Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This a huge surprise to me. I never thought the test would warrant anyone attempting to sell it in a generic version but obviously, labor costs are so low in China that the limited sales the product has may be profitable.
In the last filings Radient filed, they indicated that the majority of kits sold were being shipped to their Taiwan distributor but this manufacturer is in Mainland China.
Jimtaxh, Radient had two patents on DR70. The first one expired last year and the next one in in 2014. IMO, the Chinese company considerse DR70 generic and is manufacturing it under the first expired patent.
I never thought anyone would attempt to sell a generic version but it looks like they are.
Jimtash, No, Radient is not waiting on any approval in China. When The Chinese SFDA rejected DR70 for approval in 2009, they wanted a MASSIVE trial done before reapplication. Radoemt decided to not do the expensive trials.
The links you provided is indeed a Chinese company marketing DR70 for lung cancer. They are stating it is for research only which is how they are manufacturing it for legalities in China but they are marketing it worldwide with multiple distributors. One of the distributors listed 200 kits for sale and the price range I saw was from $300 to $750 dollars.
This is not Radient and has no connection with them.
Jimtash, DR70 is not approved for sale by the Chinese SFDA. If you look at the specifications on some of the websites you listed, it states "For research use only. Not for diagnostic use."
I do in fact find this very interesting. The source of the kits appear to be coming from a company in Shanghai. It is too bad that Radient no longer has the money to file any SEC financial reports.
Take note that Radient has always marketed Onko Sure as a general cancer test and the Chinese company is marketing it as a lung cancer test.
Jimtash, I find your links very interesting and worthy of discussion. This is all in mainland China and Radient has no distributors of their test in China, just Taiwan. Jade is the only company in China who was connected to Radient and they revolted and Radient totally wrote them off.
This test is being marketed in China as a lung cancer test under the generic name of DR70. It is the standard 96 well ELISA test identical to what Radient sells.
Radient had two patents for DR70 and the first one has already expired. This looks to me like someone else besides Radient is now manufacturing and selling DR70 kits for lung cancer. These kits are not coming from Radient.
Radient has no money to pay for a press release. There is no longer any connection with Provista or GDX.
Emails to Provistadx have elicited a repeated response that their products have no connection with Onko Sure.
Timtash, the author of the post on Yahoo is from a poster who has repeatedly posted outrageously false information.
If you read the 8K from Radient on October 5, 2012. Any deal they had with GDX on lung cancer was canceled due to lack of payment from GDX.
Jimtash, sales of Onko Sure may have been a zero and they just got another order. You can never tell what is happening from Mac's comments. You just don't know what is happening because there have been ZERO financial filings for all of 2012. It was stated in the last 10K that the company only had enough processed antibody for 200 more kits and there would have been no money available to process more antibody.
If sales had remained at the 2011 level, they would have already run out of antibody so we do not know how low sales have dropped.
Sales are never going to pay operating expenses and no one is going to loan Radient more money because the over $18 million in loans are in default to the lenders and they could grab any money from any loans.
Jimtash, Runcoach gave you the company reasons for writing off CIT. The main one is patent life. CIT did a phase one which is only giving healthy volunteers the drug to see if it harms them. Apparently, it did not harm them. Then, someone would have to do a limited trial for efficacy which would take about a year or so. Then, the big extensive trial or multiple trials would be required as to whatever the FDA thought would be sufficient. These trials are very expensive and time consuming. From the formulation of the trials to drug approval would take about 5 years at best and then the drug may not work. Over 10 years of the patent are already gone so no pharma is going to fork over the dollars necessary for development and have it go generic a couple years after a possible approval.
That is why it is considered dead and no meaningful patent life left.
Moro has now defaulted on the Smithline loan. That certainly puts a new twist on Moro getting the death spiral type loans from Asher.
If Moro gets any more money form Asher, Smithline can just immediately claim it as an asset. I doubt if Asher will loan Moro any more money. If Moro gets no more loans from Asher, then the negative cost of operating Pacific BioSciences is coming right out of Moro's pocket and depleting the money he got from the SR&ED from overcharging BioCurex.
Moro is going to protect the millions he has pocketed.
Moro will not pay for an auditor for the 10K.
Moro will not keep operating Pacific BioSciences on his dime.
Sales of any Dog RECAF will cease unless he pays to get the tests processed elsewhere.
I also doubt Moro will file bankruptcy. That will cost money directly out of his pocket.
This stock is now just going to "blow in the wind" with no financial filings.
IMO, Moro will not file any more financial reports. He applied with the Texas state department to change the fiscal reporting year to July but that does not eliminate the need for a 10K for 2012.
Biocurex will become a non reporting pink sheet stock. It is the bottom of the OTC stock categories.
Le2dynasty, all of your links about Radient are OLD and were clearly stated to be dependent upon additional financing which DID NOT OCCUR.
Heavyweight, Radient CANNOT obtain any financing at all because they are in default to the 5 hedge funds for loans received in Feb 2011. Those debts have grown from $8 million to over $18 million with interest and penalties including all the sale of billions of shares.
No other hedge funds or any real investors will ever loan Radient any money. Last year, the defaulted lenders loaned Radient more money just to get the filings current so they could legally sell stock. Radient was supposed to file both a past due 10K and a past due 10Q. Only the 10K was filed.
Below is an email that a poster received from the transfer agent. We know for a fact that the email is in error. First, there are not 500 billion shares authorized. Secondly, the company stated on Oct 3, 2012 that a greater number of shares had all ready been issued. Which do you believe is correct, a supposed email with other errors or the company 8K?
"The shares authorized for Radient Pharmaceuticals are: 500,000,000,000.
Shares issued and outstanding as of today 2/13/2013 are : 3,234,065,954.
Thank you,
Christine Guay
Client Services
Corporate Stock Transfer, Inc.
3200 Cherry Creek Drive South, Suite 430
Denver, CO 80209
Ph: 303-282-4800
Fax: 303-282-5800
cguay@corporatestock.com "
You are actually using a post from Yahoo to prove the lenders are not selling? Really? That post stated a smaller number than even the company stated in an 8K in October.
The lenders loan the company $500,000 to pay the auditors and bring the SEC filings up to date so they can legally sell shares and then they don't sell? That is not only unbelievable but is ridiculous.
The lenders are selling and will sell right up to the 5 billion authorized. Is that bad? You should think about that for a while. When the lenders run out of shares to sell, then the ganblers and speculators can actually run the stock price up and I'm sure they will.
This company is worthless but that doesn't stop traders in their quest to profit from naive investors.
No Big Pharma will ever be interested in Radient. Onko Sure sales in the last reported year was just over $300,000 and that would not even cover the manufacturing cost of the kits. The sales per quarter were decreasing, not increasing.
Onko Sure has a huge number of false positives. That is the main problem.
Radient is NOT HIRING anyone. The last time I drove by their office, it was on Wednesday at 2 PM and the doors were locked and the parking lot empty. People keep posting old news on the board. Shorting the stock ten years old and Old job offers when Radient still had money.
All additional reverse splits authorization has expired. No more splits.
Le2dynsty, does the website have the unsettled trades for previous months also or just the past 30 days? If so, what site are you using?
This is going to be another good day for the lenders. At this rate, the lenders can max out the 5 billion authorized in about 2 to 3 weeks.
Keep the buying up. This is fun to watch and see what the lenders will do and how high the price will go when the lenders are out of shares.
The lenders probably sold close to 45 million today so that is above the average I calculated to reach the 5 billion in six weeks. An average volume is this area will run the lenders out of shares by mid March and if the enthusiam for speculation in this stock continues, the share price will definitely go up if the lenders do not sue for assets.
The email he got stated a lower figure than was stated in the 8K last October so it is not correct. Radient has no money to retire any shares or pay current or past due bills.
The transfer agent always gave the number over the phone but tired of all the calls they were getting and began telling the callers to contact Radient. Of course Radient never answers the phone and the mail boxes are all full.
I did some spread sheet calculations and it looks like the lenders can probably sell about another 750,000,000 shares before the 5 billion is reached. If the lenders do not sue for assets, at that point, the share price will probably go up.
So, stop claiming the lenders are not selling and hope they run out of shares at 5 billion. That is your best prospect to make money trading the stock of a near death company.
blackPanther, the lenders are going to keep selling until the 5 billion is reached. That is just a fact.
It took a long time for the lenders to move their ask to .0002. There are 5 of them and it would be difficult to get all of them going along with a selling program. There is no written agreement giving them an equal number of shares so everyone is on their own. If the volume drops and one of them breaks the group and begins selling at .0001, he sells all the shares and the others get nothing so they will follow to .0001 also.
If there was any 8K released with anything positive, it would help. MacLellan is not going to release a PR because that costs money. Mac is also probably not going to release any more false news because that is what got him in hot water with lawsuits and the lenders. IMO, he will just let the lenders sell the 5 billion shares and hope they don't sue him for personal assets.
If the volume remains high, the lenders can probably sell for another 6 weeks before they reach the 5 billion authorized. If the volume drops, they will be back selling for .0001.
Runcoach, Radient published the number of outstanding shares in an 8K stating 3,235,210,154 shares outstanding.
The Jun 15 number was 1,347,936,151 shares outstanding.
Using the total trade volume between those two dates and the difference in outstanding shares, the lenders sold 52% of the total trade volume.
At this point, I would estimate the OS sharecount at about 4 to 4.2 billion and if the volume continues as in the past week, the 5 billion will be reached sometime in March.
IMO, reality is setting in with the lenders that this evolution is coming to an end and they have reduced selling some and the price has increased. I really don't see the share price going above .0002 much until the lenders are out of shares. When the lenders are finally out of shares and the 5 billion mark reached, unless the lenders sue for assets, the share price will go a little higher.
A lot depends upon the lenders suing for assets, Radient being able to continue making kits and staying in business.
Shwetta, most of the items in your post are totally untrue.
JTI is NOT working on CIT. JTI has ZERO money just like Radient and Radient has written off any value claimed for CIT. According to the last 10K, NuVax has "Zero" current activity due to lack of funding.
Umesh is no longer the CEO of NuVax. Umesh made a TON of false statements during all the hype for DR70 and CIT in India. He is about the biggest liar I have ever heard. He told more lies than even MacLellan and there is a class action lawsuit in progress against MacLellan for the false PR's he released.
You do not even know the purpose of phase I in clinical trials. Phase I has nothing to do with cure. In phase I, a small number of healthy subjects are given the drug to see if it harms them. Apparently, CIT did no harm in the small trial. Phase II is where a limited number of subjects are given the drug to test efficacy.
Try all you can to find something positive about Radient but don't post blatently false information.
When Radient filed the 10K in June 2012, they only had enough antibody to manufacture 200 kits.
"We currently have enough purified and quality checked anti-fibrinogen-HRP to manufacture 200 kits."
At $400 per kit, that would be $80,000 in revenue. Considering that the last quarter of 2011, the revenue was $56,000 and decreasing, the 200 kits could last for about 6 months unless sales have dropped to half previous levels.
The question remains, Would $80,000 in revenue be enough to pay the consultants to manufacture the kits, pay the rent and utilities and also pay for a high level scientist to purify more antibody? They have the raw material but can they get it purified?
In the 2011 financial filings, Radient stated that most of the sales were from Taiwan. However, the last sales reported were declining, not increasing.
Radient attempted to get approval in China. The test was REJECTED by the SFDA. If you attempt to market an unapproved test in China, you can be put in jail. Some years ago, they hung the head of the SFDA for corruption and there is ZERO tolerance now.
http://www.washingtonpost.com/wp-dyn/content/article/2007/07/10/AR2007071000165.html
Konshe, no, it is not really useful. There are a TON of false positives when used for screening. It is a proven fact that if you would screen the general population with Onko Sure, there would be about 50 false positives for every positive who actually had cancer and those caluclations use a high range specificity of 95%. The actual specificity is much lower.
You should read the FDA submission when this test was in trials. The test is positive for TONs of conditions other than cancer.
Why do you think this test has never been accepted for general use in the USA? It is worthless. Provista even ran clinical studies on it and they have dropped the test.
False PR's by Radient in 2011. That is what the lawsuit is all about.
1. They claimed there was a government program for DR70 in India. It was a lie.
2. They claimed the Mayo Clinic was running trials for a new version of DR70.
2 They claimed the CIT technology was going into clinical trials in India.
It was all lies.
Dec 4, 2012, Lawsuit, False Claims by Radient Pharmaceuticals.
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
My guess is that it is now empty. Moro probably stole the remaining half.
BlackPanther, you are posting OLD NEWS.
The Univ of Florida cancelled the agreements with NuVax and the technology is again available for license at the following site.
http://apps.research.ufl.edu/otl/viewTechInfo.cfm?case=12742
Neither Radient nor NuVax have any current agreements with the Univ of Florida.
Plackpanther, you are incorrect. From the last 10K:
"In January 2011, NuVax signed four exclusive license agreements with the University of Florida Research Foundation, Inc. (“UFRF”), for the development and marketing of a cancer therapeutic product developed by the UFRF. In July 2011, the UFRF terminated the agreements due to lack of funding.
Until we can complete funding for NuVax, we will continue to have minimal activity in NuVax."
All agreements with the Univ of Florida have been Cancelled by the Univ of Florida for lack of payments from Radient. (see 10K for 2011)
There is NO partnership remaining with the Univ of Florida.
The original patent for Onko Sure expired last year. A follow on patent will expire in 15 months and that's the end of the patents for Radient.
Any potential investment that Radient could possibly get would IMMEDIATELY be claimed by the leanders who are owed over $18 million in defaulted loans.
That point makes it impossible to obtain any additional financing.
Radient will not ever get any more financing. Their product will never be profitible so it is the end of the road for Radient.
Mike, the facts that I post come from the 2011 filings and from the 8K's filed in 2012.
There are only 2 remaining employees, the ceo and cfo. All the rest of the employees have been laid off. Radient is now paying 2 former employees for part time work as needed to fill any orders for onko sure. (that is from a filing)
Radient has no money to do anything. (that is from a filing)
Sales of Onko Sure was dropping each quarter in 2011. The product is a failure.
The doors to the offices are locked. I personally checked about in early December, once at around 10 AM and the following day at about 2 pm. On the first day, there was one car parked in their spaces and none the second day.
Radient is still deeply in debt. The 5 lenders were owed about $18 million and in the past year, the lenders have only been about the convert and sell about 4 billion shares for a total of around $400,000. The interest on the notes was more than they got selling shares so now Radient owes even more than before. No one, absolutely NO ONE is going to give Radient any more money.
Cashking, no one shorts this type of penny stock. If you look at the actual bi-weekly short report, I think it last stated 13 shares. Since this stock has been selling at .0001, about 4 billion were sold and most of those would be happy just to get their money back.