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Also, the variable is the type of crude. The thinner the better. 15,000 bbls. life is not very much. If it is $20.00 heavy oil with a cost of $10-12 to produce..... Need I say more??
Life of an oil well is the time needed to deplete the natural resource to a point where it is no longer economically viable. The average is 5 years but with improved methods that can be extended to 20 or 30 years.
Hope this helps.
VAS-T close 2.35 NR (shares 82 M)
Vasogen welcomes Cresswell and Stiller to board
2006-01-10 07:19 ET - News Release
Mr. Glenn Neumann reports
VASOGEN ANNOUNCES THE APPOINTMENTS OF DR. RONALD CRESSWELL AND DR. CALVIN STILLER TO BOARD OF DIRECTORS
Vasogen Inc. has appointed Dr. Ronald M. Cresswell, PhD, DSc, FRSE, and Dr. Calvin R. Stiller, CM, OONT, MD, FRCP(C), to its board of directors. Both Dr. Cresswell, former senior vice-president and chief scientific officer of Warner-Lambert, and Dr. Stiller, co-founder, and former chairman and chief executive officer of the Canadian Medical Discoveries Fund, have considerable experience directing the research, development and business initiatives of companies commercializing products for the health care industry.
"Drs. Stiller and Cresswell are highly respected individuals and have outstanding track records in the research and development of new therapeutics for a broad range of health care markets," commented William R. Grant, chairman of the board of Vasogen. "I am extremely pleased that both Cal and Ron have agreed to join our board, as their extensive industry experience will serve Vasogen well as we approach the completion of two pivotal phase III programs targeting large cardiovascular markets."
Dr. Cresswell brings over 30 years of research and commercial development experience in cardiovascular and other important therapeutic areas to Vasogen's board of directors. Dr. Cresswell, the former senior vice-president and chief scientific officer of Warner-Lambert, began his tenure with Warner-Lambert in 1988 as the president of research and development of the Parke-Davis pharmaceutical research division. From 1989 to 1998, he served as vice-president and chairman of the Parke-Davis worldwide pharmaceutical research division. Dr. Cresswell's vision and leadership in the development of Lipitor at Parke-Davis was instrumental in the product's ultimate success. Dr. Cresswell joined Warner-Lambert from Laporte Industries Ltd., an international chemical company, where he was chief operating officer. Prior to this, Dr. Cresswell was with Burroughs Wellcome for over 20 years. At Burroughs Wellcome, he held a broad range of research and development positions in both the United Kingdom and the United States, and was responsible for a research staff of over 3,000 people. Dr. Cresswell has served on the board of directors of Esperion Therapeutics Inc., Allergan Inc. and Curagen Corp.
Dr. Stiller brings a strong background in medicine and immunology to Vasogen's board of directors, and has extensive experience in developing new therapeutics for a broad range of disease targets. He is currently a professor of medicine, and a professor in the microbiology and immunology department at the University of Western Ontario. Dr. Stiller established the Multi-Organ Transplant Service in London, Ont., and served as the unit's chief from 1984 to 1996. During this period, he was principal investigator of the Canadian multicentre study that established the importance of cyclosporine in transplantation and led to its worldwide use as first-line therapy for transplant rejection. Dr. Stiller is the co-founder of four health care funds including the Canadian Medical Discoveries Fund Inc., where he served as chairman and chief executive officer. He was a member of the council and executive committee of the Medical Research Council of Canada (1987 to 1993), and is currently the chair of the Ontario Research and Development Challenge Fund and a board member of the Ontario Innovation Trust. Dr. Stiller serves on the board of directors of NPS Pharmaceuticals Inc., Spectral Diagnostics Inc., Residence Retirement Real Estate Investment Trust and CPL Trust, and several public endeavours and foundations, including Genome Canada (chair), MARS (Medical and Related Sciences Discovery District) and OCRN (Ontario Cancer Research Network). He is also the recipient of numerous awards including the MEDEC Award, the Order of Canada and the Order of Ontario. In May, 2002, Dr. Stiller received an honorary doctor of laws degree from McMaster University in Hamilton.
We seek Safe Harbor.
MPH-T at 1.58 (78M Shares) NR
Medicure loses $3.53-million in Q2
2006-01-10 16:33 ET - News Release
Mr. Derek Reimer reports
MEDICURE ANNOUNCES FINANCIAL RESULTS FOR FISCAL SECOND QUARTER 2006
Medicure Inc. is providing the results of operations for the three- and six-month periods ended Nov. 30, 2005.
As at Nov. 30, 2005, the company had cash and cash equivalents totaling $3,586,000, compared with $7,591,000 at the previous year-end. Subsequent to Nov. 30, 2005, the company strengthened its cash position by raising gross proceeds of $12,013,000 (before share issuance costs of approximately $1,096,000) with a syndicate of underwriters led by Blackmont Capital Inc. and including National Bank Financial Inc. A total of 7.75 million common shares of Medicure were issued at $1.55 per share. The financing increased the company's cash and cash equivalents to $13,756,000 at Jan. 4, 2006.
Research and development expenditures for the second quarter of fiscal 2006 were $3.01-million as compared with $3,068,000 for the same quarter in fiscal 2005. The year-to-date research and development expenditures are $6,307,000, compared with $5,272,000 for the six-month period ended Nov. 30, 2004. The increase in expenditures for the six-month period ended Nov. 30, 2005, as compared with the same period in fiscal 2005, is due mainly to the clinical development costs of the phase II coronary artery bypass graft (CABG) trial, MEND-CABG.
The MEND-CABG study is a placebo-controlled, double-blinded study that evaluated the cardioprotective and neuroprotective properties of the company's drug, MC-1. The trial enrolled 901 patients at 42 cardiac centres in Canada and the United States and is managed by Montreal Heart Institute and Duke Clinical Research Institute (DCRI). Subsequent to the end of the quarter, Medicure announced positive post operative day (POD) 30 results from MEND-CABG, demonstrating MC-1's cardioprotective efficacy versus placebo. Patients were also followed up to POD 90, which was 60 days after their last drug treatment. The results of this follow-up are expected in the second half of fiscal 2006. For the three- and six-month periods ended Nov. 30, 2005, total expenditures for the MEND-CABG trial were $1,792,000 and $4.23-million respectively, as compared with $1,868,000 and $3,226,000 for the three and six months ended Nov. 30, 2004.
The increase in research and development expenditures was also due to the clinical development program of MC-4232, a combination of MC-1 and the ACE inhibitor, lisinopril. As part of the phase II clinical development of MC-4232, the company recently completed and announced positive results from the phase II MATCHED study in patients with coexisting diabetes and hypertension. The study demonstrated the positive clinical effects of MC-4232 on certain primary and secondary blood pressure and metabolic endpoints, including fasting serum glucose, HbA1c and triglycerides. For the three and six months ended Nov. 30, 2005, total expenditures for the MATCHED study were $208,000 and $462,000 respectively, as compared with $480,000 and $703,000, for the three- and six-month periods ended Nov. 30, 2004.
Research and development expenses are expected to decrease in the remainder of fiscal 2006 as compared with fiscal 2005. This decrease in expenditures is expected to result from reduced clinical activity during fiscal 2006 as compared with fiscal 2005, as the MATCHED study is complete and MEND-CABG will be complete following the reporting of POD 90 results. The company expects a significant decline in clinical expenditures until the initiation of phase III studies.
"During the second quarter of fiscal 2006 and in the days that followed, Medicure achieved two of the most significant milestones in our company's history with the announcement of positive results from the phase II MEND-CABG and MATCHED studies," commented Medicure's president and chief executive officer, Albert D. Friesen, PhD. "Based on the positive clinical results in both studies, we now have two drugs, MC-1 and MC-4232, with significant market potential, advancing into phase III studies. Our focus for the remainder of the fiscal year now turns towards planning the phase III studies and advancing ongoing partnering negotiations."
Interest and other income for the second quarter of fiscal 2006 were $35,000 as compared with $97,000 for the same quarter in fiscal 2005. The year-to-date interest and other income is $72,000, compared with $203,000 for the six-month period ended Nov. 30, 2004. The decrease in interest and other income for the current quarter and the six-month period as compared with the same periods in fiscal 2005 is the result of lower cash and cash equivalents balance as compared with the same periods in fiscal 2005. The company anticipates that investment income will continue to fluctuate in relation to cash and short-term investment balances and interest yields.
General and administrative expenditures for the second quarter of fiscal 2006 totalled $636,000, compared with $569,000 for the same quarter in fiscal 2005. The year-to-date general and administrative expenditures are $1,173,000, compared with $1,074,000 for the six-month period ended Nov. 30, 2004. The overall increase in costs is primarily driven by an increase in business development costs and stock-based compensation expense. The company expects slightly higher levels of general and administrative activities for the remainder of the fiscal year ending May 31, 2006, as compared with the same period in fiscal 2005.
The financial results for the three-month period ended Nov. 30, 2005, reflect a consolidated net loss from operations of $3,538,000, or five cents per share, compared with $3,627,000, or five cents per share, for the three-month period ended Nov. 30, 2004. The year-to-date net loss from operations was $7.41-million, or 11 cents per share, compared with $6,242,000, or nine cents per share, for the six-month period ended Nov. 30, 2004. As discussed above, the consolidated net loss resulted mainly from the company's investment in the clinical development programs of MC-1 and MC-4232.
An expanded version of management's discussion and analysis and the financial statements for the three- and six-month periods ended Nov. 30, 2005, is accessible on Medicure's website.
Corporate highlights for the quarter
The following are significant events that occurred since the last quarterly report.
The company received positive results from the phase II MEND-CABG study. The study results showed that MC-1 had a statistically significant reduction in the composite of death, non-fatal myocardial infarctions (peak CK-MB greater than or equal to 100ng per millilitre) and non-fatal strokes versus placebo in patients undergoing coronary artery bypass graft surgery.
The company received positive results from the phase II MATCHED study with MC-4232. In the study, MC-4232 met certain primary blood pressure and metabolic end points.
The company confirmed that MC-1 received FDA Fast Track designation as a treatment to reduce cardiovascular and cerebrovascular events associated with ischemic and/or ischemic reperfusion injury in patients experiencing percutaneous coronary interventions, coronary artery bypass graft surgery and acute coronary syndrome.
The company appointed of Peter Quick, former president and chief executive officer of Quick & Reilly Inc., to its board of directors. Quick & Reilly was one of the first and largest discount brokerage firms in the United States, before being acquired by Bank of America. Mr. Quick was most recently president of the American Stock Exchange (Amex) from July, 2000, through to April, 2005.
The company confirmed that A. Michael Lincoff, MD, of the Cleveland Clinic has joined its scientific advisory board (SAB). Dr. Lincoff is an interventional cardiologist in the Cleveland Clinic department of cardiovascular medicine and a staff cardiologist in the Joseph J. Jacobs Center for Thrombosis and Vascular Biology, department of molecular cardiology, at the Cleveland Clinic Research Institute.
The company successfully closed a bought-deal financing with a syndicate of underwriters led by Blackmont Capital and including National Bank Financial, issuing 7.75 million common shares of Medicure at $1.55 per share for gross proceeds of $12,013,000.
We seek Safe Harbor.
RBM.V NR at .57 (67.7 M shares)
Closed today at .61
Response Biomedical 449,520 warrants for bonus
2006-01-10 16:10 ET - Shares for Debt
The TSX Venture Exchange has accepted for filing the company's proposal to issue 449,250 bonus warrants exercisable into common shares at a price of 42 cents per share to Hans E. Moppert in consideration of a guarantee of a $1-million (U.S.) revolving demand credit
SLX-T today 1.00
Stellar Pharmaceuticals signs licensing deal for Kuwait
2006-01-10 12:27 ET - News Release
Mr. Peter Riehl reports
STELLAR PHARMACEUTICALS AND AL-MOHAB TRADING & CONTRACTING COMPANY SIGN LICENSING AGREEMENT FOR NEOVISC'R' IN KUWAIT
Stellar Pharmaceuticals Inc. is signing a licensing agreement with Al-Mohab Trading & Contracting Co. for NeoVisc in Kuwait. Al-Mohab is a Kuwaiti company involved in the marketing and distribution of medical and hospital supplies. NeoVisc is a two-millilitre prefilled syringe of sterile 1 per cent sodium hyaluronate solution (1.5 million Dalton) used for the temporary replacement of synovial fluid in osteoarthritic joints. NeoVisc is packaged, sold and marketed as a three-injection therapy that has been shown to provide symptomatic relief of the pain of osteoarthritis (OA) for an average of six to 12 months. The product is administered weekly by injection, for a total of three injections, directly into the affected joint.
Peter Riehl, Stellar's president and chief executive officer, said: "Representing companies from Europe and North America, Al-Mohab is well placed within the medical community and enjoys excellent relationships with doctors, hospitals and medical clinics. The company is currently active with orthopedic surgeons in the osteoarthritis (OA) market and has a proven distribution network in place with the ability to successfully launch NeoVisc later this year. We believe that there is a similar per capita incidence of OA in Kuwait as in other markets in which NeoVisc is currently available. This agreement reflects our strategy to license our proprietary products into the global market place and we look forward to building a long-term working relationship with Al-Mohab."
Pursuant to the terms of the agreement, Al-Mohab will be responsible for obtaining all required regulatory approvals. Pending the receipt of these approvals, sales from this agreement could commence in the third quarter of 2006. This agreement has an initial three-year term and may be renewed for an additional three-year term with the mutual agreement of both parties.
Company issues shares for consulting services
Stellar Pharmaceuticals has also issued 2,500 common shares to an arm's-length consultant at a deemed issue price of 91 cents per share, being the closing price of such shares on the day the agreement in principle was reached with the consultant. These shares were issued to the consultant as payment for consulting services provided to the company during December, 2005.
We seek Safe Harbor.
Oops wrong board - Sorry...Too many things happening today. My URE-T is up a bit today. TVC-V is at 1.12 up .22, Best uranium I see today. Thanks
GSC-T up .11 today. Looking good.
MPH-T thru 1.50 I'm in
PYT-V at .62 up .08 NR
Pyng Medical to supply FAST1 to U.S. Marine Corps
2006-01-09 09:24 ET - News Release
Mr. Michael Jacobs reports
Pyng Medical Corp. has received an order from the United States Marine Corps Systems Command, based at Quantico, Va., for 120 FAST1 devices for a critical field evaluation.
These devices are uniquely modified prototypes and are based on suggestions of the U.S. Navy medical personnel working with the U.S. Marine Corp so that postuse removal of the FAST1 catheter from patients will be simplified.
The U.S. Marine Corps ordered the 120 FAST1 units for 60 recently redesigned and reconfigured medic assault packs (MAP). These evaluation MAP's will be sent to the field with front-line FMF (fleet marine force) Navy Corps personnel. At the conclusion of the field evaluation in early 2006, provided the Marine Corps is satisfied with the feedback from the Corps personnel, 1,800 of the MAP units will be deployed throughout the Marine Corps and each MAP will contain either one or two Pyng Medical FAST1 units.
Including the FAST1 in the new MAP is confirmation that the active-duty, front-line medical personnel have come to rely on the speed and reliability of the FAST1 device for securing rapid vascular access for casualties on the battlefield.
Dr. Richard Clinchy, director of business development for Pyng Medical, commented, "This recent development is, in part, the result of the previous recommendation of the FAST1 by the military's committee on tactical combat casualty care (January, 2005) and the incorporation of the FAST1 as the only intraosseous device in the recently released tactical combat casualty care (TC3) course (June, 2005), and can only result in increased sales to both the USA and international militaries."
We seek Safe Harbor.
ECU-V moving up. Not in.
TTH
Transition completes $10.35-million financing
2006-01-04 08:31 ET - News Release
Dr. Tony Cruz reports
TRANSITION THERAPEUTICS COMPLETES $10,350,000 BOUGHT DEAL OF COMMON SHARES
Transition Therapeutics Inc. has closed its previously announced bought deal financing with a syndicate of underwriters co-led by Versant Partners Inc. and GMP Securities LP and including Dundee Securities Corp. and National Bank Financial Inc. Under the financing, Transition issued 15 million common shares at a price of 69 cents per common share, for gross proceeds of $10.35-million.
The net proceeds of this financing will be used for the continuation of development of Transition's multiple lead products; the advancement of lead molecules identified by Transition's drug discovery technology into preclinical and clinical development; and general corporate and working capital purposes.
The underwriters will have the option, exercisable until Feb. 3, 2006, to acquire up to a total of 2.25 million transition common shares at a price of 69 cents per common share to cover overallotments, if any.
The common shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.
We seek Safe Harbor.
Tell me about it. I've been in MPH & CVQ for the last few months. So far so good. I spent too much time watching them before I bought...
So True. I bought Uranium & Oil instead. Should have known there would be another run in the making... Oh well, can't be right all the time.
Thanks for the support. I have added a couple more to the box. Did you look at the chart on NRI??? Very interesting.
Thanks
TOO-V Typhoon Exploration Inc. Another bullish candle. Not in it either.
WEE-V Wavefront energy. Interesting chart. Not in it, yet...
Any chance of adding a chart for uranium?? It is definitely hot (in more ways than one) right now. LOL
TIA
Remember this is the old DMX... Caution is warranted..
DDS-TO close Jan 06/2006 - 7.11
Old but Noteworthy:
Globe says Labopharm feels no pain with FDA surprise
2005-12-01 08:37 ET - In the News
The Globe and Mail reports in its Thursday, Dec. 1, edition the U.S. Food and Drug Administration has given Labopharm the green light to file its once-daily tramadol pain reliever early. The Globe's Leonard Zehr writes that Labopharm boss James Howard-Tripp said, "Although previously the FDA had indicated that our submission would require an additional positive phase III study, that is no longer the case." He said the FDA told Labopharm its existing data package is sufficient for review. In September, the FDA cleared Biovail's once-daily tramadol for sale. The FDA gave Biovail clearance without wanting an added late-stage clinical study. The FDA's new guidance caught some analysts by surprise. The news sent Labopharm's stock price to a 52-week high of $6.51 in Toronto Wednesday, before finishing at $6.41. Analysts figure the painkillers will share an annual market potential of more than $1-billion. The painkillers will hit that mark in about three years as they replace existing generic tramadol drugs. Merrill Lynch Canada to lifted its 12-month target price for Labopharm stock to $10.50 from $6.50. National Bank Financial raised its target to $10.25 from $9.
QLT-TO close Jan 06/2006 - 7.80
Globe says QLT options soar on takeover talk
2005-12-30 08:10 ET - In the News
The Globe and Mail reports in its Friday edition that speculation of a takeover and further restructuring hit QLT Thursday as investors made a huge bet trading options of the drug developer. The Globe's Leonard Zehr writes that QLT option prices more than doubled on contracts to buy its shares next June at a price of $7.50 (U.S.) apiece. Volume soared as 12,874 contracts changed hands, compared with 813 contracts previously outstanding and a daily average volume of 28 contracts. Optionetics analyst Frederic Ruffy said the focus on QLT's June options suggests that investors expect the company's shares to shoot up some time in the first half of 2006. On the Nasdaq Stock Market, QLT shares rose 15 cents to $6.35. Volume was 1.5 million shares, with most of the action late in the session. The stock was quoted as high as $17.30 last January and recently hit a 52-week low is $5.97. The Vancouver company struggles this year under a management upheaval in the wake of the disappointing $650-million acquisition of Atrix Laboratories Inc. in 2004. QLT is best known for its blindness drug Visudyne. But the company now faces competition from new rivals eating into Visudyne's cash flow.
I like to know what is available and who is buying and selling when I am in a stock.
Mainly I follow energy - uranium, oil and gas companies and a few favorites from Alberta like telus and Nortel.
I have been watching and investing in the odd drug (MPH & CVQ) for the last year or so. They have made me good money. I now hold free shares in both.
I am on stockwatch and stockcharts. I use the stockwatch for my info feed - Cdn. stocks plus indices. I no longer trade US stocks. You can get quotes & charts from them for all markets. I prefer E-signal for charts but I found that they didn't have market depth etc that I needed for DT. I have been trading for about 5 years.
I find it a real challenge to chart stocks and see if I am right/wrong on my evaluation of them. Needless to say if I have put up the money it can sometimes be painful. Last year my return on the portfolio was about 23%. Not bad considering that I made a few dumb moves. It should have been over 40%. Timing is sometimes hard to get. Still working on that..
Thanks for the comments and if you find a good stock that I have missed please mention it. I'll check out the chart on NRI and post it.
Thanks - Hope I have enough time to keep it current. Have a Great year in 2006.
Thats why I created a board for Canadian Drug Companies. A place for NR's, comments and to track various firms. I enjoy watching your site. Thanks for the time and effort you put into this.
It appears to be a lightly traded stock. Not a candidate for me in that it would be too hard to get in and out of, for day trades or short term swings. Interesting though.
NRI-T Close Jan6/2006 - .62
Chart looks interesting:
The chart sure looks interesting:
I would say uranium is heating up LOL
LOR-T .295
Globe says Lorus leukemia drug results positive
2005-12-13 05:18 ET - In the News
The Globe and Mail reports in its Tuesday, Dec. 13, edition that Lorus Therapeutics has posted positive interim clinical results with an experimental treatment for a form of leukemia. The Globe's Leonard Zehr writes that Lorus presented its data to the American Society of Hematology Monday. Lorus said its GTI-2040 drug combined with the chemotherapy drug cytarabine removed acute myeloid leukemia (AML) in 44 per cent of patients aged 60 or younger. The mid-stage study is being sponsored by the U.S. National Cancer Institute. The study is expected to finish in the first quarter next year. The institute is conducting six phase II trials with GTI-2040. GTI-2040 is an anti-sense drug designed to disrupt genetic signals that enable cancer cells to spread. Lorus chief Jim Wright said results are significant for the direct correlation between the drug's ability to disrupt genetic signals and patient response. "The drug is working the way it should in humans and is very safe." Mr. Wright said, "There are a number of [drug] companies interested in partnering with us to further develop GTI-2040." Lorus stock rose two cents to close on the Toronto Stock Exchange at 25 cents.
Thanks
MS-T
Price now 2.60
HEB-Q
Price now 2.19
MPH-T
Price now 1.44
CVQ-T Price Now 4.15
Any chance it might be contagious??? LOL
Luck always helps..Smarts would be better!! Oh well guess, I'll go with what I got (it sure isn't good looks, either..)
Gee, sounds like me..LOL
Making da mulah...Way to go.
Great Keep up the good work in ALL of 2006.
PBP-T .30
Old but interesting..
Procyon gets approval for PPL-100 phase I study
2005-12-08 08:49 ET - News Release
Mr. Hans Mader reports
PROCYON RECEIVES REGULATORY APPROVAL TO COMMENCE PHASE 1 CLINICAL TRIAL FOR ITS LEAD HIV PROTEASE INHIBITOR, PPL-100
Procyon Biopharma Inc. has received regulatory approval from the Therapeutic Products Directorate of Health Canada to initiate the first-in-man phase I clinical trial for its lead protease inhibitor PPL-100 for the treatment of drug-resistant HIV. As reported by the company in Stockwatch on Nov. 16, 2005, the data from the in vitro resistance study indicated the high genetic barrier of PPL-100 confirming the potential utility of the drug for first-line treatment of resistant HIV patients. New anti-viral drugs with a high genetic barrier (making it more difficult for the virus to develop resistance) are needed to fight the emergence of resistant HIV viruses.
The first-in-man phase I study, which will be initiated by the end of December, 2005, will be an escalating dose, placebo-controlled study conducted with 40 healthy male subjects, 30 receiving the active medication and 10 receiving placebo. Five doses of PPL-100 (300, 600, 1,200, 1,800 and 2,400 milligrams) will be administered in order to determine the maximum tolerated dose. Results from this study, including safety, tolerability and single-dose pharmacokinetics, will be used to finalize the protocol of the subsequent multidose study which is expected to be completed in the second quarter of fiscal 2006. The first-in-man phase I study is to be conducted in a United States Food and Drug Administration-approved contract research organization in Canada.
"We are very happy to have met this important milestone in our lead HIV protease inhibitor PPL-100 development program, as this allows us to advance this promising drug candidate to the clinical stage. As well, we expect to have results available within the next four to five months," said Hans J. Mader, president and chief executive officer of Procyon Biopharma.
About PPL-100
PPL-100, is a phosphorylated pro-drug of Procyon's PL-100 protease inhibitor. PL-100 is the active anti-viral agent that is potent, specific and non-cytotoxic with a high genetic barrier and favourable cross-resistance profile in drug and multidrug resistant strains of HIV-1. PL-100 is active against several HIV-1 strains specifically selected for key mutations that render these strains resistant to currently marketed protease inhibitors. Preclinical safety studies, as well as animal pharmacokinetic studies, have recently been completed and human clinical studies are expected to commence by the end of the year.
We seek Safe Harbor.