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Vonage Holdings Corp. Q4 2009 Earnings Call Transcript
February 27, 2010
http://seekingalpha.com/article/190962-vonage-holdings-corp-q4-2009-earnings-call-transcript?source=feed
Unilife NASDAQ Closing Ceremony
CEO Alan Shortall presided over the NASDAQ closing bell ceremony on Monday, February 22, 2010 to commemorate Unilife's NASDAQ listing. Unilife's Board of Directors as well as members of the management team and guests joined Mr. Shortall at the ceremony, which took place at the NASDAQ MarketSite in Times Square, New York City.
The event was broadcast live and was covered by multiple media outlets including CNBC, CNN Money, Business News Network (Canada) and Bloomberg.
Video Of The Ceremony
http://mktvideo.nasdaq.com/MarketSiteOpenCloseVideos/201002/mc_022210.wmv
Unilife began trading on NASDAQ on 16 February 2010. Mr. Shortall commented "This is a major step for Unilife Corporation, signifying the completion of its transition from the Australian Stock Exchange into a publicly listed U.S. company.
"I believe moving the Company to the U.S. and listing our common stock on a major international exchange complements our rapid emergence as a global leader for innovative safety medical devices."
Unilife Corporation
UNITED STATES
633 Lowther Road
Lewisberry, PA 17339
United States of America
AUSTRALIA
Suite 3, Level 11,
1 Chifley Square,
Sydney 2000 NSW Australia
http://www.unilife.com/index.php?option=com_content&task=view&id=601&Itemid=76
Trading on Unilife FAQ
http://ir.unilife.com/faq.cfm
Unilife Corporation (the Company or Unilife Corporation) a Delaware incorporated company, is the parent entity of the Unilife Group. On 18 January 2010, trading in CHESS depositary interests (CDIs) of Unilife Corporation commenced on the ASX under the stock ticker 'UNS'. Trading of shares on the ASX in the former parent entity, Unilife Medical Solutions Limited under stock ticker 'UNI', ceased on 15 January 2010. Unilife Corporation had its Form 10 registration statement declared effective by the US Securities and Exchange Commission on 11 February 2010. Trading on NASDAQ commenced on 16 February 2010 under the ticker 'UNIS'.
To assist all shareholders of Unilife Corporation, a list of Frequently Asked Questions in relation to these changes and the dual listing of Unilife Corporation on ASX and NASDAQ are set out below. To access the forms needed to convert CDIs to common stock and to convert common stock to CDIs, see question 12.
Important Notice: The information in this document does not take into account your individual investment objectives, financial situation and needs. The information in this document is of a general nature and is not financial product advice and should not be relied upon as the sole basis for any investment decision. Shareholders should consult their financial, legal or tax adviser before deciding to buy or sell shares in Unilife Corporation. Your adviser may ask you for the Unilife CUSIP number. For your reference, Unilife's CUSIP number is 90478E103.
show all hide all
1. I received CDIs in Unilife Corporation (UNS) in exchange for my Unilife Medical Solutions Limited (UNI) shares and need more information.
1. You should have received a holding statement from Computershare advising you of your holding balance of CDIs. Holding statements were despatched on 1 February 2010. If you have not received a holding statement, please contact Computershare on the numbers listed below.
2. You can trade your CDIs on the ASX using your preferred full service or online broker. Standard ASX trading terms apply to trading in CDIs.
3. You can convert your CDIs into Unilife Corporation common stock at any time. If you choose to do so, you will receive one share of common stock for every six CDIs you wish to convert. Please refer to Question 12 below for the relevant forms that are required to be completed for this conversion to be arranged. 4. If you choose to convert CDIs to Unilife Corporation common stock you will need to talk to your preferred stock broker about how you can undertake on-market trading (i.e. buying or selling). Note that as you are trading an international stock, trading procedures, processes and costs are different to trading on the ASX. In addition there may be taxation obligations, depending on your personal circumstances, as determined by the US Internal Revenue Service.
2. I received Common Stock in Unilife Corporation (UNIS) in exchange for my Unilife Medical Solutions Limited (UNI) shares and need more information.
1. Holding statements are likely to be despatched on/around 19 February 2010. You will only receive an actual share certificate in respect of your shares of common stock if you requested this in writing.
2. Unilife Corporation common stock listed on NASDAQ on 16 February 2010.
3. If you already have a US stock broker, you can ask them to transfer your common stock to their DTC account, by providing them with your holding statement.
4. If you want to buy or sell Unilife shares, talk to your preferred stock broker about how you can undertake on-market trading (ie buying or selling) on NASDAQ. Note that trading procedures, processes and costs on NASDAQ are different to trading on the ASX. In addition there may be taxation obligations, depending on your personal circumstances, as determined by the US Internal Revenue Service.
5. You can convert your Unilife Corporation common stock into ASX-listed CDIs at any time. If you choose to do so, you will receive six CDIs for each share of common stock you wish to convert. Please refer to Question 12 below for the relevant forms that are required to be completed for this conversion to be arranged.
3. Why is the volume / liquidity not higher for Unilife's shares traded on the NASDAQ since it started trading on Feb. 16th?
Unilife's transfer agent, Computershare, is in the process of issuing holding statements for holders of Unilife shares. Part of this process involves making Unilife's shares eligible for DTC. Unfortunately, this process experienced a few days' delay due to the storms in the Northeast United States last week. Once DTC eligibility has been confirmed, the process of issuing holding statements can be completed, which should help increase the availability of shares.
4. What is the new parent entity of the Unilife Group?
Unilife Corporation, a US entity, became the parent entity of the Unilife Group on 27 January 2010. Unilife Corporation was incorporated in mid 2009 as part of the Unilife Group's move to redomicile in the United States.
Unilife Medical Solutions Limited (the former parent entity of the Unilife Group) is now a wholly owned subsidiary of Unilife Corporation.
Unilife Corporation is listed on ASX and listed on NASDAQ (on 16 February 2010.)
5. What is a CHESS depositary interest or CDI?
The electronic transfer system used on ASX, known as 'CHESS', cannot be used directly for the transfer of securities of foreign companies. Accordingly, to enable companies such as Unilife Corporation to have their securities cleared and settled electronically through CHESS, depositary instruments called CHESS Depositary Interests (CDIs) are issued.
The CDIs confer a beneficial interest in Unilife Corporation's common stock which can be traded on ASX. CDI holders receive all of the economic benefits of actual ownership of the underlying Unilife Corporation common stock (for example the right to receive shareholder notices, vote at meetings and receive dividends). The legal ownership of all CDIs is held by CHESS Depositary Nominees Pty Limited, which is a subsidiary of the ASX.
6. What is a share of common stock?
Shares of common stock are the US equivalent of ordinary shares in Australia. Unilife Corporation has been incorporated in the United States and hence has common stock on issue.
7. What is NASDAQ?
The NASDAQ Stock Market, known as 'NASDAQ', is an American stock exchange and is the largest electronic screen-based equity securities trading market in the US. Of the approximately 3,200 listings on NASDAQ, 335 are non-U.S. companies from 35 countries representing all industry sectors. Unilife is to be listed on the NASDAQ Global Market. Unilife believes that a NASDAQ listing is likely to provide increased liquidity for Unilife Corporation's securities and have the potential to attract new US investors to the Unilife Group.
8. What is a dual listing?
'Dual listing' means that the Company's shares are traded on two stock exchanges – the ASX in the form of CDIs and NASDAQ in the form of common stock. The ticker codes are as follows:
ASX: UNS NASDAQ: UNIS
9. What is the ratio of shares of common stock to CDIs?
Each CDI therefore represents an interest in 1/6th of an underlying share of Unilife Corporation common stock.
10. What happened to my shares in Unilife Medical Solutions Limited?
Under the share scheme of arrangement (as approved by shareholders and the Federal Court of Australia), your shares in Unilife Medical Solutions Limited were transferred to Unilife Corporation in exchange for shares of common stock in Unilife Corporation, on a 6 old for 1 new basis.
If you made an election under the share scheme, you will have received common stock or CDIs as per your election form. If you did not make such an election, you will have received CDIs in Unilife Corporation.
All shares in Unilife Medical Solutions Limited are now owned by Unilife Corporation and hence Unilife Medical Solutions Limited (formally ASX: UNI) has been delisted from the ASX.
If you acquired shares in Unilife Medical Solutions Limited through the pink sheets on the OTC market, then those will have been swapped for common stock or CDIs in Unilife Corporation under the share scheme.
11. How can I hold my common stock?
In the United States, common stock can either be held:
Direct Registration System or DRS
DRS is equivalent to issuer sponsored shares in Australia. Computershare, as the transfer agent (registry), will issue holders of common stock held in the DRS system with a holding statement and identification reference. There are no physical share certificates issued and the holding statement evidences ownership.
- Unilife has established DRS as the default position unless a shareholder requests a physical share certificate
- DRS is advantageous for shareholders as it permits electronic transfers between Computershare and the broker, it also avoids the costs of security of holding a physical share certificate and provides a full audit trail of all transactions
DTC system (with a broker or custodian)
Similar to CHESS in Australia, your broker or custodian can be named as the holder of those shares of common stock on your behalf as the 'DTC Participant'. To sell some or all of those shares or, if you wish to convert some or all of those shares of common stock into CDIs on the ASX, you may contact your broker.
12. Can I convert between CDIs and common stock? What forms do I need and is there a fee?
Yes, you can do this at any time for some or all of your CDIs. Fees may be payable by shareholders in respect of conversion.
CONVERTING CDIs INTO US COMMON STOCK
Step 1: Fill in 'Form 1' – Register Removal Request (Australia Register to United States Register)
Section A – insert Unilife Corporation and CDIs. Insert the number of CDIs to be converted into common stock – this number must be divisible by six.
Section B – make sure you insert the same name as appears on your holding statement. If you are 'Issuer Sponsored' your SRN is on your last Holding Statement received from Computershare.
If you hold your CDIs in CHESS, you will need to insert your HIN and your broker's name and PID
Section C – if you wish to hold your shares through a broker, you will need to make arrangements with your broker or establish an arrangement with a broker or other institution which is a DTC Participant. If you wish to hold your shares DRS or in the form of a physical (paper) share certificate, you should so advise Computershare
Step 2: Send the completed Form to Computershare, either:
By facsimile to (03) 9473 2442 (within Australia)
or +61 3 9473 2442 (outside Australia)
By mail to Computershare Clearing Pty Ltd
PO Box 103 Abbotsford, Victoria 3067 Australia
Step 3: Computershare aims to process all requests received before 5pm AEST on the same day. On that basis, the shares of common stock will be issued to you on that day. If you elect to receive a physical share certificate you will need to allow delivery time.
Telephone Enquiries (by you or your broker)
1300 731 056 (within Australia)
+61 3 9415 5361 (outside Australia)
CONVERTING COMMON STOCKS INTO CDIs
Step 1: Fill in Form 2– Register Removal Request (United States Register to Australian Register)
Section A –insert Unilife Corporation (Full name of Company), Common stock (Description of Securities) and ISIN AU000000UNS6 (ISIN) and the number of shares of common stock to be converted
Section B – if the shares are held at DTC then you will need to contact your broker or custodian. If you hold common stock through DRS you do not need to complete this section.
Section C – If you wish to hold your CDIs in CHESS, you will need to insert your HIN and your broker's name and PID. Make sure the name is the same as the holder of the common stock.
If you wish to hold the CDIs as 'Issuer Sponsored' then you can also provide your SRN from your last Holding Statement received from Computershare.
Step 2: Send the completed Form to Computershare, either
By mail to Computershare, Attn: Global Transaction Unit, 250 Royall St Canton MA 02021 with the original physical share certificate if you have one
By email or facsimile to GTU@computershare.com or facsimile to +1 617-360-6841
Step 3: Computershare aims to process all requests received on the same day. On that basis, the CDIs will be issued to your account on that day.
Telephone Enquiries (by you or your broker)
+1 781 575 2000
13. What is Unilife's CUSIP number?
Unilife's CUSIP number is 90478E103.
14. What will I need to hold shares of common stock?
Shares of common stock can be held through DRS or be represented by a physical share certificate for which there are no other requirements (see question 10) – refer above to the forms required to effect this.
If you wish to hold your shares of common stock in the DTC System, you will need to open an account with a US broker or custodian.
15. How can I trade my shares of common stock on NASDAQ?
Shares of common stock can be held through DRS or be represented by a physical share certificate for which there are no other requirements (see question 11) – refer above to the forms required to effect this.
If you wish to hold your shares of common stock in the DTC System, you will need to open an account with a US broker or custodian.
16. How do I find a broker for NASDAQ?
While the Company cannot recommend a broker, a full list of all brokers who can trade on NASDAQ can be obtained at www.nasdaq.com.
If shareholders have difficulty appointing a broker for US trades, the Company may be able to introduce you to one of the brokers currently covering the Company (on a no recommendations basis). Some of these brokers are Australian and some are US based. Please send an email to investors @ unilife.com should you seek further information.
17. Which Australian brokers can trade shares on NASDAQ?
Many of the Australian retail and institutional broking houses and several on-line brokers provide this service for their clients.
Several of the US investment banks also have trading operations in Australia and can provide this service after an account has been opened with them.
If shareholders have difficulty appointing a broker for US trades, the Company may be able to introduce you to one of the brokers currently covering the Company (on a no recommendations basis). Some of these brokers are Australian and some are US based. Please send an email to investors @ unilife.com should you seek further information.
18. Can I trade shares on either market?
Yes, if you hold CDIs on the ASX you can continue to buy or sell as normal.
Conversely if you hold common stock, once listed on NASDAQ, you will be able to buy or sell on NASDAQ. To trade across both markets by converting between common stock and CDIs, see Question 12 above.
19. Where can I access the current stock price for ASX and NASDAQ?
Unilife Corporation's NASDAQ share price will be available at www.nasdaq.com
Unilife Corporation's ASX price for CDIs is available at www.asx.com.au
20. How can existing shareholders sell on NASDAQ?
After Unilife Corporation is listed on the NASDAQ, existing shareholders will be able to sell on NASDAQ at any time if they hold common stock or, if they hold CDIs, they may sell on NASDAQ by firstly converting CDIs into shares of common stock and then instructing a broker to sell those shares on NASDAQ.
If you do not have an account with a US broker or your Australian broker cannot offer this service, then you will need to open a brokerage account first before you can sell on NASDAQ.
21. How do new investors buy Unilife Corporation securities?
New investors can either:
~ Buy common stock on NASDAQ through a broker. Interested investors can acquire shares of Unilife's common stock on NASDAQ through an authorized securities broker, including an online broker. While the Company cannot recommend a broker, a full list of all brokers who can trade on NASDAQ can be obtained at www.nasdaq.com
or
~ Buy CDIs on the ASX through an Australian broker.
Investors may then convert between CDIs and common stock as described in Question 12 above.
22. When are the ASX and NASDAQ markets open?
The ASX is open for trading from 10.00am to 4.00pm AEST on Monday to Friday, excluding public holidays. NASDAQ is open for trading from 9.30am to 4.00pm US Eastern time on Monday to Friday, excluding public holidays Click here for more information.
23. Will the price for shares in Unilife Corporation be the same on ASX and NASDAQ?
No. However, in theory if the two markets worked perfectly, the price of Unilife Corporation common stock on NASDAQ (in United States dollars) should be six times the price of CDIs on ASX (in Australian dollars).
In practice though, there may be an arbitrage between the two markets. The price of common stock on NASDAQ will be determined by the supply and demand factors in that market. Similarly the price of CDIs on the ASX will be determined by supply and demand factors in that market. There may also be an excess of supply or demand in one or the other markets. The equivalent prices on two markets may also be impacted by the US$ : A$ exchange rate.
Example: -
CDIs are trading at A$1.20 on the ASX.
Six CDIs (equivalent to 1 share of common stock) would therefore equal A$7.20.
If the exchange rate is A$1.00 equals US$0.90, then six CDIs (equivalent to 1 share of common stock) would equate to US$6.48.
Hence, in a perfect market, each share of common stock should be trading on NASDAQ at US$6.48.
24. How do I receive Unilife Corporation's announcements on ASX and NASDAQ?
All announcements are made in Australia and the US at around the same time, subject to differences such as time zone variations. Announcements in Australia will be posted on the ASX. In the US, the process is different as news postings are not made to the stock exchange. Company announcements are made by way of press release. Significant announcements may be filed with the SEC as part of a Report on a Form 8-K.
Announcements and releases can be accessed on the Company's website of www.unilife.com or by subscribing to receive them by email when they are posted.
Announcements can also be accessed at www.asx.com.auand www.nasdaq.com
CDI holders will receive all documents mailed to shareholders such as the Annual Report.
25. Who maintains the Company's share registry and how do I contact them?
Computershare is managing the Register of holders of common stock and CDIs. Contact numbers are set out below.
26. How do I check my holding in Unilife Corporation?
Firstly refer to your last Holding Statement or contact your broker if your CDIs are held in CHESS or your common stock is held in DTC.
You can also contact Computershare on the numbers below.
27. How do I change or update any details of my holding such as a change of address?
Complete and lodge the form accessed from Computershare's website.
28. Where will Unilife Corporation's stockholder meetings be held in the future?
Unilife Corporation intends to hold its stockholder meetings in the United States with all stockholders able to attend. These meetings will also be webcast.
29. How do I vote at those stockholder meetings?
Instructions for voting common stock or CDIs will be contained in the proxy statement provided to stockholders for the meeting.
30. Do I have to pay tax when my shares are converted from CDIs into common stock and vice versa?
In general terms, the Company does not expect that stockholders will trigger a taxable event when converting between CDIs and common stock, and vice versa, provided the legal and beneficial ownership stays the same.
Please consult your personal tax adviser in relation to your own situation.
31. Please provide contact information for inquiries.
Company - Unilife Corporation
United States – Head office
Tel: +1 717 938 9323
Fax: + 1 717 938 9364
Email: investors @ unilife.com
Australia – Representative Office
Tel: + 61 2 8346 6500
Fax: + 61 2 8346 6511
Registry - Computershare
United States
Tel. (callers within the U.S.) 800-962-4284
Tel. (callers outside the U.S.) 781-575-3120
Fax 312-601-2313
Australia
Tel: (within Australia) 1300 729 064
Tel: (outside Australia) +61 3 9415 4677
Fax: + 61 8 9323 2033
Transfers between CDIs and common stock, and vice versa
Tel: 1300 731 056 (within Australia)
Tel: +61 3 9415 5361 (outside Australia
Converting shares between common stock and CDIs
http://www.unilife.com/index.php?option=com_content&task=view&id=489&Itemid=80
Converting Shares Between Common Stock and CDIs
Unilife Corporation (the Company or Unilife Corporation) a Delaware incorporated company, is now the parent entity of the Unilife Group.
On 18 January 2010, trading in CHESS depositary interests (CDIs) of Unilife Corporation commenced on the ASX under the stock ticker ‘UNS’. Trading of shares on the ASX in the former parent entity, Unilife Medical Solutions Limited, under stock ticker ‘UNI’ ceased on 15 January 2010.
Unilife Corporation had its Form 10 registration statement declared effective by the US Securities and Exchange Commission on 11 February, 2010. Trading on NASDAQ commenced on 16 February 2010 under the ticker "UNIS". Shareholders may use the Forms 1 and 2 to convert shares between common stock and CDIs.
Shareholders should consult their financial, legal or tax adviser before deciding to buy or sell shares. Your adviser may ask you for the Unilife CUSIP number. For your reference, Unilife's CUSIP number is 90478E103.
Form 1 Register Removal Request (Australian Register to United States Register)
Form 2 Register Removal Request (United States Register to Australian Register)
Form 1 http://www.unilife.com//index.php?option=com_docman&task=doc_download&gid=113
Form 2 http://www.unilife.com//index.php?option=com_docman&task=doc_download&gid=114
** WAMUQ Video Chart 2/26/10 **
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Date: Friday, February 26, 2010 4:44:58 PM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47148184
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Link to video -
SEC Approves Short Selling Restrictions
FOR IMMEDIATE RELEASE
2010-26
http://www.sec.gov/news/press/2010/2010-26.htm
Washington, D.C., Feb. 24, 2010 — The Securities and Exchange Commission today adopted a new rule to place certain restrictions on short selling when a stock is experiencing significant downward price pressure. The measure is intended to promote market stability and preserve investor confidence.
This alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day. It will enable long sellers to stand in the front of the line and sell their shares before any short sellers once the circuit breaker is triggered.
"The rule is designed to preserve investor confidence and promote market efficiency, recognizing short selling can potentially have both a beneficial and a harmful impact on the market," said SEC Chairman Mary L. Schapiro. "It is important for the Commission and the markets to have in place a measure that creates certainty about how trading restrictions will operate during periods of stress and volatility."
Short selling involves the selling of a security that an investor does not own or has borrowed. When shorting a stock, the investor expects that he or she can buy back the stock at a later date for a lower price than it was sold for. Rather than buying low and selling high, the investor is hoping to sell high and then buy low. Short selling can serve useful market purposes, including providing market liquidity and pricing efficiency. However, it also may be used improperly to drive down the price of a security or to accelerate a declining market in a security.
The alternative uptick rule (Rule 201) approved today imposes restrictions on short selling only when a stock has triggered a circuit breaker by experiencing a price decline of at least 10 percent in one day. At that point, short selling would be permitted if the price of the security is above the current national best bid.
Rule 201 includes the following features:
*
Short Sale-Related Circuit Breaker: The circuit breaker would be triggered for a security any day in which the price declines by 10 percent or more from the prior day's closing price.
*
Duration of Price Test Restriction: Once the circuit breaker has been triggered, the alternative uptick rule would apply to short sale orders in that security for the remainder of the day as well as the following day.
*
Securities Covered by Price Test Restriction: The rule generally applies to all equity securities that are listed on a national securities exchange, whether traded on an exchange or in the over-the-counter market.
*
Implementation: The rule requires trading centers to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution or display of a prohibited short sale.
* * *
The rule will become effective 60 days after the date of publication of the release in the Federal Register, and then market participants will have six months to comply with the requirements.
--------------------------------------------------
Speech by SEC Chairman:
Statement at SEC Open Meeting — Short Sale Restrictions
by
Chairman Mary L. Schapiro
U.S. Securities and Exchange Commission
Washington, D.C.
Feb. 24, 2010
http://www.sec.gov/news/speech/2010/spch022410mls-shortsales.htm
Good Morning. This is an open meeting of the U.S. Securities and Exchange Commission on February 24, 2010.
Today the Commission is considering a rule that would restrict short selling when a stock is experiencing significant downward price pressure.
It is a rule that is designed to preserve investor confidence and promote market efficiency.
Today's rule grows out of the lessons learned two years ago when the market began to drop precipitously. At that time, the Commission took a series of emergency and temporary actions over a three month span in part to respond to the market volatility and rapid and steep price declines in securities.
While we must always be prepared to take additional action in the future, I believe it is important for the Commission and the markets to have in place a measure that creates certainty about how trading restrictions will operate during periods of stress and volatility.
Under today's proposed rule, a circuit breaker would be triggered any time a stock has dropped 10 percent in one day. At that point, short selling would only be permitted in a security if the price is above the current national best bid.
The reason this rule makes sense is because it recognizes that short selling can potentially have both a beneficial and a harmful impact on the market — depending on the circumstances.
When investors engage in short selling, they are in effect borrowing a stock to sell it to another investor. At a later time, they must buy back the stock to replace the one they sold. Instead of the usual order for a transaction, where an investor wants to buy low and sell high, a short seller wants to sell high and later buy back low.
In arriving at the rule we are considering, the Commission was cognizant of the benefits that short selling can provide to the markets. As we have noted many times, short selling can play an important and constructive role in the markets, such as by providing market liquidity and pricing efficiency.
However, we also are concerned that excessive downward price pressure on individual securities, accompanied by the fear of unconstrained short selling, can destabilize our markets and undermine investor confidence in our markets.
Today's rule, which we refer to as the alternative uptick rule, addresses these concerns.
First, it will prevent short selling, including potentially manipulative or abusive short selling, from further driving down the price of a security that has experienced a 10 percent price decline. Limiting the potential for abuse is an important goal of these rules.
And, second, it will enable long sellers to stand in the front of the line, and sell their shares before any short sellers once the circuit breaker is triggered.
* * *
During the Commission's history, the practice of short selling has garnered a great deal of interest. In 1938, the Commission enacted former Rule 10a-1, commonly known as the "uptick rule." That rule prohibited investors from short selling an exchange-listed security unless the sale price of the security had previously ticked upward. The former uptick rule remained virtually unchanged until the Commission authorized a study in 2004. That study assessed the functionality and necessity of the price tests restrictions in place at that time. Following the year-long pilot study, the Commission ultimately eliminated all short sale price test restrictions in 2007.
Since that time, the global economic environment has changed dramatically and the markets have experienced extreme volatility. Beginning in 2007, market volatility increased not only in the U.S. but in every major stock market around the world.
With worsening market conditions came an erosion in investor confidence, which in turn triggered calls for renewed short selling restrictions, including from investors and issuers. In 2008, the Commission then passed four temporary emergency orders, including orders that imposed pre-borrow requirements on short-sales for 19 different stocks, a ban on short sales for almost 1,000 financial stocks, certain short sale disclosure requirements, and certain measures related to "naked" short selling.
In addition, the Commission subsequently adopted certain of these measures as final rules, in part, to further the Commission's goals of addressing potentially abusive "naked" short selling. For example, we adopted a "naked" short selling anti-fraud rule. We also adopted a rule that requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale.
Even with all of these final actions, concerns regarding short selling persist. With these concerns in mind, the Commission is today considering whether to impose certain short selling restrictions.
Specifically, the alternative uptick rule the Commission is considering would work as follows:
* A circuit breaker would be triggered for a security any day in which the price declines by 10 percent or more from the prior day’s closing price.
* Once the circuit breaker has been triggered, the alternative uptick rule would apply to short sale orders in that security for the remainder of the day as well as the following day.
* The alternative uptick rule generally would apply to equity securities that are listed on a national securities exchange, whether traded on an exchange or in the over-the-counter market.
* Under the rule, trading centers would be required to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution or display of a prohibited short sale.
The rule the Commission is considering today is the result of a thorough and deliberative process. We proposed a set of price test restrictions last April for public comment. We held a Roundtable in May. And, we put out a subsequent request for additional comment last August. All of this resulted in more than 4,300 comments discussing both the merits and shortcomings of each of the proposals.
I believe the alternative uptick rule strikes the right balance.
I would like to thank the staff of the Division of Trading and Markets for their commendable work on this matter, specifically Director Robert Cook, Deputy Director Jamie Brigagliano, Josephine Tao, Victoria Crane, Katrina Wilson, and Angela Moudy. I would also like to thank their colleagues in the Office of the General Counsel, specifically David Becker, Meridith Mitchell, Janice Mitnick, and Cynthia Ginsberg, as well as the Division of Risk, Strategy, and Financial Innovation, specifically Henry Hu, Bruce Kraus, Amy Edwards, Tim McCormick, and Cecilia Caglio.
Now I'll turn the meeting over to Robert Cook, Director of the Division of Trading and Markets, to hear more about the Division's recommendation.
Short Interest ...Increased
http://www.shortsqueeze.com/?symbol=zoom&submit=Short+Quote%99
Short Interest (Shares Short)
322,400
Days To Cover (Short Interest Ratio)
7.6
Short Percent of Float
15.64 %
Short Interest - Prior
297,900
Short % Increase / Decrease
8.22 %
Shares Float
2,060,819
Total Shares Outstanding
7,456,626
Record Date
2010-FebB
Keryx Biopharma initiated with "buy"
Feb 25 / 10:52a.m. - Roth Capital
http://www.newratings.com/en/main/company_headline.m?id=2028531
NEW YORK, February 25 (newratings.com) -
Analysts at Roth Capital initiate coverage of Keryx Biopharma (KERX) with a "buy" rating.
The target price is set to $7.
Keryx Biopharma initiated with "buy"
Feb 25 / 10:52a.m. - Roth Capital
http://www.newratings.com/en/main/company_headline.m?id=2028531
NEW YORK, February 25 (newratings.com) - Analysts at Roth Capital initiate coverage of Keryx Biopharma (KERX) with a "buy" rating. The target price is set to $7.
Sunrise Senior Living returns to 4Q profit
Sunrise Senior Living moves to 4th-quarter profit on sharp drop in operating expenses
Thursday February 25, 2010, 11:46 am
http://finance.yahoo.com/news/Sunrise-Senior-Living-returns-apf-1924297138.html?x=0
MCLEAN, Va. (AP) -- Sunrise Senior Living Inc. returned to a fourth-quarter profit Thursday on a significant drop in operating expenses and a sales gain.
The operator of residential living facilities earned $10.4 million, or 19 cents per share, for the three months ended Dec. 31. That compares with a loss of $305.6 million, or $6.07 per share, a year earlier.
The current quarter included a $48.9 million gain related to the sale of 21 communities.
Total operating expenses fell 35 percent to $392 million from $604.4 million as many costs declined, including restructuring costs and general and administrative expenses. The prior-year period included a $121.8 million impairment charge related to the goodwill for its North American segment.
Fourth-quarter operating revenue dropped 9 percent to $364.3 million from $398.4 million.
Average daily revenue per occupied unit in similar communities rose 2.5 percent to $190.6 million. Taking out favorable foreign currency exchange rates, that figure climbed 1.8 percent to $189.22.
For the year, Sunrise reported a loss of $133.9 million, or $2.61 per share, which was smaller than its loss of $439.2 million, or $8.72 per share, in the prior year.
Annual operating revenue fell 7 percent to $1.46 billion from $1.57 billion.
Sunrise runs 374 communities in the U.S., Canada, Germany and the U.K.
Sunrise Senior Living, Inc. Q4 2009 Earnings Call Transcript
February 25, 2010
http://seekingalpha.com/article/190653-sunrise-senior-living-inc-q4-2009-earnings-call-transcript?source=feed
Sunrise Reports Financial Results for Fourth Quarter and Full Year of 2009
Date : 02/25/2010 @ 7:00AM
Source : PR Newswire
Stock : Sunrise Senior Living (SRZ)
http://ih.advfn.com/p.php?pid=nmona&cb=1267116031&article=41721152&symbol=NY^SRZ
MCLEAN, Va., Feb. 25 /PRNewswire-FirstCall/ --
Sunrise Senior Living, Inc. (NYSE:SRZ) today reported financial results and operating data for the fourth quarter and full year of 2009. Sunrise will host a conference call and webcast Thursday, February 25, 2010, at 9:00 a.m. ET, to discuss the financial results.
"We have made significant financial restructuring progress and, as promised, our attention is focused on our communities, team and residents," said Mark Ordan, Sunrise's chief executive officer. "While we are the highest-end major senior living company in a difficult economy, we are excited by our strong operating focus and believe this will lead to an improved bottom line."
Financial Results for Fourth Quarter and Full Year 2009
Sunrise reported revenues of $364.3 million and $1.5 billion for the fourth quarter and twelve months ended December 31, 2009, respectively, as compared to $398.4 million and $1.6 billion for the for the fourth quarter and twelve months ended December 31, 2008. Net income (loss) for the fourth quarter and twelve months ended December 31, 2009, was $10.4 million and ($133.9) million, or $0.19 and ($2.61) per fully diluted share, respectively, as compared to net loss of ($305.6) million and ($439.2) million, or ($6.07) and ($8.72) per fully diluted share, for the fourth quarter and twelve months ended December 31, 2008, respectively. The loss before income taxes and discontinued operations for the fourth quarter and twelve months ended December 31, 2009, was ($32.3) million and ($117.1) million, respectively, as compared to loss before income taxes and discontinued operations of ($235.3) million and ($373.7) million for the fourth quarter and twelve months ended December 31, 2008, respectively. During the fourth quarter of 2009, Sunrise recognized a gain of $48.9 million from the sale of 21 communities, which is included in discontinued operations. During the fourth quarter of 2008, Sunrise recorded an impairment charge of $121.8 million related to all of the goodwill for its North American business segment. Sunrise also determined that a valuation allowance on the net deferred tax assets was required.
For the twelve months ended 2009, net loss from operations was ($132.0) million, an improvement of $215.6 million as compared to a net loss from operations of ($347.6) million in the twelve months ended 2008. Adding back non-cash charges including depreciation and amortization of $46.6 million, write-off of capitalized project costs of $14.9 million, provision for doubtful accounts of $13.6 million, stock compensation of $3.0 million and impairment of long-lived assets of $31.7 million, as well as non-recurring items including the SEC investigation costs of $3.9 million and restructuring costs of $33.3 million, the adjusted income from ongoing operations was $15.0 million. Adjusted income (loss) 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 (Loss) from Ongoing Operations."
Revenues and loss before income taxes and discontinued operations previously reported for 2008 have been reclassified to conform to the current year presentation. The amounts were reclassified to include the results of our German communities, our former Greystone subsidiary, 22 communities, which were sold in 2009, and one community, which was closed in 2009, in discontinued operations.
Cash and Liquidity Update
Sunrise had $39.3 million of unrestricted cash at December 31, 2009. 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 December 31, 2009, Sunrise had debt of $440.2 million, of which $227.2 million of debt is scheduled to mature in 2010, including $33.7 million under its bank credit facility, which is due in December 2010. Debt that is in default totals $317.2 million, including $198.7 million of debt ($215.2 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. Sunrise is seeking waivers with respect to existing defaults to avoid acceleration of these obligations.
On February 12, 2010, Sunrise extended $56.9 million of debt that was either past due or in default at December 31, 2009. The debt is associated with an operating community and two land parcels. In connection with the extension, Sunrise (i) made a $5.0 million principal payment at closing, (ii) extended the terms of the debt to no earlier than December 2, 2010, (iii) provided for an additional $5.0 principal payment on or before July 31, 2010, and, among other items, (iv) defaults under the loan agreements were waived by the lenders.
Significant 2009 and 2010 Developments
During 2009, Sunrise executed on a plan to reduce overhead costs, restructure and extend maturities of some of its debt, and sell assets to generate liquidity. Steps taken to date as part of this plan include:
-- Selling 21 wholly owned senior living communities for an aggregate purchase price of $204 million, generating at closing approximately $60 million in net proceeds for Sunrise; -- Entering into an agreement with its Fountains portfolio venture partner and the lender to release Sunrise from all claims that the venture partner and lender had against Sunrise and, in exchange, Sunrise has transferred its 20-percent ownership interest in the venture, as well as contributed certain vacant land parcels, agreed to transfer from management of the 16 Fountains communities, and repaid the venture the $1.8 million management fee Sunrise earned in 2009. To date, Sunrise has transferred from management in eight of the 16 communities; -- Entering into a restructuring agreement with the lenders to seven of the nine communities in Germany, to settle and compromise their claims against Sunrise. In exchange, Sunrise has issued to the participating lenders 4.2 million shares of common stock, their pro rata share of up to 5 million shares of common stock, has agreed to grant them the mortgages on certain unencumbered North American properties as part of a liquidating trust, and has guaranteed to these participating lenders a minimum of $58.3 million in net proceeds. Sunrise has also agreed to market for sale the German assisted living communities. At December 31, 2009, Sunrise continues to be liable under operating deficit and repayment guarantees for two communities, and a principal repayment guarantee for the Hoesel land parcel, which is not part of the restructuring agreement. The Hoesel land parcel was sold and the liability was released in early 2010; -- Selling its Greystone subsidiary and its interests in Greystone seed capital partnerships for $2.0 million in cash at closing; $5.7 million in short-term notes, which have subsequently been repaid; a $6.0 million, 7-year note; a $2.5 million note payable; and 35-percent of the future net proceeds received by the seed capital investors for each of the seed capital interests purchased from Sunrise. In 2009, Sunrise received $1.0 million in net proceeds for one of its seed capital interests.
-- Selling its equity interest in its Aston Gardens venture (generating net proceeds for Sunrise of approximately $4.8 million), and in exchange releasing Sunrise from all guarantee obligations and terminating Sunrise's six management contracts in the venture as of April 30, 2009; -- Reducing corporate expenses through reorganization of its corporate cost structure to an annual recurring run rate of approximately $100 million.
Additional details on these steps have been included in Sunrise's 2009 Form 10-K filed today.
Sunrise's focus in 2010 will be on: (1) operating high-quality assisted living and memory care communities in North America, Germany and the United Kingdom; (2) increasing occupancy and improving the operating efficiency of Sunrise's communities; (3) improving the operating efficiency of Sunrise's corporate operations; (4) generating liquidity; (5) divesting of non-core assets; and (6) reducing operational and financial risk.
Operating Data for Fourth-Quarter 2009
The nine German communities have been excluded from Sunrise's 2009 fourth quarter operating results set forth below because they are considered discontinued operations.
-- Comparable community revenues for the fourth quarter of 2009 decreased by 1.6 percent, from $525.5 million for the fourth quarter of 2008 to $517.0 million for the fourth quarter of 2009. Excluding the impact of foreign exchange rates in 2009, comparable community revenues for the fourth quarter of 2009 decreased 2.3 percent to $513.3 million year over year. Sunrise's comparable community portfolio consists of communities that were open and operating as of January 1, 2007, and include consolidated, unconsolidated venture, and managed communities in the United States, Canada and the United Kingdom.
-- Average unit occupancy in comparable communities for the fourth quarter of 2009 was 86.5 percent, which was down 350 basis points from 90.0 percent for the fourth quarter of 2008, and down 10 basis points as compared to 86.6 percent in the third quarter of 2009.
-- Average daily revenue per occupied unit in comparable communities increased 2.5 percent from $185.85 for the fourth quarter of 2008 to $190.56 for the fourth quarter of 2009. Excluding the impact of foreign exchange rates in 2009, average daily revenue per occupied unit for the comparable community portfolio increased 1.8 percent to $189.22 for the fourth quarter of 2009 as compared to the fourth quarter of 2008.
-- Comparable community operating expenses for the fourth quarter of 2009 decreased 3.9 percent over the fourth quarter of 2008 from $398.5 million to $383.1 million. Excluding certain health and dental expenses experienced in the fourth quarter of 2008, as well as the impact of the foreign exchange rates in 2009, these operating expenses decreased 4.8 percent.
-- As the Company has announced, Sunrise will discontinue managing the Fountains portfolio in the coming months. To date, Sunrise has transferred from management in eight of the 16 communities. Excluding these 16 communities' operating performance, fourth-quarter 2009 comparable community revenues were $477.0 million, average unit occupancy was 87.2 percent, average daily revenue per occupied unit was $196.98, and community operating expenses were $351.0 million. A table providing additional detail on Sunrise's operating results excluding this portfolio has been attached.
-- In the fourth quarter of 2009, Sunrise opened five new communities, with a combined capacity of 403 units. As of December 31, 2009, Sunrise did not have any additional communities under construction.
-- As of December 31, 2009, Sunrise operated 384 communities located in the United States, Canada, the United Kingdom and Germany, with a unit capacity of approximately 40,400 units.
-- As of February 25, 2010, Sunrise operated 374 communities located in the United States, Canada, the United Kingdom and Germany, with a unit capacity of approximately 37,800 units.
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 operations data, please refer to the Supplemental Information attached.
Conference Call and Webcast
Sunrise will host a conference call and webcast at 9:00 a.m. ET on Thursday, February 25, 2010, to discuss the financial results for the fourth quarter and full year of 2009 and the other matters discussed in this press release. The call-in number for the conference call is 877-741-4244 or 719-325-4830 (from outside the U.S.). Callers should reference the "Sunrise Senior Living Q4 Earnings Call" or the participant passcode: 9598943. 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 March 11, 2010 at 12 p.m. ET, by dialing 888-203-1112 or 719-457-0820 (passcode: 9598943); 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/ .
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 Company does not execute definitive documentation with the German lenders or consummate the transactions contemplated by the binding term sheet; the risk that the other identified lenders holding other eligible claims do not elect to participate in the restructuring and Sunrise is unable to otherwise settle such claims with them; the risk that the Company is not able to sell the North American properties mortgaged pursuant to the binding term sheet; 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 electing lenders; 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 2009 and 2010 and/or raise funds from other sources; the Company's ability to achieve anticipated savings from the Company's cost reduction program; 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 and 2007; 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 2008 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.
...
Core Patent for NWCI's 3-D ECG platform technology
Written by M.E.Garza
Thursday, 25 February 2010 07:24
http://biomedreports.com/articles/most-popular/30153-news-on-core-patent-for-nwcis-3-d-ecg-platform-technology-.html
This is an important part of the developing story for NWCI, which we have been following since mid January. In addition, for those of you who missed the company's most recent 10K filing, there appears to be clear validation of the rumors we reported. regarding a buy-out or partnership which may not be too far in the horizon.
In that filing, there is a paragraph makes mention of exploring strategic partnerships that would require "equity investments" on behalf of the partner.
This morning, the cardiac diagnostic and services company developing and marketing proprietary software platform technologies to provide higher accuracy to, and increase the value of, the standard 12-lead electrocardiogram (ECG), announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a patent covering technology relating to NewCardio's Cardio3KG solution (formerly VisualECG or Visual3Dx). This represents the core patent for NewCardio's anticipated emergency/urgent care solution, Cardio3KG.
The Cardio3KG solution is comprised of a set of algorithms and tools that provide a comprehensive method to assess cardiac electrical activity in time and space, and to extract additional 3-dimensional information from standard 12-lead ECG signals. This may enable Cardio3KG to assess potentially fatal diseases and conditions, including acute coronary syndrome, with greater speed and accuracy than possible by standard ECG.
When issued, together with US patent 7,266,408, this will be NewCardio's second U.S. patent covering broad aspects of the Company's 3-D ECG platform technology and, particularly, specifics of Cardio3KG, the first solution targeted to take full advantage of this intellectual property.
"This action by the USPTO reinforces our continuing investment in and commitment to our novel cardiovascular diagnostic platform technology, which provides 3-D analysis of the heart's electrical activity," stated NewCardio's CEO, Branislav Vajdic, PhD. "We believe the Cardio3KG solution will substantially improve the accuracy and timeliness of response and diagnosis for patients arriving at emergency departments with heart attack symptoms and related conditions. NewCardio's Cardio3KG will enable doctors to diagnose acute coronary syndromes more quickly and accurately than with traditional methods, possibly saving thousands of lives annually and reducing costs associated with unnecessary hospital admissions. We also believe Cardio3KG, along with QTinnoâ?¢ and CardioBipâ?¢, represent important steps forward in validating our 3-D ECG platform's ability to improve cardiac diagnosis, clinical outcomes, and drug safety. Â We are pleased that patent offices in both the US and Europe are acknowledging our proprietary claims to our core technologies."
We continue to stand by our story that this is a company headed big places- including an upgrade to the NASDQ. The company's three core technologies are set to capture huge market shares of both existing and new markets.
SNSS Ready for Phase III Trial
Written by Staff and Wire Reports
Thursday, 25 February 2010 07:19
http://biomedreports.com/articles/most-popular/30144-snss-ready-for-phase-iii-trial.html
Upgrade KERX
http://finance.yahoo.com/q/ud?s=KERX
Date Research Firm Action From To
25-Feb-10 Roth Capital Initiated Buy
http://www.finviz.com/quote.ashx?t=kerx&ty=c&ta=0&p=d
25-Feb-10 Initiated Roth Capital Buy $7
Upgrades & Downgrades History (KERX)
http://finance.yahoo.com/q/ud?s=KERX
Date Research Firm Action From To
25-Feb-10 Roth Capital Initiated Buy
http://www.finviz.com/quote.ashx?t=kerx&ty=c&ta=0&p=d
25-Feb-10 Initiated Roth Capital Buy $7
NewCardio Receives Notice of Allowance for Vital Patent for Cardio3KG(TM) / Represents Core Patent for NewCardio's 3-D ECG platform technology
25.02.2010 14:46
http://www.finanznachrichten.de/nachrichten-2010-02/16232363-newcardio-receives-notice-of-allowance-for-vital-patent-for-cardio3kg-tm-represents-core-patent-for-newcardio-s-3-d-ecg-platform-technology-008.htm
SANTA CLARA, Calif., Feb. 25 /PRNewswire-FirstCall/ -- NewCardio, Inc. (BULLETIN BOARD: NWCI) a cardiac diagnostic technology provider, announced today that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a patent covering technology relating to NewCardio's Cardio3KG solution (formerly VisualECG or Visual3Dx). This represents the core patent for NewCardio's anticipated emergency/urgent care solution, Cardio3KG.
The Cardio3KG solution is comprised of a set of algorithms and tools that provide a comprehensive method to assess cardiac electrical activity in time and space, and to extract additional 3-dimensional information from standard 12-lead ECG signals. This may enable Cardio3KG to assess potentially fatal diseases and conditions, including acute coronary syndrome, with greater speed and accuracy than possible by standard ECG.
When issued, together with US patent 7,266,408, this will be NewCardio's second U.S. patent covering broad aspects of the Company's 3-D ECG platform technology and, particularly, specifics of Cardio3KG, the first solution targeted to take full advantage of this intellectual property.
"This action by the USPTO reinforces our continuing investment in and commitment to our novel cardiovascular diagnostic platform technology, which provides 3-D analysis of the heart's electrical activity," stated NewCardio's CEO, Branislav Vajdic, PhD. "We believe the Cardio3KG solution will substantially improve the accuracy and timeliness of response and diagnosis for patients arriving at emergency departments with heart attack symptoms and related conditions. NewCardio's Cardio3KG will enable doctors to diagnose acute coronary syndromes more quickly and accurately than with traditional methods, possibly saving thousands of lives annually and reducing costs associated with unnecessary hospital admissions. We also believe Cardio3KG, along with QTinno(TM) and CardioBip(TM), represent important steps forward in validating our 3-D ECG platform's ability to improve cardiac diagnosis, clinical outcomes, and drug safety. We are pleased that patent offices in both the US and Europe are acknowledging our proprietary claims to our core technologies."
About NewCardio, Inc.
NewCardio is a cardiac diagnostic and services company developing and marketing proprietary software platform technologies to provide higher accuracy to, and increase the value of, the standard 12-lead electrocardiogram (ECG). NewCardio's three-dimensional ECG software platform reduces the time and expense involved in assessing cardiac status while increasing the ability to diagnose clinically significant conditions which were previously difficult to detect. NewCardio's software products and services significantly improve the diagnosis and monitoring of cardiovascular disease, as well as cardiac safety assessment of drugs under development. For more information, visit http://www.newcardio.com/.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based on currently available information and assumptions made by management. Although we believe that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including the potential risks and uncertainties set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2009 and relate to our business plan, our business strategy, development of our proprietary technology platform and our products, timing of such development, timing and results of clinical trials, level and timing of FDA regulatory clearance or review, market acceptance of our products, protection of our intellectual property, implementation of our strategic, operating and people initiatives, benefits to be derived from personnel and directors, ability to commercialize our products, our assumptions regarding cash flow from operations and cash on-hand, the amount and timing of operating costs and capital expenditures relating to the expansion of our business, operations and infrastructure, implementation of marketing programs, our key agreements and strategic alliances, our ability to obtain additional capital as, and when, needed, and on acceptable terms and general economic conditions specific to our industry, any of which could impact sales, costs and expenses and/or planned strategies and timing. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
To join our email distribution please click this link: http://www.b2i.us/irpass.asp?BzID=1645&to=ea&s=0
Investor Contact: Hayden IR Jeff Stanlis, Partner (602) 476-1821 jeff@haydenir.com
NewCardio, Inc.
CONTACT: Jeff Stanlis, Partner of Hayden IR, +1-602-476-1821,
jeff@haydenir.com, for NewCardio, Inc.
Web Site: http://www.newcardio.com/
© 2010 PR Newswire
Unilife Corporation's (UNIS) Alan Shortall to Ring The NASDAQ Stock Market Closing Bell
Date : 02/22/2010 @ 5:42AM
Source : GlobeNewswire Inc.
Stock : (UNIS)
http://ih.advfn.com/p.php?pid=nmona&article=41670677&symbol=UNIS
Unilife Corporation's (UNIS) Alan Shortall to Ring The NASDAQ Stock Market Closing Bell
ADVISORY, Feb. 22, 2010 (GLOBE NEWSWIRE) --
What:
Unilife Corporation (UNIS) will visit the NASDAQ MarketSite in New York City's Times Square.
In honor of the occasion, Alan Shortall, Chief Executive Officer of Unilife Corporation (UNIS), will ring the NASDAQ Closing Bell.
Where:
NASDAQ MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio
When:
Monday, February 22nd, 2010 at 3:45 p.m. to 4:00 p.m. ET
Contacts: Todd Fromer tfromer@kcsa.com
Garth Russell grussell@kcsa.com
NASDAQ MarketSite: Robert Madden (646) 441-5045 Robert.Madden@NASDAQOMX.com
Feed Information:
The Closing Bell is available from 3:50 p.m. to 4:05 p.m. on AMC-3/C-3 (ul 5985V; dl 3760H). The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Robert Madden at (646) 441-5045.
Radio Feed:
An audio transmission of the Closing Bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Ascent fiber 1623 as well.
Facebook and Twitter:
For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies, please visit our Facebook page at:
http://www.facebook.com/pages/NASDAQ-OMX/108167527653
For news tweets, please visit our Twitter page at:
http://twitter.com/nasdaqomx
Webcast:
A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx:
Photos:
To obtain a high-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.
About Unilife Corporation (UNIS):
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.
Unilife's main product is the Unifill™ ready-to-fill syringe, which is designed to be supplied to pharmaceutical manufacturers in a form that is ready for filling with injectable drugs and vaccines. Unilife has a strategic partnership with sanofi-aventis, a large global pharmaceutical company, pursuant to which it has paid Unilife a EUR 10 million exclusivity fee and has committed to pay up to an additional EUR 17 million to fund an industrialization program for the Unifill™ syringe. Upon the scheduled completion of the industrialization program in late 2010, Unilife expects to commence the supply and sale of the Unifill™ syringe to sanofi-aventis. Unilife is also in discussions with other pharmaceutical companies that are seeking to obtain access to the Unifill™ syringe.
About NASDAQ OMX:
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. *Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
Study of NewCardio's CardioBip Demonstrates Performance for Remote Wireless Monitoring and Detection of Atrial Fibrillation / Abstract Suggesting Improved Clinical Outcomes to Be Presented at Prestigious Heart Rhythm Society Annual Meeting
22.02.2010 14:05
http://www.finanznachrichten.de/nachrichten-2010-02/16197473-study-of-newcardio-s-cardiobip-demonstrates-performance-for-remote-wireless-monitoring-and-detection-of-atrial-fibrillation-abstract-suggesting-impr-008.htm
SAN JOSE, Calif., Feb. 22 /PRNewswire-FirstCall/ -- NewCardio, Inc., (OTC Bulletin Board: NWCI) a cardiac diagnostic technology provider, announced today that the Heart Rhythm Society (HRS) has accepted an abstract detailing the superior performance of NewCardio's patented CardioBip(TM) technology for remote wireless monitoring and detection of atrial fibrillation (AF). The study results, which discuss the use of CardioBip for improved AF monitoring and detection, are scheduled for oral presentation at the Heart Rhythm Society 31st Annual Scientific Sessions, May 12-15, 2010, in Denver, Colorado.
The abstract, titled "Three-dimensional Atrial Signal Reconstruction Facilitates Remote Detection Of Atrial Fibrillation," was written by Alexei Shvilkin, MD, PhD, Dejan Vukajlovic, MD, Vladan Vukcevic, MD, Ihor Gussak, MD, PhD, Bosko Bojovic, PhD, Uros Mitrovic, MS and Goran Simic, MS. The abstract highlights a new AF detection algorithm based on NewCardio's proprietary 3-D ECG processing platform.
Alexei Shvilkin, MD, PhD, of Beth Israel Deaconess Medical Center and Harvard Medical School, the abstract's first author and principal investigator, commented, "Reliable detection of AF represents an important clinical objective that could improve outcomes for remotely monitored patients. Because of the low amplitude of atrial electrical activity and noise associated with use of remote monitoring, current systems predominantly rely on heart rate variability to detect AF. As a result, some patients may be misdiagnosed, especially those undergoing post-ablation AF monitoring. In this study, we showed that NewCardio's CardioBip-based wireless technology enables the assessment of atrial activity by using ensemble signal processing, 12-lead ECG reconstruction, and 3-D processing of atrial activity. The new algorithm detects the difference in atrial activity between AF and sinus rhythm and does not rely on heart rate variability measurements. It has the potential to improve patient monitoring outcomes by differentiating AF from other confounding arrhythmia (e.g. atrial flutter, atrial tachycardia) that may occur after AF ablation."
Mark Kroll, PhD, Fellow of the HRS and NewCardio's Chairman of the Board of Directors, added, "We are excited to share this important clinical advancement with scientists, medical professionals and industry leaders at the HRS Annual Scientific Sessions. We are grateful that the HRS accepted this abstract for oral presentation. This provides the Company with added confidence in the science behind its solutions for chronic care."
The CardioBip is a unique, hand-held device that provides a solution for ECG remote monitoring. Patients can carry the CardioBip with them and use it to generate and transmit synthesized, accurate 12-lead ECGs at physician prescribed intervals of time, during ordinary daily activity or when symptoms develop. What makes CardioBip unique is its extreme ease of use, combined with the ability to generate recordings substantially equivalent in quality with standard 12-lead ECGs. The CardioBip works without any cables, cumbersome leads, wires or inconvenient skin electrodes, as the device's electrodes are integrated, offering potential compatibility with popular hand-held PDA platforms. On January 12, 2010, the U.S. Patent and Trademark Office issued patent 7,647,093, titled "Apparatus and method for cordless recording and telecommunication transmission of three special ECG leads and their processing." This represents the core patent for CardioBip.
HRS is the international leader in science, education and advocacy for cardiac arrhythmia professionals and patients, and the primary information resource on heart rhythm disorders. Its mission is to improve the care of patients by promoting research, education and optimal health care policies and standards. The Annual Scientific Sessions attract more than 9,000 professionals representing the allied specialties of cardiac pacing and cardiac electrophysiology. More information is available at http://www.hrsonline.org/Sessions/ on the Internet.
About NewCardio, Inc.
NewCardio is a cardiac diagnostic and services company developing and marketing proprietary software platform technologies to provide higher accuracy to, and increase the value of, the standard 12-lead electrocardiogram (ECG). NewCardio's three-dimensional ECG software platform reduces the time and expense involved in assessing cardiac status while increasing the ability to diagnose clinically significant conditions which were previously difficult to detect. NewCardio's software products and services significantly improve the diagnosis and monitoring of cardiovascular disease, as well as cardiac safety assessment of drugs under development. For more information, visit http://www.newcardio.com/.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based on currently available information and assumptions made by management. Although we believe that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including the potential risks and uncertainties set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2008 and relate to our business plan, our business strategy, development of our proprietary technology platform and our products, timing of such development, timing and results of clinical trials, level and timing of FDA regulatory clearance or review, market acceptance of our products, protection of our intellectual property, implementation of our strategic, operating and people initiatives, benefits to be derived from personnel and directors, ability to commercialize our products, our assumptions regarding cash flow from operations and cash on-hand, the amount and timing of operating costs and capital expenditures relating to the expansion of our business, operations and infrastructure, implementation of marketing programs, our key agreements and strategic alliances, our ability to obtain additional capital as, and when, needed, and on acceptable terms and general economic conditions specific to our industry, any of which could impact sales, costs and expenses and/or planned strategies and timing. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
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CONTACT: Investor Contact, Jeff Stanlis, Partner at Hayden IR,
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...some DD
(1)
http://www.novelos.com/
NOV-002, the lead compound acts as a chemopotentiator and a chemoprotectant, in combination with chemotherapy. Novelos is conducting an international pivotal Phase 3 trial of NOV-002 for treatment of lung cancer, under a Special Protocol Assessment (SPA) and Fast Track. Trial conclusion is expected in early 2010. NOV-002 is approved and marketed in Russia by Pharma BAM under the trade name Glutoxim®. It has been administered to over 10,000 patients, including clinical studies of 390 patients across many tumor types, demonstrating clinical efficacy and excellent safety data.
Novelos' randomized, open-label, international, pivotal Phase 3 trial is evaluating NOV-002 in combination with paclitaxel and carboplatin versus paclitaxel and carboplatin alone, in approximately 900 patients with Stage IIIb/IV NSCLC. The trial, with a primary efficacy endpoint of improvement in median overall survival, is being conducted across approximately 12 countries and 100 clinical sites. Novelos commenced the trial in November 2006, and reached target enrollment of 840 patients in March 2008. This pivotal Phase 3 trial is expected to conclude in early 2010.
(2)
LINK
January 7, 2010
NOVELOS THERAPEUTICS REACHES 725th EVENT IN PIVOTAL PHASE 3 LUNG CANCER TRIAL
...According to the SAP, a total of 725 events are required to detect a 25% improvement in overall survival (hazard ratio of 0.8) with 85% power and a two-sided significance level of 0.05.
(3)
http://www.novelos.com/
NOV-002 was approved in Russia where it is marketed by PharmaBAM under the trade name Glutoxim®.NOV-002 has already been administered to over 10,000 patients, including clinical studies of 390 patients across many tumor types, demonstrating clinical efficacy and excellent safety. In one controlled, randomized Russian Phase 2 trial, NOV-002 in combination with cisplatin-based chemotherapy increased the one-year survival of advanced NSCLC patients from 17% to 63% (p < 0.01) and improved tolerance of chemotherapy (p < 0.01) versus the control.
(4)
http://finance.yahoo.com/news/Novelos-NVLTOB-Study-Patients-iw-313571586.html?x=0&.v=1
Novelos' (NVLT.OB) Study Patients Continue to Live Longer as Pfizer Stops Lung Cancer Study
...it was reported that an independent data monitoring committee found by analyzing data from Pfizer's late-stage study that the addition of figitumumab to a combination of older medications -- paclitaxel and carboplatin -- was unlikely to meet the primary endpoint of improving overall survival compared to the combination of paclitaxel and carboplatin alone.
Meanwhile, Novelos' randomized, open-label, international, pivotal Phase 3 trial continues evaluating NOV-002 in combination with paclitaxel and carboplatin versus paclitaxel and carboplatin alone, in approximately 900 patients with Stage IIIb/IV lung cancer.
Other drugs like motesanib, by Takeda Pharmaceutical and Amgen and Nexavar, from Bayer and Onyx Pharmaceuticals, have shown negative effects in that cell type, leaving the market wide open for Novelos' NOV-002.
"We actually potentiate the chemotherapy," said Palmin in a recent interview with BioMedReports. "We make the cancer cells more sensitive to chemotherapy and we also inhibit the cancer's ability to metastasize (spread), so there are all sorts of interesting effects that happen at the tumor level. However, on the normal cells -- for example bone marrow cells and blood cells -- which of course get damaged by chemotherapy -- we don't stop the damage but we do help the recovery from that damage. In the words of big pharma, 'if this Phase III trial is positive, this will be revolutionary for the cancer field.'"
SEC to consider new short sale curbs next week
Rachelle Younglai
WASHINGTON
Fri Feb 19, 2010 6:26pm EST
http://www.reuters.com/article/idUSTRE61I5BR20100219
WASHINGTON (Reuters) - Securities regulators will consider new short-sale restrictions on Wednesday, more than a year after the financial crisis provoked cries to rein in investors who bet on a stock's decline.
The Securities and Exchange Commission is expected to vote on rules that would restrict short selling in a company's stock if that stock fell precipitously, a person familiar with the SEC plan said.
The rule being considered is seen as a compromise for traders who opposed further curbs and lawmakers and some companies who had been pushing the SEC to reinstate the so-called "uptick rule" which dates from the Depression.
First adopted after the 1929 market crash, the uptick rule only allowed shorting if the last sale price was higher than the previous price. But the SEC abolished it in 2007 after concluding that it was no longer effective in modern markets.
Short sales are used by investors who believe a stock's price will fall. In a short sale, an investor borrows stock and sells it in the hope that its price will drop. When it does, seller profits by buying back the stock at the lower price and returning the borrowed shares.
Under pressure from Congress, the SEC proposed a number of measures last year to rein in short selling. Although the activity is a legitimate form of investing, lawmakers and bank executives blamed short selling for contributing to the downfall of now-defunct investment banks Lehman Brothers and Bear Stearns.
The SEC proposals include a version of the uptick rule and other restrictions that would apply across equity markets.
The regulator also proposed curbs that would only apply if a stock fell by a certain percentage.
The SEC is expected to consider a "circuit breaker" measure that would trigger a so-called passive bid test, which would only allow short selling above the national best bid, the source said.
The agency is considering a circuit breaker that would kick in if a stock's price drops by more than a certain percentage such as 10 percent, said the source, who requested anonymity because the proposal is in flux and has not been made public.
The SEC had no immediate comment.
Any new rule needs the support of the majority of the five SEC commissioners. The two Republican commissioners are not expected to vote in favor of the short-sale restrictions.
INTERNATIONAL ACCOUNTING RULES
At the same meeting, the SEC is expected to discuss a plan to allow U.S. companies to use international accounting standards instead of U.S. accounting rules.
Under former SEC Chairman Christopher Cox, the agency had mapped out a plan that would allow U.S. companies to use international standards by 2014 instead of U.S. rules known as Generally Accepted Accounting Principles or U.S. GAAP.
It is unclear whether current SEC chairman Mary Schapiro supports that timeline.
Policymakers generally agree that there should be one set of global accounting standards instead of two sets of rules, the international standards and U.S. GAAP.
But there is debate over how to achieve that goal and whether U.S. companies should be allowed to use the international standards, even though dozens of countries have already adopted them.
The SEC is also expected to reaffirm its support for a single set of high quality global accounting standards.
(Reporting by Rachelle Younglai; Editing by Leslie Gevirtz, Bernard Orr)
...last year:
02/18/2009 Form (8-K)
Zoom Technologies Reports Results for the Fourth Quarter of 2008
03/12/2009 Form (10-K)
Annual Report
NOVAVAX Presents Positive Clinical Results at The World Health Organization Conference, Geneva, Switzerland
- Positive Clinical Results from Pivotal Study of H1N1 Virus-Like Particle (VLP) Pandemic Influenza Vaccine in
- Immunogenicity responses at all dose levels meet U.S. and European regulatory authorities recommended criteria for seroconversion and seroprotection
- More than fifty percent of the volunteers already enrolled in Stage B of study
Novavax, Inc. On Friday February 19, 2010, 6:00 am EST
http://finance.yahoo.com/news/NOVAVAX-Presents-Positive-prnews-202400648.html?x=0&.v=1
The Hartford Declares Quarterly Dividend of $0.05 Per Share
Date : 02/18/2010 @ 12:23PM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=41628692&symbol=HIG
The Hartford Declares Quarterly Dividend of $0.05 Per Share
The Board of Directors of The Hartford Financial Services Group, Inc. (NYSE: HIG) today declared a quarterly dividend of $0.05 per share of Common Stock, payable on April 1, 2010, to shareholders of record at the close of business on March 1, 2010.
About The Hartford Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 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 2008 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.
Discovery Labs Prices $16.5 Million Public Offering of Common Stock and Warrants
Thursday February 18, 2010, 8:45 am
http://finance.yahoo.com/news/Discovery-Labs-Prices-165-pz-2545028264.html?x=0&.v=1
WARRINGTON, Pa., Feb. 18, 2010 (GLOBE NEWSWIRE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO) today announced that it has priced an underwritten public offering of 27,500,000 units at a price to the public of $0.60 per unit for gross proceeds of $16,500,000. Each unit consists of one share of common stock and a warrant to purchase 0.50 of a share of common stock. The shares of common stock and warrants are immediately separable and will be issued separately such that no units will be issued. The warrants are exercisable immediately upon issuance, have a five-year term and an exercise price of $0.85.  Net proceeds, after estimated underwriting discounts and commissions and other estimated fees and expenses, and assuming the Warrants are not exercised, will be approximately $15.1 million. The offering is expected to close on or about February 23, 2010, subject to satisfaction of customary closing conditions.
Lazard Capital Markets LLC is acting as sole underwriter for the offering.
The net proceeds from the offering will be used to support Discovery Labs' general corporate activities and for expenses associated with maintaining its research and development operations, including manufacturing, quality and analytical capabilities, product development and clinical operations and for other general corporate purposes.
The securities described above are being offered by Discovery Laboratories, Inc. pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commission web site at http://www.sec.gov, or from Lazard Capital Markets LLC, 30 Rockefeller Plaza, 60th Floor, New York, NY 10020 or via telephone at (800) 542-0970.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Discovery Laboratories, Inc. nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.Â
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 eventually result in delisting of Discovery Labs' common stock and 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.
NOVAVAX Named to Fast Company's Top Ten Most Innovative Biotech Companies List
18.02.2010 14:11
http://www.finanznachrichten.de/nachrichten-2010-02/16174584-novavax-named-to-fast-company-s-top-ten-most-innovative-biotech-companies-list-008.htm
ROCKVILLE, Md., Feb. 18 /PRNewswire-FirstCall/ -- Novavax, Inc. today announced that Fast Company has placed Novavax as one of the Top Ten Most Innovative Companies in the Biotech industry. In its selection, Fast Company's editorial team analyzed information on thousands of businesses across the globe. They noted that it was not just about revenue growth and profit margins that Fast Company endeavored to identify, it was also about creative models and progressive cultures -- to define the many forms of innovation that exist across the business landscape. This recognition will appear in both the March 2010 issue of Fast Company magazine and also on the Fast Company website.
"It was invigorating to engage with so many exciting new ideas and developments," said Fast Company editor Robert Safian. "Our goal was to offer a snapshot of the creativity at work in the global marketplace and to inspire the Fast Company audience with illustrations of how powerful and effective business can be."
Rahul Singhvi, President and Chief Executive Officer of Novavax said, "Novavax is honored to have our innovative technology and manufacturing approaches recognized by Fast Company. Novavax believes its vaccine initiatives have the potential to impact millions of people affected by infectious diseases each year by creating novel vaccines that can be produced in a cost effective and timely manner within the same scalable platform worldwide."
About Novavax
Novavax, Inc. is a clinical-stage biotechnology company creating novel vaccines to address a broad range of infectious diseases worldwide, including H1N1, using advanced proprietary virus-like-particle (VLP) technology. The company produces potent VLP-based recombinant vaccines utilizing new and efficient manufacturing approaches. Novavax is committed to using its VLP technology to create country-specific vaccine solutions. The company has formed a joint venture with Cadila Pharmaceuticals, named CPL Biologicals, to develop and manufacture vaccines, biological therapeutics and diagnostics in India. Additional information about Novavax is available on the company's website: http://www.novavax.com/
...can you look at EMKR !?? please
thanks for advice
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Solar Rally Feels Awfully Familiar
Tuesday February 16, 2010, 12:15 pm EST
http://finance.yahoo.com/news/Solar-Rally-Feels-Awfully-indie-2369170159.html?x=0&.v=3
'UNIS' PRESENTATION (February 2010) -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46718240
Stock Quote Notification 2/16/2010 (first day on NASDAQ)
Daily closing stock quote for Unilife Corporation (NASDAQ:UNIS)
2/16/2010 3:59:33 PM
Last Price Change Open Day High 52-Week High
10.06 +1.46 (16.98%) 8.60 16.00 0.00
Volume Previous Close Day Low 52-Week Low
1,800 8.60 8.60 0.00
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...last post of the day!
CEL-SCI Corporation Releases Letter to Shareholders
17.02.2010 15:06
http://www.finanznachrichten.de/nachrichten-2010-02/16164232-cel-sci-corporation-releases-letter-to-shareholders-008.htm
VIENNA, Va., Feb. 17 /PRNewswire-FirstCall/ -- The following letter is being released by CEL-SCI Corporation (NYSE AMEX: CVM) to its shareholders:
Dear Fellow Shareholders:
We are pleased to report to you that the past 12 months have put CEL-SCI in the best position ever. During this difficult time we were able to complete and validate the manufacturing facility for our cancer drug Multikine, a critical step before being able to manufacture Multikine for the Phase III clinical trial. We are developing a novel investigational treatment for H1N1 hospitalized patients and were able to take this investigational treatment into a clinical trial at Johns Hopkins University in record time. At the same time we also raised over $40 million in new capital and added a new marketing partner for Multikine in South Africa. Unlike the existing partners, Teva Pharmaceuticals and Orient Europharma, who will be participating in the Phase III study in Israel and parts of Asia, Byron Pharma will only be focused on marketing and will not participate in the Phase III trial. With the manufacturing facility completed and $36 million in the bank, we are now able to start our Phase III trial for Multikine in advanced primary head and neck cancer.
The Phase III study seeks to build on the excellent data we derived from our Phase II study of Multikine. The data were published in several leading peer-reviewed cancer journals. What is so impressive is that the data were derived from a well-controlled, blinded pathology study which used tumor samples from patients treated with Multikine in the last Phase II head and neck cancer study, as well as matched tumor samples from head and neck cancer patients not treated with Multikine. The pathologists who participated in this study were blinded to the study and to the patients' clinical outcome. The results were so impressive that we were able to present the pathology tumor data at ASCO (American Society of Clinical Oncology) and have them published in the very prestigious peer-reviewed Journal of Clinical Oncology. The promising overall survival data were presented in an oral presentation at the International Conference of Oral Oncology, Amsterdam, 2007 and were published in the peer-reviewed Journal of Oral Oncology.
The pathology data showed clear clinical benefit to the Multikine-treated patients and suggested that overall patient survival should be improved with Multikine administration. The longer-term follow-up of the Multikine-treated patients showed that overall survival indeed was improved in these patients. To avoid any bias, the Multikine survival data in the Phase II trial was compared to the results of all peer reviewed published data available at that time (39 publications). As time progressed and more publications became available, we updated this comparison and included all of the more recently published peer-reviewed data from these publications (a total of 55 publications). Our findings of the impact of Multikine administration on the overall survival benefit for these patients still held true.
The safety and efficacy data for Multikine were reviewed by different regulatory agencies, including the US Food and Drug Administration (FDA), prior to giving CEL-SCI clearance to proceed with a global Phase III for Multikine in head and neck cancer. The open-label, randomized, controlled Phase III study of Multikine in patients with head and neck cancer is designed to demonstrate that Multikine administration to these patients yields an overall survival benefit. The study will enroll about 800 patients worldwide.
While we already showed a 33% improvement in overall survival in Phase II, we only need 10% in the Phase III study to meet our primary endpoint. We have added multiple years to the development process of Multikine in order to build a Multikine dedicated manufacturing facility near Baltimore. This was done at the advice of the regulatory agencies and as an additional step of risk mitigation since the use of a contract manufacturer adds a great deal of risk in maintaining quality control. We have taken every conceivable risk mitigation step to increase the probability of a favorable outcome for this breakthrough product.
On the other hand, recognizing that every drug development carries risk, we have attempted to set the study up to become a huge financial success for the shareholders. Assuming we are right, Multikine will become the first treatment to be used in the treatment of nearly all newly diagnosed head and neck cancer patients (about 650,000 patients worldwide). It will become part of the new standard of care. That means that doctors will be advised to use Multikine as the first treatment for head and neck cancer patients. Insurance companies and governments should reimburse the use of Multikine because it will be cost effective and because they pay for the current standard of care treatments, surgery, radiation and chemotherapy. This would translate into billions of dollars in sales while at the same time helping to save lives. Usually such successes are shared with a big pharmaceutical partner and the upside for the small company's shareholders is limited. In the case of CEL-SCI, shareholders still control most of the upside as CEL-SCI still owns all of the major marketing rights. Very few companies find themselves in this advantageous position as they enter Phase III. A major drug for a large unmet medical need, unencumbered by a partnership in the biggest markets!
We feel that we have created a great situation and opportunity for our shareholders with the development of Multikine as a first-line treatment for cancer. We have a great team and, for the first time, the funds to execute our plans.
We have also advanced with the very rapid development of our investigational treatment for H1N1 hospitalized patients. This treatment is based on our LEAPS technology which allows us to direct an immune response outcome. During the height of the H1N1 wave in the fall of 2009 we worked as fast as possible to move into clinical trials for this new investigational treatment of hospitalized H1N1 patients, as these patients are at serious risk of dying. We started a study at the Johns Hopkins University School of Medicine in November 2009. This study needs to enroll 20 H1N1 hospitalized patients and 20 healthy individuals as the control group. We are waiting for Johns Hopkins to complete the study. Patient enrollment is completely dependent on patient availability of H1N1 hospitalized patients at Johns Hopkins.
Currently H1N1 does not appear to be a big problem in the US. However, it continues to infect and kill patients in other places around the world. Some people think that H1N1 is gone, like Avian Flu and SARS appear to be gone. H1N1 is different though. H1N1 has already infected different populations all over the world. It is the first flu virus that can infect humans throughout all four seasons. As a flu virus it undergoes rapid mutations. As such, similar to the normal seasonal flu, we are likely to see H1N1 reappear in a mutated form. Our greatest fear is that it might pick up pieces of genetic information from the more deadly Avian flu or the Spanish flu and become an easy to transmit life threatening virus. To address this possibility, CEL-SCI scientists have included in the LEAPS-H1N1 investigational treatment non-changing parts of the H1N1 virus, as well as non-changing parts of the Avian flu and Spanish flu viruses. We will continue with the development of this investigational treatment because we expect it to become increasingly important in the future.
As we are now entering the home stretch for Multikine, many people will have opinions about its prospects, favorable and unfavorable. While many lives could depend on the success of the Multikine Phase III study, a significant amount of money is at stake as well. You may ask us to respond to articles written about CEL-SCI on the internet. We believe it is important to set the record straight, and will try to respond, where practical, to credible providers of information in order to ensure that shareholders have the correct information. However, we will not respond to writers of dubious credibility, people who clearly have an agenda of bashing and who attempt to distort or obfuscate the facts. We hope that shareholders will make their decision on the merits of the drugs and the many peer reviewed scientific publications, not on what is said by bloggers with an agenda, bashers and other dubious characters. Remember, many of them have an agenda quite different from yours and ours.
While success is never a certainty, we believe that we have already overcome many obstacles. We have positioned CEL-SCI and its investors to benefit from an opportunity that few small biotechnology companies ever get. The ability to conduct a pivotal clinical study in an area which represents a large unmet medical need, where the company maintains a substantial upside! A chance to develop a non-toxic cancer therapy! As always, we thank you for your support.
Sincerely, Geert Kersten Chief Executive Officer Maximilian de Clara President
When used in this report, the words "intends," "believes," "anticipated" and "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation's SEC filings, including but not limited to its report on Form 10- K for the year ended September 30, 2009. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For more information, please visit http://www.cel-sci.com/.
CEL-SCI Corporation
CONTACT: Gavin de Windt of CEL-SCI Corporation, +1-703-506-9460
Web Site: http://www.cel-sci.com/
© 2010 PR Newswire
PRELIMINARY PROSPECTUS SUPPLEMENT
Prospectus filed pursuant to Rule 424(b)(5) (424B5)
Date : 02/17/2010 @ 6:08AM
Source : Edgar (US Regulatory)
Stock : (CXM)
http://ih.advfn.com/p.php?pid=nmona&cb=1266416511&article=41586656&symbol=A^CXM
Table of Contents
The information in this preliminary prospectus supplement is not complete and may be changed. A registration statement relating to the securities has become effective under the Securities Act of 1933, as amended. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and they are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
Filed Pursuant to Rule 424(b)(5)
File No. 333-147947
SUBJECT TO COMPLETION
DATED: February 17, 2010
PRELIMINARY PROSPECTUS SUPPLEMENT
(To Prospectus dated December 19, 2007)
"LOGO"
Up to $10,000,000 of Units
With Each Unit Consisting of Ten Shares of Common Stock and
a Warrant to Purchase Five Shares of Common Stock
$ Per Unit
We are offering up to $10,000,000 of units, each unit consisting of ten shares of our common stock, par value $0.0001 per share, and a warrant to purchase five shares of our common stock. Each warrant entitles its holder to purchase five shares of our common stock at an exercise price of $ per share and will be exercisable at any time on or after six months from the date of issuance for a period of five years from that date. Units will not be issued or certificated. The units will separate immediately and the common stock and warrants will be issued separately and the common stock will trade separately. The units are being offered and sold at a price of $ per unit. The price per unit is being allocated as $ per share of common stock and $0.01 per warrant.
This is a reasonable best efforts offering by us, with Dawson James Securities, Inc. acting as our exclusive placement agent. We have entered into a letter agreement with the placement agent, relating to the units offered by this prospectus supplement. The placement agent is not purchasing or selling any securities pursuant to this prospectus supplement or the accompanying prospectus, nor is it required to sell any specific number or dollar amount of the securities offered hereby, but will use its reasonable best efforts to arrange for the sale of the securities being offered. See the section entitled “Plan of Distribution” beginning on page S-17 of this prospectus supplement for more information regarding these arrangements. The placement agent will receive compensation for sales of the securities offered hereby at a fixed commission rate of 7.0% of the gross proceeds of the offering. We also agreed to issue the placement agent warrants to purchase the number of shares of common stock equal to 5.0% of the aggregate shares of common stock sold in this offering at an exercise price of 125% of the offering price described herein. The warrants issued to the placement agent will be exercisable upon the six month anniversary of their date of issuance through December 19, 2012.
At the election of us and Dawson James Securities, Inc., we may elect to increase the aggregate offering amount in this offering by up to 20%, not to exceed $12,000,000 in the aggregate.
We have not arranged to place the funds received from this offering in an escrow, trust or similar account. We will open and maintain an account at the clearing agent designated by Dawson James Securities, Inc. to facilitate the transactions contemplated by the letter agreement. At the closing of the offering, purchasers will make payments directly to that account and we will issue and deliver the securities. We expect the closing to occur on or about March 5, 2010. Our common stock is traded on the NYSE Amex under the symbol “CXM”. We do not intend to apply for listing of the warrants on any securities exchange. On February 16, 2010, the closing sale price of our common stock was $0.69 per share.
Investing in our common stock involves risks. Before investing in our common stock you should carefully consider the risk factors described in “ Risk Factors ” in this prospectus supplement beginning on page S-9, and in other documents incorporated by reference, including our Annual Report on Form 10-K for our fiscal year ended December 31, 2008.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.
We urge you to carefully read this prospectus supplement and the accompanying prospectus which will describe the terms of the offering before you make your investment decision.
DAWSON JAMES SECURITIES, INC.
The date of this prospectus supplement is February , 2010
...
Biotech Stock Alert for Discovery Laboratories Issued by StockPreacher
Source: StockPreacher On Wednesday February 17, 2010, 6:50 am EST
http://finance.yahoo.com/news/Biotech-Stock-Alert-for-pz-1353824554.html?x=0&.v=1
DALLAS, Feb. 17, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Discovery Laboratories Inc. (Nasdaq:DSCO - News). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.Â
The full report is available at: http://www.stockpreacher.com/n/DSCO
Get our alerts BEFORE the rest of the market. Follow us on Twitter: http://twitter.com/StockPreacher
Discovery Laboratories Inc. (DSCO) is a biotechnology company developing surfactant replacement therapies (SRT) to treat respiratory disorders and diseases. Its novel technology (KL4 Surfactant Technology) produces a synthetic, peptide-containing surfactant (KL4 Surfactant) that is structurally similar to pulmonary surfactant, a substance produced naturally in the lungs and essential for survival and normal respiratory function. In addition, its capillary aerosol generating technology (Capillary Aerosolization Technology) produces a dense aerosol with a defined particle size, to deliver its aerosolized KL4 Surfactant to the deep lung.
Message Board Search: http://www.boardcentral.com/boards/DSCO
In the report, the analyst notes:
"For the quarter ended September 30, 2009, the Company reported a net loss of $7.2 million (or $0.06 per share) on 120.0 million weighted average common shares outstanding, compared to a net loss of $10.6 million (or $0.11 per share) on 98.6 million weighted average common shares outstanding for the same period in 2008.
"DSCO announced that in response to a written guidance recently received from the U.S. Food and Drug Administration (FDA) it will now focus on a pathway that would entail solely performing additional preclinical work, instead of conducting a limited clinical trial, to potentially gain FDA marketing approval for Surfaxin® (lucinactant) for the prevention of Respiratory Distress Syndrome (RDS) in premature infants. Based on prior guidance received from the FDA, DSCO expected that a limited, pharmacodynamic-based (PD) clinical trial in preterm infants would be required to address the sole remaining Chemistry, Manufacturing & Control (CMC) issue regarding the final validation of a fetal rabbit Biological Activity Test (BAT, an important quality control release and stability test) necessary for Surfaxin approval."
To read the entire report visit: http://www.stockpreacher.com/n/DSCO
See what investors are saying about DSCO at penny stock forum
StockPreacher.com is a small-cap research and investment commentary provider. StockPreacher.com strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information on StockPreacher, please visit: http://www.stockpreacher.com
StockPreacher.com Disclosure
StockPreacher.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. StockPreacher.com is a Web site wholly owned by BlueWave Advisors, LLC. Neither StockPreacher.com nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. Please read our report and visit our Web site, StockPreacher.com, for complete risks and disclosures.
Senior Research Associate
Bio-Quant, Inc. seeks a motivated individual to support multiple projects investigating putative anti-inflammatory and anti-cancer compounds. We seek a dedicated person to work in a fast-paced environment performing research efficiently and effectively to expedite contracted research studies and in-house drug discovery projects.
Requirements
* Experience in ELISA, western blot, cell culture and cellular in vitro assays, i.e. chemotaxis, apoptosis, and proliferation.
* Ability to work on multiple projects simultaneously and meet timelines and company objectives.
* Highly organized and team player.
For consideration, please send your resume by mail, fax or e-mail.
Bio-Quant, Inc.
Human Resources Department
6330 Nancy Ridge Dr.
Suite #103
San Diego, CA 92121 USA
Phone: 858-450-0048
Fax : 858-356-0788
E-mail : hr@bio-quant.com
http://www.bio-quant.com/career.html
MedaSorb Technologies Corporation Improves Cash Position and Hits Midway Point in Study Enrollment
Date : 02/17/2010 @ 7:30AM
Source : MarketWire
Stock : MedaSorb Technologies Corporation (MSBT)
http://ih.advfn.com/p.php?pid=nmona&article=41588105&symbol=MSBT
MONMOUTH JUNCTION, NJ -- (Marketwire) -- 02/17/10 --
MedaSorb Technologies Corporation (OTCBB: MSBT) and its wholly-owned subsidiary, CytoSorbents, Inc., announced that it was approved to participate, for its second year, in the New Jersey Emerging Technology and Biotechnology Financial Assistance Program. CytoSorbents was approved by the State to sell additional net operating losses, which has resulted in net proceeds of approximately $299,000 to the Company.
"This additional improvement in our cash resources will be used to continue the funding of our European Sepsis Trial -- evaluating the treatment of patients with severe sepsis and respiratory failure," commented Dr. Phillip Chan, CEO. "The proceeds from the sale of our net operating losses have additional benefit as a non-dilutive event for our shareholders. We are also pleased to announce the receipt of $80,000 from the University of Pittsburgh Medical Center, for our fourth year of sub-contracting work in support of their NIH grant studying sepsis. Additionally, we are excited to have enrolled our 50th patient, reaching the midway point in our 100 patient trial, and are continuing to work with all sites to maximize enrollment."
About MedaSorb, CytoSorbents and CytoSorb?
MedaSorb Technologies Corporation, and its operating subsidiary, CytoSorbents, is a therapeutic device company in clinical trials to treat severe sepsis, often called "overwhelming infection," with a novel blood purification device called CytoSorb?. Severe sepsis is typically caused by bacterial infections like pneumonia, or viral infections like influenza.
It afflicts more than 1 million people in the United States and an estimated 18 million people worldwide each year, killing one in every three patients despite the best treatment. In the United States, more die from severe sepsis than from either heart attacks, strokes or any single form of cancer. Much of the organ failure and mortality in severe sepsis is caused by the abnormal massive production of cytokines by the immune system, often called "cytokine storm." CytoSorb? is a cartridge containing highly porous polymer beads that are designed to filter cytokines and treat potentially fatal cytokine storm. As blood is pumped through the CytoSorb? cartridge using standard dialysis equipment, the beads bind and remove cytokines and other toxins from blood. The treated blood is then returned to the patient. The Company is currently conducting its European Sepsis Trial -- a multi-center, randomized, controlled clinical trial using its flagship CytoSorb? device to treat up to 100 patients with severe sepsis in the setting of respiratory failure. CytoSorb? is one of a number of different resins designed for different medical applications, including improved dialysis, the potential treatment of inflammatory and autoimmune disorders, treatment of rhabdomyolysis in trauma, drug detoxification and others.
Forward-Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. MedaSorb Technologies Corporation and CytoSorbents, Inc. believe that its primary risk factors include, but are not limited to: obtaining government approvals including required FDA and CE Mark approvals; ability to successfully develop commercial operations; dependence on key personnel; acceptance of the Company's medical devices in the marketplace; the outcome of pending and potential litigation; compliance with governmental regulations; reliance on research and testing facilities of various universities and institutions; the ability to obtain adequate financing in the future when needed; product liability risks; limited manufacturing experience; limited marketing, sales and distribution experience; market acceptance of the Company's products; competition; unexpected changes in technologies and technological advances; and other factors detailed in the Company's Form 10-KSB filed with the SEC on April 10, 2009, which is available at http://www.sec.gov.
Contact: David Lamadrid CytoSorbents, Inc.
(732) 329-8885 ext. 816 davidl@cytosorbents.com
UNILIFE CORPORATION - FORM 8-K (February 16, 2010)
http://ir.unilife.com/secfiling.cfm?filingid=950123-10-13458
http://ir.unilife.com/common/download/sec.cfm?companyid=ABEA-474G59&fid=950123-10-13458&cik=1476170
pg. 20/Presentation:
approx 50m shares of commen stock tradable on NASDAQ
UNIS Stock Quote/News/Charts/Ticker ... updated
Stock Alert Wednesday Feb 17
Wednesday, February 17, 2010
http://www.wallstpick.co.cc/2010/02/stock-alert-wednesday-feb-17.html
DSCO * encouraging developments
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.