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Jimtash, you state that Radient should rethink their strategy.
AMDL/Radient has been attempting to market DR70 for years and years. In 2001, they signed multiple distributors for the test in the USA, Canada and the UK. The test failed because of multiple false positives. The test was not viable.
The CEO at the time decided the lack of FDA approval was the main problem with marketing so for 6 more years, they pursued FDA approval as a cancer test. Multiple rejections by the FDA finally resulted in applying for monitoring of CRC. The FDA cleared the test for that purpose only and in addition, they required that the CEA test still be run along with the DR70.
IMO, Radient cheated in their clinical trials. They screened the control group and eliminated those with infections, intestinal problems, heart problems and other conditions that would lead to a high FDP level. Just read the clinical study, it is there is black and white. IMO, it is a wonder the FDA even cleared the test.
JimTash, DR70 is a bad test with lots of false positives. If you think management has made mistakes and it could have been marketed better, what would you have done?
After the Chinese bailed with Jade, all MacLellan had left was DR70. What does he do at that point? It is obvious that he decided to lie, cheat and steal money from investors. Would you have just hung it up and called it quits at that point? IMO, that is exactly what he should have done.
Blackpanther, the patent you mentioned using fdp to predict heart disorders used the DR70 test because GENWAY was a distributor for a while.
DR70 is not the only FDP test. There are several others that test for single channel FDP and multi channel FDP as does DR70.
D-dimmer is also used as a stand alone FDA approved test for cardio problems.
It is also interesting to look at the below website because it clearly states the conditions that will give a positive test.
Acute infections
Cancer
Coronary heart disease, Myocardial infarction
Stroke
Inflammatory disorders (like rheumatoid arthritis and glomerulonephritis)
Trauma
The above clearly shows why DR70 has such a HIGH number of false positves for cancer. As a cancer test, it is clearly a failure.
http://labtestsonline.org/understanding/analytes/fibrinogen/tab/test
DCSPKA, You have always claimed DR70 to be an excellent cancer test but when you read the patent application, you can see that FDP is high when some heart conditions exist.
Doesn't that tell you that the specificity of DR70 as a cancer test is not good because it would FALSE when heart conditions exist.
THAT IS THE PROBLEM WITH DR70.....TOO MANY FALSE POSITIVES.
Is it a heart test or a cancer test? It can't be both. The cancer test falses when heart conditions and a lot of other conditions are present and as a heart test, it would false when any type of injury, infection, tumor or cancer is present.
It is just a poor test period.
The $100k license in Asia is an asset but it is possible that the lenders just are not paying any attention to Radient at all.
dcspka, Radient has no method at all of resolving their $22 million of debt. They cannot issue any more shares. That's all over because they cannot do another reverse split without shareholder authorization which costs MONEY.
CIT is old and even if someone attempted to proceed, it would not even be at the point of possible FDA action before the patent expired. That is why it was totally written off.
Onko Sure is proven to have very little value. It wasn't even used for colorectal monitoring as cleared by the FDA because the FDA required it to be used in addition to CEA. No one is going to go to the extra expense of that when the value is not there. Absolutely no one is going to buy Radient or merge with them.
There is no reason for Radient to file for bankruptcy. It costs money. There is no opportunity for reorganization, sale or anything else.
IMO, the only thing that may alter the current situation is the creditors going after any possible assets. The creditors cannot just seize assets because they have no lien on anything that I am aware of. They would have to sue, win a judgement and have the court take the assets. IMO, the $100K per year from licensing would be worth the creditors going after.
Lakeshore, It would appear that the entire case has been settled including the claims against MacLellan.
NOTICE of Settlement of All Claims and Request to Adjourn Final Pretrial Conference and Trial filed by Lead Plaintiffs Reydel Quintana. (Rosen, Laurence) (Entered: 10/28/2013)
"
Any award from the class action lawsuit only goes to the members of the class who purchased stock during the time period covered by the lawsuit. It does not go to any shareholders who purchased stock before or after that period.
From Lakeshore:
"The insurance company settled, not Radient. MacLellan had no say in the matter.
And it doesn't matter to MacLellan or Radient how much it was. They are not paying a penny of it.
When the amount is made public, the class members will be notified of the settlement amount and the "award" per share after Rosen takes his cut.
Rosen posts his wins on his message board, with amounts. He will do that after the settlement is final."
I agree with you that SRL is no longer selling the test. When you go to the order page and enter the code for DR-70, nothing is found. As I mentioned before, the half price sale SRL had earlier was probably just selling off the stock on hand that was about to expire. Radients test would have been good for 2 years so that tells you that the test was not a popular test.
Zare, if you haven't noticed, Onko Sure is no longer on the FDA cleared device list. Radient ceased paying the annual maintenance fees required by the FDA.
If there was some kind of merger going on, don't you think it would have been a priority to have maintained Onko Sure on the FDA cleared product list?
BTW, Onko Sure was not approved to do any kind of screening nor monitoring of colorectal cancer. If you had actually read the FDA clearance notice, you would have seen that it was only cleared to Monitor colorectal cancer IF AND ONLY IF it was used along with CEA. It cannot be used by itself to monitor any kind of cancer.
My last sale of BioCurex is an example of having just a few shares remaining. I asked Ameritrade to cancel the shares out of my account because they were worth less than the trade would have cost.
BioCurex was another cancer scam diagnostic company hyping their RECAF marker. As it finally turned out two years after I sold, the CEO was faking data and had even lost his cell line for manufacturing antibody. It was a total scam and he was enough of a salesman that he got Abbott to sign a contract to evaluate the marker. Abbott presented the data that was a total bust with about the same sensitivity and specificity as what Radient claims for Onko Sure. When Abbott announced their own testing of the marker, they sated that the cancer to normal ratio needs to be much higher to have a usable test. The data Abbott got was 94% specificity and about 75% sensitivity. You can take that same data and move one number up and the other number will go down.
The scam the CEO of BioCurex was running is the same type of scam as Global Diagnostics in Phoenix is attempting and that is pay yourself a lot of money with a product that sounds good but will never succeed while you siphon all of the investors money into your pocket. This is exactly why Mac did at Radient.
Palma, you are looking at this entirely wrong. The form 13 in no way reflects purchases of stock. It only states the stock they currently have after purchasing and selling over the years. Somehow, they ended up with just a few number of shares which is easy to do. It happens all the time. The entire number of shares they had remaining may have been put up for sale when all but a few were purchased. You end up where the sale of the remaining small number of shares ends up costing more than the value of the stock when the selling fees are added.
So, no gamble was taken by buying a few shares. It just didn't happen that way.
When I was in school, it was a fact that many articles were published just for the sake of publishing. The department heads demand that their students publish papers so they can get their name on the paper.
Blackpanther, the abstract you quoted contains absolutely FALSE statements.
"The DR-70 ELISA is the first in vitro diagnostic test to have been approved for colon cancer screening by the USFDA"
DR70 was NOT approved by the FDA for any type of screening.
BioCurex is out of business and all assets have been seized by the primary lender.
It is difficult to imagine why a company that is out of business with all assets seized would be trading at all. Finally, in the past two days, the trading price has dropped to a penny a share but that is still ridiculous.
Palma, If you read the study, the difference between the cancer and non cancer group using DR70 was insignificant. This was preliminary data from the study but it clearly shows that DR-70 does not produce anything medically worthwhile.
This is very typical of DR70 testing. The false positives are so high that it makes testing worthless.
Now, you can easily conclude why no doctors in the western world have any interest in DR70 / Onko Sure. It is essentially worthless.
"Results: The study group consisted of 26 women and 12 men, with a mean age of 52±11. There were no
differerence according demographics, between groups. Although Dr-70 reached a higher mean level in
the cancer group (0.47±0.27 microg/mL vs. 0.60±0.38 microg/mL), this difference was insignificant
(p>0.05)."
As of 10/14/2013, Hunter was an attorney for Mac.
"Filed: 10/14/2013, Entered: None
Witness List filed by Defendant Douglas C MacLellan.. (Hunter, Mark) (Entered: 10/14/2013) "
The insurance company is obligated to pay for defending Radient since the policy was in effect at the time.
Where do you find the link that Hunter is no longer an attorney for Mac. Hunter applied to the court to represent Mac and be recognized by the California bar.
A 10k filed in 2012 indicated that the class action suit against Radient would be covered by an insurance policy that was current at the time. That policy has now lapsed.
"NASCAR cars are all built with rear-view mirrors installed. This allows the driver to better see what is going on around him, which makes for a safer race."
There are no "deep pockets" defending Radient. Piper was prepaid to defend Radient.
This is how Mac paid for his attorney.
"Additionally, as part of the Agreement and in order to provide for payment of past due legal fees, we agreed to issue to our legal counsel, Hunter Taubman Weiss LLP, a $300,000 unsecured convertible 4% Company note payable on April 30, 2015, which shall (i) accrue interest at the annual rate of 4% per annum, (ii) be convertible into our Common Stock at a fixed conversion price of $0.01 per share, (iii) be subject to prepayment at the option of the Company, (iv) contain full ratchet and other customary anti-dilution protection, and (v) not be subject to any mandatory installment or other mandatory prepayment provisions prior to the April 30, 2015 maturity date."
Radients building is now for lease.
Explain that one.
http://www.loopnet.com/Listing/18217398/2492-Walnut-Tustin-CA/?MPID=HIo4xjv9Q&SRID=&tab=Sale-Lease&PgCxtGuid=63ee5fa5-9982-4bf4-a51c-b2b10dd23d30&PgCxtFLKey=&PgCxtCurFLKey=PropertyRecord&PgCxtDir=Down
If you think Onko Sure is a fantastic test or the best cancer test, why would AMDL back in 2008 want to get rid of it? When AMDL was transforming itself into a Chinese Pharma, it is indeed a fact that that the CEO stated in a conference call that DR70 would be moved to a division of its own in order to sell it off. At that time, the CEO knew it was worthless and wanted to totally remove it from the company going forward.
PDL labs in LA was the first company to license Onko Sure in 2008 after onko sure was given FDA clearance. I called PDL in 2010 and asked them about Onko Sure. They had dropped carrying the product due to lack of any sales. No one associated with PDL would have bought any shares of RXPC with a product that would not sell.
Blackpanther, again you post false information. The CEO of PDL inc is NOT the one suing Radient.
"There hasn't been hype here since SRL sold DR-70 tests for half price in India"
IMO, the reason SRL had the half price sale of the DR70 kits was the expiration date of the kits they had on hand. Those kits were obtained from Umesh Bhatia and were a part of a minimum purchase made by Gaur Diagno in Late 2011. I don't know what expiration Radient places on their test but the normal expiration of reagents in an ELISA kit other companies use is around 1 year.
The statement you made was from an 8k filed by Radient. Once again, Mac severely BENT the truth.
What Mac said was this:
A new independent scientific study published in the Oncogenesis, Inflammatory and Parasitic Tropical Diseases of the Lung edited by Jean-Marie Kayembe, ISBN 978-953-51-0982-2, published February 13, 2013, indicated that Onko-Sure® itself might contribute to confirm tumor diagnosis and to identify patients with advanced lung cancer, with high sensitivity (95.8%) and specificity (91.9%). This new data strengthens our views that Onko-Sure® can be used as a lung cancer screening tool.
What the article said was this.
"The data shows that DR70 itself might contribute to confirm tumour diagnosis and to
identify patients with advanced LC, with high sensitivity (Table 3). However, the test
would be better identifying negative LC cases with a high specificity and Negative
Predictive Value (NPV)."
What that means is that the false positives are so high, that a negative test result is much more accurate than a positive test.
The last trade for RXPC was yesterday, a one trade day for 320 shares to close out an account to be able to take a tax loss. The trade was at a price too low to even quote.
So far today, no trades.
Another ABSOLUTELY FALSE AND MISLEADING messasge by Blackpanther.
Blackpanther posted:
"NUVAX THERAPEUTICS 2.2. Therapeutic Vaccination
2.2.1. Therapeutic Antitumor Efficacy of Cellular Therapy at Low Doses
We evaluated two different doses of transfected cells,"
Here is what the REAL article stated. Notice that blackpanther inserted "NUVAX" into the article in the attempt to show activity within the defunk NUVAX.
2.2. Therapeutic Vaccination
2.2.1. Therapeutic Antitumor Efficacy of Cellular Therapy at Low Doses
We evaluated two different doses of transfected cells, 5 × 105 or 2 × 106 per dose, per mouse. The vaccination groups were: (a) control (the same volume of only DMEM as that employed to resuspend cells in each dose); (b) B16-p2FØ, 2 × 106; (c) B16-GM-CSF, 5 × 105; (d) B16-GM-CSF, 2 × 106; (e) B16-GM-CSF + B7.2, 5 × 105; and (f) B16-GM-CSF + B7.2, 2 × 106.
$0.00 320 OTO 10:04:47
The only trade today is 320 shares at less than $.0001 so that is clearly a broker closing out an account for a client so the client can take the tax loss. Much more of this will happen before the year end as dead stocks are cleared from accounts.
Mac is named in the lawsuit and he could have a judgement levied against him. If depends on how badly the jury wants to punish Mac for his misdeeds.
Mac never disclosed any information when the deal with the Mayo clinic changed from running trials on a new antibody to just being a purchase of blood samples.
Another ZERO trade day for RXPC.
I don't think Gartner ever wanted the license agreement until he was assured funding. He just wanted the transfer of manufacturing process. When he didn't pay anything, Mac probably didn't transfer the last of the information until some actual money changed hands. Gartner is also smart enough to know that no additional patent will ever be issued which is certain now that the responsibility of patent response has been transferred in the last license agreement.
In about 8 more months, the patents all expire and that is the last money for Radient.
lakeshore, my guess is that Mac waits right up until just before the trial and then declares chapter. He will then request a delay.
Dcspka, the quote by jimtash had nothing to do with RXPC.
Blackpanther stated: "this volume will pick up soon."
Well, almost done with the day and ZERO trades. I assume you will celebrate when you see a 3 trade day.
Blackpanther stated: "they don't have to because they get a waiver and they renamed it"
More false information from you. Your statement is absolutely NOT TRUE just like most of your information in other posts.
You were even stating that the Univ of Birmingham was doing something positive with DR70 when in fact their study concluded that the combination test with DR70 and CEA was NOT CLINICALLY USEFUL.