin and niacinamide are additive when compared to niacinamide alone. Study data suggest that these compounds have the capacity to exert multiactive, multifunctional and pluripotent effects on the skin.'
Frank J. Massino, Chairman and Chief Executive Officer of Senetek PLC, commented, 'Senetek believes these study results will further enhance Panion's ability to effectively market its line of Kinetin products throughout Taiwan and China. Panion has been a valuable partner, utilizing its world-class research and manufacturing facility and professionals to create an innovative product line that combines Senetek's Kinetin with Panion's synergistic active compounds in formulations specially designed for Asian customers.'
Michael Chiang, Executive President of Panion & BF Biotech, stated, 'The Taiwanese study results suggests that Kinetin's efficacy in reducing facial anti-aging signs in Asian skin is even greater when used in combination with niacinamide. With a growing trend of Asian consumers becoming more concerned about skin health and appearance, Panion will launch this clinically proven line of Kinetin combination products to dermatologists and plastic surgeons in Taiwan and expand to Mainland China.'
In 2003, Panion's premier Kinetin skin care product, New Skin, received approval as a functional care product from the Taiwan Department of Health. Since then, the company's full Kinetin product line has received the 2003 National Biotechnology and Medical Care Award from the President of Taiwan. Further Panion products, featuring Kinetin in combination with effective synergistic ingredients, will be submitted to the Taiwan Department of Health for registration as functional skin care products later this year.
About Panion & BF Biotech Inc.
Headquartered in Taiwan, Panion & BF Biotech Inc. (TPE: 1760) is engaged in the manufacture, sale, import and export of human-use medicine, food and cosmetics. Panion distributes domestically produced and foreign-imported human-use western medicine, medical cosmetics, medical equipment, as well as medicines, cosmetics and food from Mainland China across the domestic market and Asia. Panion's products are used for circulatory systems, nervous systems, digestive systems, antibiotic systems, urogenital systems and integumentary systems.
For more information, visit the company's website at http://www.pbf.com.tw/
About Senetek PLC
SENETEK PLC ANNOUNCES THE LAUNCH OF INVICORP® IN DENMARK
NAPA, California, December 19, 2006 -- Senetek PLC (OTCBB:SNTKY), www.senetekplc.com, a life sciences product development company targeting the science of aging to include skincare and dermatological therapeutics, erectile dysfunction, nutrition and cancer, announced today that the Company's marketing partner for Europe has launched Invicorp® in Denmark. Invicorp® is the Company's proprietary treatment for erectile dysfunction. It is estimated that 52% of men over the age of 40 suffer at some time from erectile dysfunction (ED) and many of them are unsuitable for treatment with existing oral therapies. Invicorp®, a local injectable treatment, is expected to treat those patients who need drug therapy for ED but are contraindicated for oral phosphodiesterase (PDE) inhibitors such as Viagra®, Levitra® and Cialis®. "Thirty percent of males afflicted with ED do not respond to oral drugs, another 15% reveal contraindications to currently available therapy, and a subset of patients actually prefer injection therapy due to its predictable short time-to-onset of erection and reliable rigidity compared to oral drugs.1"
"The launch of Invicorp in Denmark is a major achievement and validates another successful step in the execution of the Company's business plan which targets the commercialization of one new product per year," stated Frank Massino, Senetek Chairman and Chief Executive Officer. "We look forward to Invicorp's success in Denmark and to commercialization in other EU nations beginning in 2007."
Senetek PLC Reports Third Quarter 2006 Results
Third quarter revenue of $2,027,000, up 23% year over year
Third quarter net income of $771,000, $0.01 per share, compared to a net loss of ($266,000) in the prior year period
Cash flow from operations of $740,000 for the nine months ended September 30, 2006
NAPA, California, November 14, 2006 -- Senetek PLC (OTCBB:SNTKY), www.senetekplc.com, a life sciences product development company targeting the science of aging to include skincare and dermatological therapeutics, erectile dysfunction, nutrition and cancer, today announced results for the third quarter ended September 30, 2006.
Revenues for the third quarter of 2006 were $2,027,000, a 23% increase from $1,644,000 for the third quarter of 2005. Revenues for the nine months ended September 30, 2006 were $6,301,000, a 44% increase from $4,361,000 for the comparable period in 2005. The increase is principally attributed to increased royalties from Valeant Pharmaceuticals International stemming from the July 2005 amendment to the Kinetin and Zeatin license agreement.
Net income for the third quarter of 2006 was $771,000 ($0.01 per share) compared to a loss of $266,000 in the third quarter of 2005. Net income for the nine months ended September 30, 2006 totaled $1,309,000 ($0.02 per share) compared to a net loss of $938,000 for the first nine months of 2005. Net income for the nine months ended September 30, 2006 included a $927,000 non-cash expense for the write-off of the debt discount on retirement of the Senior Secured Notes in March and a $250,000 gain on the sale of Reliaject® assets in March.
Shareholder net deficit for the third quarter of 2006 was ($1,617,000), compared to ($3,035,000) at December 31, 2005. This 47% increase in equity during the nine months ended September 30, 2006 is a vast improvement and an important step forward in our goal of a national listing on the AMEX or NASDAQ Capital Market exchanges.
Cash flow provided from operations for the nine months ended September 30, 2006 was $740,000 compared to $1,244,000 of cash used in operations for the nine months ended September 30, 2005.
Business Highlights
"Senetek delivered another solid quarter both operationally and strategically, highlighted by the considerable progress we made on several compounds and applications in our portfolio," said Frank J. Massino, Senetek's Chairman and CEO.
"In addition, we recently announced a collaboration with the Polish Academy of Sciences that strengthens our foothold in the anti-aging market as well as provides us an entrée into the groundbreaking field of using interference RNA as a treatment for brain tumors. We are excited to be able to work with these great minds on such an important application and look forward to what we can achieve to help those afflicted overcome such a horrible disease. This relationship will benefit Senetek greatly and it helps firmly set the foundation for the continued growth of the Company."
Mr. Massino continued, "We also completed a twelve week clinical trial of 4HBAP and are extremely encouraged by the results that were seen in alleviating the signs of aging. The trial showed significant decreases in fine lines and course wrinkles around the eyes, as well as a significant improvement in the appearance of mottled hyperpigmentation and a dramatic improvement in the roughness of skin after just two weeks. With the efficacy and safety studies successfully completed, 4HBAP is now ready for commercialization."
"Looking to the future, we are excited about the opportunities that lie ahead as we continue to progress with our world class partners, moving toward commercialization of new compounds and applications and generating increased value for our customers, partners and shareholders."
The Company will conduct its quarterly teleconference call for investors on Friday, November 17 at 9:00 a.m. Pacific, 12:00 p.m. Eastern. The domestic dial-in number is 800-690-3108, the international dial-in number is 973-935-8753, conference ID: 8109360. Mr. Frank J. Massino, Chairman & CEO and Mr. William F. O'Kelly, Chief Financial Officer, will discuss the third quarter operating results and the outlook for the remainder of 2006. Replay of the conference call will be available until November 24, 2006. Domestic Replay dial-in 877-519-4471, International Replay dial-in 973-341-3080, replay conference ID: 8109360.
About Senetek:
Senetek is a life sciences product development company with an extensive array of intellectual properties covering in excess of 2000 patented and patent applied for compounds and uses targeting the science of aging to include skincare and dermatological therapeutics, erectile dysfunction, nutrition and cancer through RNA interference technology. The Company's lead commercial product, Kinetin, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies such as Valeant Pharmaceuticals and The Body Shop. In addition, the Company has entered into commercial arrangements for its proprietary anti-aging skincare compound, Zeatin, its patented combination drug treatment for erectile dysfunction, Invicorp®, its novel drug delivery system, Reliaject® as well as its proprietary diagnostic monoclonal antibodies.
For additional information, please visit Senetek PLC's Web site at http://www.senetekplc.com.
Senetek PLC Investor Relations Contact:
1-707-226-3900 ext. 102
KCSA Contacts:
Todd Fromer / David Burke
212-896-1215 / 1258
tfromer@kcsa.com / dburke@kcsa.com
Safe Harbor Statement:
This news release contains statements that may be considered 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act, including those indicating the financial outlook for fiscal 2006 and those that might imply commercial potential and successful evaluation and development of new compounds. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company's Annual Report on Form 10-K/A for the year 2005. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors that may result in any particular forward-looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.
News Source: Senetek PLC
NEWS ARCHIVES
Senetek PLC Acquires Rights to Anticancer Technology for the Treatment of Brain Tumors Using Interference RNA
NAPA, California, November 7, 2006 -- Senetek PLC (OTCBB:SNTKY), www.senetekplc.com, a life sciences product development company, today announced agreements with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences in Poznan, Poland for the exclusive rights to anticancer technology for the treatment of brain tumors using interference RNA, as well as exclusive rights to three compounds for the treatment of skin aging.
The collaboration with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences will provide Senetek three new compounds with differentiating benefits for treating skin aging and possibly other aging conditions through their use in licensed cosmeceutical, nutritional and prescription products.
In addition, Senetek has acquired the rights to technology developed by the Institute in cooperation with Department of Neurosurgery and Neurotraumatology University of Medical Sciences in Poznan, Poland for the treatment of human brain tumors using RNA interference to inhibit the production of tenascin-C, whose expression has been suggested to correlate with the grade of malignancy of brain tumors. Recently this new technology has been applied to the treatment of several patients with glioblastoma multiforme, a common form of brain tumor, with resounding success.
RNA interference has received a great deal of attention following the 2006 Nobel Prize award to two American scientists for the discovery of the molecular mechanism behind RNA interference. Scientists hope that these advances will lead to a new type of treatment for diseases such as cancer and AIDS.
Frank Massino, CEO and Chairman of Senetek, commented, "We are extremely excited about working with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences and the opportunities that lie ahead with both the technology for the treatment of brain tumors and the compounds for the treatment of anti-aging of the skin.
"The current options for patients with brain tumors consist of treatments such as surgery and chemotherapy and/or radiotherapy; which have an average survival time of only 8 to 10 months. This new technology works not only to prolong the survival of patients suffering from brain tumors, but possibly to cure them as well."
Mr. Massino added, "We believe that we have just begun to see the effectiveness of RNA treatment, and we look forward to our partnership with the Institute of Bioorganic Chemistry of the Polish Academy of Sciences to work together to discover the full potential of this breakthrough form of treatment."
Under the terms of the collaborative agreement, Senetek will have rights for all applications of the in-licensed technologies in exchange for undisclosed royalty payments to be paid to the Institute upon commercialization.
About Senetek:
Senetek is a life sciences product development company with an extensive array of intellectual properties covering in excess of 2000 patented and patent applied for compounds and uses targeting the science of aging to include skincare and dermatological therapeutics, erectile dysfunction, nutrition and cancer.
The Company's lead commercial product, Kinetin, is currently licensed and marketed by 14 pharmaceutical and cosmeceutical companies such as Valeant Pharmaceuticals and The Body Shop. In addition, the Company has entered into commercial arrangements for its proprietary anti-aging skincare compound, Zeatin, its patented combination drug treatment for erectile dysfunction, Invicorp®, its novel drug delivery system, Reliaject® as well as its proprietary diagnostic monoclonal antibodies.
For additional information, please visit Senetek PLC's Web site at http://www.senetekplc.com.
About The Polish Academy of Sciences:
The Polish Academy of Sciences is a state scientific institution founded in 1952. From the very beginning, it has functioned as a learned society acting through an elected corporation of top scholars and research organizations, via its numerous scientific establishments. It has also become a major scientific advisory body
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