Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
TSSP .0008 TrendSetter Solar Products Launches Sales Campaign for the California Solar Initiative in San Diego, California
Jun 27, 2007 10:48:00 AM
Copyright Business Wire 2007
FAIRHAVEN, Calif.--(BUSINESS WIRE)--
TrendSetter Solar Products (Pink Sheets:TSSP) today announced it is launching a sales campaign focusing on the California Solar Initiative (CSI) Solar Water Heating (SWH) Pilot Program in San Diego, California.
The pilot program is being organized and managed by The California Center for Sustainable Energy, formerly the San Diego Regional Energy Office (SDREO), as directed by the California Public Utilities Commission (CPUC). A total of $1.5 million in incentives have been set aside for the pilot program and will be issued to qualifying residential and commercial projects in the San Diego region. The program is designed to evaluate systems, determine standards and set procedure for extending a solar water heating program to the rest of California in late 2008 or early 2009. The incentives being offered by the pilot program will be used to evaluate a variety of solar water heating systems offered by different manufacturers and have been certified by Solar Rating and Certification Corporation (SRCC). TrendSetter's systems carry the necessary SRCC rating to qualify the customers for the incentives. TrendSetter has begun their sales program in San Diego and expects to sign up several projects on the pilot program launch date of July 2, 2007.
TrendSetter's CEO, Dirk Atkinson, stated, "Our Management recognizes the importance of this pilot program and what it means for future sales of solar water heating in the California market. Our company has been working with the California Center for Sustainable Energy for several months so we would stay tuned into the progress of pilot program. TrendSetter has contributed knowledge to the program and donated equipment for display in the Center for Sustainable Energy showroom in San Diego. TrendSetter intends to be active participants, offering valuable feedback to the Center for Sustainable Energy based on what we learn while participating in the program and our previous 27 years in the solar thermal business."
About TrendSetter Solar Products
TrendSetter Solar Products, Inc. is a quality manufacturer of solar hot water heating and storage systems in the United States. TrendSetter's solar hot water systems and storage tanks are uniquely positioned to serve the residential and commercial market. The Company offers a comprehensive range of solar water heating solutions, including solar radiant floor heating options, which are rated and qualify for the new federal energy tax credit program. A standard residential hot water heater emits approximately one and a half tons of carbon dioxide and carbon monoxide into the atmosphere. TrendSetter's solar hot water heating and storage systems are emissions free. As global warming and alternate and renewable energies become more of a concern, TrendSetter's products are one of the answers. Additional information can be seen at the Company's website www.trendsetterindustries.com.
Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, and other factors which may be identified from time to time in the company's public announcements.
Source: TrendSetter Solar Products
----------------------------------------------
TrendSetter Solar Products
Inc.
Dirk Atkinson
CEO
dirkatkinson@comcast.net
ICBM OS 266,060,449 ....AS 500M
ICBM .001 TrendSoft Ltd., announces launch of the new I-Trend software program
Last update: 6/27/2007 10:00:00 AM
NEW YORK and MONTREAL, June 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- ICBS Limited (ICBS) (Pink Sheets :ICBM) a business development and management firm located in New York and Canada, announced today that TrendSoft Limited, is expected to launch its new I-Trend financial software program by August 1, 2007.
TrendSoft Ltd., announced today that it is expected to release its new software program i-Trend (R) by August 1, 2007
TrendSoft Ltd., has developed an artificial intelligence computer program called i-Trend (R) which is an investment decision support system that allows a user to develop trading strategies against historical data and develops an optimal plan for individual needs and constraints.
i-Trend (R) takes advantage of an Artificial Intelligence technique called evolutionary computing to simulate the strategy used by investors who compete with each other under complex conditions. Such conditions may include personality for example - psychological factors which can have subtle impacts on investment performance.
The system uses historical data along with all available news and information regarding the target stock company and builds a data base which then commits current up-to-date trading information on a continuous daily basis, thereby allowing i-Trend(R) to optimize the users strategy and project conditions that will allow the user to position themselves with the target stock. The company is projecting 1.5 million in sales within the first twelve months.
"This is very exciting for us", said Garth McIntosh, President and CEO ICBS, "I was personally very impressed with the capabilities of this program. In my opinion, this could revolutionize the ability of the less experienced market investor and create a level playing field with the professionals"
ICBS holds a 50% equity position in TrendSoft Limited. You can visit them at;
NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
SOURCE Inter Canadian Business Service
Garth McIntosh, President & CEO, (888) 932-4402, Source: ICBSLimited
Copyright (C) 2007 PR Newswire. All rights reserved
ICBM .001 TrendSoft Ltd., announces launch of the new I-Trend software program
Last update: 6/27/2007 10:00:00 AM
NEW YORK and MONTREAL, June 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- ICBS Limited (ICBS) (Pink Sheets :ICBM) a business development and management firm located in New York and Canada, announced today that TrendSoft Limited, is expected to launch its new I-Trend financial software program by August 1, 2007.
TrendSoft Ltd., announced today that it is expected to release its new software program i-Trend (R) by August 1, 2007
TrendSoft Ltd., has developed an artificial intelligence computer program called i-Trend (R) which is an investment decision support system that allows a user to develop trading strategies against historical data and develops an optimal plan for individual needs and constraints.
i-Trend (R) takes advantage of an Artificial Intelligence technique called evolutionary computing to simulate the strategy used by investors who compete with each other under complex conditions. Such conditions may include personality for example - psychological factors which can have subtle impacts on investment performance.
The system uses historical data along with all available news and information regarding the target stock company and builds a data base which then commits current up-to-date trading information on a continuous daily basis, thereby allowing i-Trend(R) to optimize the users strategy and project conditions that will allow the user to position themselves with the target stock. The company is projecting 1.5 million in sales within the first twelve months.
"This is very exciting for us", said Garth McIntosh, President and CEO ICBS, "I was personally very impressed with the capabilities of this program. In my opinion, this could revolutionize the ability of the less experienced market investor and create a level playing field with the professionals"
ICBS holds a 50% equity position in TrendSoft Limited. You can visit them at;
NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
SOURCE Inter Canadian Business Service
Garth McIntosh, President & CEO, (888) 932-4402, Source: ICBSLimited
Copyright (C) 2007 PR Newswire. All rights reserved
TAMG Transnational Automotive Group's LeCar Division Passes Key Ridership Milestone, amid Surging Demand
In Less Than One Year, LeCar Garners Highly Visible Success in Affordable VIP Transport Between Cameroon's Two Leading Cities; Ridership Surpasses 136,000 Passenger Trips
Jun 27, 2007 9:32:00 AM
Copyright Business Wire 2007
LOS ANGELES--(BUSINESS WIRE)--
Transnational Automotive Group, Inc. (TAUG) (http://ww.transauto-group.com/cms2) (OTCBB:TAMG), a global leader in transportation services and sustainable energy for the developing world, today announced that its LeCar Division has surpassed 136,000 passenger trips during 7,000 journeys in less than a year since the company began operations. LeCar operates a new luxury VIP coach bus service initially between Yaounde, the capital city of Cameroon, Africa and Douala, the nation's leading industrial center. The company anticipates opening routes to additional major cities in Cameroon in response to rising demand.
"LeCar is now recognized as the comfortable, secure, reliable way to travel between Cameroon's major cities," said Lal Karsanbhai, president of Cameroon operations for TAUG.
"Middle class workers and business professionals continue to drive demand for our service as they discover this low-stress, high-value addition to conducting their business," added Cyrille Tollo, general manager of LeCar.
LeCar features modern, clean, spacious new luxury coaches and upscale amenities that includes snack and non-alcoholic beverage hostess service and video entertainment during trips. Schedule frequency has also attracted many riders, with 15 hourly departures daily.
Safety is of highest priority for LeCar. The company's coaches are unique among Cameroon inter-city services in equipping each passenger with seat belts; hostesses ensure they are actually buckled. In addition, all LeCar vehicles have been outfitted with the latest GPS guidance systems and speed alarms. Drivers and hostesses receive specialized safety training, and are required to observe compulsory rest periods between journeys.
About Transnational Automotive Group
Transnational Automotive Group, Inc. (TAUG), a Nevada corporation that trades under the symbol (OTCBB:TAMG), is a transportation and sustainable energy company headquartered in Los Angeles, CA, with operating entities in Cameroon, and early-stage business development efforts in other Sub-Saharan African nations. TAUG's vision is to become the leading transportation and sustainable energy company on the African continent, and to establish key infrastructure and workforce development that dramatically accelerates Africa's economy and quality of life. TAUG is currently exploring the establishment of mass transit systems in leading African commercial and population centers, and preparing for expansion into additional industries, including manufacturing and marketing of sustainable bio-diesel fuels.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents files from time to time with the Securities Exchange Commission.
Source: Transnational Automotive Group, Inc.
----------------------------------------------
for Transnational Automotive Group
Inc.
Next Phase Communications
Kimball Thomson
801-918-3637
kthomson@npcomm.com
Mark Dayton
801-830-4197
mdayton@npcomm.com
GL today birdies!
$222.20 in Prize money for picking the time of post #222,222,222... Go to IHUB Milestone Board and cast your prediction NOW!!! Pass it On!! http://www.investorshub.com/boards/board.asp?board_id=1594
GL today everyone :)
$222.20 in Prize money for picking the time of post #222,222,222... Go to IHUB Milestone Board and cast your prediction NOW!!! Pass it On!! http://www.investorshub.com/boards/board.asp?board_id=1594
SPRT 5.31 support.com Introduces New Services to Help Consumers with Home Networks
- New Services Help Consumers with Home Network Configuration and Safety -
Jun 27, 2007 9:01:00 AM
REDWOOD CITY, Calif., June 27 /PRNewswire-FirstCall/ -- support.com, a service which provides consumers with Instant Technology Relief(SM) from their frustrating computer problems, today announced the availability of two new services for configuring and troubleshooting home networks and wireless home networks.
According to research firm Parks Associates, approximately 50% of U.S. home network owners have experienced a problem(i). "Printer configuration problems are the number one reported home networking issue," said Kurt Scherf, vice president and principal analyst at Parks Associates. "Solving basic home networking problems like sharing printers will be critical in order to move consumers beyond the use of basic functionality such as sharing a broadband connection, to more interesting applications like shared entertainment and multimedia content."
In addition to home networking setup headaches, home wireless networks which are not properly secured are at serious security risk. Malicious hackers can easily steal sensitive information, install malware or steal e-mail from unsecured wireless networks, without the user even knowing.
"Home networks need to be both easy to use and safe in order for consumers to get the most benefit out of them, yet many computer users don't have the time or inclination to deal with setup, configuration or security problems," said Anthony Rodio, chief marketing officer responsible for support.com. "support.com's home networking services are designed to help consumers quickly, easily and safely get more benefit from their wireless home network."
support.com Network Setup & Troubleshooting Service
This service is designed to help consumers detect and resolve problems with their home network, as well as ensure that consumers are getting the most use out of their home network. By setting up and configuring their router, enabling file and print sharing, setting up wireless security, and configuring the highest levels of encryption possible, support.com Solutions Engineers can help consumers feel confident that they have a functional and safe home network.
support.com Wireless Security Setup Service
This service is designed to help consumers who have already set up a wireless home network, yet want to make sure that their data is safe from malicious hackers. With this service, support.com Solutions Engineers will help consumers ensure that the wireless network is secure.
support.com's highly experienced, U.S.-based Solutions Engineers help to remotely diagnose and resolve computer problems. By going to http://www.support.com or calling 1-800-PC-SUPPORT, consumers don't have to waste time taking their computers to a store, shipping their PC to the manufacturer, inviting unknown repair technicians into their homes, or relying on family and friends to fix their computer problems. support.com leverages its own proven and patented problem resolution technology to both speed the
overall process and provide customers with a consistent experience, resulting in Instant Technology Relief(SM).
Pricing and Availability
The support.com Network Setup & Troubleshooting Service is available immediately for $79 at http://www.support.com. This includes setup for two computers and one printer, and $29 for each additional printer or computer.
The support.com Wireless Security Setup Service is available immediately for $49 at http://www.support.com. This includes setup for one wireless router and one computer, with $19 for each additional device.
About SupportSoft and support.com
SupportSoft (Nasdaq: SPRT) is a leading provider of technology problem resolution software and services. The Company's solutions reduce technology support costs, improve customer satisfaction and enable new revenue streams for companies reaching 50 million users worldwide. The Company has expanded its offerings and now provides Instant Technology Relief to frustrating technology problems directly to consumers at http://www.support.com/. For more information about the Company and its corporate offerings, visit supportsoft.com; for Instant Technology Relief(SM) to consumer technology problems, visit http://www.support.com/ or dial 1-800-PC-SUPPORT.
(i) "Managing the Digital Home: Installation and Support Services,"
Parks Associates, Q2, 2006
SOURCE support.com
----------------------------------------------
Jennifer Massaro of SupportSoft
Inc. +1-650-556-8596
jennifer.massaro@supportsoft.com; or Stephanie Rice of Ruder Finn
+1-310-882-4008
rices@ruderfinn.com
for SupportSoft
Inc.
NCST 2.10 NUCRYST Pharmaceuticals appoints Katherine J. Turner, PhD to Vice President, Research and Development
Jun 27, 2007 9:00:00 AM
WAKEFIELD, MA, June 27 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals is pleased to announce that Katherine J. Turner, PhD has been appointed Vice President, Research and Development. In this expanded role, Dr. Turner will be responsible for guiding the research and development of the company's medical product pipeline and will report to Scott H. Gillis, President & CEO, NUCRYST Pharmaceuticals Corp.
Dr. Turner has served as NUCRYST's Vice President, Research since June 2006. She will succeed Paul J. Schechter, MD, PhD, who is retiring effective June 30, 2007.
Prior to joining NUCRYST, Dr. Turner held the position of Vice President, Validation Biology at Biogen Idec Inc., where she directed research in immunology, neurobiology, fibrosis and oncology. Prior to this, Dr. Turner rose through positions of increasing responsibilities at Genetics Institute and its successor, Wyeth, to Vice President, Immunology and Hemostasis. She has published extensively in peer-reviewed journals, authored chapters in textbooks and presented research findings at symposia and professional meetings.
"We are pleased to have Dr. Turner assume responsibility for research and development. She is an accomplished scientist and biotechnology executive and has extensive experience in healthcare product development," said Mr. Gillis. "Dr. Turner will continue to play a pivotal role as we pursue our pipeline of medical products."
Dr. Schechter joined NUCRYST in 2002 and in addition to being the chief medical officer, led the company's research and development program, as well as regulatory affairs. He will provide continued support on a limited basis as a medical director.
"I want to thank Dr. Schechter for his years of service, dedication and important contributions to NUCRYST," said Mr. Gillis. "He was instrumental in establishing our pharmaceutical research and development program and his vast experience helped identify numerous therapeutic targets based on our patented atomically disordered nanocrystalline silver technology."
NUCRYST Pharmaceuticals (NASDAQ: NCST; TSX: NCS) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark: Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The Company has developed its proprietary nanocrystalline silver in a powder form for use as an active pharmaceutical ingredient, referred to as NPI 32101.
Acticoat(TM) is a trademark of Smith & Nephew plc
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp.
This news release may contain forward-looking statements within the meaning of securities legislation in the United States and Canada. These statements are based on current expectations that are subject to risks and uncertainties, and the Company can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including but not limited to: the initiation, timing, progress and results of our preclinical and clinical trials, research and development programs; our ability to implement our business model and strategic plans for our business, product candidates and technology; our ability to maintain and establish corporate collaborations; changes in general economic conditions; financial considerations; other risks and uncertainties unidentified at this time; and management's response to these factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
SOURCE NUCRYST Pharmaceuticals Corp.
----------------------------------------------
David Wills
Investor Relations
(416) 504-8464
info@nucryst.com
www.nucryst.com
TIBX 8.76 TIBCO Ranked Best BPM Solution by Waters Magazine for Fourth Consecutive Year
Overwhelming Number of Waters Magazine Readers Chose TIBCO as Best BPM Solution
Jun 27, 2007 9:00:00 AM
PALO ALTO, Calif., June 27 /PRNewswire-FirstCall/ -- TIBCO Software Inc. (Nasdaq: TIBX) today announced that, for the fourth consecutive year, TIBCO iProcess(TM) Suite was ranked the best solution in the Business Process Management (BPM) category in Waters Magazine's annual ranking of financial IT vendors. TIBCO received the most votes for Best BPM solution over IBM, BEA, as well as other software vendors.
"Financial services is a highly competitive landscape. The Waters Rankings celebrates exceptional achievement by solutions providers who deliver the tools and services our readers can't live without," said Phil Albinus, special projects editor, Waters. "TIBCO's fourth consecutive win in the category is both remarkable and telling: Waters readers regard TIBCO as the top provider for their business process management needs."
Waters Magazine is the leading publication covering the financial IT market. Relied on by financial technology professionals worldwide for focused, in-depth coverage of financial market data and technology, Waters conducts an annual survey of readers who cast their votes for their favorite tools and services in financial IT. Nearly 600 subscribers voted in this year's Rankings. The complete results of the 2007 Waters Rankings will be published in the July 2007 issue of Waters and will also be made available online via subscription at http://www.watersonline.com.
"Business processes are rarely static and nowhere is this more evident than in the global financial markets," said Ram Menon, executive vice president, Worldwide Marketing, TIBCO. "This vote of confidence from Waters readers, for the fourth year running, reinforces TIBCO's ongoing commitment to providing the financial services sector with proven, robust solutions that meet their dynamic needs."
About Waters
Each month, Waters reports and analyzes the business reasons for and practical implementation of financial technology in the capital markets and securities industry. Since its launch in 1993, securities industry professionals worldwide have relied on the magazine for its focused, in-depth coverage surrounding the confluence of business and technology in market data, trading & risk technology and infrastructure as well as the human issues of talent management, staff retention and compensation within the financial services community. With more than 10,100 subscribers around the world, Waters' readers enjoy the insights of CIOs and CTOs from the global markets. The magazine also releases the electronic newsletter WatersNews each Tuesday to more than 14,000 industry professionals and it sponsors conferences in New York, London, and Singapore plus briefings, and training courses in many of the world's financial centers. For more information, visit http://www.watersonline.com.
About TIBCO
TIBCO Software Inc. (Nasdaq: TIBX) provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 3,000 customers, TIBCO has given leading organizations around the world better awareness and agility-what TIBCO calls The Power of Now(R). To learn more, contact TIBCO at +1 650-846-1000 or on the Web at http://www.tibco.com.
TIBCO, The Power of Now, TIBCO iProcess, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
SOURCE TIBCO Software Inc.
----------------------------------------------
Jenna Kuhl of TIBCO Software Inc.
+1-650-846-5396
jkuhl@tibco.com; or Bill Bourdon of Bateman Group
+1-415-602-1491
bbourdon@bateman-group.com
for TIBCO Software Inc.
SUNW 4.99 Sun Donates High Availability Cluster Code to the Open Source Community, Enables Accelerated Innovation in Scale-Out Architectures
Two-year anniversary of Solaris OS release to open source community highlighted by new contributions
Jun 27, 2007 9:00:00 AM
SANTA CLARA, Calif., June 27 /PRNewswire-FirstCall/ -- Sun Microsystems, Inc., (Nasdaq: SUNW), announced it will release the Solaris(TM) Cluster source code through the HA (High Availability) Clusters community on the OpenSolaris(TM) site. Sun is releasing the Open High Availability Cluster in response to interest and feedback from the OpenSolaris community. For the first time, developers will be able to participate in the evolution of the software itself, as well as leverage the open source cluster technology to develop and support highly available application services.
"Sun is releasing this code to the community to accelerate innovation around clustered solutions, in a world moving quickly to scale-out architectures. When applied to Solaris or other technologies, the Solaris clustering code is a great base to support clustered and HA systems innovation throughout the community," said Rich Green, executive vice president, Software, Sun Microsystems, Inc. "The Open HA Cluster code allows open source developers to use the same Solaris HA infrastructure that powers enterprises' most mission critical applications with their open source and network facing applications and services."
Sun's first contributions are application modules, or agents, which enable open source or commercially available applications to become highly available in a cluster environment.
The Open HA Cluster code will be made available in three phases, beginning at the end of June and continuing over the next 18 months. In the first phase of Open HA Cluster, Sun will deliver code for most of the high availability agents offered with the Solaris Cluster product. Solaris Cluster's high availability agents allow developers to cluster-enable applications to run as either scalable or failover services. Sun is also making available the source code for the Solaris Cluster Automated Test Environment (SCATE) along with agent related documentation, to assist in testing new agents. The test framework and first test suite will be contributed at the end of June 2007. Among these agents are the Solaris(TM) Containers agent, the BEA Weblogic agent, and PostgreSQL.
Agents written using Open HA Cluster will also run on Solaris Cluster version 3.2 on the Solaris 10 OS. Subsequent phases of Open HA Cluster will include delivery of the code for the recently released Solaris(TM) Cluster Geographic Edition - software that enables multi-site disaster recovery by managing the availability of application services and data across geographically dispersed clusters. Later, Sun will release the code for the core Solaris Cluster infrastructure, again with SCATE infrastructure tests and documentation.
To learn more about Open High Availability Cluster and the HA Clusters community on OpenSolaris, and to review a complete list of the high availability agents offered with the Solaris Cluster product, please visit: http://www.opensolaris.org/os/community/ha-clusters/
In the two years since Sun first opened the source code of the Solaris software development build, the OpenSolaris project community has grown worldwide. More about the achievements of the OpenSolaris community can be found at http://blogs.sun.com/jimgris/entry/opensolaris_at_two
Sun offers a tiered set of support services for its software offerings, ranging from single incident to comprehensive developer plans. In addition, with a broad portfolio of training and certification offerings, developers can enhance their skillsets to take advantage of cutting-edge technologies. To learn more, please visit http://developers.sun.com/services
About Sun Microsystems, Inc.
A singular vision -- "The Network Is The Computer"(TM) -- guides Sun in the development of technologies that power the world's most important markets. Sun's philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at http://www.sun.com.
FOR MORE INFORMATION:
Bob Wientzen
Sun Microsystems
(303) 272-9471
bob.wientzen@sun.com
Sun, Sun Microsystems, the Sun logo, Solaris, Java, OpenSolaris, NetBeans, and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.
SOURCE Sun Microsystems, Inc.
----------------------------------------------
Sun Microsystems
Inc.
+1-650-786-7737
allpress@sun.com
DRRX 3.79 DURECT Announces the Initiation of Sufentanil Patch Phase II Study by Endo Pharmaceuticals
Jun 27, 2007 9:00:00 AM
CUPERTINO, Calif., June 27 /PRNewswire-FirstCall/ -- via COMTEX -- DURECT Corporation (Nasdaq: DRRX) announced today that Endo Pharmaceuticals Inc. (Nasdaq: ENDP) has commenced its Phase II clinical program designed to evaluate the conversion of patients being treated with various opioids to sufentanil patches utilizing DURECT's TRANSDUR(TM) technology. DURECT had previously announced positive results from an initial Phase II clinical study conducted by DURECT utilizing patches made by DURECT; that earlier study was an open label study designed to evaluate the transition of chronic pain patients from Duragesic(R) (transdermal fentanyl patch) to the sufentanil patch.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020717/DRRXLOGO)
"This is an important step forward for this program. Because the sufentanil patch is designed for once-a-week dosing, we believe it will provide meaningful patient benefits if approved," stated James Brown, President and CEO of DURECT Corporation.
DURECT's proprietary sufentanil patch is intended to provide extended chronic pain relief for up to seven days from a single application, as compared to the three days of relief provided with currently available opioid patches. DURECT anticipates that the small size of the sufentanil patch, potentially as small as 1/5th the size of currently marketed transdermal fentanyl patches for a therapeutically equivalent dose, may offer improved convenience and compliance for patients.
In March 2005, DURECT entered into an agreement granting Endo exclusive rights to develop, market and commercialize the sufentanil patch in the U.S. and Canada.
About DURECT Corporation
DURECT Corporation is an emerging specialty pharmaceutical company developing pharmaceutical systems based on its proprietary drug delivery platform technologies. The Company currently has a number of late-stage pharmaceutical products in development addressing large markets in pain management, with a number of research programs underway targeting chronic disease and other therapeutic areas. For more information, please visit http://www.durect.com.
Forward-Looking Statement
The statements in this press release regarding the sufentanil patch, its potential performance and attributes, and future development plans for the sufentanil patch are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Endo and our abilities to design, enroll, conduct and complete clinical trials, obtain successful results from such clinical trials, complete the design, development, and manufacturing process development of the sufentanil patch, obtain regulatory and manufacturing approvals from regulatory agencies, and manufacture and commercialize the sufentanil patch, as well as marketplace acceptance of the sufentanil patch. Further information regarding these and other risks is included in DURECT's Form 10-Q dated May 9, 2007 under the heading "Risk Factors."
NOTE: TRANSDUR(TM) is a trademark of DURECT Corporation. DURECT's sufentanil patch is under development and has not been submitted or approved for commercialization by the US Food and Drug Administration or other health authorities.
SOURCE DURECT Corporation
----------------------------------------------
Matthew J. Hogan
Chief Financial Officer of DURECT Corporation
+1-408-777-4936; Jeremiah Hall
Senior Vice President of Feinstein Kean Healthcare
+1-415-677-2700
jeremiah.hall@fkhealth.com
for DURECT Corporation
NOVL 7.65 Novell Helps Protect Corporate Assets From Attack by Expanding Security Management at the Endpoint
Jun 27, 2007 9:00:00 AM
Novell ZENworks Endpoint Security Management secures endpoints and corporate
data while keeping users productive
SAN FRANCISCO, June 27 /PRNewswire-FirstCall/ -- (Catalyst Conference) -- Novell today announced a new solution to help organizations enforce security policies at the most vulnerable location on the network, the endpoint. Novell(R) ZENworks(R) Endpoint Security Management complements the existing Novell ZENworks product line by extending policy-based management to device security. The new solution enforces security policies to control device ports, wireless connections and applications, as well as to guarantee data encryption. With ZENworks Endpoint Security Management, customers can mitigate security threats and ensure compliance with regulations and enterprise policies.
"Many vendors continue to cobble together disparate technologies in an attempt to provide manageable endpoint security for heterogeneous IT environments, including mobile and wireless clients," said Charles Kolodgy, research director at IDC. "Novell is instead entering the market with an innovative architecture that enables comprehensive and automated security policy management and enforcement on all clients."
The ubiquity of mobile computing and removable storage devices has increased the potential for security breaches from insecure devices (such as USB, Bluetooth* and MP3), wireless access, unencrypted data, and malicious software. With ZENworks Endpoint Security Management, companies can now establish and enforce security policies down to the endpoints, protecting corporate resources without inhibiting their users' productivity.
The new solution goes beyond anti-virus, anti-spyware and anti-malware software. ZENworks Endpoint Security Management automates the enforcement of corporate security policies, giving organizations control over their data and endpoint access while still allowing the safe use of removable drives and ensuring wireless security. It is the only product on the market with Location-Aware Enforcement, an intelligent feature that prevents unauthorized access by automatically adjusting security controls and protections based on the user's location. It also includes a personal firewall, which controls the network traffic to and from a user's computer based on security policies.
"Businesses need solutions that give their employees the flexibility to do their jobs without exposing the entire network to the security threats and data breaches that mobile computing can invite," said Joe Wagner, general manager of Systems and Resource Management at Novell. "With Novell ZENworks Endpoint Security Management, companies can ensure their systems and information are protected while enabling their employees to be productive in any location -- even if they are connected outside the firewall, wirelessly or without encryption."
Additionally, Novell now offers the Secure Desktop Solution, a new solution that combines the capabilities of ZENworks Endpoint Security Management with Novell ZENworks Asset Management and ZENworks Patch Management. This powerful solution completes the security lifecycle by automatically auditing, measuring and mitigating desktop security risks on a continual basis. This comprehensive approach to security and resource management maintains the integrity of an organization's IT systems and ensures end-user productivity.
Novell has engaged in a strategic relationship with Senforce Technologies*, a leader in endpoint security products, to provide ZENworks Endpoint Security Management as part of Novell's larger systems and resource management offerings.
Pricing and Availability
Novell ZENworks Endpoint Security Management is available today from Novell for a list price of $69 per device or as part of the Secure Desktop Solution for a list price of $120. For more information about Novell ZENworks, visit http://www.novell.com/products/zenworks/endpointsecuritymanagement.
About Novell
Novell, Inc. (Nasdaq: NOVL) delivers infrastructure software for the Open Enterprise. Novell is a leader in enterprise-wide operating systems based on Linux and open source and provides the enterprise management services required to operate mixed IT environments. Novell helps customers minimize cost, complexity and risk, allowing them to focus on innovation and growth. For more information, visit http://www.novell.com.
Novell and ZENworks are registered trademarks of Novell, Inc. in the United States and other countries. *All third-party trademarks are the property of their respective owners.
SOURCE Novell, Inc.
----------------------------------------------
Kerry Adorno of Novell
Inc.
+1-781-464-8042
kadorno@novell.com; or Amanda Munroe of SHIFT Communications
+1-617-779-1816
amunroe@shiftcomm.com
for Novell
Inc.
ONCY 1.96 Oncolytics Biotech Inc. Commences Patient Enrolment in U.S. Phase II Sarcoma Clinical Trial
Jun 27, 2007 9:00:00 AM
CALGARY, June 27 /CNW/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ:ONCY) announced today that patient enrolment has commenced in its U.S. Phase II trial to evaluate the intravenous administration of REOLYSIN(R) in patients with various sarcomas that have metastasized to the lung. Patients are being enrolled at the Montefiore Medical Center/Albert Einstein College of Medicine in the Bronx, New York, the University of Michigan Comprehensive Cancer Center in Ann Arbor, and the Cancer Therapy and Research Center, Institute for Drug Development in San Antonio, Texas.
"The initiation of this trial represents an important milestone for the Company," said Dr. Brad Thompson, President and CEO of Oncolytics. "We are now treating patients with advanced cancers in Phase II clinical trials in the U.S. and the U.K., with additional Phase II trials expected to begin before the end of the year. These trials are expected to yield information that will guide the late stage clinical development program for REOLYSIN(R)."
The trial (REO 014) is a Phase II, open-label, single agent study whose primary objective is to measure tumour responses and duration of response, and to describe any evidence of antitumour activity of intravenous, multiple dose REOLYSIN(R) in patients with bone and soft tissue sarcomas metastatic to the lung. REOLYSIN(R) will be given intravenously to patients at a dose of 3x10(10) TCID(50) for five consecutive days. Patients may receive additional five-day cycles of therapy every four weeks for a maximum of eight cycles. Up to 52 patients will be enrolled in the study.
Eligible patients must have a bone or soft tissue sarcoma metastatic to the lung deemed by their physician to be unresponsive to or untreatable by standard therapies. These include patients with osteosarcoma, Ewing sarcoma family tumours, malignant fibrous histiocytoma, synovial sarcoma, fibrosarcoma and leiomyosarcoma.
"There are very few treatment options for patients with bone or soft tissue sarcomas," said Dr. Matt Coffey, Oncolytics' Chief Scientific Officer. "Our decision to choose this indication is based on the observed activity of REOLYSIN(R) against sarcomas in both preclinical and clinical studies."
About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further information about Oncolytics, please visit www.oncolyticsbiotech.com
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the Company's expectations related to the U.S. Phase II sarcoma clinical trial and the Company's belief as to the potential of REOLYSIN(R) as a cancer therapeutic, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of REOLYSIN(R) as a cancer treatment, the tolerability of REOLYSIN(R) outside a controlled test, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize REOLYSIN(R), uncertainties related to the research and development of pharmaceuticals and uncertainties related to the regulatory process. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements.
----------------------------------------------
Oncolytics Biotech Inc.
Cathy Ward
210
1167 Kensington Cr NW
Calgary
Alberta
T2N 1X7
Tel: (403) 670-7377
Fax: (403) 283-0858
cathy.ward@oncolytics.ca; The Equicom Group
Nick Hurst
325
300 5th Ave. SW
Calgary
AB
T2P 3C4
Tel: (403) 538-4845
Fax: (403) 237-6916
nhurst@equicomgroup.com; The Investor Relations Group
Erika Moran
11 Stone St
3rd Floor
New York
NY
10004
Tel: (212) 825-3210
Fax: (212) 825-3229
emoran@investorrelationsgroup.com
PARS 1.40 Pharmos Commences Phase 2a Trial of Topical Diclofenac NanoEmulsion Cream
Proof-of-Concept Study to Evaluate Safety and Analgesic Efficacy in Osteoarthritis Pain
Jun 27, 2007 9:00:00 AM
ISELIN, N.J., June 27 /PRNewswire-FirstCall/ -- Pharmos Corporation (Nasdaq: PARS) announced today that patient screening has commenced in its Phase 2a clinical trial of its topical NanoEmulsion (NE) drug delivery technology formulated with 3% diclofenac. The trial will compare the safety and analgesic efficacy of the diclofenac NE cream with placebo in approximately 126 subjects with knee osteoarthritis (OA). OA affects approximately 12% of U.S. adults, a significant portion of whom are not treated pharmacologically due to side effects associated with the commonly used oral treatments. A site-specific, topical diclofenac product that could deliver a high drug concentration to the affected joint with minimal systemic exposure could reduce the risk of treatment-limiting side effects while maintaining the analgesic effect.
Up to eight sites in Israel will participate in the double-blind, randomized, placebo-controlled, parallel group study. Patients will apply the 3% diclofenac NE cream or placebo cream three times daily for 28 days. The analgesic effect of the 3% diclofenac NE cream will be evaluated using the Western Ontario and McMaster (WOMAC) Index pain subscale and through assessment of pain resulting from daily activities. The WOMAC Index, which is widely used in the evaluation of knee and hip OA, is self-administered and measures pain, disability and joint stiffness. The estimated duration of the enrollment period for this study is 9 months.
Diclofenac is an approved and widely used generic non-steroidal anti- inflammatory drug (NSAID). Due to their analgesic and anti-inflammatory properties, NSAIDs, including diclofenac, are commonly used for the pharmacological management of OA, especially in patients that have moderate or severe degrees of pain. However, oral administration of NSAIDs results in higher systemic drug exposure, which may lead to gastrointestinal, renal and cardiovascular toxicity, especially in the elderly population. In contrast, topical drug administration results in low systemic drug exposure and completely avoids direct exposure to the gastrointestinal tract. Applying an analgesic medication directly to the affected area also improves patient compliance, and enables a more controlled delivery of drugs with shorter half- lives and/or narrower therapeutic windows compared to oral administration.
About NanoEmulsion Topical Drug Delivery
Pharmos' NE drug delivery system consists of an efficient solvent-free topical vehicle based on drug entrapment in stable, submicron particles of oil-in-water emulsions with a mean droplet size between 100 and 200 nm that are uniformly dispersed in an aqueous phase. One of the unique characteristics of the NE technology is the relatively high percentage of total particle volume occupied by the internal hydrophobic oil core of the droplets. This provides high solubilization capacity for lipophilic compounds compared to other lipoidal vehicles such as liposomes. Viscosity-imparting agents are used for NE thickening to produce creams with the desired semisolid consistency for application to the skin. Another unique characteristic of Pharmos' NE technology is that it does not employ the chemical penetration enhancers commonly used in other topical drug delivery vehicles, which may cause skin irritation and sensitization. Pharmos' NE cream is composed of natural lipids and oils designed to minimize irritation.
Pharmos' NE cream formulated with diclofenac has completed two Phase 1 studies in healthy volunteers. The first study was a 48-hour human patch test in 25 volunteers for evaluation of the irritation potential of 1% diclofenac NE cream. No irritation or allergic responses were observed after topical application. The second Phase 1 study was a 14-day, open label study in 16 volunteers to investigate the pharmacokinetics, safety and tolerability of 3% diclofenac NE cream. The 3% diclofenac NE cream was found to be safe and well tolerated with no signs of skin irritation at the site of application of the cream and no severe or serious adverse events; subject compliance with the 14- day treatment period was excellent. The pharmacokinetic analysis demonstrated low systemic exposure of diclofenac with no drug accumulation following repeated daily administrations.
Data from preclinical studies undertaken by Pharmos with diclofenac encapsulated in NE cream in a paw edema animal model showed enhanced anti- inflammatory activity compared to commercial formulation. Pharmacokinetic studies using NE creams containing radiolabeled diclofenac were performed to assess drug penetration through skin and to determine local tissue (muscle and joint) and plasma levels of drugs following topical administration. Compared to oral administration, diclofenac administered via NE topical cream demonstrated 4-6 fold lower drug concentration in plasma, 60-80 fold more drug in muscle tissue, and about 9 fold more drug in joints.
The skin penetrative properties of the solvent-free NE delivery technology and its low irritancy make this novel topical nanovehicle a promising candidate for effective transcutaneous delivery of lipophilic drugs. Pharmos owns a family of patents covering novel NE formulations as vehicles for localized delivery of lipophilic drugs. The NE technology is also potentially applicable for topical delivery of the Company's proprietary library of CB2 receptor selective agonists for pain indications.
About Osteoarthritis
OA is a chronic condition involving degeneration of cartilage within the joints. It is the most common form of arthritis and is associated with pain, substantial disability, and reduced quality of life. There are about 30 million patients with diagnosed OA in the U.S. Of U.S. adults aged 30 years and older, approximately six percent have symptomatic OA of the knee and approximately three percent have symptomatic OA of the hip. OA increases with age: the incidence and prevalence increase by two- to ten-fold from age 30 to 65 and continues to increase after age 65. With the increasing age of the population, the number of patients suffering from OA is expected to increase.
About Pharmos Corporation
Pharmos discovers and develops novel therapeutics to treat a range of indications including specific diseases of the nervous system such as disorders of the brain-gut axis (GI/IBS), pain/inflammation, and autoimmune disorders. The Company's lead product in development, dextofisopam, is undergoing Phase 2b testing in IBS patients. Dextofisopam has completed a Phase 2a IBS study in which it demonstrated a statistically significant effect compared to placebo on the primary efficacy endpoint of adequate relief (n=141, p=0.033). The Company's core proprietary technology platform focuses on discovery and development of synthetic cannabinoid compounds with a focus on CB2 receptor selective agonists. Cannabinor, the initial CB2-selective agonist candidate, has completed two Phase 2a i.v. pain studies in which analgesic properties were observed. Other compounds in Pharmos' pipeline are in preclinical studies targeting pain, multiple sclerosis, rheumatoid arthritis and other disorders.
Safe Harbor Statement
Statements made in this press release related to the business outlook and future financial performance of Pharmos, to the prospective market penetration of its drug products, to the development and commercialization of its pipeline products and to its expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos' filings with the Securities and Exchange Commission could affect such results.
SOURCE Pharmos Corporation
----------------------------------------------
S. Colin Neill
CFO
+1-732-452-9556
or Gale Smith
+1-732-452-9556
both of Pharmos U.S.; or Investors
Sara Ephraim
+1-646-536-7002
or Media
Janine McCargo
+1-646-536-7033
both of The Ruth Group
Inc.; or Irit Kopelov of Pharmos Israel
+011-972-8-940-9679
SHMR 10.01 Shamir Optical Industry Ltd. Announces Declaration of a Cash Dividend
Jun 27, 2007 8:30:00 AM
KIBBUTZ SHAMIR, Israel, June 27 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. (Nasdaq: SHMR) ("Shamir"), a leading provider of innovative products and technology to the progressive ophthalmic lens market, announced today that its board of directors had declared a dividend distribution in an aggregate amount of US$ 4.0 million (approximately NIS 17,048,000 based on the June 26, 2007, representative rate of exchange), or approximately US$ 0.246 (approximately NIS 1.048 based on the June 26, 2007, representative rate of exchange) per ordinary share based on the number of outstanding shares of Shamir as of the date hereof. The dividend will be payable on or about July 25, 2007, to shareholders of record as of the close of business on July 9, 2007.
The dividend will be paid to Shamir shareholders in US Dollars, except for holders of Shamir shares traded on Tel-Aviv Stock Exchange (i.e., shares registered in the name of the nominee company of Bank Hapoalim Ltd.), who will be paid in NIS according to the representative rate of exchange published by the Bank of Israel on July 24, 2007.
The dividend will be paid to the Shamir shareholders net of taxes to be withheld at source pursuant to Israeli law.
About Shamir
Shamir is a leading provider of innovative products and technology to the progressive spectacle lens market. Utilizing its proprietary technology, the company develops, designs, manufactures, and markets progressive lenses to sell to the ophthalmic market. In addition, Shamir utilizes its technology to provide design services to optical lens manufacturers under service and royalty agreements. Progressive lenses are used to treat presbyopia, a vision condition where the eye loses its ability to focus on close objects. Progressive lenses combine several optical strengths into a single lens to provide a gradual and seamless transition from near to intermediate, to distant vision. Shamir differentiates its products from its competitors' primarily through lens design. Shamir's leading lenses are marketed under a variety of trade names, including Shamir Genesis(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Nano(TM) and Shamir Autograph(TM). Shamir believes that it has one of the world's preeminent research and development teams for progressive lenses, molds, and complementary technologies and tools. Shamir developed software dedicated to the design of progressive lenses. This software is based on Shamir's proprietary mathematical algorithms that optimize designs of progressive lenses for a variety of activities and environments. Shamir also has created software tools specifically designed for research and development and production requirements, including Eye Point Technology software, which simulates human vision.
Safe Harbor Statement
Statements concerning Shamir's business outlook or future economic performance; product introductions and plans and objectives related thereto; and assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the conflicts in the region; the effects of competition in our industry, and changes in our relationships with optical laboratories, distributors, research and development partners and other third parties; the effects of the international expansion of our operations and our ability to manage our growth, including our ability to manage potential future acquisitions; the effect of global economic conditions in general and conditions in Shamir's industry and target markets in particular; shifts in supply and demand; market acceptance of new products and continuing products' demand; the impact of competitive products and pricing on Shamir's and its customers' products and markets; timely product and technology development/upgrades and the ability to manage changes in market conditions as needed; interest rate fluctuations; and other factors detailed in Shamir's filings with the Securities and Exchange Commission. Shamir assumes no obligation to update the information in this release.
Investor Relations Contacts:
Roni Gavrielov Jeffrey Goldberger/Marybeth Csaby
KM / KCSA Investor Relations KCSA Worldwide
+972-3-516-7620 212-896-1249/212-896-1236
roni@km-ir.co.il jgoldberger@kcsa.com / mcsaby@kcsa.com
SOURCE Shamir Optical Industry Ltd.
----------------------------------------------
Roni Gavrielov of KM
for KCSA Investor Relations
+972-3-516-7620
roni@km-ir.co.il; or Jeffrey Goldberger
+1-212-896-1249
jgoldberger@kcsa.com
or Marybeth Csaby
+1-212-896-1236
mcsaby@kcsa.com
both of KCSA Worldwide
ACEL 2.28 In Vitro and In Vivo Data Show Alfacell's ONCONASE(R) is Active Against Naive and Chemoresistant Neuroblastoma Cells
Pre-Clinical Results Demonstrate Potential of ONCONASE for Treatment of Neuroblastoma
Jun 27, 2007 8:30:00 AM
BLOOMFIELD, N.J., June 27 /PRNewswire-FirstCall/ -- Alfacell Corporation (Nasdaq: ACEL) today announced that new data show ONCONASE, the company's lead drug candidate, is active against naive and chemoresistant neuroblastoma cells.
The pre-clinical in vitro and in vivo data published in Cancer Letters (2007; Vol. 250, Issue 1: 107-116) through a collaboration between Alfacell and Martin Michaelis, M.D., Ph.D., at the Institute of Medicinal Virology at Johann Wolfgang University of Frankfurt, were also recently presented in Germany.
Conclusions from the studies presented indicate that ONCONASE inhibits neuroblastoma cell growth and induces caspase-independent cell death in neuroblastoma cells independently of P-gp expression or p53 status, which has been shown to contribute to multi-drug resistance in neuroblastoma as well as most other human cancers. Transmission electronic microscope investigations suggest that ONCONASE induces a process in neuroblastoma cells called autophagy (the digestion of cellular constituents by enzymes of the same cell), which leads to apoptosis (programmed cell death). Anti-tumor activity of ONCONASE against drug-sensitive and chemoresistant neuroblastoma xenografts was confirmed in animals.
"The data speak to the broad potential application for ONCONASE in various types of cancer other than the gateway indication for mesothelioma," said Kuslima Shogen, Alfacell's chairman and chief executive officer. "We now have an even better understanding of the mechanism of action that ONCONASE utilizes in overcoming multiple drug resistance in various tumor types."
Neuroblastoma is a cancer that forms in the nerve tissue. It is the most common cancer in infants, and the fourth most common type of cancer in children. Neurons (nerve cells) are the main components of the brain and spinal cord and of the nerves that connect them to the rest of the body. Approximately one in 100,000 children develops neuroblastoma in the United States.
About ONCONASE(R)
ONCONASE is a first-in-class therapeutic product candidate based on Alfacell's proprietary ribonuclease (RNase) technology. A natural protein isolated from the leopard frog, ONCONASE has been shown in the laboratory and clinic to target cancer cells while sparing normal cells. ONCONASE triggers apoptosis, the natural death of cells, via multiple molecular mechanisms of action.
About Alfacell Corporation
Alfacell Corporation is the first company to advance a biopharmaceutical product candidate that works in a manner similar to RNA interference (RNAi) through late-stage clinical trials. The product candidate, ONCONASE, is an RNase that overcomes the challenges of targeting RNA for therapeutic purposes while enabling the development of a new class of targeted therapies for cancer and other life-threatening diseases. In addition to an ongoing Phase IIIb study in malignant mesothelioma, Alfacell is conducting a Phase I/II trial of ONCONASE in non-small cell lung cancer (NSCLC) and other solid tumors. For more information, visit www.alfacell.com.
Safe Harbor
This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, uncertainties involved in transitioning from concept to product, uncertainties involving the ability of the company to finance research and development activities, potential challenges to or violations of patents, uncertainties regarding the outcome of clinical trials, the company's ability to secure necessary approvals from regulatory agencies, dependence upon third-party vendors, and other risks discussed in the company's periodic filings with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Media Contact: Investor Contact:
David Schull or Wendy Lau Andreas Marathovouniotis
Russo Partners Russo Partners
212-845-4271 212-845-4253
david.schull@russopartnersllc.com andreas.marathis@russopartnersllc.com
wendy.lau@russopartnersllc.com
SOURCE Alfacell Corporation
----------------------------------------------
Media: David Schull
david.schull@russopartnersllc.com
or Wendy Lau
wendy.lau@russopartnersllc.com
+1-212-845-4271; Investors: Andreas Marathovouniotis
+1-212-845-4253
andreas.marathis@russopartnersllc.com
all of Russo Partners for Alfacell Corporation
UNCL 6.72 MRU Holdings, Inc. Announces Pricing of $200 Million Securitization of Private Student Loan Portfolio
Jun 27, 2007 8:30:00 AM
NEW YORK, June 26 /PRNewswire-FirstCall/ -- MRU Holdings Inc. (Nasdaq: UNCL), a specialty finance company that provides federal and private student loans through its consumer brand MyRichUncle(TM), today announced the pricing of a securitization involving the purchase of direct-to-consumer private student loans by MRU Student Loan Trust 2007-A (the Trust) and the related issuance of student loan asset-backed notes by the Trust to qualified institutional buyers.
The Trust expects to issue approximately $200 million in principal amount of asset-backed securities on or about June 28, 2007. The Trust proceeds raised will be used to fund the purchase of private student loans from the Company's existing loan portfolio in the quarter ended June 30, 2007, and to make additional purchases of loans subsequent to closing, as necessary. The Company expects to announce residual revenue related to this transaction shortly after closing.
This press release does not constitute an offer or the solicitation of an offer for the purchase or sale of any securities. The securities have not been, nor will they be, registered with the Securities and Exchange Commission under the Securities Act of 1933. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The asset-backed securities will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act pursuant to a private placement memorandum and will not be made available to the general public.
About MRU Holdings, Inc.
MRU Holdings, Inc. (Nasdaq: UNCL) is a publicly traded specialty finance company that provides students with funds for higher education using a blend of current market credit practices as well as its own proprietary analytic models and decision tools. The Company has a renowned brand name "MyRichUncle(TM)" and highly scalable origination infrastructure. The Company utilizes these assets to provide private and federal loans to students. MRU distinguishes itself from the competition as it does not take a "one-size fits all" approach to designing student loan products, allowing itself and its marketing partners to create a student loan offering that directly addresses their specific customer needs. Additional information concerning MRU Holdings is available at http://www.MRUHoldings.com.
About MyRichUncle
From its inception in 2000, MyRichUncle has been at the forefront of innovation for education finance, most recently focusing on the growth market of student loans. Since May of 2005, MyRichUncle has originated more than $175 million private and federal student loans using its breakthrough underwriting platforms and innovative technology to deliver competitively priced products and services to borrowers. In May 2006, the Company launched Preprime(TM), the first and only student loan that allows students to qualify for loans based on individual merit, rather than credit history alone. In June 2006, MyRichUncle launched its Federal student loans with upfront interest rate reductions at repayment. Dedicated to reshaping the student loan industry to function in the best interests of the students, founders Vishal Garg and Raza Khan and their team are committed to delivering the most innovative solutions for their customers. The Company and its founders have been recognized by Fast Company's Fast 50 (2006) and listed among BusinessWeek.com's Tech's Best Young Entrepreneurs (2006). For more information, visit http://www.myrichuncle.com.
Safe Harbor Statement
The information provided herein regarding the planned purchase of private student loan by the MRU Student Loan Trust 2007-A (the Trust) and the related issuance of student loan asset-backed notes, including statements regarding the size, timing, and structure of the planned transaction, as well as any other statements that are not purely historical, may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future results, plans, estimates or expectations contemplated by us will be achieved. Such forward-looking statements involve known and unknown risks and uncertainties that, if realized, could cause the terms of the actual transaction, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such factors include investor response to the offering of the asset-backed securities, including the structure of the offering, conditions in the financial markets, variance between the estimated and actual amount of private student loans available for purchase, satisfaction of closing conditions related to the purchase of private student loans and issuance of student loan asset-backed securities by the MRU Student Loan Trust 2007-A. The Company cautions that certain important factors may have affected and could in the future affect the Company's beliefs and expectations, and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. These forward-looking statements are based on our plans, estimates and expectations as of June 26, 2007 and the Company does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements as a result of developments occurring after the date of this press release.
Investor Inquiries: Media Inquiries:
Denise Gillen Karin Pellmann
Vice President of Investor Relations Vice President of Public Relations
212-836-4165 212-444-7541
dgillen@mruholdings.com kpellman@mruholdings.com
SOURCE MRU Holdings, Inc.
----------------------------------------------
Investors: Denise Gillen
Vice President of Investor Relations
+1-212-836-4165
dgillen@mruholdings.com
or Media: Karin Pellmann
Vice President of Public Relations
+1-212-444-7541
kpellman@mruholdings.com
both of MRU Holdings
Inc.
NAVI 7.81 America's Job Exchange to Usher in New Era
Career Management Portal Steps in to Succeed America's Job Bank Upon Its Closure
Jun 27, 2007 8:30:00 AM
ANDOVER, MA -- (MARKETWIRE) -- 06/27/07 -- America's Job Exchange (www.americasjobexchange.com), powered by NaviSite, Inc. (NASDAQ: NAVI), today announced that its online job board continues to generate excitement among job seekers and employers as the U.S. Department of Labor's America's Job Bank (AJB) nears dissolution on June 30. Launched by the original developers and operators of AJB since its inception in 1995, America's Job Exchange (AJE) is the logical successor for providing the preeminent one- stop source for online job search, career expertise, and job postings for job seekers and employers.
More than 1,000 large employers and several states are migrating their job postings to America's Job Exchange. As AJB shuts down this week, those who relied on the site are now turning to America's Job Exchange (www.americasjobexchange.com) to take advantage of this trustworthy, one-stop career management portal. America's Job Exchange offers a truly unique experience with easy to use job search and posting functions and all the same free services as AJB -- plus multiple enhancements and an ambitious expansion plan for the future.
"We're committed to making the transition to America's Job Exchange as smooth as possible for employers and job seekers who have come to rely on AJB," said Denis Martin, Executive Vice President and Chief Technology Officer at NaviSite. "Our experience and track record in the online job search market assure users that America's Job Exchange is uniquely qualified to fill the void that will be left by AJB."
America's Job Exchange will offer the same broad portfolio of services, ease of use, and dependability that users enjoyed with the AJB site, which reached more than 7,000,000 job seekers, 475,000 employers and housed more than 2,000,000 job postings. In addition, America's Job Exchange will continue enabling employers to meet Office of Federal Contract Compliance Programs requirements, while job seekers will benefit from free access to thousands of jobs from government, non-profit, and large and small employers in their local areas and nationally.
In the coming months, America's Job Exchange plans to introduce value-added services such as resume writing, continuing education, personality tests, salary information, and other highly-relevant content to help job seekers achieve and exceed their career goals. AJE is also planning to introduce a series of enhanced services for employers, including premium placement for sponsored jobs, employer branding services, searchable resume databases, background checks, and other valuable capabilities designed to help employers find the best candidates for their jobs.
America's Job Exchange welcomes employers and job seekers to visit the site and take advantage of its comprehensive capabilities by signing up at www.americasjobexchange.com.
About America's Job Exchange
America's Job Exchange is the online job search and posting site based upon the technology and user experience that NaviSite developed and delivered while operating America's Job Bank since its inception in 1995. America's Job Exchange builds upon the comprehensive functionality that AJB users found indispensable, while offering additional, enhanced features, and a simpler user experience for employers and job seekers. Employers enjoy AJE's simple posting capabilities, access to a broad base of job seekers, and support for federal compliance requirements, while job seekers take advantage of AJE's fast and easy search functions and valuable career management tools. America's Job Exchange is the one-stop online job board that promises to "Change your World." For more information, please visit: www.americasjobexchange.com.
About NaviSite
NaviSite is a leading provider of application solutions, hosting and content delivery services for mid market companies. With over 1,000 customers in 14 data centers; offices in the US, UK and India; NaviSite is the partner of choice for outsourcing enterprise applications and related technology services to drive IT Efficiency and Effectiveness. NaviSite delivers a unique combination of application implementation and management, hosting, and content delivery services to provide full lifecycle support for today's industry leaders. For more information, please visit www.navisite.com.
All logos, company and product names may be trademarks or registered trademarks of their respective owners.
Contacts:
Amber Blaha
NaviSite, Inc.
978.946.8647
Email Contact
Gretchen Bender
Greenough Communications
617.275.6526
Email Contact
II 4.34 Ivivi Technologies Receives CE Approval for Certain of its Electrotherapy Devices
Jun 27, 2007 8:30:00 AM
Copyright Business Wire 2007
NORTHVALE, N.J.--(BUSINESS WIRE)--
Ivivi Technologies, Inc. (AMEX:II), a leader in non-invasive, electrotherapeutic technologies, today announced that it has received CE Mark certification for the commercial distribution of certain of its patented electrotherapy devices, in the member countries of the European Union, for use in the promotion of wound healing, reduction of pain and post operative edema.
"Obtaining the CE approval is a significant milestone for our company in our efforts to commercialize our non-invasive electrotherapeutic technology throughout Europe," commented Andre DiMino, Co-CEO, Ivivi Technologies. "It supports our strategy of establishing channel partnerships with global medical device and healthcare companies."
Ivivi's electrotherapy devices consist of a signal generator and applicator and are programmed to provide therapy at optimal intervals throughout the course of therapy. As previously announced, a recent study conducted at Akademikliniken Hospital in Stockholm, Sweden by Dr. Per Heden, an internationally-recognized plastic surgeon and researcher, reinforced clinical data that shows the ability of Ivivi's technology to enhance post-surgical pain management. Preliminary data from a randomized double-blind, placebo-controlled clinical study entitled "Effect of Pulsed Electromagnetic Fields ("PEMF") on Post-Surgical Pain Reduction for Breast Augmentation" showed an 80% acceleration in pain relief in patients treated with the active technology as compared to patients treated with placebo units.
About Ivivi Technologies, Inc.
Based in Northvale, NJ, Ivivi Technologies, Inc. is a medical technology company focusing on designing, developing and commercializing its proprietary electrotherapeutic technology platform. Ivivi's research and development activities are focused specifically on pulsed electromagnetic field, or PEMF, technology, which, by creating a therapeutic electrical current in injured soft tissue, stimulates biochemical and physiological healing processes to help repair the injured tissue and reduce related pain and inflammation. The Company's Electroceuticals(TM) have been used in non-invasive treatments for a wide array of conditions, including chronic wounds, pain and edema following plastic and reconstructive surgery and chronic inflammatory disorders.
Forward-Looking Statements
This release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the statements related to the preliminary data discussed above. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the Company's limited operating history, history of significant and continued operating losses and substantial accumulated earnings deficit, difficulties with its financial accounting controls, the failure of the market for the Company's products to continue to develop, the inability for customers to receive third party reimbursement, the inability to obtain additional capital, the inability to protect the Company's intellectual property, the loss of any executive officers or key personnel or consultants, competition, changes in the regulatory landscape or the imposition of regulations that affect the Company's products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's registration statement on Form SB-2. The Company assumes no obligation to update the information contained in this press release.
Source: Ivivi Technologies, Inc.
----------------------------------------------
Cameron Associates
Investor Relations:
Alison Ziegler or Lester Rosenkrantz
212-554-5469
Alison@cameronassoc.com
or
Media:
Deanne Eagle
212-554-5463
Deanne@cameronassoc.com
or
Public Relations:
Avalanche Strategic Communications
Denyse Dabrowski
201-488-0049
Mobile: 201-916-7122
Denyse@avalanchepr.com
DANKY 1.10 Danka Reports Fourth Quarter, Fiscal 2007 Results
Narrows Net Loss
Jun 27, 2007 8:30:00 AM
Copyright Business Wire 2007
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--
Danka Business Systems PLC (NASDAQ:DANKY) today reported that it had narrowed its net loss to $29.2 million for the fiscal year ended March 21, 2007, compared to a loss of $85.2 million in fiscal 2006. Revenues were $450.2 million in 2007, versus $522.4 million a year ago.
As previously reported, on January 31, 2007 the Company completed the sale of its European operations to Ricoh Europe B.V. For the fiscal year and fourth quarter ending March 31, 2007, European operations are included in the results from discontinued operations.
On June 25, 2007, the Company completed a new financing arrangement for $145 million in term and revolver debt that, together with the proceeds from the sale to Ricoh of the European operations, will be used to repay existing debt and enhance working capital.
The Company also successfully remediated its last material weakness under Section 404 of the Sarbanes Oxley Act and will be disclosing that it does not have any material weaknesses.
For the full year ended March 31, 2007:
-- Total revenue from continuing operations was $450.2 million,
down 13.8% from the prior year. Retail equipment, supplies and
related sales were $200.1 million, down 18.7% from 2006, while
service revenue was $236.1 million, down 9.1% from 2006.
-- Consolidated gross margin was 34.6%, up 40 basis points from
the prior year.
-- SG&A expenses were $159.5 million, down $43.7 million or
21.5%, versus 2006.
-- For the year, the Company incurred a $13.0 million operating
loss from continuing operations. This included a $2.5 million
loss on the sale of a subsidiary recorded in the first
quarter, and a $6.0 million restructuring charge recorded
primarily in the second quarter.
-- Net interest expense was $35.2 million, up $5.7 million from
the prior year as a result of the acceleration of unamortized
bond discount and issuance costs in anticipation of the new
financing arrangement. As a result of the sale of its European
operations in Q4, as well as the sale of its Australian
operations in Q2, the Company reported earnings from
discontinued operations of $9.3 million and a gain on the sale
of discontinued operations of $10.2 million for the year.
-- The Company reported a net loss of $29.2 million as compared
to an $85.2 million loss in the prior year.
"From a financial perspective, fiscal 2007 was about fixing the Company's liquidity and capital structure," commented Edward K. Quibell, Danka Chief Financial Officer. "While there is still work to be done, the progress achieved to date goes a long way toward completing the successful turnaround of the Company."
Mr. Quibell also noted that adjusted operating earnings from continuing operations improved by $19 million -- on reduced revenue of $72 million. This was accomplished by removing unprofitable businesses and controlling costs.
For the fourth quarter:
-- Total revenue was $113.5 million, 11.2% lower than the prior
year quarter, but up 7.5% sequentially. Retail equipment,
supplies and related sales were $52.7 million for the quarter,
down 15.2% from the prior year, but up 16.4% sequentially.
Service revenue was $57.7 million, down 7.8% from the prior
year, but up 0.4% sequentially.
-- Consolidated gross margin for the quarter was 32.7%, up 180
basis points from the prior year, but down 120 basis points
from the prior quarter.
-- SG&A expenses were $38.1 million, down 25.1% from the prior
year and down 12.4% sequentially.
-- For the quarter, the Company generated a $3.0 million
operating loss from continuing operations.
-- Net interest expense was $12.9 million, loss from discontinued
operations was $2.0 million and income tax expense was $0.7
million. With the finalization of the sale of the Company's
European operations to Ricoh, Danka recorded a gain of $65.9
million which was offset by the write-off of $64.0 million in
currency translation adjustment in the remaining companies.
"While these results are important," said A.D. Frazier, Danka Chairman and Chief Executive Officer, "it is imperative to recognize that the Danka enterprise of today is significantly changed from the company I joined a little more than a year ago. Fiscal 2007 is a watershed year in which the Company rationalized its business structure, strengthened its balance sheet, and enhanced its competitive position.
"Danka is now leaner, far more flexible and primed to grow," Mr. Frazier continued. "Our prospects for the future are dramatically better now than they have been in a very long time. In particular, I am encouraged by the traction we have gained in equipment sales. Q4 was the highest quarter of the year. This is not surprising; we have increased the number of sales representatives and invested in extensive training to support our consultative selling approach."
Mr. Frazier added that service revenue remains stable. "We have a few more changes to make in our cost structure and our capital structure, yet I am confident that our customers will see a continually improving Danka," he concluded.
Conference Call Scheduled
A conference call to discuss Danka's fourth quarter and fiscal year 2007 results is scheduled for today, June 27, 2007, at 10:00 a.m. ET. To participate in the conference call, please dial in five-to-ten minutes prior to the start of the call and follow the operator's instructions. U.S. and Canada callers: please dial 800-309-1555. International callers: please dial 706-643-7754. Reference conference ID #4651644 when prompted.
A replay of the call will be available approximately two hours after the call ends. U.S. and Canada callers: dial 800-642-1687. International callers: dial 706-645-9291. Reference conference ID #4651644 when prompted. This playback will be available through 12:00 a.m. ET on July 3, 2007.
About Danka
Danka delivers value to clients by using its expert technical and professional services to implement effective document information solutions. As one of the largest independent providers of enterprise imaging systems and services, the Company enables choice, convenience, and continuity. Danka's vision is to empower customers to benefit fully from the convergence of image and document technologies in a connected environment. This approach will strengthen the Company's client relationships and expand its strategic value. For more information, visit Danka at www.danka.com.
Certain statements contained herein, or otherwise made by our officers, including statements related to our future performance and our outlook for our businesses and respective markets, projections, statements of our plans or objectives, forecasts of market trends and other matters, are forward-looking statements, and contain information relating to us that is based on our beliefs as well as assumptions, made by, and information currently available to us. The words "goal", "anticipate", "expect", "believe", "could", "should", "intend" and similar expressions as they relate to us are intended to identify forward-looking statements, although not all forward looking statements contain such identifying words. No assurance can be given that the results in any forward-looking statement will be achieved. For the forward-looking statements, we claim the protection of the safe harbor for forward-looking statements provided for in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those reflected in the forward-looking statements. Factors that might cause such actual results to differ materially from those reflected in any forward-looking statements include, but are not limited to, the following: (i) any inability to successfully implement our strategy; (ii) any inability to successfully implement our cost restructuring plans to achieve and maintain cost savings; (iii) any inability to comply with the Sarbanes-Oxley Act of 2002; (iv) any material adverse change in financial markets, the economy or in our financial position; (v) increased competition in our industry and the discounting of products by our competitors; (vi) new competition from non-traditional competitors as the result of evolving and converging technology; (vii) any inability by us to procure, or any inability by us to continue to gain access to and successfully distribute current and new products, including digital products, color products, multi-function products and high-volume copiers, or to continue to bring current products to the marketplace at competitive costs and prices; (viii) any inability to arrange financing for our customers' purchases of equipment from us; (ix) any inability to successfully enhance, unify and effectively utilize our management information systems; (x) any inability to access vendor or bank lines of credit, which could adversely affect our liquidity; (xi) any inability to record and process key data due to ineffective implementation of business processes and policies; (xii) any negative impact from the loss of a key vendor or customer; (xiii) any negative impact from the loss of any of our senior or key management personnel; (xiv) any change in economic conditions in markets where we operate or have material investments which may affect demand for our products or services; (xvv) any incurrence of tax liabilities or tax payments beyond our current expectations, which could adversely affect our liquidity and profitability; (xvi) any inability to comply with our new senior secured credit facility covenants, financial or other representations, warranties, or maturities in our debt instruments; (xvii) any delayed or lost sales or other impacts related to the commercial and economic disruption caused by natural disasters, including hurricanes; (xviii) any delayed or lost sales and other impacts related to the commercial and economic disruption caused by terrorist attacks, the related war on terrorism, and the fear of additional terrorist attacks; (xix) any negative impact of the accreted value of our outstanding preferred stock and its continued accretion; (xx) any negative impact from our continued organization as an England and Wales registered Company following the sale of our European businesses; and (xxi) other risks including those risks identified in any of our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our analysis only as of the date they are made. Except as required by applicable law, we undertake no obligation, and do not intend, to update these forward-looking statements to reflect events or circumstances that arise after the date they are made. Furthermore, as a matter of policy, we do not generally make any specific projections as to future earnings, nor do we endorse any projections regarding future performance, which may be made by others outside our Company.
United Kingdom Companies Act: The financial information contained in this announcement for the quarter ended March, 2007 is unaudited and does not constitute full statutory accounts within the meaning of Section 240 of the United Kingdom Companies Act 1985.
This press release contains information regarding adjusted operating earnings (loss) that is computed as operating earnings from continuing operations before restructuring and a loss on sale of subsidiary; free cash flow that is computed as net cash provided by (used in) operating activities less capital expenditures plus proceeds from the sale of property and equipment and subsidiaries; net debt that is computed as current maturities of long-term debt and notes payable plus long-term debt and notes payable less cash and cash equivalents and restricted cash; adjusted operating expenses that is computed as total operating expenses before restructuring charge and a loss on sale of subsidiary; and adjusted basic net earnings (loss) available to common shareholders per ADS that is computed as net earnings (loss) divided by weighted average basic ADSs (without taking into account dividends and accretion on participating shares). These measures are non-GAAP financial measures, defined as numerical measures of our financial performance that exclude or include amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles, or GAAP in our statement of operations, balance sheet or statement of cash flows. Pursuant to the requirements of Regulation G, we have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures.
Although adjusted operating earnings (loss), free cash flow, net debt, adjusted operating expenses and adjusted basic net earnings (loss) available to common shareholders per ADS represent non-GAAP financial measures, we consider these measures to be key operating metrics of our business. We use these measures in our planning and budgeting processes, to monitor and evaluate our financial and operating results and to measure performance of our separate divisions. We also believe that adjusted operating earnings (loss), free cash flow, net debt, adjusted operating expenses and adjusted basic net earnings (loss) available to common shareholders per ADS are useful to investors because they provide an analysis of financial and operating results using the same measures that we use in evaluating the Company. We expect that such measures provide investors with the means to evaluate our financial and operating results against other companies within our industry. We believe that these measures are meaningful to investors in evaluating our ability to meet our future debt service requirements and to fund our capital expenditures and working capital requirements. Our calculation of adjusted operating earnings (loss), free cash flow, net debt, adjusted operating expenses and adjusted basic net earnings (loss) available to common shareholders per ADS may not be consistent with the calculation of these measures by other companies in our industry. Adjusted operating earnings (loss), free cash flow, net debt, adjusted operating expenses and adjusted basic net earnings (loss) available to common shareholders per ADS are not measurements of financial performance under GAAP and should not be considered as an alternative to net earnings (loss) as an indicator of our operating performance or cash flows from operating activities as a measure of liquidity or any other measures of performance derived in accordance with GAAP.
Danka is a registered trademark and Danka @ the Desktop and TechSource are trademarks of Danka Business Systems PLC. All other trademarks are the property of their respective owners.
Danka Business Systems PLC
Consolidated Condensed Statements of Operations for the Three and Nine
Months Ended March 31, 2007 and 2006
(In thousands, except per American Depositary Share ("ADS") amounts)
(Unaudited)
Three months ended Twelve months ended
March 31 March 31
------------------- --------------------
2007 2006 2007 2006
Revenue:
Retail equipment, supplies and
related sales $52,740 $62,185 $200,141 $246,315
Retail service 57,711 62,621 236,073 259,695
Rentals 3,055 2,994 13,990 16,389
--------- --------- ---------- ---------
Total revenue 113,506 127,800 450,204 522,399
--------- --------- ---------- ---------
Cost of sales:
Retail equipment, supplies and
related sales costs 36,668 46,382 142,148 174,635
Retail service costs 38,422 40,290 147,980 161,770
Rental costs, including
depreciation on rental assets 1,322 1,627 4,436 7,366
--------- --------- ---------- ---------
Total cost of sales 76,412 88,299 294,564 343,771
--------- --------- ---------- ---------
Gross profit 37,094 39,501 155,640 178,628
Operating expenses:
Selling, general and
administrative expenses 38,117 50,883 159,510 203,168
Restructuring charges 280 2,018 6,037 5,161
Loss on sale of subsidiary - - 2,513 -
Other expense (income) 1,740 1,295 614 (1,295)
--------- --------- ---------- ---------
Total operating expenses 40,137 54,196 168,674 207,034
--------- --------- ---------- ---------
Operating earnings (loss)
from continuing
operations (3,043) (14,695) (13,034) (28,406)
Interest expense (12,905) (7,499) (35,212) (29,534)
Interest income 1,539 -- 1,671 --
--------- --------- ---------- ---------
Earnings (loss) from
continuing operations
before income taxes (14,409) (22,194) (46,575) (57,940)
Provision (benefit) for income
taxes 654 9 2,150 (8,635)
--------- --------- ---------- ---------
Earnings (loss) from
continuing operations (15,063) (22,203) (48,725) (49,305)
Earnings (loss) from
discontinued operations, net
of tax (2,515) 144 9,305 (4,356)
Gain (loss) on sale of
discontinued operations, net
of tax 472 (1,229) 10,181 (31,551)
--------- --------- ---------- ---------
Net earnings (loss) $(17,106) $(23,288) $(29,239 ) $(85,212)
========= ========= ========== =========
Net earnings (loss) available
to common shareholders:
Net earnings (loss) from
continuing operations $(15,063) $(22,203) $(48,725) $(49,305)
Dividends and accretion on
participating shares (5,869) (5,521) (22,946) (21,635)
--------- --------- ---------- ---------
Net earnings (loss) from
continuing operations
available to common
shareholders $(20,932) $(27,724) $(71,671) $(70,940)
========= ========= ========== =========
Basic and diluted net earnings
(loss) available to common
shareholders per ADS:
Net earnings (loss) from
continuing operations $(0.32) $(0.43) $ (1.11) $ (1.11)
Net earnings (loss) from
discontinued operations (0.03) (0.02) 0.30 (0.56)
--------- --------- ---------- ---------
Basic net earnings (loss) $(0.35) $(0.45) $(0.81) $(1.67)
--------- --------- ---------- ---------
Weighted average basic ADSs 64,720 64,130 64,363 63,865
========= ========= ========== =========
Danka Business Systems PLC
Consolidated Condensed Balance Sheets as of March 31, 2007 and 2006
(In thousands except per share data)
March 31, March 31,
2007 2006
----------- ----------
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $17,594 $24,467
Restricted cash 163,979 6,119
Accounts receivable, net of allowances 44,180 63,332
Inventories 31,681 37,019
Assets held for sale - discontinued
operations - 341,797
Prepaid expenses, deferred income taxes and
other current assets 17,607 10,780
----------- ----------
Total current assets 275,041 483,514
Equipment on operating leases, net 9,241 5,142
Property and equipment, net 22,637 30,953
Goodwill 93,489 94,505
Other intangible assets, net of accumulated
amortization 554 1,861
Other assets 16,086 16,661
----------- ----------
Total assets $417,048 $632,636
=========== ==========
Liabilities and shareholders' equity (deficit)
Current liabilities:
Current maturities of long-term debt and
notes payable $186,078 $11,265
Accounts payable 66,231 87,671
Accrued expenses and other current
liabilities 45,830 52,483
Taxes payable 8,468 3,920
Liabilities held for sale - discontinued
operations - 199,930
Deferred revenue 5,875 15,067
----------- ----------
Total current liabilities 312,482 370,336
Long-term debt and notes payable, less current
maturities 65,215 238,002
Deferred income taxes and other long-term
liabilities 11,271 13,989
----------- ----------
Total liabilities 388,968 622,327
----------- ----------
6.5% senior convertible participating shares 344,487 321,541
Shareholders' equity (deficit):
Ordinary shares, 1.25 pence stated value 5,386 5,330
Additional paid-in capital 330,587 329,745
Accumulated deficit (652,380 ) (600,195 )
Accumulated other comprehensive loss,
related to discontinued operations - (46,112 )
----------- ----------
Total shareholders' equity (deficit) (316,407 ) (311,232 )
----------- ----------
Total liabilities and shareholders' equity
(deficit) $417,048 $632,636
=========== ==========
Danka Business Systems PLC
Consolidated Condensed Statements of Cash Flows for the Twelve Months
Ended March 31, 2007 and 2006
(In thousands)
(Unaudited)
Twelve Months Ended
March 31,
--------------------
2007 2006
---------- ---------
Operating activities:
Net earnings (loss) $(29,239) $(85,212)
(Earnings) loss from discontinued operations (19,486) 35,907
---------- ---------
Earnings (loss) from continuing operations (48,725) (49,305)
Adjustments to reconcile net earnings (loss) to
net cash provided by (used in) operating
activities:
Depreciation and amortization 15,265 19,937
Deferred income taxes 1,476 1,408
Amortization of debt issuance costs 7,472 1,761
Non-cash stock-based compensation 530 227
(Gain) loss on sale of property & equipment
and equipment on operating leases (164) 2,000
Proceeds from sale of equipment on operating
leases 362 174
Restructuring charges 6,037 5,161
Loss on sale of subsidiary, net of cash 2,103 --
Changes in net assets and liabilities:
Restricted cash -- 2,352
Accounts receivable 18,564 17,956
Inventories 5,102 (1,725)
Prepaid expenses and other current assets 6,338 (955)
Other non-current assets (4,266) 8,089
Accounts payable (20,814) 6,533
Accrued expenses and other current
liabilities (3,521) (30,963)
Deferred revenue (9,017) (568)
Other long-term liabilities (2,684) (16,079)
---------- ---------
Net cash provided by (used in)
continuing operating activities (25,942) (33,997)
Net cash provided by (used in)
discontinued operating activities (5,799) (3,445)
---------- ---------
Net cash provided by (used in)
operating activities (31,741) (37,442)
---------- ---------
Investing activities:
Capital expenditures (11,450) (5,596)
Proceeds from sale of discontinued operations,
net of cash 170,229 16,924
Restricted cash (167,500) --
Proceeds from the sale of property and
equipment 203 3
---------- ---------
Net cash provided by (used in)
continuing investing activities (8,518) 11,331
Net cash provided by (used in)
discontinued investing activities (5,088) (7,602)
---------- ---------
Net cash provided by (used in)
investing activities (13,606) 3,729
---------- ---------
Financing activities:
Borrowings under line of credit agreements 56,539 53,079
Payments under line of credit agreements (56,228) (43,393)
Payments under capital lease arrangements (1,134) (1,708)
Proceeds from stock options exercised 368 419
Excess tax benefit from stock options
exercised 439 --
Restricted cash 5,000 --
---------- ---------
Net cash provided by (used in)
continuing financing activities 4,984 8,397
Net cash provided by (used in)
discontinued financing activities (242) (597)
---------- ---------
Net cash (used in) provided by
financing activities 4,742 7,800
---------- ---------
Effect of exchange rates 3,645 (2,693)
---------- ---------
Net decrease in cash and cash
equivalents (36,960) (28,606)
Cash and cash equivalents from continuing
operations, beginning of period 24,467 33,678
Cash and cash equivalents from discontinued
operations, beginning of period 30,087 49,482
Cash and cash equivalents from discontinued
operations, end of period -- (30,087)
---------- ---------
Cash and cash equivalents from continuing
operations, end of period $17,594 $24,467
========== =========
Danka Business Systems PLC
Adjusted operating earnings (loss) from continuing operations for the
three and twelve months ended March 31, 2007 and 2006
(In Thousands)
(Unaudited)
For the Three For the Twelve
Months Ended Months Ended
March 31, March 31, March 31, March 31,
2007 2006 2007 2006
--------- --------- --------- ---------
Operating earnings (loss) from
continuing operations $(3,043) $(14,695) $(13,034) $(28,406)
Restructuring charges 280 2,018 6,037 5,161
Loss on sale of subsidiary --- --- 2,513 ---
--------- --------- --------- ---------
Adjusted operating earnings
from continuing operations $(2,763) $(12,677) $(4,484) $(23,245)
========= ========= ========= =========
Danka Business Systems PLC
Free cash flow for the twelve months ended March 31, 2007 and 2006
(In Thousands)
(Unaudited)
For the Twelve
Months Ended
March 31, March 31
2007 2006
--------- ---------
Net cash provided by (used in)
continuing operations $(25,942) $(33,997)
Capital expenditures (11,450) (5,596)
Proceeds from sale of
subsidiary 170,229 16,924
Restricted cash (167,500) --
Proceeds from sale of property
and equipment 203 3
--------- ---------
Free cash flow $(34,460) $(22,666)
========= =========
Danka Business Systems PLC
Net Debt as of March 31, 2007 and 2006
(In Thousands)
(Unaudited)
March 31, March 31,
2007 2006
--------- ---------
Current maturities of long-
term debt and notes payable $186,078 $11,265
Long-term debt and notes
payable 65,215 238,002
Less: Cash and cash
equivalents and restricted
cash (181,573) (30,586)
--------- ---------
Net Debt $69,720 $218,681
========= =========
Danka Business Systems PLC
Adjusted basic net earnings (loss) available to common shareholders
per ADS
(In thousands, except per ADS)
(Unaudited)
For the Three For the Twelve
Months Ended Months Ended
March 31, March 31, March 31, March 31,
2007 2006 2007 2006
--------- --------- --------- ---------
Earnings (loss) from
continuing operations $(15,063) $(22,203) $(48,725) $(49,305)
Earnings (loss) from
discontinued operations (2,043) (1,085) 19,486 (35,907)
--------- --------- --------- ---------
Adjusted net earnings (loss)
available to common
shareholders $(17,106) $(23,288) $(29,239) $(85,212)
========= ========= ========= =========
Adjusted basic net earnings
(loss) available to common
shareholders per ADS $(0.26) $(0.36) $(0.45) $(1.33)
--------- --------- --------- ---------
Weighted average ADSs 64,720 64,130 64,363 63,865
========= ========= ========= =========
Source: Danka Business Systems PLC
----------------------------------------------
For Danka Business Systems PLC
St. Petersburg
The Dilenschneider Group
Rob Swadosh
212-922-0900 ext. 132
or
Danka Investor Relations
Danielle Eddings
727-622-2429
PNS 2.12 PDSi and Startronics Announce Strategic Partnership
Jun 27, 2007 8:30:00 AM
Copyright Business Wire 2007
COLUMBUS, Ohio--(BUSINESS WIRE)--
Pinnacle Data Systems, Inc. (PDSi) (AMEX:PNS) today announced a partnership with Israeli-based Startronics, a wholly owned subsidiary of STG International, Ltd., to jointly market and support PDSi products and services in Israel. Under the terms of the agreement, Startronics will represent and resell PDSi products in the Israeli market, as well as provide the first level of support for existing and new customers.
"Startronics' knowledge and expertise in the distribution and support of highly complex systems and components will be an asset in helping support existing and new customers locally in Israel," stated Michael Sayre, president and CEO of PDSi. "By partnering with Startronics, PDSi is continuing to expand its capabilities to provide the highest quality support for our customers on a global scale."
"Startronics is pleased to offer PDSi's products and services to the Israeli market," said Avner Arroyo, General Manager of Startronics. "PDSi provides a convenient outsource for programs that global OEMs would otherwise find difficult to support. We are looking forward to opening many doors in Israel for PDSi's unique and flexible solutions. Being a long term company in this market is a vital element in supporting PDSi's long life cycle solutions."
About PDSi
PDSi provides computer design, production, and repair services to original equipment manufacturers who build computers into their products in industries including medical equipment, telecommunications, defense and imaging. PDSi also helps major computer platform manufacturers respond to customer requirements for customized solutions and extended service life. PDSi specializes in areas where these OEMs often get little help from larger outsource firms, solving the challenges associated with complex technologies, low to medium volume production, and long-term service of third party products.
Not simply a repair depot or a contract manufacturer, PDSi represents a more collaborative and flexible outsourcing partner who helps its clients manage costs, meet unplanned demand changes, improve customer satisfaction, and respond aggressively to new trends in the technology market place. With its innovative and proactive staff of engineering, manufacturing, program management and supply chain specialists, PDSi tailors solutions that meet the particular business and operational needs of each OEM. For more information, visit the PDSi website at www.pinnacle.com.
About Startronics
STARTRONICS was founded in 1982 as a wholly owned subsidiary of STG International Ltd., one of the most established leading engineering and sales organizations in Israel, that has been in business for the past 40 years. Startronics was founded with the aim of establishing a very technical engineering core to deal with sophisticated, engineering-intense solutions. For more information, visit the Startronics website at http://www.startronics.co.il and STG's website at http://www.stggroup.co.il.
Source: Pinnacle Data Systems, Inc.
----------------------------------------------
Pinnacle Data Systems
Inc.
Rob Ellis
Director
Marketing
614-748-1115
rob.ellis@pinnacle.com
OPSW 9.28 Fusepoint Selects Opsware's End-to-End Data Center Automation Software Suite
Leading Managed Service Provider Standardizes on Opsware to Automate Lifecycle of Managing Servers and Network Devices
Jun 27, 2007 8:30:00 AM
Copyright Business Wire 2007
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Opsware Inc. (NASDAQ: OPSW), the leading provider of Data Center Automation software, today announced that Fusepoint, a prominent Canadian-based provider of outsourced IT services and infrastructure, selected Opsware to automate the complete lifecycle of its distributed server and network infrastructure. With multiple data centers running complex IT operations, Fusepoint demanded an end-to-end automation solution to maximize the efficiency of managing its mission-critical operations while cost effectively aligning itself with ITIL guidelines. Fusepoint selected Opsware based on the software's performance in a head-to-head evaluation against a number of direct competitors.
"Our strategic investment in Opsware's suite of data center automation software positions Fusepoint as a vanguard in the service provider industry by enabling us to deliver the most efficient, highest quality data center operations available," said George Kerns, President and CEO of Fusepoint. "Opsware's software dramatically surpasses other solutions based on its proven success and leadership in IT automation, the seamless integration of its products and breadth of capabilities. It was immediately clear that Opsware is the right solution that will allow Fusepoint to scale operations support and meet the continuing growth of our business, while enabling us to set the industry standard in customer satisfaction."
Fusepoint has based its reputation on the delivery of outstanding service to clients through each stage of their IT initiatives. Using Opsware's Server Automation System, Network Automation System, Process Automation System and Visual Application Manager, Fusepoint will gain complete visibility and control over its data center operations. Together, these products enable Fusepoint to automate patching, configuration management and compliance, while standardizing its environment in accordance with ITIL best practices.
"Opsware data center automation provides Fusepoint with a solid foundation for creating zero latency IT operations," said Mark Cranney, EVP of worldwide field operations at Opsware Inc. "The automation advancements Opsware provides will be instrumental in helping Fusepoint deliver superior performance and unprecedented uptime to customers - a hallmark of Fusepoint's business. Their selection of Opsware strengthens our footprint in the North American service provider market, demonstrating the immediate cost savings and long-term value automation brings to large-scale IT operations."
About Fusepoint Managed Services
Founded in 1999, Fusepoint is a privately held company with offices and data centres in Vancouver, Toronto, Montreal and Quebec City. Through our proven record of success we have built a loyal base of over 400 customers and strong, strategic relationships with Canada's leading technology and communication companies.
Fusepoint's managed IT solutions are SLA-guaranteed, scalable and designed to reduce cost structures while mitigating risk. Fusepoint is also SAS 70 Type II and CICA 5970 compliant, which means our processes are rigorously and continuously audited by an accredited third party and consistently operate at the highest levels within the industry.
www.fusepoint.com
About Opsware Inc. (NASDAQ: OPSW)
Opsware, the world's leading IT automation company, unlocks the promise of technology by accelerating IT to zero latency. The company's software, the Opsware System, automates the entire data center, from provisioning to patching, configuration to compliance and discovery to deployment, turning data center operations into a competitive advantage for business. Opsware's technology is used by hundreds of companies worldwide including banks, service providers, retailers, manufacturers and Internet companies with IT environments ranging from hundreds to tens of thousands of servers, network devices, storage devices and IT processes. For more information on Opsware Inc., please visit our Web site at www.opsware.com.
Opsware is a service mark and trademark of Opsware Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.
Source: Opsware Inc.
----------------------------------------------
Press:
Barokas PR for Opsware Inc.
Karli Overmier
+1 206-264-8220
karli@barokas.com
or
Fusepoint Managed Services
Roger Hamshaw
+1 905-363-3796
roger.hamshaw@fusepoint.com
or
Investor:
Opsware Inc.
Ken Tinsley
+1 408-212-5241
ktinsley@opsware.com
ASB 1.45 Ascendia Brands, Inc. Receives Notice of Amex Listing Agreement Violation
Jun 27, 2007 8:28:00 AM
Copyright Business Wire 2007
HAMILTON, N.J.--(BUSINESS WIRE)--
Ascendia Brands, Inc. (AMEX: ASB) today announced that it has received notification from the American Stock Exchange that it is not in compliance with the Exchange's continued listing standards, including specifically Sections 134 and 1101 of the Amex Company Guide, because of the Company's failure timely to file its Annual Report on Form 10-K for the fiscal year ended February 28, 2007. The Company had previously announced that it was unable to file Form 10-K by the specified date because it required additional time to complete its review of the complex accounting for changes to its convertible debt that occurred during its 2007 fiscal year.
In its letter dated June 25, 2007, the Exchange has requested that the Company submit, not later than July 25, 2007, the Company's plan to regain compliance with the Exchange's listing requirements. In addition, the Company is required to regain compliance no later than December 13, 2007.
The Company currently anticipates filing its Annual Report on Form 10-K no later than July 15, 2007.
About Ascendia Brands
Ascendia Brands, Inc. is a leader in the value and premium value segments of the health and beauty care products sector. In November 2005, Ascendia expanded its range of product offerings through the acquisition of a series of brands, including Baby Magic(R), Binaca(R), Mr. Bubble(R) and Ogilvie(R), and in February 2007 it acquired the Calgon(R) and Healing Garden(R) brands. The company is headquartered in Hamilton, New Jersey, and operates two manufacturing facilities, in Binghamton, New York, and Toronto, Canada.
Visit http://www.ascendiabrands.com for additional information.
Certain statements contained herein may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, 21E of the Exchange Act of 1934 and/or the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements regarding business plans, future regulatory environment and approval and, the Company's ability to comply with the rules and policies of independent regulatory agencies. Although the Company believes the statements contained herein to be accurate as of the date they were made, it can give no assurance that such expectations will prove to be correct. The Company undertakes no obligation to update these forward-looking statements.
Source: Ascendia Brands, Inc.
----------------------------------------------
Ascendia:
John D. Wille
Chief Financial Officer
609-219-0930 ext. 150
jwille@ascendiabrands.com
or
Investor Relations:
IMS
Inc.
John G. Nesbett
203-972-9200
jnesbett@institutionalms.com
IVAN 1.88 Ivanhoe Energy Successfully Completes Athabasca Bitumen Test
Jun 27, 2007 8:09:00 AM
Focus Increases on Heavy Oil Opportunities in Western Canada
BAKERSFIELD, CA, June 27 /CNW/ - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE) has successfully completed its key Athabasca bitumen test run at Ivanhoe Energy's Commercial Demonstration Facility (CDF) in California using its proprietary heavy oil upgrading technology (HTL(TM)). This test was an important step for Ivanhoe Energy's business development activities, as well as for the design of full-scale HTL facilities. This run represents the culmination of the CDF testing program carried out over the last two years.
"This successful Athabasca bitumen test is an important milestone for Ivanhoe Energy as we advance our commercial discussions in Western Canada," said Joe Gasca, Ivanhoe Energy's President and CEO. "The HTL process incorporates numerous advantages over conventional producing and upgrading approaches for heavy oil, and in Athabasca, all of our key benefits come into play: virtual elimination of viscosity, generation of significant amounts of on-site energy, and the capture of heavy-light price differentials, all in smaller-sized plants than conventional technologies."
This test run was carried out pursuant to a technology development agreement entered into in August 2000 between predecessors of Ivanhoe Energy and ConocoPhillips Canada Resources Corp. (ConocoPhillips Canada). ConocoPhillips Canada provided Ivanhoe Energy with the Athabasca bitumen. ConocoPhillips Canada has certain non-exclusive, capacity and time-specific rights to use the HTL technology in Canada.
The test run was witnessed by a third party engineering firm in preparation for the formalization of key investment banking relationships for Ivanhoe Energy.
The bitumen trial was a continuous multi-day run, and was successfully concluded when the feed tank was emptied. The trial demonstrated the processing of Athabasca bitumen in a continuum of HTL operating modes, ranging between the High Yield and High Quality configurations. This operational flexibility allows Ivanhoe Energy to match a commercial HTL facility to specific heavy oil field requirements. Ivanhoe Energy will use the information derived from the test for the design and development of full-scale commercial projects in Western Canada.
Dr. Robert Graham, Ivanhoe Energy's Chief Technology Officer said, "We are very pleased with the operational results of this trial. We had a flawless, continuous run, applying multiple HTL operating configurations, and all of our goals were achieved. We will now proceed with detailed product and data analysis, in accordance with our protocols with ConocoPhillips Canada."
Product samples generated using Ivanhoe Energy's recently installed Reaction Mixed Sampling (RMS) process have been sent to an independent lab for analysis. Information related to product characteristics will be released in due course as appropriate and as allowed under confidentiality agreements, together with other disclosable product information resulting from additional recent tests at the CDF.
This Athabasca test run is the first run carried out at the CDF that has focused on crude testing for HTL commercial project development purposes in Western Canada. Ivanhoe Energy is engaged in key commercial discussions with resource owners in Western Canada and this run is an important step in advancing those discussions.
Ivanhoe Energy's proprietary, patented heavy oil upgrading technology (HTL(TM)) produces lighter, more valuable crude oil from heavy oil and bitumen at lower costs and in smaller-sized plants than conventional technologies. The process also produces by-product energy that can be used to generate steam or electricity.
Conference Call
---------------
Ivanhoe Energy will host a conference call today for investors and analysts at 4:30 p.m. EDT (1:30 p.m. PDT) to discuss the successful completion of its key Athabasca bitumen test run. The conference call may be accessed by dialing toll-free 1-866-540-8136 in Canada and the United States, or 1-416-340-8010 in the Toronto area and internationally. A simultaneous webcast of the conference call will be provided through www.ivanhoeenergy.com and www.newswire.ca/webcast. If you are unable to participate in the call it will be archived for later playback by dialing 1-416-695-5800 and entering the pass code 3227459 followed by the number sign, or via www.ivanhoeenergy.com. The archived playback will be available until July 27, 2007.
Ivanhoe Energy is an independent international heavy oil development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTL(TM)). Core operations are in the United States and China, with business development opportunities worldwide. Ivanhoe Energy trades on the NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the potential benefits of Ivanhoe Energy's heavy oil upgrading technology, the potential for commercialization and future application of the heavy oil upgrading technology, and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions relating to matters that are not historical facts are forward-looking statements. Although Ivanhoe Energy believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the HTL process to upgrade heavy oil and bitumen may not be commercially viable, samples from the Athabasca bitumen test may not have the product qualities anticipated, market acceptance of the HTL technology may not be as anticipated, Ivanhoe Energy's lack of history in developing commercial HTL opportunities, competition and other risks disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on EDGAR and the Canadian Securities Commissions on SEDAR.
----------------------------------------------
Cindy Burnett
(604) 331-9830
Website: www.ivanhoe energy.com
ONT 3.05 On2 Technologies and ViewCast Announce Partnership to Bring Live Adobe(R) Flash(R) Video Solutions to Market
ViewCast licenses On2 Flix(R) live Flash video software for its media appliances
Jun 27, 2007 8:00:00 AM
TARRYTOWN, N.Y. and PLANO, Texas, June 27 /PRNewswire-FirstCall/ -- On2 Technologies, Inc. (AMEX: ONT), a leader in video-compression software and solutions, and ViewCast(R) Corporation (OTC Bulletin Board: VCST), a global leader in the design and manufacture of the world's most advanced media encoding products, announced today that ViewCast has licensed On2's live Flash video encoding technologies for integration with ViewCast's streaming media appliances.
As a result of this agreement, advanced real-time live capture, programming, and broadcasting capabilities for On2 VP6(TM) based Flash video will be available to programmers and broadcasters for Adobe(R) Flash(R) Player 8 and 9 using ViewCast's GoStream(TM) Plus and Niagara(R) Pro streaming media appliances. The integrated solution will offer customers enhanced capabilities to program, schedule, and manage live Flash broadcasts.
ViewCast's products supporting live Flash from On2 are planned for release in the third quarter of 2007. The introduction into the market will be enhanced through ViewCast's previously announced agreement with Adobe for joint channel marketing of these upcoming products.
"The broadcast quality of VP6 is in high demand for live applications," said Mike Savello, senior vice president of Flash business for On2. "Together with ViewCast, we are assuring that broadcasters and programmers get the quality, reliability, and flexibility required for major broadcast applications."
ViewCast's GoStream Pro and Niagara Plus product lines are designed for enterprise IT professionals, professional studios, broadcasters, cable head- ends, ISPs, and other media professionals to deploy quality IP video distribution services. The appliances are used for VOD, Internet TV, webcasting, video archiving, and streaming training videos.
"On2 VP6 based Flash video is rapidly becoming the standard for on-demand Web video, and customers are demanding live Flash video capabilities," said Dave Stoner, president of ViewCast. "On2's Flix Live product line has set the quality benchmark for live Flash streaming, and now programmers will have the enhanced capabilities to do live Flash broadcasts with ViewCast's encoding and streaming appliances."
On2 VP6 is the video format used in Adobe Flash Player 8 and 9, and is available on more than 90 percent of PCs worldwide. On2's Flix Live is the first product-line introduced in the market for streaming live Flash video.
About On2 Technologies, Inc.
On2 Technologies (Amex: ONT) is a leading technology firm at the forefront of digital video compression. The company revolutionized digital media delivery with the creation of its advanced full-motion, full-screen On2 Video compression and streaming technologies. On2 Video codecs are widely used in the Internet, video-on-demand, VoIP, and mobile media markets. On2's software is used by such leading global companies as Adobe, AOL, Skype, XM Satellite Radio, Sony, CTTNet, VitalStream, and Tencent. Located in Tarrytown, N.Y., the company has R&D offices in Clifton Park, N.Y., and Cambridge, UK. To contact On2, write to sales@on2.com or visit http://www.on2.com.
About ViewCast Corporation
ViewCast develops video and audio communication products for delivering content dynamically via a variety of network types and protocols. These products include Osprey(R) Video capture cards and Niagara(R) video encoders/servers featuring Niagara SCX(R) encoder management software. ViewCast products address the video capture, processing, and delivery requirements for a broad range of applications and markets. More information is available on the company's Web site at http://www.viewcast.com.
ViewCast, Osprey, Niagara, Niagara SCX, EZStream and SimulStream are trademarks or registered trademarks of ViewCast Corporation or its subsidiaries.
All trademarks mentioned in this document are the property of their respective owners.
SOURCE On2 Technologies, Inc.
----------------------------------------------
Media
Sam Vasisht of On2 Technologies
Inc.
+1-518-724-3872
svasisht@on2.com; or Wendy Moore of ViewCast Corporation
+1-972-488-7200
wendym@viewcast.com; or David Netz of Wall Street Communications
+1-303-329-0359
dave@wallstcom.com
for ViewCast Corporation
FRNT 5.64 Frontier Airlines Extends Relationship With Barclays and Launches Small Business Credit Card Program
Jun 27, 2007 8:00:00 AM
Frontier Now Offers Consumers and Small Business Owners Greater Flexibility
and Opportunities to Earn Miles and Other Perks
WILMINGTON, Del. and DENVER, June 27 /PRNewswire-FirstCall/ -- Frontier Airlines (Nasdaq: FRNT) today announced that it has extended its consumer credit card relationship with Barclays (NYSE: BCS), one of the world's largest financial institutions, to offer to its small business customers the Frontier Airlines MasterCard BusinessCard.
Like the consumer version of the credit card, the new BusinessCard offers 12,500 bonus miles upon activation, plus one mile for every dollar spent on regular purchases and two miles for every dollar spent on Frontier Airlines purchases. For a low $49 annual fee, the new BusinessCard offers simplified expense management and spend tracking features, and a credit line of up to $50,000. The new card also gives business owners the flexibility they need to better manage their finances, the ability to control employee spending, and the opportunity to award frequent flyer miles to employee cardholders.
Featuring the stars of Frontier's award-winning tail-animal ad campaign, Barclays and Frontier offer consumer cardholders a choice of one of six Frontier card designs, including its signature Rabbit, Lynx, Fox and Bear, as well as the new Penguin and Dolphin designs. Frontier's BusinessCard features its popular Wolf design. As an added benefit to Frontier cardholders this year, those who make more than $60,000 in purchases within 12 credit card statement cycles (January to December statements) will automatically be upgraded to "Ascent" status, an elite level in Frontier's EarlyReturns program.
"Frontier Airlines' EarlyReturns is already one of the best loyalty programs in the industry, and our Frontier MasterCard has played a significant role in expanding our program and delivering even greater value and satisfaction to our members," said John Happ, Senior Vice President of Marketing and Planning at Frontier Airlines. "Thanks in no small part to the great success of our consumer credit card, we're pleased to offer the new Frontier Airlines BusinessCard so that our small business customers can benefit from Barclays' knowledge, expertise and world-class programs and services while earning Frontier miles for the everyday purchases they need to help their business grow."
"Frontier Airlines' decision to expand its four-year relationship with Barclays is a strong testament to the quality of our loyalty programs, the excellence of our customer service, and our strong commitment to Frontier's success," said Chuck Moore, Managing Director, Marketing and Partners at Barclays. "With the depth of Barclays' experience and resources behind Frontier's consumer and business card offerings, we're able to offer cardholders even greater flexibility and more opportunities to earn free travel -- making Frontier a more rewarding airline to fly."
About Frontier Airlines Holdings, Inc.
Frontier Airlines Holdings, Inc. is the parent company of Denver-based Frontier Airlines. Currently in its 13th year of operations, Frontier Airlines is the second-largest jet service carrier at Denver International Airport, employing approximately 5,000 aviation professionals. With 60 aircraft and one of the youngest Airbus fleet in North America, Frontier offers 24 channels of DIRECTV(R) service in every seatback along with 33 inches of legroom in an all coach configuration. In conjunction with its regional jet fleet, operated by Horizon and Republic Airlines, Frontier offers routes linking its Denver hub to 58 destinations including 48 U.S. cities in 30 states spanning the nation from coast to coast, eight cities in Mexico and two cities in Canada. In November 2006, Frontier and AirTran Airways announced a first-of-its-kind integrated marketing partnership that offers travelers the ability to reach more than 80 destinations across four countries with low fares, aboard two of the youngest fleets in the industry. In December 2006, Frontier was designated "Best Low Cost Carrier" in the U.S. by the readers of Business Traveler magazine. Frontier's maintenance department has received the Federal Aviation Administration (FAA) Diamond Award recognizing its advanced training standards for eight consecutive years, from 1999 to 2006. For more in-depth information on Frontier Airlines, please visit our Web site at http://www.frontierairlines.com/.
About Barclays
Headquartered in Wilmington, Delaware, the U.S. credit card operations of Barclays PLC, has more than 50 existing credit card partnerships with some of the country's most successful travel, entertainment, educational and financial institutions including Frontier Airlines, US Airways, AirTran Airways, Midwest Airlines, Carnival Cruise Lines, TiVo, Gulf Oil, Harvard Alumni Association, and UBS among others. For more information please visit www.barclaycardus.com.
Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. Barclays is one of the largest financial services companies in the world by market capitalization. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 123,000 people. Barclays moves, lends, invests and protects money for over 27 million customers and clients worldwide. Barclaycard is one of the largest global credit card companies with 16.2 million credit card customers around the world. For more information about Barclays PLC, please visit www.barclays.com
* Based on more than 450,000 votes worldwide, InsideFlyer magazine named Frontier Airlines' EarlyReturns frequent flyer "Program of the Year" in the U.S., and winner of the "Best Award" category, at the 19th Annual Freddie Awards, April 26, 2007.
SOURCE Barclays
----------------------------------------------
Donna Sokolsky of Sparkpr
+1-415-962-8200 ext. 222
donna@sparkpr.com
for Barclays
CHTP 5.50 Chelsea Therapeutics Initiates CH-1504 Bioequivalence Study
Study to Determine Comparable Doses of New Disodium Salt Formulation of CH-1504 and Provide Intended Dose Range for Global Phase II Trial in Rheumatoid Arthritis
Jun 27, 2007 8:00:00 AM
2007 PrimeNewswire, Inc.
CHARLOTTE, N.C., June 27, 2007 (PRIME NEWSWIRE) -- Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) has begun dosing volunteers in its bioequivalence study of CH-1504, an orally available metabolically inert antifolate which has demonstrated potential anti-inflammatory and anti-tumor properties.
The bioequivalence study, being conducted at Swiss Pharma in Basel, Switzerland, is intended to determine a comparable dose range for Chelsea's new disodium composition of CH-1504 and will consist of escalating oral doses of CH-1504 administered in cohorts of healthy male volunteers. Each cohort will receive a single dose of CH-1504 with evaluation up to 14-days post-dose. When target plasma levels have been reached, Chelsea will conduct a multiple dose evaluation of the final doses intended for a Phase II study in rheumatoid arthritis (RA).
Based on the planned dosing schedule, Chelsea anticipates the study will require approximately 5 cohorts and yield definitive results late in the third quarter 2007. Results from this study combined with the existing body of preclinical and clinical data are expected to enable the Company to initiate Phase II trials of CH-1504 in RA during the fourth quarter 2007.
"Establishing bioequivalence for our new disodium salt formulation is the last remaining step in this reformulation process, following which we eagerly anticipate moving ahead in our clinical evaluation of CH-1504 as a safe and effective treatment alternative to methotrexate in our planned Phase II trial in the fourth quarter," commented Dr. Simon Pedder, Chelsea's President and Chief Executive Officer. "Based on the formulation analysis to date and preliminary primate data indicating a nearly four-fold improvement in bioavailability of the disodium salt composition, we are optimistic that the bioequivalence study will show that significantly lower doses of CH-1504 will be required to achieve the therapeutic benefit previously demonstrated by the compound while simultaneously demonstrating reduced variability in plasma levels."
About CH-1504
CH-1504 is the lead product candidate in Chelsea's portfolio of novel antifolate compounds developed by Dr. Gopal Nair and licensed by the company in 2004. An orally available and metabolically inert antifolate with potent anti-inflammatory and anti-tumor properties, CH-1504 potently inhibits several key enzymes that are required for cell proliferation. Preclinical and clinical data to date suggests superior safety and tolerability, as well as increased potency versus MTX, currently the leading antifolate treatment and standard of care for a broad range of abnormal cell proliferation diseases. Diseases that may potentially benefit from the compound include RA, psoriasis, inflammatory bowel disease, cancer and other immunological disorders.
Chelsea reported positive preliminary results from its U.K. Phase I trials for all oral indications of CH-1504 in December 2005 and anticipates the initiation of a Phase II trial for RA in 2007. Additionally, an independent six-month pilot clinical study compared CH-1504 to MTX in 20 RA patients in Peru. Although this pilot study will not be used as a part of the U.S. regulatory approval process, the results of this study suggest that CH-1504 has lower toxicity and improved tolerability, as well as potentially increased efficacy versus MTX. Preclinical animal models have also indicated that CH-1504 may have superior efficacy and a greater therapeutics window than MTX.
About Chelsea Therapeutics
Chelsea Therapeutics is a biopharmaceutical development company that acquires and develops innovative products for the treatment of a variety of human diseases. The Company is currently developing a library of metabolically inert antifolate compounds engineered to have potent anti-inflammatory and anti-tumor activity to treat a range of immunological disorders. Early clinical data suggests that Chelsea's lead antifolate compound, CH-1504, is a safe and effective treatment alternative to methotrexate for RA and may have further applications for psoriasis, IBD and certain cancers. Chelsea's antifolate program is complemented by a strategic partnership with Active Biotech AB for the joint development of a portfolio of therapeutics targeting immune-mediated inflammatory disorders and transplantation. In addition to its autoimmune pipeline, Chelsea has received approval for the designation of Droxidopa in the US as an Orphan Drug. Droxidopa is an orally active synthetic precursor of norepinephrine, for the treatment of neurogenic orthostatic hypotension. Currently approved and marketed in Japan, Droxidopa has accumulated over 15 years of proven safety and efficacy, historically generating annual revenues of approximately $50 million in Japan.
This press release contains forward-looking statements regarding future events. These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include reliance on collaborations and licenses, risks and costs of drug development, regulatory approvals, intellectual property risks, our reliance on our lead drug candidate CH-1504, our history of losses and need to raise more money, competition, market acceptance for our products if any are approved for marketing, reliance on key personnel including specifically Dr. Pedder, management of rapid growth, and the need to acquire or develop additional products.
CONTACT: Chelsea Therapeutics
Nick Riehle, Chief Financial Officer
704-341-1516 x101
Kathryn McNeil, Investor/Media Relations
718-788-2856
CNIC 2.85 Copernic Inc. (Formely Mamma.com Inc.) Announces Launch of a New Corporate Image and Web Site
Jun 27, 2007 8:00:00 AM
MONTREAL, CANADA -- (MARKETWIRE) -- 06/27/07 -- Copernic Inc., (the "Company")(NASDAQ: CNIC), formerly Mamma.com Inc., announces the launch of a refreshed corporate image and a new website at www.copernic-inc.com.
Martin Bouchard, Copernic Inc.'s CEO stated: "Our new name, Copernic Inc., and our new corporate website encompasses our overall objective of combining and growing our strengths in Web search, innovative software development and media services - it firmly entrenches our commitment to growing our user-base and our media business. By offering innovative Desktop and Mobile search products we are exposing new users to the benefits of our search technology and creating more targeted online advertising placements."
Mamma.com and the Company's other search properties will continue to offer quality search results to its users, as well as media solutions to advertisers that are looking for tools to help increase their site traffic and drive revenue. The Company's ability to license and brand their search offers, coupled with its media placement capabilities, provides clients with cutting edge technology that allows them to grow and maintain their own clients, as well as offers them an integrated means of gaining online advertising revenue instantly.
As a result of the name change, the Company's stock ticker symbol was changed to "CNIC" on June 21, 2007. There is a six month transition period during which information on the Company can be accessed on www.nasdaq.com as both "CNIC" and "MAMA". Investors can browse www.copernic-inc.com for historical press releases, annual reports, new announcements and a variety of other corporate information.
About Copernic Inc.
Copernic Inc. is a leading provider of award winning search technology for both the Web and desktop space delivered through its properties, such as www.mamma.com and www.copernic.com.
Through its award winning Copernic Desktop Search product, the Company develops cutting edge search solutions bringing the power of a sophisticated, yet easy-to-use search engine to the user's PC. It allows for instant searching of files, emails, and email attachments stored anywhere on a PC hard drive. Its desktop search application won the CNET Editors' Choice Award as well as the PC World World Class award in 2005. In 2007, PC Pro, UK's most respected IT magazine for professionals and Micro Hebdo, one of France's most read IT magazines, each selected Copernic Desktop Search 2.0 as the top desktop search tool.
Through its well established media placement channels, Copernic Inc. provides both online advertising as well as pure content to its vast array of partnerships worldwide. Copernic handles over 1 billion search requests and has media placement partnerships established not only in North America, but in Europe and Australia as well.
More information can be found at www.copernic-inc.com
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission and the Ontario Securities Commission and include but are not limited to the extent to which the results of the SEC investigation or the purported securities class action lawsuits negatively impact the Company. The Company expressly disclaims and intent or obligation to update any description of the scope, focus or subject matter of the statement in this press release.
Contacts:
Copernic Inc.
Christine Papademetriou
Director of Marketing
Toll Free: 877-289-4682 #125 or 514-908-4325
cpapademetriou@copernic.com
www.copernic-inc.com
MHA .80 Manhattan Pharmaceuticals Acquires Hedrin(TM) for the Treatment of Head Lice
Jun 27, 2007 7:59:00 AM
NEW YORK, JUNE 27 /PRNewswire-FirstCall/ -- Manhattan Pharmaceuticals, Inc. (Amex: MHA) today announced that it has acquired exclusive, North American rights to develop and commercialize Hedrin(TM), a novel, non-insecticide product candidate for the treatment of head lice. Hedrin is currently marketed in Europe and in the United Kingdom (UK), and according to market research firm Information Resources, Inc. has recently achieved significant market share (greater than or equal to 40%) in certain European countries. The product candidate is the third to be licensed by Manhattan Pharmaceuticals from Thornton & Ross Limited -- the largest independent OTC pharmaceutical manufacturer in the UK.
Hedrin is a non-insecticide combination of silicones (dimeticone and cyclomethicone) that acts as a pediculicidal (lice killing) agent by disrupting the osmotic balance within the insect. Most currently available lice treatments contain chemical insecticide. Because Hedrin kills lice physically rather than by acting on the central nervous system the insects cannot build up resistance to the treatment. Both silicones in Hedrin are used extensively in cosmetics and toiletries.
In a Phase 3, randomized, controlled equivalence, clinical study conducted in Europe, Hedrin was administered to 253 adult and child subjects with head louse infestation. The study results, published in the British Medical Journal in June 2005, demonstrated Hedrin's equivalence when compared to the insecticide treatment, phenothrin, the most widely-used pediculicide in the UK. In addition, according to the same study, the Hedrin-treated subjects experienced significantly less irritation (2%) than those treated with phenothrin (9%). A more recent randomized, controlled parallel group superiority clinical study (currently awaiting publication) has demonstrated that Hedrin is superior to malathion liquid in the treatment of head louse infestation. In addition to killing lice, further analysis from both of the above clinical trials shows that Hedrin is effective in killing louse eggs.
"Hedrin is rapidly gaining market acceptance in Europe and in the UK, where it has achieved 40% market share, and we believe it has the potential to provide an important treatment alternative here in North America," stated Doug Abel, president and chief executive officer. "The acquisition of exclusive North American rights to Hedrin is another important step in Manhattan Pharmaceuticals' corporate strategy to create a robust, dual focused pipeline in the areas of dermatology/immunology and endocrinology/metabolism."
According to the American Academy of Pediatrics an estimated 6-12 million Americans are infested with head lice each year, with pre-school and elementary age children, 3-11, and their families affected most often.
Recent studies have indicated that insecticide resistance may be increasing and therefore contributing to treatment failure. Accordingly, Manhattan Pharmaceuticals believes that there is significant potential for a convenient, non-insecticide treatment alternative.
This licensing transaction increases the Manhattan Pharmaceuticals pipeline to six clinical stage product candidates.
About Manhattan Pharmaceuticals, Inc.
Manhattan Pharmaceuticals, Inc., (Amex: MHA) is a clinical-stage pharmaceutical company developing novel, high-value drug candidates primarily in the areas of endocrine/metabolic disease and dermatologic/immunologic disorders. With a pipeline consisting of six clinical-stage product candidates, Manhattan Pharmaceuticals is developing potential therapeutics for large, underserved patient populations seeking superior treatments for conditions including common obesity, morbid obesity, psoriasis, and atopic dermatitis (eczema). (http://www.manhattanpharma.com)
About Thornton & Ross Limited
Founded in Huddersfield, Thornton & Ross (T&R) is a privately-owned company which has grown to become a significant player within the UK healthcare market with brands which span the Rx, OTC and consumer sectors. Its leading brands include COVONIA (cough cold and flu range), HEDRIN (Headlice treatment), CARE (range of everyday medicines), ALGESAL and TRANSVASIN (topical analgesics), SETLERS and GASTROCOTE (heartburn and indigestion remedies). T&R's leading household brand is ZOFLORA a range of floral disinfectants.
T&R manufactures the majority of its products, specializing in pharmaceutical liquids and creams. The company employs 350 people and has a turnover approaching 40 million pounds Sterling. (www.thorntonross.com)
Contact Information
Manhattan Pharmaceuticals, Inc.
Michael G. McGuinness
Chief Financial Officer
212.582.3950
Thornton & Ross Limited
Dieno George
Chief Executive Officer
+44 (01484) 842217
dienogeorge@thorntonross.com
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause Manhattan Pharmaceutical's actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that any of Manhattan's development efforts relating to Hedrin(TM) or any of its other product candidates will be successful. Other risks that may affect forward-looking information contained in this press release include the possibility of being unable to obtain regulatory approval of Manhattan's product candidates, including Hedrin(TM), the risk that the results of clinical trials may not support Manhattan's claims, the risk that a non-insecticide alternative treatment may not achieve market acceptance in North America, Manhattan's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended December 31, 2006. Manhattan assumes no obligation to update these statements, except as required by law.
SOURCE Manhattan Pharmaceuticals, Inc.
----------------------------------------------
Michael G. McGuinness
Chief Financial Officer of Manhattan Pharmaceuticals
Inc.
+1-212-582-3950; or Dieno George
Chief Executive Officer of Thornton & Ross Limited
+44-01484-842217
dienogeorge@thorntonross.com
for Manhattan Pharmaceuticals
Inc.
ARTG 2.60 ATG Introduces Commerce Service Center to Unify e-Commerce Sites and Contact Centers
Agent-facing application suite bridges the gap between the Web site and contact center, streamlining agent-assisted order administration, sales support, and customer care
Jun 27, 2007 7:57:00 AM
Copyright Business Wire 2007
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
ATG (Art Technology Group, Inc., NASDAQ: ARTG), whose e-commerce suite powers more top online sellers than any other, today announced the launch and general availability of ATG Commerce Service Center (ATG CSC), a new software application suite that integrates personalized online commerce with order administration, sales support, and customer care in the contact center. Serving as the agent face of ATG Commerce, the company's industry-leading e-commerce and personalization software suite, ATG CSC extends ATG's e-commerce suite. Ultimately, this capability is designed to drive higher conversion rates, larger order sizes, and stronger customer loyalty.
By creating a smooth bridge when consumers move from the Web site to a telephone, e-mail, or chat with a live agent, ATG CSC shows sales and service agents the same catalog, promotions, coupons, cross-sells, up-sells, and customer information as the Web store, so that customer inquiries can be quickly, accurately, and consistently addressed, even when multiple interactions across multiple touch points (phone, e-mail, web, or chat) occur.
Increasingly, companies are finding that contact center agents have inadequate access to customer information and order data from the Web site, despite the reality that customers browsing and purchasing products online often talk to a contact center agent. By providing real-time visibility and insight into each customer's Web interaction history, ATG CSC empowers contact center agents to deliver a personalized, positive customer service experience when they are helping customers complete a purchase, follow up on an order, or request other assistance.
ATG CSC features personalization capabilities that increase customer satisfaction and conversion rates. The new application actively identifies and presents opportunities for agents to respond to signs of a shopper having difficulty or needing assistance, to ensure customer retention.
Going far beyond the limited agent support other e-commerce vendors offer, ATG CSC also incorporates award-winning knowledge management, e-mail and text message response management, and Click to Call/Click to Chat from eStara (an ATG company), used by more retailers than any other Click to Call product.
The development of ATG CSC is in part inspired by ATG customers like American Eagle Outfitters and Idea Forest (which owns and operates Jo-Ann.com). Jo-Ann.com built a Web store using ATG Commerce and tightly integrated its e-commerce operations with customer care features to drive impressive sales increases and approximately 90 percent transaction completion rates.
"There's no arguing the fact that training customer service representatives on multiple applications and user interfaces is expensive and much more complicated than it needs to be," said Juan Gonzalez, director of IT for Idea Forest and Jo-Ann.com. "Working with ATG allows us to closely align contact center operations with our Web retail efforts and provides a seamless shopping experience for our customers. With the customer service agent having full access to any shopper's present and previous purchase history, time and money are saved, and most importantly, our customers are given the superior level of customer care that they deserve. Further, once we're certain that our customers' needs are satisfied, ATG software helps us present relevant cross-sell and up-sell offers that complement a customer's purchase. So the value is not only the completion of the sale - it's also about adding dollars to the shopping cart."
"Providing excellent customer service is a critical part of selling on the Web, and ATG has long believed that contact centers should be profit centers," said Cliff Conneighton, senior vice president, ATG. "The new ATG Commerce Service Center represents a unity between customer service and e-commerce that was desperately lacking in the marketplace. Agents can now present relevant and personal offers at the right time, in the right way, throughout the entire buying process. This unique level of customer service results in increased customer satisfaction, bigger order size, and more conversions, while reducing contact center costs, which results in higher sales and profits for the retailer."
ATG Commerce Service Center is available immediately as licensed software, or as part of the ATG Commerce OnDemand software-as-a-service offering.
About ATG
ATG (Art Technology Group, Inc., NASDAQ: ARTG) makes the software and delivers the on demand solutions that the world's most customer-conscious companies use to power their e-commerce web sites, attract prospects, convert them to buyers and ensure their satisfaction so they become loyal, repeat, profitable customers. Our e-commerce suite is ranked the #1 current offering and #1 in strategy by the industry's most influential analyst firms, and powers more of the top 300 internet retailers than any other vendor. Our eStara brand provides customer interaction solutions to enhance conversions and customer support, and delivers the world's most widely used click-to-call service. ATG's solutions are used by over 900 major brands, including Amazon, American Eagle Outfitters, AOL, AT&T, Best Buy, B&Q Cabela's, Carrefour, Cingular, Coca Cola, Continental Airlines, CVS, Dell, DirecTV, El Corte Ingles, Expedia, France Telecom, Harvard Business School Publishing, Hewlett-Packard, Hilton, HSBC, Intuit, J. Crew, Macy's, Meredith, Microsoft, Neiman Marcus, New York & Company, Nokia, OfficeMax, PayPal, Philips, Procter & Gamble, Sears, Sony, Symantec, Target, T-Mobile, Urban Outfitters, Verizon, Viacom, Vodafone and Walgreens. The company is headquartered in Cambridge, Massachusetts, with additional locations throughout North America and Europe. For more information about ATG, please visit www.atg.com.
(C) 2007 Art Technology Group, Inc. ATG and Art Technology Group are registered trademarks, and ATG Wisdom is a trademark of Art Technology Group, Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.
This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause ATG's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important risk factors affecting ATG's business generally may be found in its periodic reports and registration statements filed with the Securities and Exchange Commission at www.sec.gov . Risk factors related to the subject matter of this press release include the possibility that the ATG product deployment will not be successful, on time or significantly enhance the user's Internet experience or will not increase customer revenue across brands; that those customers leveraging ATG will not have the opportunity to increase revenue and decrease future costs; the need to adapt to rapid changes so products do not become obsolete; the possibility of errors in ATG's software products; the possibility that the solution will not make customer implementations faster or more flexible or permit the customer to meet its customer-facing or infrastructure requirements; that the ATG product will not continue to be integrated with third party applications servers or will not support all Web services enabled systems; that ATG's product strategy may change in the future; and the risks and costs of intellectual property litigation. ATG undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Source: ATG
----------------------------------------------
ATG
Tucker Walsh
617-386-1159
twalsh@atg.com
www.atg.com
or
Matter Communications for ATG
Jesse Ciccone
978-499-9250 x230
atg@matternow.com
www.matternow.com
EEE 6.05 Evergreen Energy Inc. Names Kevin R. Collins President & CEO
Jun 27, 2007 7:57:00 AM
Copyright Business Wire 2007
DENVER--(BUSINESS WIRE)--
Evergreen Energy Inc.'s (NYSE Arca: EEE) board of directors has named Kevin R. Collins as president and CEO of the cleaner coal technology and production company, effective Tuesday, June 26.
During the last 60 days, the board carefully evaluated Collins' performance and leadership qualities, and determined that making him president and CEO on a permanent basis was in the best interest of shareholders. The board expressed confidence in Collins, 50, citing a shared vision for the future of the company as well as operational and managerial accomplishments under his leadership, including operational improvements at the Ft. Union plant, organizational restructuring, and focused business development efforts. Collins' tenure as president and CEO began on an "interim" basis in late April, 2007.
"Since taking over Kevin has brought a real hands-on approach to the job and imparted a sense of urgency and accountability across our operations," said Robert J. Clark, chairman of the board. "While there is still much work to be done, this approach is what the board envisioned when it initiated the company's leadership change in late April."
The board executive committee charged with finding a new president and CEO monitored Collins' leadership while concurrently initiating a preliminary outside search. The committee concluded that it was in the best interests of the company to appoint Collins as the new president and CEO based on the company's progress under his leadership, his familiarity with the company, the quality of his executive team and the continuity it would provide.
"I welcome the board's confidence and I'm encouraged by the progress we've made so far with our operations, management practices and business development," said Collins. "The need remains to further improve operations at our Gillette, Wyoming coal refinery, and that will be our focus as we seek definitive construction agreements for K-Direct plants and the financing packages that will accompany those agreements," he added.
About Evergreen Energy
Evergreen Energy Inc. refines coal into a cleaner, more efficient and affordable solid fuel that is available today to meet the growing energy demands of industrial and utility customers while addressing important environmental concerns. Visit www.evgenergy.com for more information.
Source: Evergreen Energy Inc.
----------------------------------------------
Evergreen Energy Inc.
Analyst and Investors:
Karli Anderson
303-293-2992
Director of Investor Relations
or
Media and Public Affairs:
Paul Jacobson
303-293-2992
VP Corporate Communications
TUBR 2.41 Tubearoo, Inc. Traffic Increases 60% Over Two Months
Jun 27, 2007 7:55:00 AM
Copyright Business Wire 2007
FAIRFAX, Va.--(BUSINESS WIRE)--
Tubearoo, Inc. (Pink Sheets:TUBR), with its mission to become one of the world's largest Internet video networks for users to view, upload, and share Internet video, today announced that the combined traffic to its network of websites increased by 60% from March to May.
"Tubearoo, Inc. is pleased to report that after showing traffic of approximately 1,000,000 visits for March, traffic increased 60% to more than 1,600,000 visits in May. These are great numbers for our network and we are very pleased with this high growth rate in just two months, and based on month to date numbers for June it appears that we have maintained a similarly high level of traffic as compared to May," said Paul Medvedev, Tubearoo's President and CEO.
"We attribute this success to additional Internet presence, marketing and advertising, and delivery of a great product that our users enjoy. We are excited about the development of our network, and Tubearoo has a lot to look forward to as the Internet video market continues to grow," added Medvedev.
Referring to industry-wide statistics, Tubearoo recently reported that according to information released by comScore Video Metrix, the number of unique U.S. Internet video streamers reached over 126 million in March 2007, approximately a 3% increase over nearly 123 million in January; and approximately a 14% increase over 110 million in August.
To capitalize on this Internet video opportunity, Tubearoo is building a network of websites that empower users to view, upload, and share video online, and also participate in social networking and people-powered websites. Currently, Tubearoo's Network features Internet video in three languages at four websites:
Tubearoo.com - Users can view, upload, and share Internet video in English.
Tubearoo.cn - Users can view, upload, and share Internet video in Chinese.
Teleroo.com - Users can view, upload, and share Internet video in Spanish.
Shoutwire.com - Users can view, upload, and share Internet video in English, and also participate in text based people-powered news articles and entertainment.
The company noted that it may not be able to continue at this rate of traffic growth either in the short term or long term.
Visit www.Tubearoo.com - The World's Internet Video Network
About Tubearoo, Inc.
Tubearoo, Inc. (Pink Sheets: TUBR), with its mission to become one of the world's largest Internet video networks, empowers its users to view, upload, and share streaming Internet video and other entertainment media online.
Tubearoo is building a network of Internet video, social networking, and people-powered web sites, which currently consists of Tubearoo.com, Shoutwire.com, Teleroo.com, and Tubearoo.cn.
The technology, media, and finance worlds are realizing the growth and power of Internet video, and Tubearoo, Inc. is driving to become a leader in the marketplace.
Other Corporate and Financial Information is available in the company's Information Disclosure Statement available at http://www.tubearoo.com/investors.
Statements in this news release may include forward-looking statements that are subject to risks and uncertainties and such statements are not assurances. Words such as "possibly," "expects," "intends," "plans," "may," "could," "anticipates," "likely," "believes," and words of similar use may identify forward-looking statements. Actual results may differ materially from those anticipated by the company and discussed in this news release. This company, its operational performance, its financial performance, and its financial condition are subject to a number of risks, uncertainties, and other factors that may affect business and financial results.
Website: http://www.tubearoo.com
Source: Tubearoo, Inc.
----------------------------------------------
Tubearoo
Inc.
Pavel Medvedev
1-703-835-9695
press@tubearoo.com
or
Investor Relations Agency:
1-866-710-TUBR (8827)
AuthenTec Announces Pricing of Initial Public Offering of Common Stock
Jun 27, 2007 7:30:00 AM
MELBOURNE, Fla., June 27 /PRNewswire-FirstCall/ -- AuthenTec, Inc. (Nasdaq: AUTH), a leading provider of fingerprint sensors, today announced the initial public offering of 7,500,000 shares of its common stock priced at $11.00 per share. AuthenTec, Inc. is offering 5,625,000 shares and certain selling stockholders are offering 1,875,000 shares of common stock.
The common stock will begin trading today on the Nasdaq Global Market under the symbol "AUTH." The offering is expected to close on or about July 2, 2007.
AuthenTec, Inc. has granted the underwriters an option to purchase up to an additional 1,125,000 shares of common stock.
AuthenTec, Inc. intends to use net proceeds from the offering for general corporate purposes. AuthenTec, Inc. will not receive any proceeds from the sale of the shares of common stock by the selling stockholders.
Lehman Brothers Inc. is acting as sole book-running manager and as the representative of the underwriters, which include Bear, Stearns & Co. Inc.; Cowen and Company, LLC; Raymond James & Associates, Inc.; and Montgomery & Co., LLC.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. Written copies of the prospectus relating to the offering may be obtained from Lehman Brothers Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, (fax): 631-254-7140, or e-mail qiana.smith@broadridge.com, or at the Securities and Exchange Commission's website at http://www.sec.gov.
About AuthenTec
AuthenTec is a leading provider of fingerprint authentication sensors and solutions to the high-volume PC, wireless device, and access control markets. AuthenTec's award-winning sensors take full advantage of The Power of Touch(R) by utilizing the company's patented TruePrint(R) technology to deliver convenient, reliable and cost-effective means available for enabling touch- powered features that extend beyond user authentication. The company's customers include: ASUSTeK, Fujitsu, HP, Hitachi, HTC, Lenovo, LG Electronics, Samsung, and Toshiba, among others.
This press release contains forward-looking statements, including statements about beliefs and expectations. These statements are based upon the company's current plans as well as its expectations of external conditions and events. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The company undertakes no duty to and will not necessarily update any of them in light of new information or future events, except to the extent required by applicable law.
SOURCE AuthenTec, Inc.
----------------------------------------------
Brent Dietz Director of Communications AuthenTec
Inc.
+1-321-480-2223
brent.dietz@authentec.com
KVHI 8.75 KVH TracVision Systems Selected by Monaco Coach, Largest Manufacturer of Class A Coaches
HDTV-ready TracVision Satellite TV Systems Now Available as Standard Option on Monaco's Luxury Coaches
Jun 27, 2007 7:30:00 AM
MIDDLETOWN, R.I., June 27 /PRNewswire-FirstCall/ -- KVH Industries, Inc., (Nasdaq: KVHI) announced today that Monaco Coach, a leading manufacturer of recreational vehicles and the United States' largest builder of Class A motor coaches, will add the KVH TracVision(R) R-series of mobile satellite TV systems to their new 2008 vehicles.
Commenting on the addition of TracVision systems to Monaco's 2008 coaches, Mike Snell, Monaco's vice president of sales, said, "Our motorhome owners are tech savvy, always looking for the latest and best in electronics. The KVH TracVision satellite system is the perfect fit for our discerning coach owners."
"We design our TracVision systems to be the world's finest mobile satellite TV systems for RVs and a fitting selection for premier luxury RV and motor coach manufacturers like Monaco," explained Ian Palmer, KVH's executive vice president for satellite sales. "Simple to use, fully HDTV-compatible, and offering the highest level of reliability and performance in the industry, TracVision systems are the perfect match for the outstanding quality embodied by Monaco Coach. It is a pleasure to continue our long-established relationship with Monaco and ensure that their customers are as entertained as they are comfortable anywhere they choose to travel."
The rugged and reliable TracVision R-series satellite TV antennas from KVH offer stationary, automatic and fully stabilized, in-motion solutions for every RV owner. Fully compatible with DIRECTV(R), DISH Network(TM), and ExpressVu services, TracVision systems provide access to more than 300 channels of digital satellite TV programming (including HDTV) and more than 50 channels of commercial-free music wherever the vehicle is located throughout the continental United States or Canada. Visit http://www.tracvision.com for additional information about KVH's award-winning TracVision satellite TV systems.
Note to editors: High-resolution images of KVH's TracVision systems are available at http://press.kvh.com for download and editorial use.
About Monaco Coach Corporation
Monaco Coach Corporation (www.monaco-online.com) is one of the nation's leading manufacturers of motorized and towable recreational vehicles. Headquartered in Coburg, OR, with substantial manufacturing facilities in Indiana, Monaco Coach is ranked as the number one manufacturer of diesel- powered motorhomes. The company offers entry-level priced towable RVs up to custom-made luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie, R-Vision and Dodge brand names.
TracVision systems are available to Monaco customers through RiverPark, Inc. (www.riverparkinc.com), of Elkhart, IN, a leading distributor of KVH's satellite TV product line and other high-end electronics products to the recreational vehicle industry since 1981.
About KVH Industries, Inc.
Middletown, RI-based KVH Industries, Inc., is a leading provider of in- motion satellite TV and communication systems, having designed, manufactured, and sold more than 125,000 mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. Winner of the prestigious General Motors Innovative Design Award, 2 CES Innovation Awards, 22 National Marine Electronics Association "Best Product" awards, the DAME Award in the Marine Electronics category, and a finalist for the Automotive News PACE Award, KVH's mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.
KVH and TracVision are registered trademarks of KVH Industries, Inc. All other trademarks are the property of their respective companies.
SOURCE KVH Industries, Inc.
----------------------------------------------
Chris Watson of KVH Industries
+1-401-845-8138
cwatson@kvh.com
TEC 5.38 Teton Energy Announces DJ Basin Grant Pilot Wells Connected to Gas Sales
Jun 27, 2007 7:30:00 AM
DENVER, June 27 /PRNewswire-FirstCall/ -- Teton Energy Corporation ("Teton") (Amex: TEC) today announced that six wells in the Grant pilot area have commenced testing and were connected to gas sales in early June.
The Company will continue to flow test these wells for stabilized rates over the next 30 to 45 days. The Chundy pilot continues to produce 350 thousand cubic feet per day from seven wells.
Capital expenditures for 2007 remain unchanged as Teton estimates that it could spend approximately $6.9 million net to the Company for the drilling of 90 gross wells and 50 square miles of 3-D seismic of which 12 miles are already in progress. The Company estimates 1,355 risked potential locations on 40-acre-spacing.
Company Description. Teton Energy Corporation (Amex: TEC), is an independent oil and gas exploration and production company based in Denver, Colorado. Teton is focused on the acquisition, exploration and development of North American properties and has current operations in the Rocky Mountain region of the U.S. The Company's common stock is listed on the American Stock Exchange under the ticker symbol "TEC". For more information about the Company, please visit the Company's website at www.teton-energy.com.
Forward-Looking Statements. This news release may contain certain forward-looking statements, including declarations regarding Teton and its subsidiary's expectations, intentions, strategies and beliefs regarding the future within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein are based upon information available to Teton's management as at the date hereof and actual results may vary based upon future events, both within and without the control of the Teton's management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that additional acquisitions may have on the Company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, governmental regulations and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission. More information about potential factors that could affect the Company's operating and financial results are included in Teton's annual report on Form 10-K for the year ended December 31, 2006. Teton's disclosure reports are on file at the Securities and Exchange Commission and can be viewed on Teton's website at www.teton-energy.com. Copies are available without charge, upon request from the Company.
www.teton-energy.com
SOURCE Teton Energy Corporation
----------------------------------------------
Andrea Brown of Teton Energy Corporation
+1-303-565-4600
abrown@teton-energy.com
PCYC 2.73 Pharmacyclics Announces Interim Results From Two Ongoing Phase 2 Trials Supporting Potential of Xcytrin(R) Plus Chemotherapy to Treat Recurrent Non-Small Cell Lung Cancer
Jun 27, 2007 7:30:00 AM
WAILEA, Hawaii and SUNNYVALE, Calif., June 27 /PRNewswire-FirstCall/ -- Pharmacyclics, Inc. (Nasdaq: PCYC) today announced preliminary results from two open-label, multi-center Phase 2 clinical trials supporting the potential use of Xcytrin(R) (motexafin gadolinium) Injection, the company's lead product candidate, in combination with Alimta(R) (pemetrexed) and in combination with Taxotere(R) (docetaxel) as a second-line treatment for patients with non-small cell lung cancer (NSCLC) who failed at least one platinum-based chemotherapy regimen. The results were presented today at the Eighth International Lung Cancer Congress in Wailea, Hawaii.
The first ongoing study is evaluating Xcytrin plus Alimta and has enrolled 27 patients of which 20 are evaluable for response at this time. Patients are receiving 15mg/kg Xcytrin with a standard dose of Alimta and treatment is repeated every 21 days. Seventeen patients (85%) receiving Xcytrin and Alimta have achieved stabilization of their tumors, with 10 of the 17 still on treatment for up to nine cycles. The median survival time and median time to progression have not been reached, with estimated actuarial survival of 69% at 12 months. Patients still on treatment remain under evaluation for tumor response. The most common severe (Grade 3 or higher) side effects were asthenia (10.3%), pneumonia (10.3%), thrombocytopenia (10.3%), and neutropenia (6.9%).
The other ongoing study is evaluating Xcytrin plus Taxotere and has enrolled 24 patients of which 14 are evaluable for response at this time. Patients are given 15mg/kg Xcytrin with a standard dose of Taxotere and treatment is repeated every 21 days. Thirteen patients (87%) receiving Xcytrin and Taxotere have achieved stabilization of their tumors, with four still on treatment. The median survival time is 8.2 months and the median time to progression is 8.7 months. Patients still on treatment remain under evaluation for tumor response. The most common severe (Grade 3 or higher) side effects were neutropenia (20.8%), asthenia (16.7%), febrile neutropenia (12.5%), atrial fibrillation (8.3%) and hypotension (8.3%).
"These initial results are encouraging because a relatively low proportion of patients are experiencing disease progression at this time when treated with Xcytrin plus chemotherapy consistent with the synergistic effects we observed in preclinical and early clinical studies," said Richard A. Miller, M.D., president and CEO of Pharmacyclics. "Along with the activity seen in our single agent trial for second-line treatment of non-small cell lung cancer reported last month at ASCO, these data continue to support Xcytrin's potential role in this underserved cancer and further inform the design of our pivotal Phase 3 trial in this indication, which we plan to begin in the first half of 2008."
A New Drug Application for use of Xcytrin in combination with whole brain radiation therapy for treatment of brain metastases from NSCLC was filed with the U.S. Food and Drug Administration in April 2007.
About Non-Small Cell Lung Cancer
The American Cancer Society estimates that there will be more than 213,000 new cases of lung cancer in the United States in 2007. Lung cancer is the leading cause of cancer death, and accounts for over 160,000 deaths in the United States each year. The most common form of lung cancer, non-small cell, is incurable in advanced stages. Lung cancer frequently spreads to other body parts, including the brain.
Xcytrin in Second-Line Lung Cancer
Pharmacyclics is developing Xcytrin as an anti-cancer agent with a novel mechanism of action that is designed to selectively concentrate in tumors and induce apoptosis (programmed cell death). Xcytrin is a redox-active drug that has been shown to disrupt redox-dependent pathways in cells and inhibit oxidative stress-related proteins such as thioredoxin reductase. Its multifunctional mode of action, including its magnetic resonance imaging detectability, provides the opportunity for Xcytrin to be used in a broad range of cancers. In previously conducted randomized trials, Xcytrin combined with whole brain radiation therapy (WBRT) has been shown to prolong time to neurologic progression in patients with brain metastases from NSCLC. Xcytrin's non-overlapping toxicity makes it an appealing agent to use in combination with standard chemotherapy regimens.
The target for Xcytrin is the enzyme thioredoxin reductase, which is frequently overexpressed in lung cancer cells. This enzyme has been shown to confer to cancer cells characteristics of aggressive tumor growth and resistance to chemotherapy. First-line therapy for advanced NSCLC includes combination chemotherapy using drugs such as carboplatin, cisplatin, Gemzar(R), taxanes and others. Currently approved agents for second-line treatment of NSCLC include Alimta, Tarceva(R) and Taxotere.
About Pharmacyclics
Pharmacyclics is a pharmaceutical company developing innovative products to treat cancer and other serious diseases. The company is leveraging its small-molecule drug development expertise to build a pipeline in oncology and other diseases based on a wide range of targets, pathways and mechanisms. Its lead product, Xcytrin, has completed Phase 3 clinical trials and several ongoing Phase 1 and Phase 2 clinical trials are evaluating Xcytrin, either as a single agent or in combination with chemotherapy and/or radiation in multiple cancer types. A New Drug Application for use of Xcytrin in combination with WBRT for treatment of brain metastases from NSCLC was filed with the Food and Drug Administration in April 2007. More information about the company, its technology, and products can be found at http://www.pharmacyclics.com. In addition, more information about advocacy on behalf of Xcytrin can be found at http://www.yourcanceryourchoice.com. Pharmacyclics(R), Xcytrin(R) and the "pentadentate" logo(R) are registered trademarks of Pharmacyclics, Inc.
Alimta(R) and Gemzar(R) are registered trademarks of Eli Lilly and Company.
Tarceva(R) is a registered trademark of Genentech.
Taxotere(R) is a registered trademark of Sanofi-Aventis.
NOTE: Other than statements of historical fact, the statements made in this press release about plans for our NDA filing, enrollment and future plans for our clinical trials, progress of and reports of results from preclinical and clinical studies, clinical development plans and product development activities are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "will," "may," "continue," "plan," "expect," "intend," "anticipate," variations of such words, and similar expressions also identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. The forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements. Factors that could affect actual results include risks associated with the fact that data from preclinical studies and Phase 1 or Phase 2 clinical trials may not necessarily be indicative of future clinical trial results; our ability to obtain future financing and fund the product development of our pipeline; the possibility that the FDA refuses to approve our NDA; because our Phase 3 clinical trial known as the SMART (Study of Neurologic Progression with Motexafin Gadolinium And Radiation Therapy) trial failed to meet its primary endpoint, the FDA may require additional data, analysis or studies before the NDA is approved by the FDA; the outcome of any discussions with the FDA; the initiation, timing, design, enrollment and cost of clinical trials; unexpected delays in clinical trials and preparation of materials for submission to the FDA as part of our NDA filing; our ability to establish successful partnerships and collaborations with third parties; the regulatory approval process in the United States and other countries; and our future capital requirements. For further information about these risks and other factors that may affect the actual results achieved by Pharmacyclics, please see the company's reports as filed with the U.S. Securities and Exchange Commission from time to time, including but not limited to its annual report on Form 10-K for the period ended June 30, 2006 and its subsequently filed quarterly reports on Form 10-Q. Forward-looking statements contained in this announcement are made as of this date, and we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Pharmacyclics, Inc.
----------------------------------------------
Leiv Lea of Pharmacyclics
Inc.
+1-408-774-0330; or Carolyn Bumgardner Wang of WeissComm Partners
Inc.
+1-415-225-5050
for Pharmacyclics
Inc.
TASR 13.21 Another Product Liability Lawsuit Dismissed Against TASER
Jun 27, 2007 7:30:00 AM
2007 PrimeNewswire, Inc.
SCOTTSDALE, Ariz., June 27, 2007 (PRIME NEWSWIRE) -- TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices, announced that the officer injury product liability lawsuit filed by Jacob Peter Herring in the Circuit Court of the City of St. Louis, Twenty-Second Judicial Circuit, St. Louis, Missouri has been voluntarily dismissed without prejudice against TASER International. This is the fifty-second (52nd) wrongful death or injury lawsuit that has been dismissed or judgment entered in favor of TASER International. TASER International has not lost any product liability lawsuit and no money was paid for this dismissal.
"We are very pleased that the plaintiff voluntarily agreed to dismiss this lawsuit against TASER International," said Doug Klint, Vice President and General Counsel of TASER International. "John Maley, partner in the law firm of Barnes & Thornburg, LLC, headquartered in Indianapolis, Indiana, represented TASER International in this litigation and is lead counsel for TASER International on several other lawsuits throughout the country. Mr. Maley is one of the premier trial lawyers in the nation and has done an outstanding job in obtaining dismissals and wins for TASER, not only in this litigation, but also in numerous other cases. We are fortunate to have Mr. Maley on our legal team."
About TASER International, Inc.
TASER International provides advanced electronic control devices for use in the law enforcement, military, private security and personal defense markets. TASER devices use proprietary technology to incapacitate dangerous, combative or high-risk subjects who pose a risk to law enforcement officers, innocent citizens or themselves in a manner that is generally recognized as a safer alternative to other uses of force. TASER technology saves lives every day, and the use of TASER devices dramatically reduces injury rates for police officers and suspects. For more information on TASER life-saving technology, please call TASER International at (800) 978-2737 or visit our website at www.TASER.com.
The TASER International logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2931
Note to Investors
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. The forward-looking information is based upon current information and expectations regarding TASER International. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
TASER International assumes no obligation to update the information contained in this press release. These statements are qualified by important factors that could cause our actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) market acceptance of our products; (2) our ability to establish and expand direct and indirect distribution channels; (3) our ability to attract and retain the endorsement of key opinion-leaders in the law enforcement community; (4) the level of product technology and price competition for our products; (5) the degree and rate of growth of the markets in which we compete and the accompanying demand for our products; (6) risks associated with rapid technological change and new product introductions; (7) competition; (8) litigation including lawsuits resulting from alleged product related injuries and death; (9) media publicity concerning allegations of deaths and injuries occurring after use of the TASER device and the negative effect this publicity could have on our sales; (10) TASER device tests and reports; (11) product quality; (12) implementation of manufacturing automation; (13) potential fluctuations in our quarterly operating results; (14) financial and budgetary constraints of prospects and customers; (15) order delays; (16) dependence upon sole and limited source suppliers; (17) negative reports concerning the TASER device; (18) fluctuations in component pricing; (19) government regulations and inquiries; (20) dependence upon key employees and our ability to retain employees; (21) execution and implementation risks of new technology; (22) ramping manufacturing production to meet demand; (23) medical and safety studies; (24) field test results; and (25) other factors detailed in our filings with the Securities and Exchange Commission, including, without limitation, those factors detailed in the Company's Annual Report on Form 10-K and its Form 10-Qs.
The statements made herein are independent statements of TASER International. The inclusion of any third parties does not represent an endorsement of any TASER International products or services by any such third parties.
CONTACT: TASER International, Inc.
Steve Tuttle, Vice President of Communications
Media ONLY Hotline:
(480) 444-4000