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Picked up some more at .45 a minute or so ago. Bring on the squeeze!
Nabi Biopharmaceuticals Closes NicVAX(R) Option and License Agreement
ROCKVILLE, Md., March 8, 2010 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI - News) announced today that the closing requirements set forth in the exclusive option and license agreement for NicVAX(R) (Nicotine Conjugate Vaccine), dated November 13, 2009 with GlaxoSmithKlineBiologicals S.A. (GSK) have been met and the companies have closed the agreement. As a result, Nabi is entitled to receive an upfront payment of $40 million and GSK has been granted an option to exclusively in-license NicVAX on a worldwide basis and a license to develop next-generation nicotine vaccines using Nabi's intellectual property. In addition, Nabi is eligible to receive up to $460 million in potential option fees and regulatory, development and sales milestones for NicVAX and follow-on nicotine vaccines. Nabi will also receive royalties on global sales of NicVAX should GSK exercise its option, as well as royalties on global sales of next generation nicotine vaccines developed by GSK based on intellectual property licensed from Nabi.
"The closing of this agreement marks the culmination of our strategic alternatives process. We, along with our strategic partner, GSK are fully focused on realizing the significant value of NicVAX through the successful development and commercialization of this product," said Dr. Raafat Fahim, President and Chief Executive Officer of Nabi Biopharmaceuticals.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop products that target serious medical conditions in the areas of nicotine addiction and gram-positive bacterial infections. Nabi Biopharmaceuticals is currently developing NicVAX(R) (Nicotine Conjugate Vaccine), an innovative and proprietary investigational vaccine for treatment of nicotine addiction and prevention of smoking relapse. The company is headquartered in Rockville, Maryland. For additional information about Nabi Biopharmaceuticals, please visit http://www.nabi.com/.
Forward-Looking Statements
Statements in this release that are not strictly historical are forward-looking statements and include statements about products in development, results and analyses of clinical trials and studies, research and development expenses, cash expenditures, licensure applications and approvals, and alliances and partnerships, among other matters. You can identify these forward-looking statements because they involve our expectations, intentions, beliefs, plans, projections, anticipations, or other characterizations of future events or circumstances. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements as a result of any number of factors. These factors include, but are not limited to, risks relating to our ability to: complete the remaining PentaStaph sale milestones; initiate and conduct clinical trials and studies; raise sufficient new capital resources to fully develop and commercialize our products in development; attract, retain and motivate key employees; collect further milestone and royalty payments under the PhosLo Agreement; obtain regulatory approval for our products in the U.S. or other markets; successfully contract with third party manufacturers for the manufacture and supply of NicVAX; complete the NicVAX regulatory, development and sales milestones; and comply with reporting and payment obligations under government rebate and pricing programs. Some of these factors are more fully discussed, as are other factors, in our Annual Report on Form 10-K for the fiscal year ended December 27, 2008 filed with the Securities and Exchange Commission.
Good morning CDIVers!
Already up .11 pre-market.
http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=HRBR&mkttype=pre
GL.
Harbor BioSciences Reports New Phase I/IIa Data at ASCO Symposium and Announces Plans to Advance Prostate Cancer Treatment Apoptone(R) to Phase IIb
SAN DIEGO, March 8, 2010 (GLOBE NEWSWIRE) -- Harbor BioSciences Inc. (Nasdaq:HRBR - News) said today it had reported encouraging data from its ongoing Phase I/IIa clinical trial with Apoptone(R) (HE3235) for castration resistant prostate cancer (CRPC) -- also referred to as hormone resistant prostate cancer -- at the ASCO Genitourinary Cancers Symposium in San Francisco on March 6, 2010. Preliminary results from this study, conducted with participating member sites of the Prostate Cancer Clinical Trial Consortium (PCCTC), were first reported on November 16, 2009. Apoptone is a novel steroid analog of a dihydrotestosterone metabolite that has been found to induce cell death (apoptosis) in prostate tumors.
"Due to the initial observation of disease stabilization that we have seen in late-stage patients, we have worked with the PCCTC on a planned 226 patient Phase IIb trial in both taxane-resistant and taxane-naive CRPC patients," commented Dwight Stickney, M.D., Chief Medical Officer of Harbor BioSciences. "The Phase I/IIa trial was designed as a dose escalation study; and we acquired sufficient data to select the doses that will be used in the Phase IIb trial," Dr. Stickney added.
R. Bruce Montgomery, M.D., Associate Professor, Department of Medicine, Division of Oncology, University of Washington School of Medicine, and lead investigator of the ongoing Phase I/IIa clinical trial, presented the updated Apoptone data at the ASCO symposium on March 6, with the results described below.
Apoptone Clinical Study Update
To date, 42 taxane-resistant prostate cancer patients have been entered into the clinical trial at 7 dose levels. Of these 28 (67%) reached their first reassessment (two 28-day cycles), 15 (56%) of these had stable disease on scans or imaging and have received 1-8 additional treatment cycles before disease progression. Six patients continue to receive treatment. The Kaplan-Meier estimate(1) for the median time to progression is 15.3 weeks (range 4-40) for this ongoing trial. Due to early signs of activity, the 20 mg dose group was expanded to include 14 patients for which the data are essentially complete. Eleven of these were evaluable with an actual median time to progression of 20 weeks (range 8-28). Changes in PSA levels were consistent with the properties of this class of agent. The drug has been well tolerated and dose escalation has proceeded to 350 mg per day with no overt dose-limiting toxicities reported.
"Despite current treatments, there is an ongoing need for novel oral agents that can control the growth of prostate cancers that are progressing on conventional therapies or hormone treatments -- and it is encouraging that, thus far, the drug has been well tolerated and shown evidence of disease control," said Howard Scher, M.D., Chief of the Genitourinary Oncology Service at Memorial Sloan-Kettering Cancer Center and Principal Investigator of the PCCTC.
The Phase I/IIa trial, reported by Dr. Montgomery, is an open-label study with the primary objective of assessing safety, tolerability, pharmacokinetics and activity of Apoptone in men with CRPC and an ECOG performance status score of less than or equal to 2 (ambulatory and capable of at least self-care). Patient cohorts are defined by oral daily doses of 10 mg, 20 mg, 30 mg, 50 mg, 100 mg, 200 mg and 350 mg. Subjects are treated on 28-day cycles until toxicity or disease progression; CT and bone scans are obtained every two cycles to assess progression. Responding patients in both the chemotherapy-experienced and chemotherapy-naive groups will continue to be offered treatment under the current protocol for the balance of 2010 as appropriate.
Based on these encouraging signs of activity, the PCCTC recommended an extension of the current trial into patients that have not been treated with taxane chemotherapy. Accordingly, the subject eligibility criteria were amended to include earlier-stage, chemotherapy-naive patients in a 100 mg expansion cohort and 10 patients have been enrolled to date.
About Prostate Cancer
Over one million men in the United States have prostate cancer; approximately 90,000 of these patients have late-stage prostate cancer, resulting in approximately 28,000 deaths each year. There are currently no approved treatments for end-stage (hormone and chemotherapy refractory) prostate cancer and the survival time is estimated to be between 8 and 12 months.
About Harbor BioSciences, Inc.
Harbor BioSciences is a development-stage company with two product candidates in clinical trials: Apoptone in the cohort expansion portion of a Phase I/IIa trial of patients with late-stage prostate cancer, and Triolex(R) (HE3286), in a Phase IIa trial in obese type 2 diabetes mellitus patients. Apoptone and Triolex represent the lead candidates from Harbor BioSciences' small molecule platform based on metabolites or synthetic analogs of endogenous steroid hormones. For more information on Harbor BioSciences please visit http://www.harborbiosciences.com/.
(1) Kaplan-Meier Estimate is the standard statistical method for predicting the outcome of an ongoing study.
This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, our focus on attaining proof-of-concept data for Apoptone in its initial indication of CRPC; our planned 226 patient Phase IIb trial in both taxane-resistant and taxane-naive CRPC patients; and the continuation of treatment, with Apoptone, of men with CRPC for the balance of 2010 under our current Apoptone Phase Ib/IIa Clinical Trial protocol. Any statement included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Harbor BioSciences' actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in the Company's business, including, but not limited to: the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the Company's capital needs; the Company's ability to obtain additional funding; our ability to obtain regulatory approval for Apoptone, Triolex, or any other investigational drug candidate; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Harbor BioSciences undertakes no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.
Form 8-K for HARBOR BIOSCIENCES, INC.
http://biz.yahoo.com/e/100305/hrbr8-k.html
5-Mar-2010
Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure
On March 6, 2010, R. Bruce Montgomery, M.D., lead investigator of the ongoing Phase I/IIa clinical trial for Harbor Biosciences, Inc.'s Apoptone(r) (HE3235) drug, will present updated data for Apoptone at the ASCO Genitourinary Cancers Symposium in San Francisco. Apoptone is a novel steroid analog of a dihydrotestosterone metabolite that has been found to induce cell death (apoptosis) in prostate tumors. Apoptone is intended for use in the treatment of castration resistant prostate cancer (CRPC), also referred to as hormone resistant prostate cancer. Initial results from this study, conducted with participating member sites of the Prostate Cancer Clinical Trial Consortium (PCCTC), were reported on November 16, 2009.
Dr. Montgomery's presentation will note several developments including that the Kaplan-Meier estimate (a standard statistical method for predicting the outcome of an ongoing study) for the median time to progression for the ongoing trial is 15.3 weeks and the range is between four and forty weeks. Due to early signs of activity, the 20 mg dose group was expanded to include 14 patients. Eleven of the patients were evaluable with an actual median time to progression of 20 weeks and the range of eight and twenty eight weeks.
Based on these encouraging signs of activity, the PCCTC recommended an extension of the current trial into patients that have not been treated with taxane chemotherapy. In the extension, subject eligibility criteria have been amended to include earlier-stage, patients who have not yet been treated with chemotherapy. Ten such patients have been enrolled to date and will be treated with 100 mg doses of Apoptone.
The information in this Current Report on Form 8-K shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liability under such section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Here's a link to the ASCO presentation on Saturday, results are already up on the ASCO webpage, HRBR should issue a PR w/ the results either this weekend or on Monday...
http://www.asco.org/ASCOv2/Meetings/Abstracts?&vmview=abst_detail_view&confID=73&abstractID=30813
Haven't even been looking at this one since I bought it @ .0016...
All I can say is... WOW!
Looks really good here... Might even close green.
Nabi Biopharmaceuticals to Announce 2009 Fourth Quarter and Year-End Financial Results on March 10, 2010
ROCKVILLE, Md., March 5, 2010 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI - News) today announced that it will report its 2009 fourth quarter and full-year financial results on Wednesday, March 10, 2010, after the market close. The company will host a live webcast and conference call at 4:30 p.m. ET that day to discuss these results.
The webcast can be accessed at:
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=100445&eventID=2790161
(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your browser. Remove the space if one exists.) or via the Nabi Biopharmaceuticals website at http://www.nabi.com.
If you do not have Internet access, the U.S./Canada call-in number is 800-659-1942 and the international call-in number is 617-614-2710. The passcode is 75516930. An audio replay will be available for U.S./Canada callers at 888-286-2010 and for international callers at 617-801-6888. The replay passcode is 42817627. An audio replay of this call will be available through March 17, 2010. The press release and an archived version of the webcast will be available on the company's website at http://www.nabi.com .
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop products that target serious medical conditions in the areas of nicotine addiction and gram-positive bacterial infections. Nabi Biopharmaceuticals is currently developing NicVAX(R) (Nicotine Conjugate Vaccine), an innovative and proprietary investigational vaccine for treatment of nicotine addiction and prevention of smoking relapse. The company is headquartered in Rockville, Maryland. For additional information about Nabi Biopharmaceuticals, please visit http://www.nabi.com/
Nile Pushing Forward with CD-NP
http://finance.yahoo.com/news/Nile-Pushing-Forward-with-zacks-269750399.html?x=0&.v=1
Jason Napodano, CFA, On Friday March 5, 2010, 12:30 pm EST
On March 3, 2010, Nile Therapeutics (NasdaqCM: NLTX) reported financial results for the fourth quarter and full year 2009. Nile reported no revenues for the fourth quarter or full year 2009.
Net loss for the fourth quarter totaled $1.6 million, or $0.06 per diluted share. For the full-year 2009, Nile reported a net loss of approximately $7.9 million, or $0.31 per diluted share.
Nile exited 2009 with roughly $3.2 million in cash and investments. We believe this is sufficient cash to complete the ongoing phase II program and fund operations into the second half of the year.
Update on CD-NP
In June 2009, Nile initiated a phase II open-label, single-blind, placebo-control program designed to determine a safe and tolerable dose range of CD-NP that can be used in ADHF (acute decompensated heart failure) patients in the acute (presenting to the hospital) setting in combination with the standard of care (furosemide + vasoactive or inotropic agents).
The study was initially designed to enroll up to approximately 40 patients in 3 dose cohorts (1.25ng, 2.5ng, and 5ng/kg.min) of CD-NP over a 48 to 72-hour infusion. However, after dosing 7 subjects in the first cohort, four of whom received CD-NP at a dose level of 5 ng/kg/min and three of whom received placebo, Nile suspended enrollment of the study because the average blood pressure decrease in both the placebo and CD-NP patients was larger than predicted.
Management believes the greater-than-predicted response may have originated from the timing and quantity of concomitant medications (furosemide, nitro, etc.) versus the study of the drug in the acute setting, as well as from the inclusion of patients who were more susceptible to risks from blood pressure deviations.
It is important to know that ADHF patients often arrive at the hospital heavily medicated. Patients may be on oral medications including beta blockers, ACE inhibitors, anti-clotting agents, alpha blockers or statins. Physicians need to be careful when, and how much, they administer of any vasoactive drug. Care must be taken to make sure patients are not hypotensive prior to IV dosing of standard.
There is normally a drop in blood pressure following administration of furosemide, but the magnitude is manageable. It seems as though dosing CD-NP immediately following furosemide presents too great a hypotensive risk given the nature of the patient.
Therefore, management submitted to the FDA a protocol amendment to (1) modify the exclusion criteria relating to the timing and quantity of bolus IV furosemide administration acceptable in the first 24 hours upon hospital admission, (2) provide additional guidance on the concomitant use of vasoactive oral and IV medication, (3) increase the entry blood pressure range, and (4) add additional dose levels to be studied.
Following the FDA’s approval of the amended protocol, Nile began enrolling subjects in the 2nd and 3rd cohorts. As of March 1, 2010, enrollment is complete in the 1.25 ng/kg/min cohort. Enrollment is ongoing in the 2.5ng/kg/min cohort. So far there has been no substantial risk of hypotension in the 2nd or 3rd cohorts.
Nile also submitted a second protocol amendment to enable adding up to 3 additional cohorts. Management expects to test doses ranging from 3ng/kg/min up to 10ng/kg/min. This could increase the total enrollment of the study to approximately 75 patients. We expect full results from the expanded study to be available in the second half of 2010.
The Next Steps
Once the ongoing phase II program is complete, management plans to initiate a larger-scale phase IIb program during the second half of 2010. We expect this program to enroll roughly 300 patients.
We expect that management will seek to meet with the U.S. FDA to finalize the endpoints for this program following the analysis of the current phase II trial. We expect these endpoints to include relief of symptomatic dyspnea, as well as analysis of biomarkers for kidney function and ischemia, as well as safety assessments including risk of hypotension, renal function, cardiovascular events and mortality. The cost of this planned phase IIb program is estimated to be between $15 and $20 million.
Therefore, Management must secure financing for this phase IIb program later this year. There are essentially two options: form a developmental partnership or raise cash through the equity markets. The best option for shareholders of the near-term would be to sign a developmental partnership. This will provide the necessary funding for the phase IIb program without eliciting significant dilution. We look for this to take place in the third quarter 2010, assuming the current ongoing phase II program offers up encouraging results.
With a market capitalization of only $30 million, Nile Therapeutics shares are significantly under-valued. Recently, the stock has languished, most likely due to a lack of meaningful news-flow over the past few months or the knowledge on Wall Street that past drugs in this space have failed (see: J&J’s Natrecor, Merck’s rolofylline). But we have confidence in the ongoing phase II program.
We believe with positive data in hand, the company is worth at least $80 to $100 million. Taking the mid-range at $90 million, and then backing out the $20 million most likely required to fund the phase IIb program, we arrive at a value of $70 million for Nile Therapeutics. This equates to a price of $2.50 per share.
Just picked up some SNT in the mid-.38s
GLTA.
Maybe... I'm thinking we might be in the .80s by the end of March...
GL.
I like your estimates...
Adamis Pharmaceuticals Announces Termination of Merger Agreement
Adamis Pharmaceuticals Corporation (OTCBB: ADMP), announced today that Adamis and La Jolla Pharmaceutical Company have agreed to terminate their merger agreement relating to the proposed merger of the two companies. The termination follows the announcement by La Jolla on March 3, 2010, that its common stock would be suspended and delisted from the Nasdaq stock market effective at the open of business on Thursday, March 4, 2010. Although the overwhelming majority of La Jolla shareholders that returned their proxy voted to approve the merger, only 13% of La Jolla's outstanding common stock was represented. As a result, the La Jolla stockholder meeting and the solicitation of further votes had been cancelled due to the delisting from Nasdaq. La Jolla had previously announced that if its common stock was delisted from Nasdaq, it would need additional regulatory approvals to continue soliciting proxies, resulting in significant additional costs and time delays, and that such approvals would be difficult to obtain and may not be obtained at all.
"In light of fact that the boards of Adamis and La Jolla recommended the merger, and the Adamis shareholders voted to approve, we are disappointed that we were unable to complete the transaction. We wish them well. While we thought that the proposed transaction would be beneficial for both companies, we believe we have identified alternatives for moving forward and implementing our business plan, and we will immediately proceed with those alternatives," said Dennis J. Carlo, Ph.D., President and Chief Executive Officer of Adamis. "We are very excited about our recently announced agreement to acquire exclusive license agreements covering three small molecule compounds from Colby Pharmaceuticals for the potential treatment of human prostate cancer. In 2006 and 2007, two of the three compounds won the National Cancer Institute (NCI) RAPID Award. This award is given for compounds that the NCI consider the most promising new drugs for the treatment of cancer," added Dr. Carlo.
About Adamis Pharmaceuticals
Adamis Pharmaceuticals has two wholly owned subsidiaries, Adamis Laboratories and Adamis Viral Therapies. Adamis Labs expects to launch a series of niche prescription products in the allergy and respiratory therapeutic area, including its Epinephrine Injection USP 1:1000 (0.3mg Pre-Filled Single Dose Syringe) product launched last year. Adamis Viral Therapies is focused on the development of patented, proprietary technologies and recently entered into an agreement with Colby Pharmaceutical Company to acquire exclusive license agreements covering three small molecule compounds for the potential treatment of human prostate cancer.
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
For Additional Information
Mark Bernhard
mark@capitalgc.com
Mark Gundy
mark.gundy@capitalgc.com
Capital Group Communications, Inc.
Tel: 415.332.7200
La Jolla Pharmaceutical Announces Termination of Merger Agreement with Adamis Pharmaceuticals
La Jolla Pharmaceutical Company (Pink Sheets: LJPC) today announced that La Jolla and Adamis Pharmaceuticals Corporation (OTCBB: ADMP) have agreed to terminate their merger agreement relating to the proposed merger of the two companies. The termination follows La Jolla’s announcement on March 3, 2010, that its common stock would be suspended and delisted from The NASDAQ Stock Market (“Nasdaq”) effective at the open of business on March 4, 2010, and that its stockholders failed to vote in sufficient quantities for there to be a quorum to hold the stockholders’ meeting to approve the proposals related to the merger. Holders of only thirteen percent (13%) of La Jolla’s outstanding common stock had returned their proxy cards or otherwise indicated their votes prior to the start of the stockholders’ meeting. The meeting and the solicitation of further votes was canceled due to the delisting from Nasdaq.
“We were disappointed we were not able to secure enough votes from our stockholders to close the proposed merger with Adamis, as we believe the merger provided our stockholders with the best opportunity for potential future value,” said Dr. Deirdre Y. Gillespie, La Jolla’s CEO. “Our board of directors is evaluating the options available to La Jolla, which are very limited largely because the structure of our stockholder base, 66 million shares held by thousands of small stockholders, makes it extremely challenging, if not impossible, to accomplish any transaction that requires a stockholder vote.”
Immediately after Nasdaq suspended trading, the Company’s common stock began being quoted on the Pink OTC Markets Inc. (the “Pink Sheets”).
Good Morning all!
Senesco Insiders Elect Conversion Price Favorable to Company Related to Securities Previously Held By Stanford Venture Capital Holdings
NEW BRUNSWICK, N.J., March 5 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") (NYSE Amex: SNT) reported today that the insiders of the Company who had previously purchased all of the convertible debentures, warrants and common stock of Senesco which were formerly held by Stanford Venture Capital Holdings, Inc. have elected, subject to shareholder approval, to convert the convertible debentures at a conversion price of $0.83. Under the terms of the convertible debentures, such convertible debentures could have converted at a floating conversion rate equal to the lower of $0.83, or 80 percent of the lowest daily Volume-Weighted Average Price (VWAP) for the five-day period immediately preceding the conversion date, which equated to $0.22.
"Although insiders had the option to convert at a lower price based on the VWAP, they elected to convert at $0.83, which was the highest contractual conversion price possible," said Harlan Waksal, M.D., Senesco's Chairman of the Board. "This both minimizes shareholder dilution and strengthens Senesco's balance sheet. As a company, we remain committed to attracting sufficient financing and filing an IND for SNS-01, our multiple myeloma drug candidate."
About Senesco Technologies, Inc.
Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in New Brunswick, NJ. Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain inflammatory and ischemic diseases. Senesco takes its name from the scientific term for the aging of plant cells: senescence. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress. The Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products.
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the ability of the Company to consummate additional financings; the ability of the Company to file an IND for SNS-01, its multiple myeloma drug candidate; the development of the Company's gene technology; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs and joint ventures; the success of the Company's license agreements; the successful conversion of the Company's letter of intent into a license agreement; the acceptance by the market of the Company's products; success of the Company's preliminary studies and preclinical research; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Company Contact:
Investor Relations Contact:
Senesco Technologies, Inc.
FD
Jack Van Hulst
Brian Ritchie
Chief Executive Officer
(brian.ritchie@fd.com)
(jvanhulst@senesco.com)
(212) 850-5600
(732) 296-8400
Capstone Therapeutics Announces Compliance With Nasdaq Listing Rules for Continued Listing on The Nasdaq Capital Market
TEMPE, Ariz., March 5, 2010 (GLOBE NEWSWIRE) -- Capstone Therapeutics (the "Company") (Nasdaq:CAPS - News) today announced it received a letter on March 4, 2010 from The Nasdaq Stock Market notifying the Company that it is now in compliance with the Nasdaq Listing Rules for continued listing on The Nasdaq Capital Market.
Background
On August 8, 2008, the Company received a letter from The Nasdaq Stock Market notifying it that for the 30 consecutive business days preceding the date of the letter, the bid price of the Company's common stock had closed below the $1.00 per share minimum bid price required for continued inclusion on The Nasdaq Global Market pursuant to Nasdaq Listing Rules. To regain compliance with The Nasdaq Global Market continued listing requirements, the closing bid price of the Company's common stock needed to meet or exceed $1.00 per share for a minimum of ten consecutive business days. With extensions, the Company was granted until November 23, 2009, to regain compliance. In anticipation of not meeting the minimum bid price continued listing requirement, the Company requested and on November 16, 2009, received approval from Nasdaq to transfer the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market, and was afforded a period ending May 24, 2010 to regain compliance with the Nasdaq Listing Rules. The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as The Nasdaq Global Market. All companies listed on The Nasdaq Capital Market must meet certain financial requirements and comply with Nasdaq's corporate governance requirements. As a result of the Company's common stock closing bid price meeting or exceeding $1.00 per share for a minimum of ten consecutive business days, the Company is now in compliance with the Nasdaq Listing Rules for continued listing on The Nasdaq Capital Market.
About Capstone Therapeutics
Capstone Therapeutics (trade name of OrthoLogic Corp.) is a biotechnology company committed to developing a pipeline of novel therapeutic peptides aimed at helping patients with under-served medical conditions. The Company is focused on development and commercialization of two product platforms: AZX100 and Chrysalin(R) (rusalatide acetate or TP508).
AZX100 is a novel synthetic 24-amino acid peptide, one of a new class of compounds in the field of smooth muscle relaxation and fibrosis. Based on its demonstrated effects in pre-clinical models and safety in clinical trials, AZX100 is currently being evaluated for commercially significant medical applications such as the prevention or reduction of hypertrophic and keloid scarring, treatment of pulmonary disease and intimal hyperplasia. Capstone has an exclusive worldwide license to AZX100.
Chrysalin, the Company's novel synthetic 23-amino acid peptide, has been proven in multiple pre-clinical and clinical models to stimulate cellular events leading to angiogenesis, revascularization, and repair of dermal and musculoskeletal tissues. It is currently being evaluated in disorders that involve vascular endothelial dysfunction, such as acute myocardial infarction and chronic myocardial ischemia. The Company owns exclusive worldwide rights to Chrysalin.
Capstone's corporate headquarters are in Tempe, Arizona. For more information, please visit the Company's website: http://www.capstonethx.com/.
The Capstone Therapeutics logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5429
Statements in this press release or otherwise attributable to Capstone regarding our business that are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which include the timing and acceptability of FDA filings and the efficacy and marketability of potential products, involve risks and uncertainties that could cause actual results to differ materially from predicted results. These risks include: delays in obtaining or inability to obtain FDA, institutional review board or other regulatory approvals of pre-clinical or clinical testing; unfavorable outcomes in our pre-clinical and clinical testing; the development by others of competing technologies and therapeutics that may have greater efficacy or lower cost; delays in obtaining or inability to obtain FDA or other necessary regulatory approval of our products; our inability to successfully and cost effectively develop or outsource manufacturing and marketing of any products we are able to bring to market; changes in FDA or other regulations that affect our ability to obtain regulatory approval of our products, increase our manufacturing costs or limit our ability to market our product; effects on our stock price and liquidity if we are unable to meet the requirements for continued listing on the Nasdaq Capital Market; our need for additional capital in the future to fund the continued development of our product candidates; and other factors discussed in our Form 10-K for the fiscal year ended December 31, 2008, and other documents we file with the Securities and Exchange Commission.
Editor's Note: This press release is also available under the Investors section of the Company's website at http://www.capstonethx.com/.
Thanks for the welcome everyone!
LOL. Of course.
It might, but it had a lot of strength going into the close, my guess is that it keeps going up tomorrow...
GL.
New to the den here... Bought some CDIV today, ready to make some $$$
Senesco Announces Redemption of all Outstanding YA Global Debentures and Series A Warrants
NEW BRUNSWICK, N.J., March 4 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") (NYSE Amex: SNT) reported today the redemption of all of the outstanding convertible debentures and Series A warrants held by YA Global Investments, LP (YA Global). The redemption amount, including accrued interest, paid by Senesco to YA Global was $2,194,845.
"This transaction significantly improves our capital structure by eliminating the potential for approximately 16,000,000 shares of future dilution and, as with the recently completed Stanford agreement, should enable us to more easily identify suitable financing," said Harlan Waksal, M.D., Senesco's Chairman of the Board. "We are confident that we have taken the appropriate steps to enhance our attractiveness as an investment opportunity, and look forward to the continued development of SNS-01, our multiple myeloma drug candidate."
Senesco utilized funds secured in the recent $3 million credit facility from JMP Securities in order to complete this transaction.
About Senesco Technologies, Inc.
Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in New Brunswick, NJ. Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain inflammatory and ischemic diseases. Senesco takes its name from the scientific term for the aging of plant cells: senescence. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress. The Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products.
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the ability of the Company to consummate additional financings; the ability of the Company to file an IND for SNS-01, its multiple myeloma drug candidate; the development of the Company's gene technology; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs and joint ventures; the success of the Company's license agreements; the successful conversion of the Company's letter of intent into a license agreement; the acceptance by the market of the Company's products; success of the Company's preliminary studies and preclinical research; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Company Contact:
Investor Relations Contact:
Senesco Technologies, Inc.
FD
Jack Van Hulst
Brian Ritchie
Chief Executive Officer
(brian.ritchie@fd.com)
(jvanhulst@senesco.com)
(212) 850-5600
(732) 296-8400
24k shares are on bid @ .68. It should come back in the next 23 minutes, imo.
GL.
Hoping for a .70+ close today. The highest close this year is .69.
GLTA.
Also, the Wall Street Analyst conf. they're presenting at on March 12 might possibly get some analysts initiating coverage w/ buy ratings, IMO.
GLTA.
Picked up some more at .40
GLTA.
It shouldn't take much buying to get over $1, IMO. Level 2 looks really thin.
GLTA.
Might see $1 today, and if not, should come tomorrow, IMO.
GLTA.
New 52wk high @ .96.
GLTA.
Lots of buying today..
GLTA.
CDIV is a monster! .50+ by EOD?
Thanks!
Just took a position... Let's rock!
Nice day... Most of the biotechs we're following were up.
GLTA.
La Jolla Pharmaceutical Announces Delisting from Nasdaq and Failure to Get Stockholder Vote for Merger
La Jolla Pharmaceutical Company today announced that it received notification from the Nasdaq Hearings Panel that the Panel has determined to deny the Company’s request for continued listing on The Nasdaq stock Market and that trading of the Company's common stock will be suspended effective at the open of business on Thursday, March 4, 2010. The Panel determined that the Company is operating as a “public shell” because of the Company’s nominal assets, other than cash, and the Company’s nominal operations.
The Company also announced that holders of only thirteen percent (13%) of La Jolla’s outstanding common stock returned their proxy cards or otherwise indicated their votes with respect to proposals related to its proposed merger with Adamis Pharmaceuticals Corporation (OTCBB: ADMP), prior to the start of the stockholders’ meeting. As a result, there was no quorum to conduct the meeting. The meeting and the solicitation of further votes has been canceled due to the delisting from Nasdaq.
The Company anticipates that its common stock will be quoted on the Pink OTC Markets Inc. (the “Pink Sheets”) automatically and immediately after Nasdaq suspends trading, provided that a market maker, who has quoted the Company’s common stock in the 30 days prior to delisting, enters a quote on the Pink Sheets prior to market close on March 4, 2010. The Company's common stock may, in the future, also be quoted on the Over-the-Counter Bulletin Board maintained by the Financial Industry Regulatory Authority (“FINRA”), provided that a market maker in the common stock files the appropriate application with, and such application is accepted by, FINRA. The Company anticipates disclosing further trading venue information for its common stock once such information becomes available. The trading symbol of the Company's common stock will continue to be "LJPC".
A Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq.
HSKA on fire today... Picked up some more @ 0.87
GLTA.
New 52wk high @ .92
GLTA.
IMO, it's due to people realizing that it's worth a lot more than .80. They are profitable as well. And, the presentations don't hurt much either.
GL.