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I agree. We used to have a rally in January, but the way we started this new year I fear that this is just the beginning of an ominous year ahead.
I suspect that it won't be before mid 2008 that we might see a reverse in the market.
GM stuffit, I know the feeling.
I am having a cold and didn't sleep well either last night.
AMRN - Amarin to Commence Phase II Trial With AMR101 in Age Associated Memory Impairment
Thursday January 10, 6:30 am ET
LONDON, January 10 /PRNewswire-FirstCall/ -- Amarin Corporation plc (NASDAQ: AMRN - News) today announced that it has received the necessary regulatory and ethical approvals to commence a Phase IIa trial in Age Associated Memory Impairment (AAMI) with AMR101 (ultra-pure ethyl-EPA).
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The Phase IIa trial will be a randomized, double-blind, placebo-controlled study. The trial will enroll 96 patients with AAMI who will be randomized to receive 1, 2 or 4 grams of AMR101 or placebo twice daily over a six-week period. Efficacy will be assessed by a computerised battery of cognition tests designed by Cognitive Drug Research (CDR) Ltd, a world leader in the provision of innovative cognitive function assessment technology. The study is being conducted in the U.K. and patient recruitment is expected to commence shortly, with initial results expected in the second half of 2008.
Dr. Declan Doogan, Head of Research and Development at Amarin commented, "AMR101 has already demonstrated promising positive effects in classical preclinical models of memory and cognition. We are pleased to receive approval to commence this study with AMR101 and look forward to assessing its effects on AAMI, an area of growing medical concern in all developed nations with aging populations."
Amarin had previously announced positive results from a pre-clinical program in memory and cognition using AMR101, conducted in collaboration with Professor Marina Lynch, Department of Physiology, Institute of Neuroscience, Trinity College, Dublin.
About Age Associated Memory Impairment (AAMI)
AAMI is a recognized syndrome relating to memory changes associated with normal aging. AAMI is a common condition in individuals over 50 years of age. In the United States, it is estimated that approximately 40% of people aged 65 and above, or 16 million, have AAMI. It is characterized by gradual memory impairment (subjective memory decline and objective memory loss) with the absence of dementia. Individuals with AAMI have been shown to have a three-fold greater risk for development of dementia than individuals who do not meet AAMI criteria.
GM SL!
I agree. Volume proceeds price?
Let's hope we get some good news soon.
gl to us
This is excellent news for VION. They have a couple more phII trials and they also announced that they are looking for a (European) partnership
Thank you, hope so!
Cheers
My gold stock
Vion Pharmaceuticals Announces FDA Lift of Clinical Hold on Phase III Study of Cloretazine(R) (VNP40101M) and Cytarabine in Relapsed AML
Tuesday January 8, 8:00 am ET
Company to Hold Conference Call at 10:30 A.M. Eastern Time Today
NEW HAVEN, Conn., Jan. 8 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (Nasdaq: VION - News) today announced that the U.S. Food and Drug Administration (FDA) had lifted the clinical hold on the Phase III trial (Vion Study CLI-037) of its lead anti-cancer agent, Cloretazine® (VNP40101M), in combination with cytarabine in relapsed acute myelogenous leukemia (AML).
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Alan Kessman, Chief Executive Officer, said, "We are pleased with the FDA's decision to lift the clinical hold on Cloretazine® (VNP40101M) in combination with cytarabine in relapsed AML, and are now poised to move forward with the clinical development of Cloretazine® (VNP40101M) in the relapsed setting."
While this trial remains blinded overall, a portion of data on 210 patients was unblinded for review at interim analysis. The Company's medical consultants and external independent reviewers performed a comprehensive safety analysis of Vion Study CLI-037. This analysis concluded that the combined myelosuppressive effects of Cloretazine® (VNP40101M) and cytarabine given at the dose and schedule at which they were combined in the trial, in conjunction with the poor hematologic reserve of patients with relapsed AML, were major factors in the difference in mortality seen between the two arms of the study. A review of records from patients who died did not suggest any previously unreported toxicity for Cloretazine® or cytarabine.
There was an increase in the response rate observed on the Cloretazine® (VNP40101M) and cytarabine arm of the trial relative to the cytarabine and placebo arm, despite the difference in deaths between the two arms. Given this observed increase in response rate, the Company has proposed an amended trial to continue its interest in the relapsed setting.
An agreement has been reached with the FDA on modifications to Vion Study CLI-037. The revised study includes a lower dose of Cloretazine® (VNP40101M) in the experimental arm of the trial and prophylactic therapy with antibiotics, antifungals and growth factors for all patients. In order to maintain the Special Protocol Assessment (SPA) with the FDA for this trial, the next step is to submit an SPA to the FDA with these modifications before recommencing the trial.
Dr. Frank Giles, Chief of the Division of Hematology and Medical Oncology at the University of Texas Health Science Center at San Antonio, and lead investigator on the Cloretazine® clinical program stated, "Cloretazine® has recently shown very significant single agent activity in a the difficult to treat elderly AML patient population. It is important that we now establish the optimal dosing schedule in combination with other chemotherapeutic agents, such as cytarabine." He concluded, "Modifications to this Phase III trial in patients with relapsed AML will allow us to examine a combination schedule that should maintain the activity observed in the initial portion of the study with an acceptable marrow toxicity profile."
The Company also announced plans to file an abstract on data from Vion Study CLI-037 for the Annual Meeting of the American Society of Clinical Oncology (ASCO®) in June 2008.
Ann Cahill, Vice President, Clinical Development, commented, "Cloretazine® (VNP40101M) is an active agent in AML, and we continue to believe that it will have clinical utility in both the frontline and second line settings, as either a single agent or in combination with other therapies."
The Company has announced previously that it plans to file a New Drug Application with the FDA in 2008 based on a pivotal Phase II study of Cloretazine® (VNP40101M) as a single agent in elderly patients with de novo poor-risk AML. Preliminary data from this study were presented at the 2007 Annual Meeting of the American Society of Hematology (ASH®) in December 2007.
Conference Call Details
Vion will hold a conference call on Tuesday, January 8, 2008, at 10:30 a.m. Eastern Time. To participate in the conference call, please dial (866) 825-3209 in the U.S. (617) 213-8061 for international callers) at least 15 minutes before the start of the call. When prompted for a passcode, please enter 77697895. An audio webcast of the call will be accessible at www.vionpharm.com. Those who wish to listen to the conference call on the Web should visit the Investor Relations section of the Company's website at least 15 minutes prior to the event broadcast, and follow the instructions provided to assure that the necessary audio applications are downloaded and installed. These programs can be obtained at no charge to the user. A replay of the call will be available two hours after the completion of the call at (888) 286-8010 in the U.S. ((617) 801-6888 for international callers), pass code 45545274.
Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative cancer therapeutics. Vion has two agents in clinical trials. Cloretazine® (VNP40101M), a unique alkylating agent, is being evaluated in a Phase II pivotal trial as a single agent in elderly patients with previously untreated de novo poor-risk acute myelogenous leukemia. Clinical trials of Cloretazine® (VNP40101M) as a single agent in small cell lung cancer, with temozolomide in brain tumors, and with stem cell transplantation in advanced hematologic malignancies, are also being conducted. Triapine®, a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute. For additional information on Vion and its product development programs, visit the Company's Internet web site at
gm stuffit, I am afraid so.
GM SL, and all
ONCY - Oncolytics Biotech Inc. Announces Filing of Phase 1/2 Clinical Trial with REOLYSIN(R)
GM stuffit, Kujo
European stocks add to losses; retailers drop
PARIS, Jan 3 (Reuters) - European stocks dropped on Thursday morning, adding to the previous session's sharp losses as shares of retailers sank following a profit warning by DSG International (DSGI.L: Quote, Profile, Research) and a cautious outlook from Next (NXT.L: Quote, Profile, Research).
But the fall was cushioned by rallying energy shares after oil prices reached the $100 mark for the first time on expectations of a drop in U.S. stockpiles.
At 0953 GMT, the FTSEurofirst 300 index of top European shares was down 0.6 percent at 1,477.68 points, a level not seen since Nov. 28.
The index fell 1.3 percent on Wednesday, the first session of the year, after closing 2007 with a meagre 1.6 percent gain, its worst performance since 2002.
The DJ Stoxx retail index was down 2 percent. DSG tumbled more than 19 percent after the electrical goods retailer said its annual profits would miss analysts' expectations after poor Christmas trading.
Shares in Next, which warned that its 2008 outlook was "extremely cautious" as consumers face increasing demands on their finances, were down 4.4 percent.
Other retailers were on the downside, with Marks & Spencer (MKS.L: Quote, Profile, Research) down 3 percent and Carrefour (CARR.PA: Quote, Profile, Research) down 1.2 percent.
Investors were also fretting about the outlook for the U.S. economy following weak manufacturing data released on Wednesday.
The Institute for Supply Management's index of U.S. factory activity fell to 47.7 from 50.8 in November, well below expectations and the weakest since April 2003. A reading below 50 indicates contraction in the sector.
"The ISM numbers showed that the slowdown in the manufacturing sector is a reality," said Jean-Marc Lucas, economist at BNP Paribas, in Paris.
"On the one side, you have economic data pointing lower, and on the other side record oil prices that raise concerns over inflation, a difficult situation for the Fed. The data fuel the stagflation theme, but we think that recession risks are much greater than inflation risks," he said.
Stagflation, when prices rise and growth stagnates, was last seen in the late 1970s. It could pose a dilemma for the Federal Reserve as policies aimed at boosting economic growth may fuel inflation, while policies used to fight inflation could weigh on an economy already grappling with fallout from the housing slump.
Oil prices hovered just below the $100 a barrel they touched a day ago after expectations of falling U.S. stockpiles, the weakening U.S. dollar and geopolitical risks sparked a rally.
Total (TOTF.PA: Quote, Profile, Research) was up 1.4 percent and Royal Dutch Shell (RDSa.L: Quote, Profile, Research) up 1 percent.
U.S. weekly inventory numbers will be released on Thursday at 1530 GMT. According to a Reuters poll, U.S. crude oil inventories were expected to have fallen by another 2.2 million barrels last week, a seventh successive weekly draw.
Oil prices climbed 57 percent in 2007.
Around Europe, Germany's DAX index .GDAXI was down 0.4 percent, UK's FTSE 100 index .FTSE flat and France's CAC 40 .FCHI down 0.3 percent.
On the macro front, investors were bracing for U.S. monthly jobs figures, due on Friday at 1330 GMT. The data could shed light on the health of the U.S. economy and the outlook for interest rates.
$100 oil may be just the start
It's getting harder and more expensive to find new oil deposits, and global demand is growing. But there's so much speculation in crude oil that a bubble may be forming.
MoreCrude oil hit $100 a barrel for the first time Wednesday, and the odds are that it will keep climbing -- with major consequences.
If crude stays above $100 a barrel for an extended period, "you could see gasoline prices at $3.60 or $4 a gallon, which is absolutely frightening," Paul Ashworth, senior U.S. economist at Capital Economics, a London research firm, told The Wall Street Journal on Wednesday. "It's going to have a fairly devastating impact."
And that's on top of a lot of pain already. At the end of 2007, estimates analyst Peter Beutel of Cameron Hanover, American consumers and businesses were paying $370 million more for gasoline each day than they had been a year earlier.
The fact is that no one knows how much higher oil will go. But the forces behind the increase are the ones that pushed oil up 57% in the last year:
Rapid global demand, especially from China and India, that's outstripping supplies. Iran and Venezuela have resisted calls for the Organization of Petroleum Exporting Countries to boost production, ostensibly because they don't want to help the United States. The real reason is that both are having trouble meeting their current production quotas.
A falling U.S. dollar. Crude oil is priced around the world in dollars, so if the currency loses value, sellers want compensation. Last year the dollar fell nearly 10% against the euro, 6% against the Japanese yen and 14% against the Canadian dollar.
Falling global inventories. Oil companies are taking advantage of high prices to sell crude as fast as they can because they expect prices to fall later on.
Lower interest rates. Traders see the Federal Reserve's willingness to cut rates, perhaps substantially, to stave off a housing-related recession as a guarantee that domestic demand will remain strong. A slowdown or even a recession would dampen U.S. demand and knock prices lower.
Betting on ever-higher crude prices. People who have experience with oil suggest that prices are out of touch with reality. "Prices have outrun the fundamentals," says Daniel Yergin, chairman of Cambridge Energy Research Associates, a global energy consulting firm.
The run-up is likely to ripple through the U.S. and other economies. Asia's rapidly developing nations have flush cash reserves to continue subsidizing fuel for their populations. But China's 10% rise in government-controlled fuel prices shows higher oil costs are putting a greater strain on Asian nations. China reportedly already has been experiencing spot shortages of motor fuels.
India, which imports 70% of its oil, subsidizes some of its fuels, especially those used for cooking, and may face shortages unless it can pass some of the costs on to consumers.
If all this sounds like the early 1980s, it is. Except for one important difference: There seems to be little or no slack in the oil and gas industry around the world. There are fears, as MSN Money's Jim Jubak has noted, that Saudi Arabia's oil fields aren't as productive as before. Iraq, which has the world's third-biggest oil reserves, is mired in violence.
GM all.
Great article, SL
I agree, the subprime related troubles aren't over yet and who knows what other skeletons fall out of the closet.
Happy New Year everyone!
I am sorry for my ignorance (we speak the same language and yet we sometimes do not LOL). Glad it is just an expression
I am going to ignite some early fireworks on VION by opening. It is just too cheap to ignore it imo.
I am sorry to hear that. I wish you a speedy recovery and a good health in 2008.
Cheers
You have nice friends who show that they care for you.
Have fun!
LOL do you think someone will volunteer?
Small and relatively quiet can be a lot of fun also. Enjoy it to the fullest!
It's for tonight but I like doing it... they say I am a kitchenprincess
Keep fingers crossed I keep my reputation standing and don't burn any of it lol
Do you have plans for tonight?
Nothing too crazy like previous years (ahum), just dinner with my family and watching the fireworks.
And yourself?
Tradingwise, we are slightly red with low volume and some stocks barely move.
But domestic wise, I am already frantically busy in the kitchen lol
GM to you too SL and happy New year!
GM stuffit,
Are you ready for the New Year?
Let's see what 2008 brings us, 2007 will most likely go down in history as the year of the shorters.
SYNM - time to grab the nail polish, stuffit
LOL soon. I am giving her a couple of days.
It's a good thing I don't bite my nails or I would not have any left.
My feet are wet but I am still holding this little bugger.
Just a little tired from eating too much. How about yourself?
Happy Boxing day everyone!
GM SL and all
In two hours I am going to the evening Christmas mass so I won't be able to hang around long.
Merry Christmas and be safe!
Merry Christmas to you and yours. May 2008 bring you joy and happiness!
Cheers
Thank you.
It seems that now might be a good time to buy.
Cheers
ps: If've always wanted to ask... does Stock Lobster come from Rock Lobster?
Sounds interesting, I will do some reading on them.
Sorry I can not PM you for more information (I am not a subscriber) therefore I'll rely on your research and your intuition
Have a great weekend!
Cheers
GM stuffit, should be a fun last day before Christmas.
I want a decent rally!
LOL your Pooh=your husband I presume? Cute petname
LOOOOOOL you said that!
Me toooo, keeping fingers and toes crossed.
Besides what's more fun than being in one stock all together.. we can bitch and cry all together when we loose, or cheer and wave pompons when we make money. Of course I prefer the latter