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NexMed Expands Scientific Advisory Board with Appointment of Key Industry Leaders
Date : 05/06/2010 @ 4:45PM
Source : Business Wire
Stock : NexMed, Inc. (NEXM)
http://ih.advfn.com/p.php?pid=nmona&article=42700421&symbol=N^NEXM
NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of products based on the NexACT® technology, today announced the appointments of Jack A. Reynolds, Ph.D and Daniel R. Salomon, M.D., to its newly formed Scientific Advisory Board (SAB), expanding the SAB to four members.
Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, noted, “We are delighted to welcome Jack and Dan to our SAB. Our ability to recruit such key leaders in the scientific and medical industries is a testament to the strength of our technology and product pipeline. Both Jack and Dan are distinguished leaders in their respective fields. We look forward to benefiting from their guidance going forward.”
Dr. Reynolds is currently Principal of JA Reynolds & Associates and General Managing Partner of Pharma Capital Partners, a private equity fund focused on the development of early-stage pharmaceutical assets. Dr. Reynolds spent a total of almost 18 years with the Pfizer Global Research and Development division, and over 30 years in the pharmaceutical industry. Until August 2006, he was Senior Vice President of Research and Development and Worldwide Head of Safety Sciences and Comparative Medicine. During his lengthy career, Dr. Reynolds has held leadership positions of increasing responsibility at Bristol-Myers Squibb, Bayer and Pfizer. He was also the Founding Director of the Center for Molecular Safety Sciences, a joint collaboration between the non-profit Hamner Center for Molecular Safety Sciences, Duke University and the University of North Carolina.
Dr. Salomon is currently medical director of the Center for Organ and Cell Transplantation for Scripps Health at Scripps Green Hospital and is an associate professor in the department of molecular and experimental medicine at The Scripps Research Institute. He currently serves as Chairman of the Tissue Engineering Committee for the American Society of Gene and Cell Therapy (ASGCT). Dr. Salomon’s research interests include; the investigation of how molecular mechanisms driving immune cell activation and tissue injury are regulated at the gene transcriptional and proteomic level and mapping molecular networks that relate to clinical outcomes in cell and organ transplantation. Dr. Salomon previously held the position of chair of the U.S. Food and Drug Administration's Biological Response Modifiers Advisory Committee and has served on multiple NIH study sections and special emphasis panels for over 15 years.
About NexMed:
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company's goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed has embarked on a partnering program to pair the NexACT delivery technology with drugs and drug candidates marketed and being developed by others, including NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information, go to www.nexmed.com and www.bio-quant.com.
NexMed Expands Scientific Advisory Board with Appointment of Key Industry Leaders
Date : 05/06/2010 @ 4:45PM
Source : Business Wire
Stock : NexMed, Inc. (NEXM)
http://ih.advfn.com/p.php?pid=nmona&article=42700421&symbol=N^NEXM
NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of products based on the NexACT® technology, today announced the appointments of Jack A. Reynolds, Ph.D and Daniel R. Salomon, M.D., to its newly formed Scientific Advisory Board (SAB), expanding the SAB to four members.
Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, noted, “We are delighted to welcome Jack and Dan to our SAB. Our ability to recruit such key leaders in the scientific and medical industries is a testament to the strength of our technology and product pipeline. Both Jack and Dan are distinguished leaders in their respective fields. We look forward to benefiting from their guidance going forward.”
Dr. Reynolds is currently Principal of JA Reynolds & Associates and General Managing Partner of Pharma Capital Partners, a private equity fund focused on the development of early-stage pharmaceutical assets. Dr. Reynolds spent a total of almost 18 years with the Pfizer Global Research and Development division, and over 30 years in the pharmaceutical industry. Until August 2006, he was Senior Vice President of Research and Development and Worldwide Head of Safety Sciences and Comparative Medicine. During his lengthy career, Dr. Reynolds has held leadership positions of increasing responsibility at Bristol-Myers Squibb, Bayer and Pfizer. He was also the Founding Director of the Center for Molecular Safety Sciences, a joint collaboration between the non-profit Hamner Center for Molecular Safety Sciences, Duke University and the University of North Carolina.
Dr. Salomon is currently medical director of the Center for Organ and Cell Transplantation for Scripps Health at Scripps Green Hospital and is an associate professor in the department of molecular and experimental medicine at The Scripps Research Institute. He currently serves as Chairman of the Tissue Engineering Committee for the American Society of Gene and Cell Therapy (ASGCT). Dr. Salomon’s research interests include; the investigation of how molecular mechanisms driving immune cell activation and tissue injury are regulated at the gene transcriptional and proteomic level and mapping molecular networks that relate to clinical outcomes in cell and organ transplantation. Dr. Salomon previously held the position of chair of the U.S. Food and Drug Administration's Biological Response Modifiers Advisory Committee and has served on multiple NIH study sections and special emphasis panels for over 15 years.
About NexMed:
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company's goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed has embarked on a partnering program to pair the NexACT delivery technology with drugs and drug candidates marketed and being developed by others, including NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information, go to www.nexmed.com and www.bio-quant.com.
PG : Day's Range 39.37 - 62.67
http://us.rd.yahoo.com/finance/external/xbarronsblog/SIG=12uu0g9g2/*http%3A//blogs.barrons.com/stockstowatchtoday/2010/05/06/a-glitch-procter-gamble-tumbled-30/?mod=yahoobarrons
http://us.rd.yahoo.com/finance/external/xbwsj/SIG=12te3m9ja/*http%3A//blogs.wsj.com/marketbeat/2010/05/06/procter-gamble-something-strange-was-going-on/?mod=yahoo_hs
... http://www.finviz.com/quote.ashx?t=pg&ty=c&ta=0&p=d
3:54 PM CNBC: A human trading error at a major firm could have caused the market selloff.
http://www.theflyonthewall.com/permalinks/entry.php/PG;MMMid1239849/PG;MMM-Trading-error-could-have-triggered-major-selloff-CNBC-says
Read more: http://www.nasdaq.com/aspx/latest-news-headlines.aspx#ixzz0nBIoSYU4
Wall Street washout ...glitch in P&G
U.S. stocks suffer a bruising selloff, with some pointing to a possible glitch in P&G shares traded on the NYSE as a contributing factor.
http://www.marketwatch.com/
KERX - 3x Phase 3 ongoing, under SPA !!!
Keryx Biopharmaceuticals Initiates Phase 3 Registration Program of Zerenex (ferric citrate) for the Treatment of Patients with Hyperphosphatemia
Date : 05/06/2010 @ 8:00AM
Source : PR Newswire
Stock : Keryx Biopharmaceuticals (MM) (KERX)
http://ih.advfn.com/p.php?pid=nmona&article=42688680&symbol=KERX
Program conducted pursuant to Special Protocol Assessment Agreement with Food and Drug Administration
PR Newswire
NEW YORK, May 6
NEW YORK, May 6 /PRNewswire-FirstCall/ --
Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced today the initiation of its short-term Phase 3 study of Zerenex™ (ferric citrate), the Company's iron-based phosphate binder for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease on dialysis. The initiation of this study marks the commencement of the Company's Phase 3 registration program for Zerenex, which is being conducted in accordance with a Special Protocol Assessment (SPA) agreement with the FDA. Pursuant to the Company's SPA agreement, the Zerenex Phase 3 registration program will consist of the short-term efficacy study initiated today, and 58-week long-term safety and efficacy study, to be initiated in the third quarter of 2010. Patients completing the short term study are eligible to be enrolled into the long-term study.
The short-term efficacy study initiated today is a multicenter, randomized, open-label clinical trial with a planned enrollment of approximately 150 patients on hemodialysis. All patients will undergo a 2-week washout period, following which the patients will be randomized 1:1:1 to receive a fixed dose of Zerenex (1 gram, 6 grams or 8 grams per day) for a treatment period of 28 days. The primary endpoint of the study is to demonstrate a dose response in the change of serum phosphorous from baseline (end of washout period) to end of the treatment period (day 28). Approximately 15 sites in the U.S. will participate in the study. Patient enrollment is expected to take up to 6 months, with study completion expected by the end of 2010.
Dr. Julia Lewis, Professor of Medicine, Department of Nephrology, Vanderbilt University School of Medicine, and member of the Executive Committee of the Collaborative Study Group, will be the Study Chair of the Zerenex Phase 3 registration program. Dr. Samuel S. Blumenthal, Professor of Medicine at Medical College of Wisconsin, will serve as the study's Co-Principal Investigator.
Dr. Julia Lewis commented, "I am pleased to be leading the registration program for Zerenex. The clinical data generated to date suggests that Zerenex is an effective, safe and well-tolerated phosphate binder which we expect is differentiated from other marketed therapies by its iron composition and potential dosing convenience. We are hopeful that this Phase 3 registration program of Zerenex will lead to a new treatment option for hyperphosphatemia benefiting patients with end-stage renal disease."
Ron Bentsur, Chief Executive Officer of Keryx , commented, "We are very excited about the initiation of the Zerenex Phase 3 program and look forward to generating Phase 3 data from this study later this year." Mr. Bentsur, continued, "We believe that Zerenex could emerge with the attributes to capture meaningful market share in a worldwide phosphate binder market approaching $1.5 billion. Finally, I want to thank the study investigators for their tremendous support and guidance."
Keryx expects to complete the Zerenex Phase 3 program and file a New Drug Application for Zerenex for the treatment of hyperphosphatemia in the first half of 2012.
Keryx Biopharmaceuticals retains a worldwide exclusive license (except for the Asian Pacific Region) to Zerenex (ferric citrate) from Panion & BF Biotech, Inc. The Company has sublicensed the development of ferric citrate in Japan to Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd.
PHASE 3 TRIAL DESIGN:
In accordance with the Company's SPA agreement with the FDA, the Phase 3 clinical program for Zerenex will consist of two clinical studies, as follows:
Short-term efficacy study: A multicenter, randomized, open-label clinical trial with a planned enrollment of approximately 150 patients on hemodialysis, who will be randomized to fixed doses of Zerenex, ranging from 1 gram per day to 8 grams per day, for a treatment period of 28 days. Patients will undergo a 2-week washout period prior to randomization. The primary endpoint of the study will be to demonstrate a dose response in the change of serum phosphorous from baseline (end of washout period) to end of the treatment period (day 28).
Long-term safety and efficacy study: A multicenter, randomized, open-label, safety and efficacy clinical trial with a planned enrollment of approximately 300 patients on hemodialysis or peritoneal dialysis. The long term study will consist of a 2-week washout period followed by a 52-week safety assessment in which patients will be randomized 2:1 to receive either Zerenex or another phosphate binder. The 52-week safety assessment will be followed by a 4-week efficacy assessment in which only patients randomized to treatment with Zerenex during the safety assessment will be randomized to continue treatment with either Zerenex or placebo for a 4-week period.
About Special Protocol Assessments
The Special Protocol Assessment (SPA) process is a procedure by which the FDA provides official evaluation and written guidance on the design and size of proposed protocols that are intended to form the basis for a new drug application.
Final marketing approval depends on the results of efficacy, the adverse event profile and an evaluation of the benefit/risk of treatment demonstrated in the Phase 3 clinical program. The SPA agreement may only be changed through a written agreement between the sponsor and the FDA, or if the FDA becomes aware of a substantial scientific issue essential to product efficacy or safety. For more information on Special Protocol Assessment, please visit: http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/ucm080571.pdf.
About Hyperphosphatemia
In the United States, according to data from the U.S. Renal Data System, there are approximately 485,000 patients with end-stage renal disease, or ESRD, and the number of ESRD patients is projected to rise 60% to approximately 785,000 by 2020. The majority of ESRD patients, close to 400,000, require dialysis. Phosphate retention and the resulting hyperphosphatemia in patients with ESRD on dialysis are usually associated with secondary hyperparathyroidism (and its related cardiovascular complications), renal osteodystrophy and soft tissue mineralization. ESRD patients usually require treatment with phosphate-binding agents to lower and maintain serum phosphorus at acceptable levels. The need for alternative phosphate-binding agents has long been recognized, especially given the increasing prevalence of ESRD as well as shortcomings with current therapies. Zerenex has the potential to be an effective and safe treatment in lowering and/or maintaining normal serum phosphorus levels in patients with ESRD and hyperphosphatemia.
The market for phosphate binders to treat hyperphosphatemia in ESRD patients in 2009 was approximately $750 million and $1.3 billion in the U.S. and worldwide, respectively.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of life-threatening diseases, including cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, and also affects a number of other key signal transduction pathways, including the JNK pathway, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies. KRX-0401 is currently in Phase 3 clinical development for both refractory advanced colorectal cancer and multiple myeloma, and in Phase 1 and 2 clinical development for several other tumor types. Each of the KRX-0401 Phase 3 programs are being conducted under Special Protocol Assessment (SPA) agreements with the FDA. Keryx is also developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex in the treatment for hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is being conducted pursuant to an SPA agreement with the FDA. Keryx is headquartered in New York City.
Cautionary Statement
Some of the statements included in this press release, particularly those anticipating future clinical trials and business prospects for Zerenex™ may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully and cost-effectively complete clinical trials for Zerenex™; the risk that the data (both safety and efficacy) from the Phase 3 trials will not coincide with the data analyses from the Phase 2 clinical trials previously reported by the Company; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information found on our website and the FDA website is not incorporated by reference into this press release and is included for reference purposes only.
KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5965
E-mail: lfischer@keryx.com
SOURCE Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals Initiates Phase 3 Registration Program of Zerenex (ferric citrate) for the Treatment of Patients with Hyperphosphatemia
Date : 05/06/2010 @ 8:00AM
Source : PR Newswire
Stock : Keryx Biopharmaceuticals (MM) (KERX)
http://ih.advfn.com/p.php?pid=nmona&article=42688680&symbol=KERX
Program conducted pursuant to Special Protocol Assessment Agreement with Food and Drug Administration
PR Newswire
NEW YORK, May 6
NEW YORK, May 6 /PRNewswire-FirstCall/ --
Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced today the initiation of its short-term Phase 3 study of Zerenex™ (ferric citrate), the Company's iron-based phosphate binder for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease on dialysis. The initiation of this study marks the commencement of the Company's Phase 3 registration program for Zerenex, which is being conducted in accordance with a Special Protocol Assessment (SPA) agreement with the FDA. Pursuant to the Company's SPA agreement, the Zerenex Phase 3 registration program will consist of the short-term efficacy study initiated today, and 58-week long-term safety and efficacy study, to be initiated in the third quarter of 2010. Patients completing the short term study are eligible to be enrolled into the long-term study.
The short-term efficacy study initiated today is a multicenter, randomized, open-label clinical trial with a planned enrollment of approximately 150 patients on hemodialysis. All patients will undergo a 2-week washout period, following which the patients will be randomized 1:1:1 to receive a fixed dose of Zerenex (1 gram, 6 grams or 8 grams per day) for a treatment period of 28 days. The primary endpoint of the study is to demonstrate a dose response in the change of serum phosphorous from baseline (end of washout period) to end of the treatment period (day 28). Approximately 15 sites in the U.S. will participate in the study. Patient enrollment is expected to take up to 6 months, with study completion expected by the end of 2010.
Dr. Julia Lewis, Professor of Medicine, Department of Nephrology, Vanderbilt University School of Medicine, and member of the Executive Committee of the Collaborative Study Group, will be the Study Chair of the Zerenex Phase 3 registration program. Dr. Samuel S. Blumenthal, Professor of Medicine at Medical College of Wisconsin, will serve as the study's Co-Principal Investigator.
Dr. Julia Lewis commented, "I am pleased to be leading the registration program for Zerenex. The clinical data generated to date suggests that Zerenex is an effective, safe and well-tolerated phosphate binder which we expect is differentiated from other marketed therapies by its iron composition and potential dosing convenience. We are hopeful that this Phase 3 registration program of Zerenex will lead to a new treatment option for hyperphosphatemia benefiting patients with end-stage renal disease."
Ron Bentsur, Chief Executive Officer of Keryx , commented, "We are very excited about the initiation of the Zerenex Phase 3 program and look forward to generating Phase 3 data from this study later this year." Mr. Bentsur, continued, "We believe that Zerenex could emerge with the attributes to capture meaningful market share in a worldwide phosphate binder market approaching $1.5 billion. Finally, I want to thank the study investigators for their tremendous support and guidance."
Keryx expects to complete the Zerenex Phase 3 program and file a New Drug Application for Zerenex for the treatment of hyperphosphatemia in the first half of 2012.
Keryx Biopharmaceuticals retains a worldwide exclusive license (except for the Asian Pacific Region) to Zerenex (ferric citrate) from Panion & BF Biotech, Inc. The Company has sublicensed the development of ferric citrate in Japan to Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd.
PHASE 3 TRIAL DESIGN:
In accordance with the Company's SPA agreement with the FDA, the Phase 3 clinical program for Zerenex will consist of two clinical studies, as follows:
Short-term efficacy study: A multicenter, randomized, open-label clinical trial with a planned enrollment of approximately 150 patients on hemodialysis, who will be randomized to fixed doses of Zerenex, ranging from 1 gram per day to 8 grams per day, for a treatment period of 28 days. Patients will undergo a 2-week washout period prior to randomization. The primary endpoint of the study will be to demonstrate a dose response in the change of serum phosphorous from baseline (end of washout period) to end of the treatment period (day 28).
Long-term safety and efficacy study: A multicenter, randomized, open-label, safety and efficacy clinical trial with a planned enrollment of approximately 300 patients on hemodialysis or peritoneal dialysis. The long term study will consist of a 2-week washout period followed by a 52-week safety assessment in which patients will be randomized 2:1 to receive either Zerenex or another phosphate binder. The 52-week safety assessment will be followed by a 4-week efficacy assessment in which only patients randomized to treatment with Zerenex during the safety assessment will be randomized to continue treatment with either Zerenex or placebo for a 4-week period.
About Special Protocol Assessments
The Special Protocol Assessment (SPA) process is a procedure by which the FDA provides official evaluation and written guidance on the design and size of proposed protocols that are intended to form the basis for a new drug application.
Final marketing approval depends on the results of efficacy, the adverse event profile and an evaluation of the benefit/risk of treatment demonstrated in the Phase 3 clinical program. The SPA agreement may only be changed through a written agreement between the sponsor and the FDA, or if the FDA becomes aware of a substantial scientific issue essential to product efficacy or safety. For more information on Special Protocol Assessment, please visit: http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/ucm080571.pdf.
About Hyperphosphatemia
In the United States, according to data from the U.S. Renal Data System, there are approximately 485,000 patients with end-stage renal disease, or ESRD, and the number of ESRD patients is projected to rise 60% to approximately 785,000 by 2020. The majority of ESRD patients, close to 400,000, require dialysis. Phosphate retention and the resulting hyperphosphatemia in patients with ESRD on dialysis are usually associated with secondary hyperparathyroidism (and its related cardiovascular complications), renal osteodystrophy and soft tissue mineralization. ESRD patients usually require treatment with phosphate-binding agents to lower and maintain serum phosphorus at acceptable levels. The need for alternative phosphate-binding agents has long been recognized, especially given the increasing prevalence of ESRD as well as shortcomings with current therapies. Zerenex has the potential to be an effective and safe treatment in lowering and/or maintaining normal serum phosphorus levels in patients with ESRD and hyperphosphatemia.
The market for phosphate binders to treat hyperphosphatemia in ESRD patients in 2009 was approximately $750 million and $1.3 billion in the U.S. and worldwide, respectively.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of life-threatening diseases, including cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, and also affects a number of other key signal transduction pathways, including the JNK pathway, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies. KRX-0401 is currently in Phase 3 clinical development for both refractory advanced colorectal cancer and multiple myeloma, and in Phase 1 and 2 clinical development for several other tumor types. Each of the KRX-0401 Phase 3 programs are being conducted under Special Protocol Assessment (SPA) agreements with the FDA. Keryx is also developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex in the treatment for hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is being conducted pursuant to an SPA agreement with the FDA. Keryx is headquartered in New York City.
Cautionary Statement
Some of the statements included in this press release, particularly those anticipating future clinical trials and business prospects for Zerenex™ may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully and cost-effectively complete clinical trials for Zerenex™; the risk that the data (both safety and efficacy) from the Phase 3 trials will not coincide with the data analyses from the Phase 2 clinical trials previously reported by the Company; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information found on our website and the FDA website is not incorporated by reference into this press release and is included for reference purposes only.
KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5965
E-mail: lfischer@keryx.com
SOURCE Keryx Biopharmaceuticals, Inc.
...next one please this one!
http://investorshub.advfn.com/boards/board.aspx?board_id=2966
Surfaxin LS(TM) Improves Pulmonary Function and Reduces Lung Inflammation in Established Model of Respiratory Distress Syndrome
Date : 05/05/2010 @ 6:00AM
Source : GlobeNewswire Inc.
Stock : Discovery Laboratories, Inc. (DSCO)
http://ih.advfn.com/p.php?pid=nmona&article=42667217&symbol=N^DSCO
WARRINGTON, Pa., May 5, 2010
GLOBE NEWSWIRE
Discovery Laboratories, Inc. (Nasdaq:DSCO), announced that new data regarding Surfaxin LSTM (its novel, lyophilized KL4 surfactant dosage form) were presented at the 2010 Pediatric Academic Societies (PAS) Annual Meeting. The two studies presented demonstrate that Surfaxin LS improves lung function and oxygenation while attenuating lung inflammation in the preterm lamb model of respiratory distress syndrome (RDS). The preterm lamb model is recognized by the neonatal scientific community as an acceptable and well-established animal model of RDS in human preterm infants. The PAS Annual Meeting is internationally recognized as the largest, most relevant medical meeting dedicated to pediatric research.
Dr. Robert Segal, Senior Vice President and Chief Medical Officer of Discovery Labs, commented, "Surfaxin®, our lead product for RDS, has demonstrated a very favorable clinical profile and could potentially be approved by the FDA in 2011 for the prevention of RDS in premature infants. We have also been working with leading neonatology research centers to characterize the pharmacologic profile of our novel lyophilized KL4 surfactant, our second generation surfactant product candidate that we refer to as Surfaxin LS. Our strategy for Surfaxin LS development is to build upon the Surfaxin clinical experience to create a best-in-class product with improved preparation and administration flexibility with the potential to improve clinical performance by reducing potentially unfavorable peri-dosing events."
The following studies were presented:
Lyophilized KL4 Surfactant Sustains Oxygenation and Attenuates Inflammation Versus Animal- Derived Surfactant Replacement Therapy (SRT) in Ventilated-Hyperoxic Respiratory Distress (RDS) Model; Marla R Wolfson, et al.
*
The objective of this study was to compare lyophilized KL4 surfactant to commercially available animal-derived surfactants with regard to improvements in pulmonary function (lung compliance, functional residual capacity and ventilator support requirements), integrity of lung tissue structure (assessed histologically), and the potential impact on inflammatory mediators in preterm lambs with RDS.
*
Compared with untreated controls, treatment with lyophilized KL4 surfactant resulted in significant improvements in pulmonary function (p < 0.05), significantly better microscopic lung tissue structure (p < 0.05), and a significant reduction in two potent inflammatory mediators: interleukin (IL) – 8 and myeloperoxidase (p < 0.05). Significant improvements in pulmonary function were observed in lambs treated with the animal-derived surfactants, Survanta® and Curosurf®, compared with controls (p < 0.05); however, oxygenation was significantly improved in lambs treated with lyophilized KL4 surfactant compared with those treated with comparator animal-derived surfactants (p < 0.05).
*
The investigators concluded that lyophilized KL4 surfactant improved oxygenation and attenuated lung inflammation in preterm lambs with RDS to a greater extent than animal-derived surfactants. These data suggest that lyophilized KL4 surfactant may mitigate the progression of RDS to bronchopulmonary disease (BPD) and, as a lyophilized formulation, may expand flexibility of use and patient access.
Comprehensive Comparison of Poractant Alfa and Lyophilized KL4 Surfactant in a Preterm Lamb Model of Respiratory Distress Syndrome; Arlin B. Blood, et al
*
The objective of this study was to compare the effects of lyophilized KL4 surfactant and poractant alfa (Curosurf) on pulmonary function and peri-dosing associated effects of surfactant administration in preterm lambs with RDS.
*
Both surfactants significantly improved pulmonary function (p < 0.05). However, lambs treated with lyophilized KL4 surfactant required significantly lower mechanical ventilator pressures to maintain pulmonary function compared with Curosurf-treated lambs (p < 0.05).
*
In contrast to lambs treated with lyophilized KL4 surfactant, lambs treated with Curosurf experienced significant reductions in heart rate and rapidly increased brain oxygenation during the peri-dosing period (p < 0.05).
*
The investigators concluded that the lyophilized KL4 surfactant may enable ventilation at lower mean airway pressures which may reduce the incidence of chronic lung disease and as such may be an effective substitute for the currently marketed surfactant products.
Dr. Segal continued, "These two studies indicate that Surfaxin LS favorably improves lung physiology and attenuates lung inflammation, which may reduce the risk for chronic lung disease. Additionally, we believe that Dr. Blood's observations with respect to heart rate and brain oxygenation suggest that lyophilized KL4 surfactant may also support a reduction in potentially unfavorable peri-dosing events following surfactant administration. These observations, coupled with the flexibility and anticipated ease of use of a reconstituted, lyophilized product represent a potentially meaningful improvement in this class of drugs relative to currently marketed surfactants. We look forward to continued advancement of the Surfaxin LS program."
About SURFAXIN and SURFAXIN LS
Surfaxin and Surfaxin LS are investigational products that have not been approved by the U.S. Food and Drug Administration or any other world health regulatory authority. The study results listed above include information that may be of interest to healthcare practitioners; however, the clinical relevance of these results has not been fully established and further scientific investigation may be warranted.
About The Pediatric Academic Societies Annual Meeting
The Pediatric Academic Societies (PAS) consists of the American Pediatric Society, the Society for Pediatric Research and the Ambulatory Pediatric Association. The PAS annual meeting is recognized as the largest, most prestigious meeting dedicated to pediatric research and education in the world and brings together scientists and physicians with expertise in all areas of pediatrics. More than 5,000 pediatric healthcare providers, including approximately 1,100 neonatologists attend this meeting annually.
About Discovery Labs
Discovery Laboratories, Inc. is a biotechnology company developing surfactant therapies for respiratory diseases. Surfactants are produced naturally in the lungs and are essential for breathing. Discovery Labs' novel proprietary KL4 surfactant technology produces a synthetic, peptide-containing surfactant that is structurally similar to pulmonary surfactant and is being developed in liquid, aerosol or lyophilized formulations. In addition, Discovery Labs' proprietary capillary aerosolization technology produces a dense aerosol, with a defined particle size that is capable of potentially delivering aerosolized KL4 surfactant to the deep lung without the complications currently associated with liquid surfactant administration. Discovery Labs believes that its proprietary technology platform makes it possible, for the first time, to develop a significant pipeline of surfactant products to address a variety of respiratory diseases for which there frequently are few or no approved therapies. For more information, please visit our website at www.Discoverylabs.com.
Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Examples of such risks and uncertainties are: risks relating to the rigorous regulatory requirements required for approval of any drug or drug-device combination products that Discovery Labs may develop, including that: (a) Discovery Labs and the U.S. Food and Drug Administration (FDA) or other regulatory authorities will not be able to agree on the matters raised during regulatory reviews, or Discovery Labs may be required to conduct significant additional activities to potentially gain approval of its product candidates, if ever, (b) the FDA or other regulatory authorities may not accept or may withhold or delay consideration of any of Discovery Labs' applications, or may not approve or may limit approval of Discovery Labs' products to particular indications or impose unanticipated label limitations, and (c) changes in the national or international political and regulatory environment may make it more difficult to gain FDA or other regulatory approval; risks relating to Discovery Labs' research and development activities, including (i) time-consuming and expensive pre-clinical studies, clinical trials and other efforts, which may be subject to potentially significant delays or regulatory holds, or fail, and (ii) the need for sophisticated and extensive analytical methodologies, including an acceptable biological activity test, if required, as well as other quality control release and stability tests to satisfy the requirements of the regulatory authorities; risks relating to Discovery Labs' ability to develop and manufacture drug products and capillary aerosolization systems for clinical studies, and, if approved, for commercialization of drug and combination drug-device products, including risks of technology transfers to contract manufacturers and problems or delays encountered by Discovery Labs, its contract manufacturers or suppliers in manufacturing drug products, drug substances and capillary aerosolization systems on a timely basis or in an amount sufficient to support Discovery Labs' development efforts and, if approved, commercialization; the risk that Discovery Labs may be unable to identify potential strategic partners or collaborators to develop and commercialize its products, if approved, in a timely manner, if at all; the risk that Discovery Labs will not be able in a changing financial market to raise additional capital or enter into strategic alliances or collaboration agreements, or that the ongoing credit crisis will adversely affect the ability of Discovery Labs to fund its activities, or that additional financings could result in substantial equity dilution; the risk that Discovery Labs will not be able to access credit from its committed equity financing facilities (CEFFs), or that the minimum share price at which Discovery Labs may access the CEFFs from time to time will prevent Discovery Labs from accessing the full dollar amount potentially available under the CEFFs; the risk that Discovery Labs or its strategic partners or collaborators will not be able to retain, or attract, qualified personnel; the risk that Discovery Labs will be unable to regain compliance with The Nasdaq Global Market listing requirements prior to the expiration of the grace period currently in effect, which could cause the price of Discovery Labs' common stock to decline; the risk that recurring losses, negative cash flows and the inability to raise additional capital could threaten Discovery Labs' ability to continue as a going concern; the risks that Discovery Labs may be unable to maintain and protect the patents and licenses related to its products, or other companies may develop competing therapies and/or technologies, or health care reform may adversely affect Discovery Labs; risks of legal proceedings, including securities actions and product liability claims; risks relating to health care reform; and other risks and uncertainties described in Discovery Labs' filings with the Securities and Exchange Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.
CONTACT: Discovery Laboratories, Inc.
John G. Cooper, EVP and Chief Financial Officer
215-488-9300
NexMed Announces Patent Allowance for NexACT® in Canada
Date : 05/05/2010 @ 4:36PM
Source : Business Wire
Stock : NexMed, Inc. (NEXM)
http://ih.advfn.com/p.php?pid=nmona&article=42678794&symbol=NEXM
NexMed, Inc. (NASDAQ: NEXM), a specialty CRO with a pipeline of products based on the NexACT® technology, today announced that the Canadian Patent Office has issued a Notice of Allowance for NexMed’s patent application entitled, “Crystalline Salts of Dodecyl 2-(N,N-Dimethylamino)-Propionate.” This patent, when issued, will provide Canadian patent protection to May 2020, and is one in a series of patents and pending applications that NexMed owns on the NexACT technology and NexACT-based products under development.
Commenting on today’s news, Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, stated, “The Company has a strong intellectual property position. In addition to the allowance in Canada, we have corresponding coverage and protection for our NexACT technology in the U.S. and other major markets. As we pursue our growth goals, we are aggressively seeking to expand the patent coverage for NexACT and to protect its potential for delivering new classes of drugs and/or via new routes of administration such as oral or subcutaneous delivery.”
About NexMed, Inc.
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company’s goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information on NexMed and its subsidiaries, visit the following websites: http://www.nexmed.com or http://www.bio-quant.com.
Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company including but not limited to its ability to obtain and/or enforce patent coverage in major markets.
Canadian Superior Energy Inc. Announces Departure of COO
Date : 05/04/2010 @ 6:35PM
Source : MarketWire
http://ih.advfn.com/p.php?pid=nmona&article=42660328&symbol=SNG
CALGARY, ALBERTA -- (Marketwire)
05/04/10
Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX: SNG) (NYSE Amex: SNG) today announced that Leif Snethun, Chief Operating Officer, will be leaving the company effective May 4, 2010.
"On behalf of Canadian Superior's Board of Directors, I would like to thank Leif for his contributions to the company, and wish him well for the future," said Marvin Chronister, Chairman of the Board.
Mr. Snethun was appointed as the Chief Operating Officer on April 30, 2009. He initially joined the company in February 2008 as Vice President, Western Canada. Until a replacement is in place, Mr. Snethun's portfolio will be managed by Mr. Bill Dirks, who has been retained by Canadian Superior on a consulting basis, with the support of Canadian Superior's Board of Directors.
Bill Dirks has 29 years of E&P leadership experience, with an expertise in the North American onshore basins of the US and Canada. His recent background includes roles as Managing Partner of Tecton Energy, LLC, a privately-owned E&P company he co-founded, (2006-2009); President of Samson Canada Ltd., (2002-2005), and Vice President of Business Development for Samson Resources (2001-2002). From 1981-1999 he worked for the Royal Dutch / Shell Group of companies in a variety of roles, including President and Chief Executive Officer of Shell Technology Ventures Inc., Division Manager of Shell's Onshore U.S. Exploration Division, District Manager of the Deepwater Gulf of Mexico Division, and Manager and Budget Coordinator of Shell Oil Co. E&P Finance.
About Canadian Superior
Canadian Superior Energy Inc. is a Calgary, Alberta, Canada based diversified global energy company engaged in the exploration and production of oil and natural gas and in the development of a liquefied natural gas ("LNG") project. Its operations are located offshore Trinidad and Tobago, Western Canada, North Africa, offshore Eastern Canada, and offshore Eastern United States. See Canadian Superior's website at www.cansup.com to review further detail on Canadian Superior's operations.
This news release contains forward-looking information, including the expectation of successful future results. Actual results could differ materially due to changes in project schedules, commercial negotiations, changes in energy pricing, unforeseen technical or the inability to raise additional capital, therefore there can be no assurance that any of the foregoing actions by the Company will be completed as contemplated. Forward-looking information contained in this news release is as of the date of this news release. The Company assumes no obligation to update and/or revise this forward-looking information except as required by law.
Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses, schedules or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company's annual reports on Form 40-F or Form 20-F on file with the U.S. Securities and Exchange Commission.
Contacts:
Canadian Superior Energy Inc.
Investor Relations
(403) 294-1411
(403) 216-2374 (FAX)
www.cansup.com
Canadian Superior Energy Inc.
Suite 3200, 500 - 4th Avenue S.W.
Calgary, Alberta, Canada
T2P 2V6
Sunrise Senior Living, Inc. Q1/2010 Earnings Call Transcript
May 04, 2010
http://seekingalpha.com/article/202780-sunrise-senior-living-inc-q1-2010-earnings-call-transcript?source=feed
Dr. Robert Pokorski Named Chief Medical Strategist For The Hartford’s Individual Life Insurance Division
Date : 05/04/2010 @ 11:44AM
Source : Business Wire
Stock : The Hartford (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=42653160&symbol=HIG
Dr. Robert Pokorski, an internationally renowned medical underwriting expert, has joined The Hartford’s Individual Life Division as its Chief Medical Strategist. In this newly created position, Dr. Pokorski will educate advisors and consumers about medical advancements that are improving the longevity, quality of life, and insurability of Americans.
“Too many Americans assume they cannot purchase life insurance if they have been treated for a serious illness,” Dr. Pokorski said. “But that assumption is often outdated and simply wrong. For example, many people who have been successfully treated for cancer and heart attacks have the same life expectancy as people their age who have been given a clean bill of health by their doctor.”
Dr. Pokorski has worked full-time in the insurance industry since 1982, specializing in underwriting, mortality research, and product design. He has written more than 130 medical and insurance articles, including papers published in Nature, Cancer, The American Journal of Human Genetics, and The Yale Journal of Biology and Medicine, and has delivered more than 350 technical presentations to audiences worldwide. He has also served on the editorial boards of the North American Actuarial Journal and the Journal of Insurance Medicine. In 1995, he served as Chairman of the American Council of Life Insurance Medical Section.
He earned an MBA from Heriot-Watt University in Edinburgh, Scotland, and a doctorate of medicine from Creighton University School of Medicine in Omaha, Nebraska. In addition, Dr. Pokorski is certified as a fellow by the American College of Physicians, the Board of Insurance Medicine, and the American Board of Internal Medicine.
According to Brian Murphy, Executive Vice President of The Hartford’s Individual Life Division, the decision to hire a Chief Medical Strategist stems from the company’s progressive approach to underwriting which resulted in The Hartford becoming the first in the industry to offer life insurance at standard rates to qualified women who have recovered from certain kinds of breast cancer and qualified men who have been successfully treated for prostate cancer. “Dr. Robert Pokorski is a leader in his field and is the perfect person to lead our effort to, whenever and wherever possible, make life insurance available to those who want it.”
In addition to educating advisors and consumers, Dr. Pokorski will analyze morbidity and mortality; work with the current medical staff to provide training seminars and education for underwriters; and support the company’s field sales force in its efforts to convey the advantages of the company’s progressive underwriting capabilities to financial advisors and independent agents.
About The Hartford
Celebrating nearly 200 years of helping its customers achieve what’s ahead, The Hartford (NYSE: HIG) is an insurance and wealth management company. Through its unique focus on customer needs, the company serves businesses and consumers by providing the products and solutions they need to protect their assets and income from risks and manage their wealth and retirement needs. A Fortune 100 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
Life insurance products are issued by Hartford Life Insurance Company (New York) and Hartford Life and Annuity Insurance Company (outside New York), Simsbury, CT. Mailing address for both issuers is P.O. Box 2999, Hartford, CT 06104-2999.
HIG- LIF 11625
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2007 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
Securities Registration Statement (S-1)
Date : 05/03/2010 @ 4:40PM
Source : Edgar (US Regulatory)
Pg7: http://ih.advfn.com/p.php?pid=nmona&article=42638759&symbol=NB^NWCI
Trading Market
Our common stock is quoted on the Over-The-Counter Bulletin Board under the symbol “NWCI.OB.” None of our warrants are listed or traded on a national securities exchange or market. If this registered offering is fully subscribed, we believe we will meet the listing requirements for the NASDAQ Capital Market and we intend to file a listing application for our common stock, warrants and the units (common stock and warrants) that will be issued in connection with this offering, immediately upon or in conjunction with the completion of the offering.
Sunrise Reports Financial Results for First Quarter of 2010
Date : 05/04/2010 @ 6:00AM
Source : PR Newswire
Stock : Sunrise Senior Living (SRZ)
http://ih.advfn.com/p.php?pid=nmona&article=42644806&symbol=SRZ
PR Newswire
MCLEAN, Va., May 4
MCLEAN, Va., May 4 /PRNewswire-FirstCall/ --
Sunrise Senior Living, Inc. (NYSE: SRZ) today reported financial results and operating data for the first quarter of 2010. Sunrise will host a conference call and webcast Tuesday, May 4, 2010 at 8:00 a.m. ET, to discuss the financial results.
"In this quarter we continued our operations and balance sheet restructuring efforts to move us toward strengthening our core business results while reducing corporate risk," said Mark Ordan, Sunrise's chief executive officer. "Our progress in both areas reinforces our optimism about our future."
Financial Results for First-Quarter 2010
Sunrise reported revenues of $355.2 million in the first quarter of 2010 as compared to $374.7 million for the first quarter of 2009. Net loss for the first quarter of 2010 was ($16.0) million, or ($0.29) per fully diluted share, as compared to net loss of ($18.2) million, or ($0.36) per fully diluted share, for the first quarter of 2009.
For the first quarter of 2010, net loss from operations was ($10.6) million, an improvement of $30.4 million as compared to a net loss from operations of ($41.0) million in the first quarter of 2009. Adding back non-cash charges including depreciation and amortization of $8.5 million, provision for doubtful accounts of $1.1 million, stock compensation of $0.9 million and impairment of long-lived assets of $0.7 million, as well as non-recurring items including the SEC investigation costs of $58,000 and restructuring costs of $4.9 million, the adjusted income from ongoing operations was $5.6 million as compared to $3.7 million in the first quarter of 2009. Adjusted income from ongoing operations is a measure of operating performance that is not calculated in accordance with U.S. GAAP and should not be considered as a substitute for income or loss from operations or net income or loss. Adjusted income from ongoing operations is used by management to focus on income generated from the ongoing operations of the Company and to help management assess if adjustments to current spending decisions are needed. For a reconciliation of these items, please refer to the attached table "Adjusted Income from Ongoing Operations."
Cash and Liquidity Update
Sunrise had $46.5 million of unrestricted cash at March 31, 2010. Sunrise has no borrowing availability under its bank credit facility, and has significant scheduled debt maturities in 2010 and significant debt that is in default. As of March 31, 2010, Sunrise had debt of $424.2 million, of which $147.1 million of debt is scheduled to mature in 2010, including $33.4 million under its bank credit facility, which is due in December 2010. Debt that is in default totals $241.3 million, including $187.1 million of debt ($200.4 million face) that is in default as a result of the failure to pay principal and interest to the lenders of Sunrise's German communities and $25.6 million of U.S. debt that is due to one of our German lenders. In April 2010, the German debt was restructured, as discussed below. Sunrise is seeking waivers with respect to existing defaults to avoid acceleration of these obligations.
Germany
On April 29, 2010, Sunrise announced that the Company and certain of its affiliates had completed the previously announced restructure transactions with three of the lenders to its German subsidiaries, Capmark Finance Inc., Natixis London Branch, and Fortis Bank, UK Branch. Sunrise also announced that it has entered into a partial settlement and waiver declaration with Aareal Bank AG, pursuant to which Sunrise will be released from its guarantee obligations with respect to loans previously made by Aareal to certain of Sunrise's German subsidiaries in exchange for, among other things, a cash payment of euro 2.1 million (approximately $2.8 million).
On May 3, 2010, Sunrise announced that the Company has entered into a settlement agreement with Barclays Bank PLC providing for the settlement and release of all existing and potential future claims of Barclays against Sunrise under Sunrise's guarantee obligations with respect to loans previously made by Barclays to certain of Sunrise's German subsidiaries. In exchange, Sunrise shall, among other things, pay Barclays a principal amount of approximately euro 7.5 million (or approximately $9.9 million) without interest (except in the case of default by Sunrise).
Sunrise has now reached agreements with all of its lenders to its nine German communities. Additional details on these agreements have been included in Sunrise's Current Reports on Form 8-K filed on April 29, 2010 and May 3, 2010, respectively. As a result of these transactions, Sunrise expects to recognize a gain of approximately $50 million in the second and third quarters of 2010.
Comparable Community Operating Data for First-Quarter 2010
The nine German communities have been excluded from Sunrise's first-quarter 2010 comparable community operating results set forth below because they are considered discontinued operations. The five remaining Fountains communities have also been excluded as Sunrise will transition from management in the second quarter of 2010. Sixteen communities previously in lease up joined the comparable-community portfolio on January 1, 2010.
Comparable community revenues for the first quarter of 2010 increased by 2.4 percent, from $483.7 million for the first quarter of 2009 to $495.3 million for the first quarter of 2010. Excluding the impact of foreign exchange rates in 2010, comparable community revenues for the first quarter of 2010 increased 1.3 percent to $489.9 million year-over-year. Average unit occupancy in comparable communities for the first quarter of 2010 was 86.2 percent, which was down 150 basis points from 87.7 percent for the first quarter of 2009, and down 50 basis points as compared to 86.7 percent in the fourth quarter of 2009. Average daily revenue per occupied unit in comparable communities increased 4.2 percent from $194.99 for the first quarter of 2009 to $203.23 for the first quarter of 2010. Excluding the impact of foreign exchange rates in 2010, average daily revenue per occupied unit for the comparable community portfolio increased 3.1 percent to $201.01 for the first quarter of 2010 as compared to the first quarter of 2009. Comparable community operating expenses for the first quarter of 2010 increased 2.1 percent over the first quarter of 2009 from $358.9 million to $366.5 million. Excluding the foreign exchange rates in 2010, these operating expenses increased 1.0 percent to $362.6 million in the first quarter of 2010. As of March 31, 2010, Sunrise operated 365 communities located in the United States, Canada, the United Kingdom and Germany, with a unit capacity of approximately 36,600 units.Sunrise's comparable community portfolio consists of communities that were open and operating as of January 1, 2008, and include consolidated, unconsolidated venture, and managed communities in the United States, Canada and the United Kingdom. Sunrise's management believes that total comparable-community revenues, average daily revenue per occupied unit, average unit occupancy rates and total comparable-community expenses are useful indicators of trends in Sunrise's management business.
For additional details on Sunrise's comparable-community and total-community operations data, please refer to the Supplemental Data link on the Investor Relations section of the Company's Web site or at http://suppdata.sunriseseniorliving.com
Conference Call and Webcast
Sunrise will host a conference call and webcast at 8:00 a.m. ET on Tuesday, May 4, 2010, to discuss the financial results for the first quarter of 2010 and the other matters discussed in this press release. The call-in number for the conference call is 877-874-1571 or 719-325-4894 (from outside the U.S.). Callers should reference the "Sunrise Senior Living Q1 Earnings Call" or the participant passcode: 3542059. Those interested may also go to the Investor Relations section of the Company's Web site (http://www.sunriseseniorliving.com) to listen to the earnings call. A telephone replay of the call will be available until May 18, 2010, by dialing 888-203-1112 or 719-457-0820 (passcode: 3542059); a replay will also be available on Sunrise's Web site during that period.
About Sunrise Senior Living
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of March 31, 2010, Sunrise operated 365 communities in the United States, Canada, Germany and the United Kingdom, with a combined unit capacity of approximately 36,600 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.
Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Sunrise believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurances that these expectations will be realized. Sunrise's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to, the risk that the Sunrise is unable to settle the remaining claims with respect to its German subsidiaries; the risk that the Company is not able to sell the North American properties mortgaged pursuant to the restructure transactions; the risk that the net sale proceeds of the mortgaged North American properties are not sufficient to pay the minimum amount guaranteed by Sunrise to the lenders that are party to the restructure transactions; changes in the Company's anticipated cash flow and liquidity; the Company's ability to maintain adequate liquidity to operate its business and execute its restructuring; the Company's ability to obtain waivers, cure or reach agreements with respect to defaults under the Company's loan, joint venture and construction agreements; the risk that a group of the Company's creditors, acting together, could force the Company into an involuntary bankruptcy proceeding; the Company's ability to sell its German communities within a reasonable time period; the Company's ability to refinance extend the maturity of or otherwise repay its bank credit facility due in 2010 and other debt due in 2010 and/or raise funds from other sources; the Company's ability to achieve anticipated savings from the Company's cost reduction initiatives; the outcome of the U.S. Securities and Exchange Commission's investigation; the outcome of the IRS audit of the Company's tax returns for the tax years ended December 31, 2005, 2006, 2007 and 2008; the Company's ability to continue to recognize income from refinancings and sales of communities by ventures; risk of changes in the Company's critical accounting estimates; risk of further write-downs or impairments of the Company's assets; risk of future obligations to fund guarantees and other support arrangements to some of the Company's ventures, lenders to the ventures or third-party owners; risk of declining occupancies in existing communities or slower than expected leasing of new communities; risk resulting from any international expansion; development and construction risks; availability of financing for development, including construction loans as to which we are in default; risks associated with past or any future acquisitions; compliance with government regulations; risk of new legislation or regulatory developments; the risk that some of the Company's management agreements, subject to early termination provisions based on various performance measures, could be terminated due to failure to achieve the performance measures; business conditions and market factors that could affect occupancy rates at and revenues from the Company's communities and the value of the Company's properties generally; competition and our response to pricing and promotional activities of our competitors; changes in interest rates; unanticipated expenses; the risks of further downturns in general economic conditions including, but not limited to, financial market performance, consumer credit availability, interest rates, inflation, energy prices, unemployment and consumer sentiment about the economy in general; risks associated with the ownership and operation of assisted living and independent living communities; and other risks detailed in the Company's 2009 Annual Report on Form 10-K filed with the SEC, as may be amended or supplemented in the Company's Form 10-Q filings or otherwise. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
...
Unilife Corporation Schedules Third Quarter Fiscal 2010 Conference Call For Thursday, May 13, 2010
Date : 05/04/2010 @ 8:00AM
Source : PR Newswire
Stock : Unilife (MM) (UNIS)
http://ih.advfn.com/p.php?pid=nmona&article=42647612&symbol=UNIS
PR Newswire
LEWISBERRY, Pa., May 4
LEWISBERRY, Pa., May 4 /PRNewswire-FirstCall/ --
Unilife Corporation ("Unilife" or "Company") (Nasdaq: UNIS ; ASX: UNS) announced today that it intends to release its financial results for the fiscal 2010 third quarter and nine months ended March 31, 2010 after market trading ends on Thursday, May 13, 2010.
Management has scheduled a conference call for 4:30 p.m. U.S. Eastern Time on May 13, 2010 (Australian Eastern Standard Time is Friday, May 14 at 6.30 a.m.), to review the Company's financial results, market trends, and future outlook. The conference call will be broadcast over the Internet as a "live" listen only Webcast.
To listen, please go to: http://ir.unilife.com/events.cfm
Listeners are urged to login approximately 20 minutes before the conference call is scheduled to begin in order to register, as well as download and install any necessary audio software.
An archive of the webcast will be available for 30 days after the call.
About Unilife Corporation
Unilife Corporation is a U.S.-based medical device company focused on the design, development, manufacture and supply of a proprietary range of retractable syringes. Primary target customers for Unilife products include pharmaceutical manufacturers, suppliers of medical equipment to healthcare facilities and patients who self-administer prescription medication. These patent-protected syringes incorporate automatic and fully-integrated safety features which are designed to protect those at risk of needlestick injuries and unsafe injection practices. Unilife is ISO 13485 certified and has FDA-registered medical device manufacturing facilities in Pennsylvania.
This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and elsewhere in our registration statement on Form 10 and those described from time to time in other reports which we file with the Securities and Exchange Commission.
General: UNIS-G
Investor Contacts (US):
Todd Fromer / Garth Russell
KCSA Strategic Communications
Phone + 1 212-682-6300
Stuart Fine
Carpe DM Inc
Phone + 1 908 469 1788
Investor Contacts (Australia)
Jeff Carter
Unilife Corporation
Phone + 61 2 8346 6500
SOURCE Unilife Corporation
The Hartford Launches iPhone App for Auto Claims
Date : 05/04/2010 @ 8:30AM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=42648226&symbol=HIG
The Hartford Financial Services Group, Inc. (NYSE: HIG) today announced the launch of The Harford Mobile™, which provides iPhone™ users with quick access to checklists, emergency phone numbers and claims reporting features for auto insurance customers.
“The Hartford Mobile represents our commitment to innovative, customer-focused technology,” said Jonathan Bennett, Executive Vice President, Digital Commerce & Customer Analytics. “We have recently reorganized the company around customer segments and we established an integrated Digital Commerce organization. These improvements will position us to more effectively identify customer needs and continue to launch new technologies.”
The Hartford Mobile will provide consumers with the ability to:
* Access an auto accident checklist.
* Collect and exchange driver and accident information, including accident photos.
* Reference helpful roadside guides, including an interactive Emergency Kit Checklist.
* Locate an auto repair facility from The Hartford’s national network of approved shops.
* Save and review accident history.
* Find a replacement vehicle – new or used.
* Access to national glass repair service.
* Quickly access RESCUE 1-800 roadside services.
* Store vehicle and insurance information for quick and easy access.
* Access additional special features for customers of The Hartford, such as express connect to The Hartford’s Claims services and automatically submitting accident photos and notes directly from the iPhone.
All iPhone users can take advantage of The Hartford Mobile. To learn more and to download the application, go to www.thehartford.com/thehartfordmobile or visit the Apple iTunes App Store to download the app.
About The Hartford
Celebrating 200 years of helping its customers achieve what’s ahead, The Hartford (NYSE: HIG) is an insurance and wealth management company. Through its unique focus on customer needs, the company serves businesses and consumers by providing the products and solutions they need to protect their assets and income from risks and manage their wealth and retirement needs. A Fortune 100 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
Clayton H. Riddell: Acquisition of Common Shares of Canadian Superior Energy Inc.
May 03, 2010 17:15 ET
http://www.marketwire.com/press-release/Clayton-H-Riddell-Acquisition-of-Common-Shares-of-Canadian-Superior-Energy-Inc-1157941.htm
CALGARY, ALBERTA--(Marketwire - May 3, 2010) - Clayton H. Riddell (on his own behalf and on behalf of entities controlled by him) reports that on January 19, 2010, he acquired indirect ownership and control of 38,461,538 common shares of Canadian Superior Energy Inc. ("Canadian Superior"), representing approximately 12.35% of Canadian Superior's then outstanding common shares, through a non-brokered private placement (the "Offering"). As of April 30, 2010, Mr. Riddell, directly and indirectly, owns a total of 39,047,627 common shares of Canadian Superior, representing approximately 12.54% of Canadian Superior's current outstanding common shares. Mr. Riddell indirectly shares control (through the Riddell Family Charitable Foundation) of an additional 1,830,235 common shares of Canadian Superior representing approximately 0.59% of Canadian Superior's current outstanding common shares. In total, Mr. Riddell, directly or indirectly, owns or controls a total of 40,877,862 common shares of Canadian Superior representing approximately 13.12% of Canadian Superior's current outstanding common shares.
The 38,461,538 common shares of Canadian Superior were acquired by Mr. Riddell pursuant to the terms of the Offering. Pursuant to the Offering, Canadian Superior issued a total of 114,424,238 common shares at a price of $0.52 per common share. The common shares issued pursuant to the Offering are subject to a four month plus one day hold period from the date of closing of the Offering in accordance with applicable Canadian securities legislation. The total consideration paid by Mr. Riddell for the common shares acquired was $20,000,000.
Mr. Riddell acquired the common shares of Canadian Superior for investment purposes. The acquisition pursuant to the Offering was made in reliance on section 2.3 of NI 45- 106. Mr. Riddell may increase or decrease his ownership of, or control over, common shares of Canadian Superior depending on market conditions or any other relevant factor.
For more information, please contact
Clayton H. Riddell
4700 Bankers Hall West
888 - 3rd Street S.W.
Calgary, Alberta T2P 5C5
403-290-3600
The Hartford’s Liam E. McGee to Speak at the 12th Annual UBS Global Financial Services Conference on May 11
Date : 05/03/2010 @ 10:00AM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=42631338&symbol=HIG
The Hartford Financial Services Group, Inc. (NYSE: HIG) today announced that Liam E. McGee, Chairman, President and Chief Executive Officer of The Hartford, will present at the 12th Annual UBS Global Financial Services Conference in New York City. McGee’s presentation will take place on Tuesday, May 11 at approximately 10:50 a.m. EDT.
The presentation will be simultaneously webcast on The Hartford’s website at www.thehartford.com/ir.
About The Hartford
Celebrating 200 years of helping its customers achieve what’s ahead, The Hartford (NYSE: HIG) is an insurance and wealth management company. Through its unique focus on customer needs, the company serves businesses and consumers by providing the products and solutions they need to protect their assets and income from risks and manage their wealth and retirement needs. A Fortune 100 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
HIG-F
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2009 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
YMB - Keryx Article Compilation (@wrongrate)
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=10207&tid=40315&mid=40315&tof=17&frt=2
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Barchart.com shows a 100% buy rating for Keryx as of 04/30/10
http://quote.barchart.com/texpert.asp?sym=KERX&code=BSTK
There are many types of cancer being treated with Perifosine. See a list here:
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_K/threadview?bn=10207&tid=30399&mid=-1
Could ovarian cancer be the next cancer treated with Perifosine?
http://www.mdanderson.org/education-and-research/research-at-md-anderson/early-detection-and-treatment/research-programs/spores/ovarian-cancer-spore/research/index.html
Perifosine is treating pediatric solid tumors
http://clinicaltrials.gov/ct2/show/NCT00776867?term=perifosine&rank=16
Perifosine - How it works, the science behind it
http://www.gekkowire.com/?p=841
What is the AKT pathway?
http://en.wikipedia.org/wiki/AKT
How much could Keryx be worth just from treating colon cancer?
http://www.gekkowire.com/?p=2312
What is the valuation that comes from treating multiple myeloma?
http://www.gekkowire.com/?p=2299
Is Perifosine the next Multiple Myeloma wonder drug?
http://www.gekkowire.com/?p=1767
Can Keryx triple in the next year?
http://seekingalpha.com/article/198045-keryx-biopharmaceuticals-could-easily-triple-within-the-next-year
What does CEO Ron Bentsur have to say about his expectations for 2010?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=10207&tid=19662&mid=19662&tof=1&frt=2
Listen to the presentation by CEO Ron Bentsur at the December 2, 2009 Piper Jaffray Health Care Conference. Of interest are the questions asked by stock analysts beginning about 12 minutes into this 26 minute recording.
http://webcastingplayer.corporate-ir.net/player/playerHOST.aspx?c=122201&EventId=2566261&StreamId=1408757&IndexId=&TIK={a301acc8-cdcf-4310-9412-0a008ef00d89&RGS=3
Is Keryx the next GOOG?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=10207&tid=20584&mid=20584&tof=2&rt=2&frt=2&off=1
Keryx is a well funded comeback story with multiple catalysts
http://biomedreports.com/articles/most-popular/23944-keryx-biopharma-nasdaq-kerx-well-funded-comeback-story-with-multiple-catalysts.html
What are some of the 2010 catalysts?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=10207&tid=39524&mid=39524&tof=13&frt=2
Why does Brean Murray, Carret & Co. feel that Keryx is a great investment?
http://www.twst.com/yagoo/BreanmurraycarretFour.html
Which institutions own stock in Keryx?
http://www.mffais.com/kerx
Biotech Stocks and the ASCO Effect
http://seekingalpha.com/article/140552-biotech-stocks-and-the-asco-effect
Keryx: Another Beneficiary of the ASCO Effect
http://seekingalpha.com/article/141058-keryx-another-beneficiary-of-the-asco-effect
Ron Bentsur, CEO of Keryx, held an investor conference call on Thursday, January 28, 2010 to discuss Perifosine Clinical Development Program in Colorectal Cancer.
You can listen to a recording here: http://investors.keryx.com/phoenix.zhtml?c=122201&p=irol-irhome
Buy This Stock Before Your Neighbor Does
http://www.fool.com/investing/small-cap/2010/01/23/buy-this-stock-before-your-neighbor-does.aspx
KERX - 2010 NEWS
01/05/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=40967159&symbol=NASDAQ%3AKERX
Keryx Biopharmaceuticals Announces Special Protocol Assessment Agreement with FDA for Phase 3 Registration Program of Zerenex in patients with end-stage renal disease (ESRD)
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01/25/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=41242064&symbol=NASDAQ%3AKERX
Keryx Reports Statistically Significant Benefit in Survival from Updated Results on the clinical activity of KRX-0401 (perifosine), the Company's PI3K/Akt pathway inhibitor for cancer, in combination with capecitabine (Xeloda®) as a treatment for advanced, metastatic colon cancer.
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01/29/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=41314106&symbol=N^KERX
Keryx Biopharmaceuticals Announces Positive Phase 2 Study Results of Perifosine as a Single Agent for the Treatment of advanced Waldenstrom's Macroglobulinemia ("Waldenstrom's")
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02/03/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=41377888&symbol=N^KERX
Keryx Biopharmaceuticals Announces Special Protocol Assessment Agreement with FDA for Phase 3 Trial of KRX-0401 (Perifosine) in patients with refractory metastatic colorectal cancer.
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04/05/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=42251074&symbol=N^KERX
Keryx Receives FDA Fast Track Designation for KRX-0401 (Perifosine) for the Treatment of Refractory Advanced Colorectal Cancer
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04/08/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=42299718&symbol=N^KERX
Keryx Biopharmaceuticals, Inc. Initiates Phase 3 Registration Trial of KRX-0401 (Perifosine) for Treatment of Patients with Refractory Advanced Colorectal Cancer
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04/15/2010 @ 8:30AM
http://ih.advfn.com/p.php?pid=nmona&article=42392688&symbol=N^KERX
Keryx Biopharmaceuticals Reports Updated Long-Term Data of Zerenex (ferric citrate) Presented at National Kidney Foundation (NKF) 2010 Spring Clinical Meetings
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ASCO - 08/06/10 (Abstract No. 3531)
http://www.thestreet.com/story/10741201/14/asco-stocks-with-new-data.html
Abstract No. 3531
Indication: colorectal cancer
Clinical Trial: Final results of a randomized phase II study of perifosine in combination with capecitabine (P-CAP) versus placebo plus capecitabine (CAP) in patients with second- or third-line metastatic colorectal cancer.
Presentation Time: Tuesday, June 8. Poster session.
http://www.asco.org/portal/site/ascov2
Greek leader says agreement reached on aid deal
Greek prime minister: Agreement reached on deal with IMF and EU for rescue package
Sunday May 2, 2010, 5:19 am
http://finance.yahoo.com/news/Greek-leader-says-agreement-apf-653140777.html?x=0&sec=topStories&pos=main&asset=&ccode=
ATHENS, Greece (AP) -- Greece has reached agreement with the EU and IMF on an aid package to stave off bankruptcy, and has no choice but to implement new harsh austerity measures, including cuts to civil servants' salaries and pensions, Prime Minister George Papandreou said.
Papandreou said his government reached an agreement with the International Monetary Fund and the European Union on the measures needed to free up a euro45 billion ($60 billion) joint rescue package for this year.
"The avoidance of bankruptcy is the national red line," he told the Cabinet in a televised speech. "I want to be clear to all. I have done and will do everything so the country does not go bankrupt."
Papandreou called on Greeks to make "great sacrifices" to avoid a catastrophe, and said the country's problematic civil service would bear the brunt, with cuts to salaries and pensions.
Parliamentary deputies would also lose their holiday bonus salaries, known as the 13th and 14th salaries -- but such cuts will not be imposed on the private sector, which had been widely feared.
There will also be further hikes in consumer taxes, and deep cuts in defense spending and hospital procurement, the prime minister said.
"The alternative course would be a catastrophe and greater pain for all," he said.
He did not give details about the new measures, which Finance Minister George Papaconstantinou was to outline shortly after the Cabinet meeting.
Papaconstantinou will then fly to Brussels for an emergency meeting with the other 15 finance ministers of the EU countries that use the euro, who must approve the EU's contribution to the rescue. Under the plan, eurozone countries will extend loans to Greece at an interest rate of about 5 percent -- far lower than the prohibitively high costs Greece would face if it were to try to borrow money on the market at the moment.
The plan extends over three years and has been reported to be worth a total of euro120 billion over that time.
Greek unions planning a general strike Wednesday against the new cuts. Violent clashes broke out Saturday during anti-government protests at May 1 Labor Day rallies.
The government will submit special emergency legislation to Parliament that was agreed upon with the EU and the IMF at a negotiating session Saturday. Parliament is expected to approve the measures by Friday.
"Economic reality has forced us to take very harsh decisions," Papandreou said, adding that "This is the only way we will finance our euro300 billion debt."
Associated Press writer Demetris Nellas contributed to this report.
ZOOM - Share exchange agreement to acquire 100% of the shares of Nollec Wireless Company Ltd.
30-Apr-2010
http://biz.yahoo.com/e/100430/zoom8-k.html
Entry into a Material Definitive Agreement, Financial Statements and Exhibi
Item 1.01 Entry into a Material Definitive Agreement
On April 29, 2010, Zoom Technologies, Inc. (the "Company") executed a share exchange agreement (the "Agreement") to acquire 100% of the shares of Nollec Wireless Company Ltd., ("Nollec Wireless") a mobile phone and wireless communication design company located in Beijing, China (the "Acquisition"). The parties to the Agreement include the Company as the acquirer of Nollec Wireless and:
a) Silver Tech Enterprises, Ltd. ("Silver Tech"), a holding company founded in July 2005, organized and existing under the laws of the British Virgin Islands, which owns 100% of Ever Elite Corporation, Ltd.;
b) Ever Elite Corporation, Ltd. ("Ever Elite"), a holding company founded in June 2007, organized under the laws of Hong Kong Special Administrative Region which owns 100% of Nollec Wireless Company, Ltd.;
c) Nollec Wireless Company, Ltd., the operating company founded in June 2007, organized under the laws of the People's Republic of China;
d) Key Network Holdings, Ltd. ("KNH"), a BVI company, owner of 76.8% of the outstanding stock of Silver Tech; and
e) Better Day Finance, Ltd. ("BDF"), a BVI company, owner of 23.2% of the outstanding stock of Silver Tech.
Following the closing of the acquisition of Nollec Wireless, each of Silver Tech, Ever Elite and Nollec Wireless will be wholly owned subsidiaries of Zoom, as described in the diagram below:
Under the terms of the Agreement, KNH and BDF will sell their combined 100% ownership of Silver Tech to the Company. The consideration paid for Silver Tech, which owns 100% of Ever Elite which in turn owns 100% of Nollec Wireless will be US$10.96 million in cash and stock. The consideration agreed upon by Zoom, KNH and BDF is based on an appraisal report conducted by Beijing Jingdu Zhongxin Assets Valuation Company Ltd., an affiliate of Grant Thornton. Pursuant to the Agreement, $1.37 million of the total consideration will be paid in cash by the Company and the balance of $9.59 million will be paid by the issuance of 1,342,599 shares of the Company's common stock ("Payment Shares"). The price of the Payment Shares was based on the weighted average closing price of Zoom shares as traded on Nasdaq for the 10 consecutive trading days prior and leading up to the day immediately before the date of the Agreement. The sellers in the Transaction, KNH and BDF, will execute lock up agreements which restrict them from transferring the Payment Shares for a period of 6 months from the closing date of the transaction. Closing of the Transaction is subject to customary closing conditions and deliverables by the Company, KNH and BDF.
Nollec Wireless primarily focuses on research and development of mobile phones, and hardware and software solutions for domestic Chinese and oversea customers. Its design team includes experienced engineers in the core technologies of wireless communication and mobile phone development. Nollec provides state of the art industrial, user inter-phase, mechanical and engineering designs and software and hardware integration. Its clients include certain domestic and international mobile phone manufacturers including Philips, Lenovo, Sonim, Gionee and Borqs.
Nollec Wireless generates revenues by charging clients a design fee plus a royalty fee based on the number of units of phones actually sold. Its unaudited financial results for the years ended December 31, 2009 and 2008 showed revenues of $6.2 million and $7.1 million respectively, and net income of $1.3 million and $0.9 million respectively.
Company Partners
Quintiles http://www.quintiles.com/
Quintiles is pleased to work with companies like NewCardio who are developing the latest innovations and cutting edge solutions for enhancing patient safety and lowering the cost of drug development as we navigate the new health.
ICON http://www.iconclinical.com/
ICON Development Solutions specializes in the strategy and delivery of early-phase clinical development services to enable informed, timely decision making for our clients. With global, industry-leading capabilities in early-phase clinical research, bioanalytical, PK/PD, modeling & simulation and the full range of supporting scientific services, we have the operational flexibility to provide stand-alone development services or an integrated full-service solution. Our clinical pharmacology team has extensive experience in the design, conduct and interpretation of studies in all major therapeutic areas, with a strong reputation for incorporating high science approaches and operational excellence across all elements of your clinical pharmacology program.
Dedicated Phase I http://www.dedicatedphase1.com/
80-bed in-patient early development facility, specializing in both healthy and special population clinical trials. Utilizing Mortara Surveyor telemetry equipment driven by QTinno software, Dedicated Phase I will complete your clinical trial quickly while delivering meticulous data cost effectively.
CLINiLABS http://www.clinilabs.com/
As a small contract research organization, CLINiLABS specializes in early phase and specialty studies. However, there is a giant within. We offer teams, processes, and technology solutions that can be scaled to meet project needs. We give early phase programs expert attention, and provide specialty services for later phase studies that fill the service gaps of other organizations. We have worked with top 20 pharma companies and biotechs, and count five of the top 10 CROs among our best clients.
Sunrise to Host Conference Call and Webcast to Discuss First-Quarter 2010 Financial Results
Date : 04/27/2010 @ 8:00AM
Source : PR Newswire
Stock : Sunrise Senior Living (SRZ)
http://ih.advfn.com/p.php?pid=nmona&article=42545247&symbol=NY^SRZ
PR Newswire
MCLEAN, Va., April 27
MCLEAN, Va., April 27 /PRNewswire-FirstCall/ --
Sunrise Senior Living, Inc. (NYSE: SRZ) today announced that it will host a conference call and Webcast on Tuesday, May 4, 2010, at 8:00 a.m. ET to discuss its financial results for the first-quarter 2010. Mark Ordan, chief executive officer, Julie Pangelinan, chief financial officer, and Greg Neeb, chief investment officer, will host the call.
The call-in number for the conference call is 877-874-1571 or 719-325-4894 (from outside the U.S.). Callers should reference the "Sunrise Senior Living Q1 Earnings Call" or the participant passcode: 3542059. Those interested may also go to the Investor Relations section of the Company's Web site (http://www.sunriseseniorliving.com) to listen to the earnings call. A telephone replay of the call will be available until May 18, 2010, by dialing 888-203-1112 or 719-457-0820 (passcode: 3542059); a replay will also be available on Sunrise's Web site during that period.
About Sunrise Senior Living
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of February 25, 2010, Sunrise operated 374 communities in the United States, Canada, Germany and the United Kingdom, with a combined unit capacity of approximately 37,800 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.
SOURCE Sunrise Senior Living, Inc.
Sunrise Completes Restructure and Partial Settlement Agreement with Four Lenders to its German Subsidiaries
Thursday April 29, 2010, 5:00 pm EDT
http://finance.yahoo.com/news/Sunrise-Completes-Restructure-prnews-3205601108.html?x=0&.v=1
MCLEAN, Va., April 29 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE:SRZ - News) today announced that the Company and certain of its affiliates have completed the previously announced restructure transactions with three of the lenders to its German subsidiaries, Capmark Finance Inc., Natixis, London Branch, and Fortis Bank, UK Branch. Under the restructure transactions, which were first announced in October 2009, such lenders agreed to settle and compromise claims that they may have had against Sunrise with respect to its German subsidiaries.
Sunrise also announced that it has entered into a partial settlement and waiver declaration with Aareal Bank AG, pursuant to which Sunrise will be released from its operating deficit and payment guarantee obligations with respect to loans previously made by Aareal to certain of Sunrise's German subsidiaries in exchange for, among other things, a cash payment of EUR 2.1 million (approximately $2.8 million).
Sunrise is actively working to settle and compromise claims that one remaining lender to its German communities may have against Sunrise.
"I am very grateful for the persistent work of my colleagues, our advisors and our banks to accomplish this restructuring," said Mark Ordan, Sunrise's chief executive officer.
About Sunrise Senior Living
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of February 25, 2010, Sunrise operated 374 communities in the United States, Canada, Germany and the United Kingdom, with a combined unit capacity of approximately 37,800 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com .
Shanghai marks comeback with Expo extravaganza
Shanghai marks comeback with lavish World Expo kickoff, amid citywide security clampdown
Friday April 30, 2010, 10:58 pm EDT
http://finance.yahoo.com/news/Shanghai-marks-comeback-with-apf-3913169200.html?x=0&sec=topStories&pos=2&asset=&ccode=
SHANGHAI (AP) -- A proud Shanghai threw open the gates of the 2010 World Expo on Saturday, kicking off an event that underscores the Chinese financial hub's comeback as a major world city after decades of spartan industrialism following the 1949 communist revolution.
Like the 2008 Olympics, the World Expo is showcasing China's growing economic and geopolitical sway, both for the world and for its own public.
Following a gala fireworks, fountains and laser-light celebration, dignitaries gathered Saturday to declare the Expo open in a much less grandiose ceremony.
"Everything starts at the World Expo and all things come together at the Expo site," said Jia Qinglin, the Communist Party's No. 4 ranking leader.
Gates opened to what was expected to be a relatively limited number of ticket holders -- all those not holding May 1 tickets were told to stay away because they would not be admitted.
Friday night's star-studded indoor festivities included action star Jackie Chan, Japanese singer Shinji Tanimura, concert pianist Lang Lang and opera star Andrea Bocelli, among 2,300 performers. Afterward, guests moved outside for a lights, music and fireworks jubilee that lit up the drab banks of the Huangpu river with 1,200 searchlights, powerful lasers and mobile fountains.
The normally tea-colored waters glowed with 6,000 red and orange 1.6-foot (0.5-meter) LED balls and lights from a parade of flag boats representing nations participating in the Expo.
The Expo is expected to draw 70 million people over six months to pavilions from almost 200 nations designed to reflect the urban sustainability theme of "Better City, Better Life."
China is splashing out 28.6 billion yuan ($4.2 billion) on the Expo itself, and many billions more on other improvements for this city of 20 million people. Freshly painted buildings, new highways, subway lines and airport terminals -- all proclaim the country's newfound status as a modern, increasingly affluent industrial giant.
"The government will spend whatever money it takes. For the leadership, it's worthwhile," said Zheng Yongnian, director of the East Asian Institute of the National University of Singapore.
The Expo caps a trio of landmark events that began with the Olympics and was followed by the elaborate military parades for the 2009 celebration of the 60th anniversary of Communist Party rule.
All have involved massive security crackdowns and intensified harassment of political dissidents, though commercial-minded Shanghai has kept measures low-key compared with the lockdown imposed for the Beijing Olympics, when tourist visas were canceled and the capital was cleared of migrants.
Still, local authorities, determined to prevent crimes or disturbances that could mar the Expo, have tightened their enforcement of a ban on public criticism of the ruling Communist Party, harassing dissidents and jailing those who attempted to protest the demolition of their homes for the Expo.
The Shanghai Expo, the first held in a developing country, is a source of pride for many city residents, though they already are complaining about crowds, traffic jams and other disruptions.
The already tight security in the city was ratcheted up Friday as authorities closed the sprawling riverside Expo site to all but a few workers, journalists, and VIPs. As the evening performance began, police went from door-to-door in some buildings near the Expo site, trying to force visitors to leave as outraged residents argued back.
"We have been bothered many times recently. They even don't allow us to invite our relatives or friends to come see the fireworks. How can such a good thing turn out to be so be miserable?" complained one apartment owner. Fearing retaliation, she gave only her surname, Zhu.
Shanghai residents had crowded into areas near the river from the early afternoon, hoping to get a glimpse of the evening celebrations attended by Hu and other leaders, including French President Nicolas Sarkozy, South Korean President Lee Myung-bak and European Commission President Jose Manuel Barroso.
Expo organizers had insisted on keeping details of their plans for the evening performances hush-hush, saying they did not want to spoil the surprise.
The elaborate outdoor performances, focused on the themes "Welcome to China," "Harmonious Gathering" and "Celebration" were centered on what organizers said is the world's largest LED screen, at 920 feet (280 meters) long and 108 feet (33 meters) high, and a fountain shooting water 262 feet (80 meters) high .
"This show couldn't be done anywhere but in China," said David Atkins, the executive producer of the outdoor performance.
Associated Press writer Elaine Kurtenbach and researcher Ji Chen contributed to this report.
Share exchange agreement to acquire 100% of the shares of Nollec Wireless Company Ltd.
30-Apr-2010
http://biz.yahoo.com/e/100430/zoom8-k.html
Entry into a Material Definitive Agreement, Financial Statements and Exhibi
Item 1.01 Entry into a Material Definitive Agreement
On April 29, 2010, Zoom Technologies, Inc. (the "Company") executed a share exchange agreement (the "Agreement") to acquire 100% of the shares of Nollec Wireless Company Ltd., ("Nollec Wireless") a mobile phone and wireless communication design company located in Beijing, China (the "Acquisition"). The parties to the Agreement include the Company as the acquirer of Nollec Wireless and:
a) Silver Tech Enterprises, Ltd. ("Silver Tech"), a holding company founded in July 2005, organized and existing under the laws of the British Virgin Islands, which owns 100% of Ever Elite Corporation, Ltd.;
b) Ever Elite Corporation, Ltd. ("Ever Elite"), a holding company founded in June 2007, organized under the laws of Hong Kong Special Administrative Region which owns 100% of Nollec Wireless Company, Ltd.;
c) Nollec Wireless Company, Ltd., the operating company founded in June 2007, organized under the laws of the People's Republic of China;
d) Key Network Holdings, Ltd. ("KNH"), a BVI company, owner of 76.8% of the outstanding stock of Silver Tech; and
e) Better Day Finance, Ltd. ("BDF"), a BVI company, owner of 23.2% of the outstanding stock of Silver Tech.
Following the closing of the acquisition of Nollec Wireless, each of Silver Tech, Ever Elite and Nollec Wireless will be wholly owned subsidiaries of Zoom, as described in the diagram below:
Under the terms of the Agreement, KNH and BDF will sell their combined 100% ownership of Silver Tech to the Company. The consideration paid for Silver Tech, which owns 100% of Ever Elite which in turn owns 100% of Nollec Wireless will be US$10.96 million in cash and stock. The consideration agreed upon by Zoom, KNH and BDF is based on an appraisal report conducted by Beijing Jingdu Zhongxin Assets Valuation Company Ltd., an affiliate of Grant Thornton. Pursuant to the Agreement, $1.37 million of the total consideration will be paid in cash by the Company and the balance of $9.59 million will be paid by the issuance of 1,342,599 shares of the Company's common stock ("Payment Shares"). The price of the Payment Shares was based on the weighted average closing price of Zoom shares as traded on Nasdaq for the 10 consecutive trading days prior and leading up to the day immediately before the date of the Agreement. The sellers in the Transaction, KNH and BDF, will execute lock up agreements which restrict them from transferring the Payment Shares for a period of 6 months from the closing date of the transaction. Closing of the Transaction is subject to customary closing conditions and deliverables by the Company, KNH and BDF.
Nollec Wireless primarily focuses on research and development of mobile phones, and hardware and software solutions for domestic Chinese and oversea customers. Its design team includes experienced engineers in the core technologies of wireless communication and mobile phone development. Nollec provides state of the art industrial, user inter-phase, mechanical and engineering designs and software and hardware integration. Its clients include certain domestic and international mobile phone manufacturers including Philips, Lenovo, Sonim, Gionee and Borqs.
Nollec Wireless generates revenues by charging clients a design fee plus a royalty fee based on the number of units of phones actually sold. Its unaudited financial results for the years ended December 31, 2009 and 2008 showed revenues of $6.2 million and $7.1 million respectively, and net income of $1.3 million and $0.9 million respectively.
Hartford Financial Services Group Q1 2010 Earnings_Call_Transcript
April 30, 2010
http://seekingalpha.com/article/202115-hartford-financial-services-group-q1-2010-earnings-call-transcript?source=feed
UPDATE:Hartford Swings To Profit As Business Builds Momentum
Date : 04/29/2010 @ 6:46PM
Source : Dow Jones News
Stock : Hartford Financial Services Group Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=42600582&symbol=NY^HIG
DOW JONES NEWSWIRES
Hartford Financial Services Group Inc. (HIG), the insurer that repaid its government bailout this year, swung to a first-quarter profit as investment results improved.
But the cost of buying back the government's preferred stake meant common shareholders had a net loss per share of 42 cents. That was still an improvement from the $3.77 a share loss the company reported in the same period a year earlier.
The latest results "reflect building momentum," said Chairman and Chief Executive Liam E. McGee on Thursday. McGee took over from former CEO Ramani Ayer late last year.
Hartford posted better results in its life and property-and-casualty businesses and isn't so severely troubled by the charges and capital losses that plagued it the year prior.
Core earnings, which exclude net realized and unrealized investment results, swung to a 14-cent profit from a loss of $3.66. The latest operating profit includes $1.18 in charges from repurchasing the government's shares and the impact of federal health-care overhaul.
Analysts surveyed by Thomson Reuters had expected core earnings of 11 cents.
Net premiums written were flat at $2.5 billion in Hartford's property and casualty business, while core earnings there fell 5.3%.
Assets under management climbed 20%.
Hartford last month repaid the $3.4 billion it received from the Troubled Asset Relief Program. McGee also unveiled a new organizational structure just after first quarter's close, saying it will allow the firm to focus on customer growth.
Shares closed at $29.64 and were down less than a percent after hours. The stock has more than doubled in value in the last year.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com
Book value per common share increased to $38.94
29.04.2010 22:34
http://www.finanznachrichten.de/nachrichten-2010-04/16768463-the-hartford-reports-first-quarter-2010-net-income-of-dollar-319-million-004.htm
The Hartford Reports First Quarter 2010 Net Income Of $319 Million
The Hartford Financial Services Group, Inc. (NYSE:HIG):
- Core earnings* of $545 million
- Core earnings per diluted share* of $0.14 includes after-tax charges for CPP repurchase, litigation accrual and new federal healthcare legislation totaling $1.18 per diluted share
- Book value per common share increased 61% over prior year period to $38.94
- With successful capital raise and CPP repurchase, company is focused on execution of go-forward strategy
The Hartford Financial Services Group, Inc. (NYSE:HIG) today reported first quarter 2010 net income of $319 million. Due to the repurchase of the government's CPP preferred shares, the company also recorded a $440 million charge to retained earnings that impacts the calculation of net income per diluted share, contributing to a reported net loss per diluted share of $0.42. In the first quarter of 2009, the company reported a net loss of $1.2 billion, or $3.77 per diluted share.
Core earnings for the first quarter of 2010 were $545 million, or $0.14 per diluted share, compared with a core loss of $1.2 billion, or $3.66 per diluted share, for the prior year period.
"The company's first quarter results reflect building momentum, with year-over-year top-line improvements in many businesses," said Liam E. McGee, The Hartford's Chairman, President and Chief Executive Officer. "We also benefited from capital market improvements, disciplined underwriting and a continued focus on execution across the organization. Our goal is to deliver superior shareholder value by generating sustained, profitable growth over time."
"In the first quarter, we made significant progress on our path forward. We completed a successful capital raise, which enabled us to strengthen the company's balance sheet and return the government's investment in The Hartford. We are now focused on executing our go-forward strategy, which leverages our product breadth, distribution strength and broad customer base," added McGee.
Sunrise Senior Living says HCP case dismissed
Sunrise Senior Living says HCP litigation against it dismissed by federal court
On Friday April 30, 2010, 2:42 pm
http://finance.yahoo.com/news/Sunrise-Senior-Living-says-apf-1765129793.html?x=0
MCLEAN, Va. (AP) -- Sunrise Senior Living Inc. said Friday a federal court has dismissed all claims against it in litigation filed by HCP Inc.
Sunrise, which operates residential living facilities, said the U.S. District Court for the Eastern District of Virginia gave an oral ruling on the case, which involved management agreements under which Sunrise manages four HCP-owned assisted living communities.
Sunrise still expects a formal order from the court.
The company's shares climbed 19 cents, or 3.4 percent, to $5.71.
Sunrise Senior Living says HCP case dismissed
Sunrise Senior Living says HCP litigation against it dismissed by federal court
On Friday April 30, 2010, 2:42 pm
http://finance.yahoo.com/news/Sunrise-Senior-Living-says-apf-1765129793.html?x=0
MCLEAN, Va. (AP) -- Sunrise Senior Living Inc. said Friday a federal court has dismissed all claims against it in litigation filed by HCP Inc.
Sunrise, which operates residential living facilities, said the U.S. District Court for the Eastern District of Virginia gave an oral ruling on the case, which involved management agreements under which Sunrise manages four HCP-owned assisted living communities.
Sunrise still expects a formal order from the court.
The company's shares climbed 19 cents, or 3.4 percent, to $5.71.