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SRL in India is indeed selling Onko Sure but it was approved for sale in Inda as DR-70. The information on the SRL website indicates 48 tests per kit. That would be the max without any calibration. With calibration, Radient has stated that 42 test are useable in each kit.
Jimtash, I did not remove any link. Read "The Change to Sticky Posts". Ihub removed all stickies and you are now limited to one sticky per moderator and only that moderator can remove or replace his selected sticky.
The Chinese BioTech is NOT manufacturing for Radient. There is even a company in Atlanta selling the test online and it is listed as DR-70TM and not Onko Sure which is the official name change from DR-70®.
A sales rep for the Chinese BioTech stated there was no connection to Radient Pharmaceuticals that she was aware of. What more does any astute investor need to understand the situation. Radient's expired patent has gone generic.
When are you going to cease the attempt to say this is something positive when it the exact opposite?
Generic DR-70, Chinese not connected with Radient.
Class action lawsuit proceeding. Radient OTC (NO INFORMATION).
Posted on: December 4th, 2012 by Nadine Gartner
Contact Nadine Gartner . More blog entries by Nadine Gartner .
Judge Grants Class Certification Over False Claims by Radient Pharmaceuticals.
A federal judge in the Central District of California has certified a class of investors in a pending securities fraud lawsuit against Radient Pharmaceuticals. Judge David O. Carter held that the plaintiffs, who claim they are defrauded investors, are entitled to class action status.
At the time of the alleged offense, Radient’s main business comprised the research, development, manufacturing and sale of Onko-Sure, a government-approved in vitro cancer test. In 2010, Radient reported revenue of $232,000, operating expenses of more than $14 million, and a net loss of $86 million.
According to the plaintiffs, the company needed a cash infusion when executives issued a press release on January 18, 2011, claiming that Radient had entered a clinical trials agreement with the prestigious Mayo Clinic. That assertion allegedly helped raise private placements of $8.4 million for the company.
Plaintiffs further claim that the press release was false and misleading because Radient had no meaningful partnership agreement with the Mayo Clinic and no joint studies were planned. Problems with the press release came to light in March 2011, and Radient’s stock dropped by twenty-one percent.
http://blogs.ocweekly.com/navelgazing/2012/11/radient_pharmaceuticals_securi.php
http://investorshub.advfn.com/boards/manage_msg.asp?message_id=85199322
Jimtash, Your posts would be more meaninful if you would at a minimum read some of the SEC flings. In 2009, Radient changed their name from AMDL to Radient and at the same time changed the name of DR-70 to Onko Sure.
In 2011 Radient filed a third patent applicaton for DR-70/onko sure. It was rejected by the patent office. Their first patent expired last October and the second patent will expire in 2014.
Why are you bringing up all this old stuff which is meaningless?
Rdient lists two distributors in the USA. GenWay in San Diego and Grifols USA. Until recently, GenWay offered Onko Sure as a test called "firstMark".
Jimtash stated: "Many of the Chinese links are dated from October of 2012. Guessing that's when their inventory was coming on line."
Interesting. October 2012 was exactly when Radient's first patent for DR-70® expired.
This is the last email I sent to the Chinese BioPharma.
"Hi Joy,
Thanks for the manual and information on the test.
One more question. Is your company connected in any way with Radient Pharmaceuticals in the USA.
Thanks again,
Jim"
*****************************************************
This is her response to the above question.
"Hi Jim,
Nice to receive your e-mail again.
As far as I know, we don't have any connection with Radient Pharmaceuticals.
Best wishes!
Joy
--------------------------------------------------------------------------------
Joy Yan
Sales&Marketing Dept. CUSABIO BIOTECH
Tel:+86 27 87928272 Fax:+86 27 87196150
Web:www.cusabio.com ; Email:america.joy@cusabio.com
Pastbroker, If you look at the website for the Chinese BioPharma involved, they have hundreds of products they sell. The list is HUGE. Radient had about $300,000 in revenue for their last reported year but that dropped from the 2010 level.
For the Chinese, their overhead is shared by all the other products so why not add another $300,000. From the last 10k filed, most of the sales were to Taiwan and Vietnam. The Chinese could readily fill that market.
Conducting the size of trial for DR-70 that the Chinese SFDA wanted would have been very expensive for Radient so that is why they ceased attempting to gain approval for China sales. The Chinese company probably will not run trials and seek SFDA approval. There are plenty of other countries that do not require approval and for the ones who do, they can just use Radient's approval and probably get approved on that basis.
BTW, I do not hate anyone. I just think MacLellan is a slimeball.
Jimtash, all of my assets are now in real estate but during the years that I invested in the stock market, I saw a lot of things I did not like. The most detestable were CEO's that lied. Next were the traders who posted dubious information to entice naive investors. I find that dispicable.
Yes, I post information on this stock for the benefit of anyone reading my posts. I have nothing to gain but hope that my posting helps save some people from losing their money. I am almost 70 and retired so my time is NOT a problem.
Jimtash, do I believe what MacLellan says? Well, during the past year, production may have gone to almost ZERO so any sales at all would be an increase in production.
That's what MacLellan does. He always bends the truth and sometimes even breaks it and that is the reason for the class action lawsuit.
Jimtash, why do you think it is good that Provista dropped LC Sentinel, GCDx never got the funding to carry forward on the license for lung cancer with Radient and now a Chinese company is marketing a generic DR-70 test for lung cancer?
Absolutely NONE of that is good news.
Posts on this board about mergers, buyouts and other deals are just wishful dreams hoping to get naive investors to buy shares.
Nothing could be further from the truth. No company is going to buy or merge with Radient and take on a huge debt and a low selling product that doesn't even meet manufacturing expenses for Radient. In addition, a Chinese company is now producing a generic test that would erode any sales Radient has.
If you want to speculate on small gains as a trader, fine, go ahead but don't in any way think this company is going to rise out of the ashes.
Jimtash stated: "I believe to be a test using both LC Sentinel and Onko Sure that will be combined as one test using both the CLIA and ELISA methods."
That is a HUGE error.
First of all. LC Sentinel was just an Onko Sure test with a different name.
Secondly, CLIA is NOT a test method. CLIA is a standard set by the federal government for guidelines on how a clinical lab should operate.
Thirdly, ELISA stands for "Enzyme-linked immunosorbent assay" and is a low cost method of immunoassy for tests that do not have a huge sales volume. Onko Sure and many others are ELISA tests. If a test is successful, pharmas will move it to a more cost effective high volume automated analyzer.
Cashking stated: "Trust me I know what's going on they are playing dead right now"
Yes, I will agree that Radient is doing a really, really good job of acting DEAD.
Last year, the lenders loaned them another $300K to bring their SEC financial filings up to date with a 10K followed by the past due 10Q. Well, Radient filed the belated 10K but never followed through with the 10Q filing. You know the lenders really liked that.
In all of the time to date, the lenders have sold about 3 billion shares and have gotten less than $600,000 from the sales. The debt was over $18 million so with penalties and interest, Radient owes even more now than last year.
Yes, Radient is doing a great job playing DEAD.
Cashking, well, I just sent a response asking her point blank if they were connected with Radient. We'll see if she responds.
As for the name of the test, it is different. "DR-70TM". Maybe that is the name they chose. Chinese computers as well as my computer can print DR-70™ or DR-70® if they wanted to do so.
We know the original patent for DR-70® expired in Oct 2012 so the time frame is absolutely correct for a generic test to legally be marketed. What is left now is a battle to see if the second patent offers any protection but Radient is in no position money wise to participate in any kind of legal battle.
Jimtash stated: "Why would she mention Radient? You left it out I'm sure."
This is what I asked in the email:
" Hi Joy,
Thanks for answering my note. A couple more questions. Is this test similar to the DR-70 test manufactured by Radient Pharmaceuticals in the USA? Is your test specific to lung cancer or does it also detect multiple cancers as well?"
This is the response I received:
"Kindly we have human DR-70 ELISA kit and here attached is the manual for your reference.
For test specificity, it's designed to measure DR-70 but the concentration would not only increase in lung cancer patients but also other cancers such as liver cancer or breast cancer, though with different levels.
Since all our ELISA kits are developed just for research use only, kindly there's no guarantee for disease specificity.
Any questions, feel free to contact me! "
She had the opportunity to say if they were a making the test for Radient and I think she clearly would have done so if that was true. It is clearly obvious that the Chinese company has absolutely no connection with Radient.
I just sent her another email. This time I asked her point blank about any connection with Radient.
"One more question. Is your company connected in any way with Radient Pharmaceuticals in the USA."
For those of you who think the Onko Sure test has value, any value just got sucked away by a Chinese biopharma. I personally do not think the Chinese biopharma is going to make any money with the test either.
Well, Joy.America answered the email but she certainly did not respond to anything about Radient. She just said the test also indicated for other cancers (just like Onko Sure) and she included the manual on running the test.
"Hi Jim,
Kindly we have human DR-70 ELISA kit and here attached is the manual for your reference.
For test specificity, it's designed to measure DR-70 but the concentration would not only increase in lung cancer patients but also other cancers such as liver cancer or breast cancer, though with different levels.
Since all our ELISA kits are developed just for research use only, kindly there's no guarantee for disease specificity.
Any questions, feel free to contact me!
Best wishes!
Joy
--------------------------------------------------------------------------------
Joy Yan
Sales&Marketing Dept. CUSABIO BIOTECH
Tel:+86 27 87928272 Fax:+86 27 87196150
Web:www.cusabio.com ; Email:america.joy@cusabio.com
Jimtash,
Your post has some errors as to the dates and the amount of O/S shares.
Look at the email again and clarify the dates and the number of shares.
"The shares outstanding as of today 2/19/2013 are: 3,686,510,329.
Thank you,
The shares outstanding for Radient Pharmaceutical as of today 02/27/2013 are: 3,686,510,329.
Thank you, "
What did the email say or was that two emails and no change in the number of shares?
You should also understand that the lenders are paying a fee each time shares are issued by the TA regardless of the number. The lenders have 45 days under the SEC rules to have shares issued to their brokers and resolve the trades. They would wait and accumulate a large number of sales before they got the shares issued by the TA.
Jimtash, I just sent a reply. We will see if she answers the questions. You have to love that email address she has. America.joy. It's like all those customer service agents in India who use american names.
Hi Joy,
Thanks for answering my note. A couple more questions. Is this test similar to the DR-70 test manufactured by Radient Pharmaceuticals in the USA? Is your test specific to lung cancer or does it also detect multiple cancers as well?
Thanks again,
Jim
-----Original Message-----
From: america.joy <america.joy@cusabio.com>
To:
Sent: Tue, Feb 26, 2013 11:59 pm
Subject: Re:customer inquiry of CSB-EP013481RA
Hi Jim
We manufacture the kit and kindly it's just for research use.
As it's not a kit for diagnostic use, currently it's approved for marketing all around the world.
Thanks
Best wishes!
Joy
--------------------------------------------------------------------------------
Joy Yan
Sales&Marketing Dept. CUSABIO BIOTECH
Tel:+86 27 87928272 Fax:+86 27 87196150
Web:www.cusabio.com ; Email:america.joy@cusabio.com
Cashking, if your team has 30%, then where is your form 13?
Jimtash, All I asked in the email was if they were a distributor or a manufacturer. If they were in fact manufacturing it for Radient, I don't think she would have included the fact that the test was for research only. Also, there is a distributor of their product in Atlanta, I will call them today. The Chinese BioPharma has world wide distributors.
Provista a new distributor? Where did you hear that? From that Wolf guy on Yahoo? That's a great source, he lives in a dreamworld.
Jimtash, If they were manufacturing it for Radient and had some sort of license, you would have seen an 8k by now. They are not even using the same antibody in the test. Regardless of what some other posters may say, the email was real. Her email address was included in the email. Send her a note. I just asked if they were manufacturing the test or were a distributor. I asked nothing about radient. If I asked about the legalities of her test, she probably would not have answered me.
It is also a fact that GenWay has dropped Onko Sure from their website. None of this is good news for Radient.
Jimtash, I agree with you. Radient would have a decent case for patent infringement but good luck suing a Chinese company. Look at what happened between Jade and Radient. Radient owned Jade but Jade just walked away and their Radient could do nothing about it.
This is a response email I got from the Chinese BioPharma. They are indeed manufacturing the kit and it is NOT from Radient. The Chinese SFDA is even more strict than our FDA. Stating it is for research use is the way they can legally manufacture it in China. Once the kit is sent out of China, it can be used for any purpose. This is most certainly NOT a positive development for Radient.
************************************************************
"Hi Jim
We manufacture the kit and kindly it's just for research use.
As it's not a kit for diagnostic use, currently it's approved for marketing all around the world.
Thanks
Best wishes!
Joy
--------------------------------------------------------------------------------
Joy Yan
Sales&Marketing Dept. CUSABIO BIOTECH
Tel:+86 27 87928272 Fax:+86 27 87196150
Web:www.cusabio.com ; Email:america.joy@cusabio.com"
***********************************************
Note for Peggy: lots of ELISA tests use mouse antibody but Radient used Rabbit antibody. That became a problem for Radient. The manufacturer ceased making the rabbit antibody and Radient only had a limited supply of material for their test. That was also part of the lies about the Mayo Clinic. They were supposedly running trial using a new antibody but obviously, it turned out that they were not.
Look at the first link Jimtash posted. The Chinese company selling the DR-70 test is using Rat/Mouse antibody in the test.
http://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.919117.com/shsaimo-Products-12022317/&prev=/search%3Fq%3D%25E4%25BA%25BA%25E8%2582%25BA%25E7%2599%258C%25E6%25A0%2587%25E5%25BF%2597%25E7%2589%25A9%2Bdr-70%26hl%3Den%26client%3Dfirefox-a%26rls%3Dorg.mozilla:en-US:official&sa=X&ei=jsstUav0PIeGiQL3-oCQBQ&ved=0CDQQ7gEwAA
"The rat mouse lung cancer marker DR-70 (DR-70TM) ELISA Kit"
Radient uses Rabbit antibody in their Onko Sure test, not Rat/Mouse.
From the FDA approval website:
"Antibody Types Polyclonal (rabbit)"
Look at page two.
http://www.accessdata.fda.gov/cdrh_docs/pdf7/K072901.pdf
The Chinese company in NOT marketing Onko Sure. They are producing a generic test based on the expiration of Radients first patent.
Radient is HISTORY folks. Anyone buying this stock now are just being total saps. There is no buyout. There is no deal with Provista. GenWay has dropped Onko Sure. The lenders are close to having sold shares to the 5 billion authorized limit and then may seek to take and sell any assets remaining.
Onko Sure has been dropped from the GenWay FirstMark website.
http://www.thefirstmark.com
The following is from a post on IHUB in 2011.
"Onko-Sure is being marketed in Canada as FirstMarkONC
Yes it is the same test. We license it from AMDL/Radient and have re-branded it as FirstMark ONC. Please visit our website at: www.thefirstmark.com
Thanks,
Chris
Chris Russo
GenWay Biotech, Inc.
6777 Nancy Ridge Dr.
San Diego, CA 92121
Phone: 858 458 0866 ext 116
Fax: 858 458 0833
Email: crusso@genwaybio.com "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59856625
The following website is no longer operable.
FirstMark ONC Oncology Health Monitoring Test - Cancer Testing ...
legacy.thefirstmark.com/yty.php?fid=4001
Jan 5, 2011 – The You Test You™ Cancer Assessment is now FirstMark ONC, the ... GenWay currently offers this test in the United States and Canada.
GenWay has allowed the previous website to expire.
http://www.webstatsdomain.com/domains/legacy.thefirstmark.com/
Genway was the US distributor for Onko Sure for all applications except colorectal cancer.
Jimtash, are you saying that Google is not smart enough to translate correctly? It is easy to use the correct script.
DR-70®, or DR-70™
Google used the TM because that is exactly what the Chinese website used.Below is a quote from the Chinese website, NOT THE TRANSLATED VERSION.
"DR-70TM ELISA Kit"
The ™ is used by companies who have not registered their trademark. DR-70® in in fact a registered trademark of AMDL, the former Radient.
I cannot respond any more, I am out of posts for today.
RXPC OTC rating, "NO INFORMATION", the lowest level. Radient made no financial filings for 2012 and none are expected for 2013. The last financial filing was the 10K for 2011.
Well, it has been an interesting day for this stock. Very little volume and we discovered that DR-70 was now being manufactured and sold by a Chinese BioPharma to test for lung cancer. That is also the probable reason why Provista dropped the LC Sentinel test which was just Onko Sure for lung cancer.
With the competition from China, it would be difficult for Provista to make a profit.
The volume today is extremely low so what happened?
Have the lenders maxed out the 5 billion authorized shares and can sell no more?
I was estimating they would max out sometime in late February or March. The high volume of unsettled trades lately are a good indication that the lenders could be out of shares.
Jimtash, TM means trademark but it really doesn't mean anything other than the company claims rights to the name. It does not have the power of the R in a circle which is a federally registered trademark.
Onko Sure is the registered trade mark for Radient.
DR-70 is also a registered trade mark for AMDL.
Both of those would have the ® symbol
Jimtash, I agree that there is no accurate information about Radient right now as to the sales of Onko Sure but the links you posted clearly indicate that a Chinese company is manufacturing and selling a DR-70 lung cancer test. The key word in "manufacturing" and they are attempting to sell worldwide. IMO, that is exactly what a company would do if they were selling a test from an expired patent.
LC Sentinel from Provista was supposed to be for lung cancer and this all happened at the same time the deal with Provista fell apart. Provista has now dropped their LC Sentinel test from their website. This all fits with Provista being undercut from a manufacturer in mainland China.
Jimtash, SRL is a sub distributor of Umesh Bahatia who is the Onko Sure distributor in India. The article states that 2000 were tested in the past 6 months. There are 42 tests in each kit so that is 47 kits used. Umesh has a stock of kits from back in the days of the India hype so this would not have been a new order of kits from Radient.
"The U.S. Patent and Trademark Office has issued to us two patents which describe methods for measuring ring-shaped particles in extra-cellular fluid as a means for detecting cancer. Our patent for a method of detecting the tumors using ring shaped particles as a tumor marker was issued on October 17, 1995 and expires on October 17, 2012. Our patent for a method for detecting the presence of ring shaped particles as tumor markers was issued on June 3, 1997 and expires on June 3, 2014."
The first patent expired last October so the time frame is about correct for someone to be marketing a generic test. If it could be considered a violation of the second patent, that would probably have to be determined in court.
Blackpanther, Radient cannot sell any shares for their own benefit. Radient has no current S-1 allowing such sales and besides, the lenders are very close to maxing out the 5 billion authorized limit.
Product Name:
Human tumor marker DR-70 for lung cancer,DR-70TM ELISA Kit
Product Type:
ELISA Kit
Code:
CSB-E09405h
Size:
96T
Species:
Human
Target Name:
tumor marker DR-70 for lung cancer,DR-70TM
Abbreviation:
DR-70TM
Detect Range:
Request Information
Sensitivity:
Request Information
Assay Time:
1-4.5h
Sample Volume:
50-100ul
Detection wavelengt:
450 nm
Download:
Protocol may be improved. Please feel free to contact CUSABIO product specialist to obtain the latest version.
Intended Use:
For research use only. Not for diagnostic use.
Jimtash, FYI, the sales by SRL in India are coming from Umesh Bahatia who is in fact a Radient distributor in India. This was in previous information while Radient was still current in SEC filings.
This is all just bad news for Radient. Even if this would be considered a violation of Radient's last unexpired patent, Radient has no money to fight a patent infringement.