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WTG Swami Have a great weekend.
One more favorite URE.T - Here is a 3 mo. daily chart
Another favorite DJE.V - Here is a weekly chart
Still like NWI.T - Here is a weekly chart
Here is NVAX on a weekly chart over a few years
Check out HEB its a Canadian company on the US NY exchange - also bird flu.
RBM.v and US HEB - Which is a cdn co on the us exchange. I also like the US emfp - Face masks, etc. They can't make them fast enough. Great story. The ones in this list may have more, I haven't checked them all out. Happy hunting.
MS-T NR today 62.9M at 2.45
BioMS Medical loses $15.8-million in 2005
2006-02-17 11:55 ET - News Release
Mr. Kevin Giese reports
BIOMS MEDICAL ANNOUNCES 2005 YEAR-END RESULTS
BioMS Medical Corp. is releasing its fourth quarter and year-end results for the year ended Dec. 31, 2005.
Highlights for 2005:
accelerated enrolment of patients in the pivotal phase II/III clinical trial for secondary progressive MS (SPMS), including completion of the enrolment of a cohort of 100 patients who undertook an extensive safety protocol;
expanded the pivotal trial into sites across Canada, the United Kingdom and Sweden, significantly adding to patient enrolment;
received repeated positive reviews from the trial's data safety monitoring board; and
raised $41-million from institutions in Canada and Europe.
"In 2005, BioMS built great momentum towards unlocking the potential of MBP8298. Further to the initiation of our pivotal phase II/III trial in 2004, we expanded the trial into Europe and raised more than $41-million to support our drug development efforts. Our key objectives for 2006, are to complete enrolment of our trial and to advance our U.S. regulatory strategy," said Kevin Giese, president of BioMS Medical. "Beyond SPMS, in 2006, we intend to seek clearance to initiate an additional trial in a second MS indication to determine the efficaciousness of MBP8298 within another significant group of MS patients. We also plan to continue to advance the other candidates in our pipeline, which include HYC750 and our investment in BioCydex."
Financial highlights
The consolidated net loss for the year ended Dec. 31, 2005, was $15.8-million, or 26 cents per share, compared with a consolidated net loss of $12.5-million, or 24 cents per share, for the previous year.
Total consolidated expenses for the year ended Dec. 31, 2005, were $16.9-million, compared with $12.9-million in the previous year. Research and development expenses totalled $10.6-million, compared with $7.3-million in 2004. General and administrative expenses increased to $4.8-million, compared with $4.1-million in 2004. Research and development expenses increased due primarily to the increased number of patients being enrolled in the pivotal phase II/III clinical trial for MBP8298. General and administrative expenses increased as a result of a general increase in the overall activity of the company.
Investment income totalled $1.2-million for the year ended Dec. 31, 2005, compared with $400,000 for the previous year.
In the quarter ended Dec. 31, 2005, the corporation incurred a loss of $6.5-million, or 10 cents per share, compared with a loss of $3.5-million, or seven cents per share, in the fourth quarter of 2004. Research and development expenses increased to $4.6-million in the fourth quarter of 2005, compared with $1.9-million in the fourth quarter of 2004. General and administrative expenses increased to $1.8-million in the fourth quarter of 2005, from $1.4-million in the fourth quarter of 2004.
Investment income was $200,000 in the fourth quarter of 2005, compared with $86,000 in the fourth quarter of 2004.
As at Dec. 31, 2005, cash and short-term investments totalled $38.0-million, compared with $14.4-million at Dec. 31, 2004. At Dec. 31, 2005, the corporation had working capital of $37.2-million, compared with $13.9-million at Dec. 31, 2004.
We seek Safe Harbor.
WXI-T Sedar & NR today 35M at 1.80
Wex Pharmaceuticals loses $5.79-million in Q3
2006-02-16 09:23 ET - News Release
Mr. Don Evans reports
WEX REPORTS THIRD QUARTER RESULTS
Wex Pharmaceuticals Inc. has provided highlights and financial results for the three and nine months ended Dec. 31, 2005.
Third quarter highlights
Dr. Edge Wang was named president and chief executive officer of the company.
The company completed enrolment and dosing of 50 per cent of the patients in the Tectin phase IIb/III clinical study. The company is preparing an interim analysis which is expected to be completed in March, 2006.
The company announced the preliminary results of its Chinese phase IIa clinical trial of Tectin. There were no serious adverse side effects reported at any dose level. The results seem to demonstrate an efficacy optimal dose similar to that identified within the Canadian development.
The company received a positive response from the U.S. Food and Drug Administration (FDA) in regard to the chemistry, manufacturing and controls (CMC) section of its upcoming investigational new drug application (IND) dossier for Tectin. The FDA indicated that it has no concerns with the CMC at this time and now the company will move ahead with an IND filing in the United States.
Simon Anderson and Dr. Howard Cohen joined the board of directors to replace Michael Chen, who had resigned, and Dr. Phil Gold, who had stepped down and will serve the company as a member of the scientific advisory board.
Subsequent event
On Jan. 26, 2006, the company held a special shareholders meeting to vote on two resolutions brought forward by a shareholder. During the meeting Frank (Hay Kong) Shum and Donna Shum were removed as directors of the company and Benjamin Chen, Pierre Cantin and A.J. Miller were elected as directors to replace Mr. Shum and Ms. Shum and to fill the vacancy which resulted from Kenneth Li's resignation. The shareholder's proposal on the creation of a royalty trust was defeated.
Financial results -- unaudited
For the three months ended Dec. 31, 2005, the company recorded a loss of $5,794,556 (17 cents per common share) compared with a loss of $4,502,411 (13 cents per common share) in the three months ended Dec. 31, 2004. The increase in loss for the three months ended Dec. 31, 2005, is mainly attributable to increased clinical trial costs, legal costs related to the special shareholder meeting held on Jan. 26, 2006, and a non-cash expense of $830,516 due to a revaluation resulting from the amendments of the payment terms of the debentures now requiring full repayments up to Dec. 31, 2007.
The company recorded a loss for the nine months ended Dec. 31, 2005, of $13,427,026 (38 cents per common share) compared with a loss of $10,231,725 (32 cents per common share) in the nine months ended Dec. 31, 2004. The increase in loss for the nine months ended Dec. 31, 2005, when compared with the preceding period, is attributable to the large increase in clinical trial costs, legal costs and the non-cash expenses for the settlement of debentures.
Management expects losses to continue during the coming quarters as it continues to focus resources on clinical trials in an effort to further the commercialization of Tectin.
The company had cash, cash equivalents and short term investments of $12,157,952 as at Dec. 31, 2005, as compared with $20,814,464 as at March 31, 2005. Working capital as at Dec. 31, 2005, was $7,692,361 as compared with $22,014,096 as at March 31, 2005. The company is planning a new financing to strengthen its financial position.
CONSOLIDATED STATEMENT OF OPERATIONS
AND DEFICIT
Three months ended Dec. 31
2005 2004
Revenue
Product sales $97,751 $126,467
Licence fees 46,944 79,135
----------- -----------
144,695 205,602
Cost of goods
sold --
product sales (74,152) (73,837)
----------- -----------
70,543 131,765
Expenses
Research and
development 3,588,768 2,750,838
General and
admin -- 1,106,572 1,354,351
----------- -----------
Amortization 280,386 180,772
----------- -----------
4,975,726 4,285,961
----------- -----------
Operating
(loss) (4,905,183) (4,154,196)
Other
expenses
(income)
Interest and
sundry income (102,276) (116,541)
Debenture
interest
expense 173,476 178,627
Convertible
debentures
settlement 830,516 -
Foreign
exchange
(gain) or
loss (12,343) 286,129
----------- -----------
889,373 348,215
----------- -----------
(Loss) for
the period $(5,794,556) $(4,502,411)
=========== ===========
(Deficit),
beginning of
period $(53,277,920) $(39,710,103)
Equity
component of
convertible
debentures
settlement 1,607,424 -
----------- -----------
(Deficit),
end of
period $(57,465,052) $(44,212,514)
=========== ===========
Basic and
diluted (loss)
per common
share $(0.17) $(0.13)
CONSOLIDATED STATEMENT OF OPERATIONS
AND DEFICIT
Nine months ended Dec. 31
2005 2004
Revenue
Product sales $351,057 $426,680
Licence fees 140,833 237,405
----------- -----------
491,890 664,085
Cost of goods
sold --
product sales (271,972) (263,759)
----------- -----------
219,918 400,326
Expenses
Research and
development 7,891,113 5,439,824
General and
admin -- 3,751,202 3,967,066
----------- -----------
Amortization 718,565 538,390
----------- -----------
12,360,880 9,945,280
----------- -----------
Operating
(loss) (12,140,962) (9,544,954)
Other
expenses
(income)
Interest and
sundry income (296,620) (296,072)
Debenture
interest
expense 502,364 383,190
Convertible
debentures
settlement 830,516 -
Foreign
exchange
(gain) or
loss 249,804 599,653
----------- -----------
1,286,064 686,771
----------- -----------
(Loss) for
the period (13,427,026) $(10,231,725)
=========== ===========
(Deficit),
beginning of
period (45,645,450) $(33,980,789)
Equity
component of
convertible
debentures
settlement 1,607,424 -
----------- -----------
(Deficit),
end of
period $(57,465,052) $(44,212,514)
=========== ===========
Basic and
diluted (loss
per common
share $(0.38) $(0.32)
We seek Safe Harbor.
ANP-T NR today 84M at 18.29
Angiotech starts paperwork on American Medical deal
2006-02-16 09:39 ET - News Release
Mr. Todd Young reports
ANGIOTECH FILES HART-SCOTT-RODINO NOTIFICATION FOR AMI ACQUISITION
Angiotech Pharmaceuticals Inc. has filed notification with the U.S. Department of Justice and the Federal Trade Commission of its intention to acquire privately held American Medical Instruments Holdings Inc. (AMI), in compliance with the premerger notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. AMI also filed its notification today.
On Feb. 1, 2006, Angiotech reported in Stockwatch that it had entered into a definitive agreement to acquire AMI for $785-million in cash.
The acquisition of AMI significantly enhances and diversifies Angiotech's revenue base and gives the company global manufacturing, marketing and sales capabilities. A strongly managed company, AMI has global operations in 12 locations and four countries, including over 550,000 square feet of modern manufacturing operations.
We seek Safe Harbor.
HEB NR today
3 New Studies Show Hemispherx Biopharma's Ampligen(R) and Alferon(R) LDO May Provide Defense against Avian Flu
2006-02-16 08:30 ET - News Release
PHILADELPHIA -- (Business Wire) -- Feb. 16, 2006
Company Website: http://www.hemispherx.net
Hemispherx Biopharma, Inc. (AMEX: HEB):
-- Tests Indicate Potential of Ampligen(R) As Vaccine Adjuvant,
Boosts Existing Drugs Tamiflu(R), Relenza(R) Up To 100 Times;
Alferon(R) LDO Found to Stimulate Production of Interferon,
Offering Natural Defense Against Virus
-- Consortium of Researchers to Present Findings at Today's ASM
Biodefense Research Meeting in Washington, D.C.
Hemispherx Biopharma, Inc. (AMEX: HEB), a leader in the clinical
development and production of new drug entities for the treatment of
viral and immune-based chronic disorders, today unveiled the results
of laboratory testing that shows its two investigational
immunotherapeutics, Ampligen(R) and Alferon(R), are potentially useful
against the H5N1, or avian flu, virus. The pre-clinical research
indicates that Ampligen(R), a specifically configured double-stranded
RNA, can provide cross-protection against avian flu viral mutations as
well as boost the effectiveness of Tamiflu and Relenza, the only two
drugs formally recognized for combating bird flu, up to 100 times.
Other lab tests, in healthy human volunteers, indicate that Alferon(R)
LDO (Low-Dose Oral), a new delivery form of an anti-viral with prior
regulatory approval for a category of sexually transmitted diseases,
can stimulate genes that induce the production of interferon and other
immune compounds, key building blocks in the body's defense system.
Hemispherx Biopharma and collaborating government scientists are
presenting detailed findings at today's American Society for
Microbiology Biodefense Research Meeting in Washington, DC.
The results of an animal study conducted by Dr. Hideki Hasegawa,
M.D., Ph.D., Chief, Laboratory of Infectious Disease Pathology at the
National Institute of Infectious Diseases in Tokyo, reveal that
Ampligen(R) boosts IgA antibody levels by up to 500% when
co-administered with vaccine--the exact antibodies that protect
mucosal membranes of the nose and mouth, the specific entry points of
an invading avian flu virus. In the course of the research, animals
that were internasally administered with the vaccine Ampligen(R)
registered an increase in antibodies that could fight the deadly
virus. Some 80% of the Ampligen(R)-treated mice survived the virus's
onslaught, while none survived in a corresponding placebo group.
"As indicated in earlier peer-review reports, double-stranded RNA
proved to be the most effective adjuvant for our nasal vaccine, and
our new research reveals that Ampligen(R) is the only non-toxic dsRNA
that's applicable to humans," said Dr. Hasegawa. "In addition, the
alternative method of delivery used in this study--nasal mist--also
has potential value. The tests suggest that not only does Ampligen(R)
have the potential to be an effective therapy against the virus by
itself, but also that the nasal mist method is far more economical,
requiring only 1/20th of the injection dosage. This means we can
substantially expand the supply and availability of this drug, and
treat more people quickly and effectively."
Independent lab research conducted at Utah State University under
U.S. National Institutes of Health (NIH) sponsorship indicates that
Ampligen(R) increases the efficacy of the two viral uptake inhibitors,
Tamiflu and Relenza. The lab studies suggest that 50 to 100 times less
Tamiflu may be used in conjunction with the experimental
immunotherapeutic Ampligen(R) to achieve full inhibition with no
multiplication of the virus, and no host cell damage. This may be a
critical factor not only because of the potential shortage of Tamiflu,
but also because 18% of all children are resistant to Tamiflu at
conventional doses (as reported in the New England Journal of
Medicine, December 2005). The effect was found be even stronger with
Relenza (up to 500-fold potentiation) in the lab experiments.
The experimental immunotherapeutic Alferon(R) N Injection is
derived from an FDA-approved treatment for the Human papillomavirus
(HPV, or genital warts). Hemispherx Biopharma has developed an oral
delivery format for the product that requires much lower doses, called
Alferon(R) LDO; new tests conducted in collaboration with the
Cleveland Clinic suggest it may stimulate a large bank of anti-viral
immune genes that may control the body's production of interferon and
thereby potentially fight a wide range of diseases, including avian
flu.
"This is the race we have to win--to sufficiently mobilize the
interferon system early enough so that it will knock out the virus
multiplication," said Professor Luc Montagnier, President of the
Foundation for AIDS Research and Prevention, who is widely credited
with discovering the AIDS virus, HIV. "I believe that in addition to
the anti-viral effect, Alferon(R) LDO will mobilize another important
component of innate immunity, cells able to eliminate infected cells.
It will act both on the native avian virus and on its humanized form."
Results from Phase 1/Phase 2 clinical trials in healthy
volunteers, being conducted at the Princess Margaret Hospital in Hong
Kong indicate that Alferon(R) LDO may strengthen human immune
responses via interferon-activated genes, potentially staving off
infection should an individual be thereafter exposed to the virus. By
priming the body's own interferon pump, Alferon(R) LDO might enable an
infected host to produce enough interferon to overcome the virus. The
studies being reported today include specific markers of immune
response following exposure to Alferon(R) LDO in the absence of any
viral exposure.
"Given the potential for a pandemic, these results may have
significant implications for control of the avian flu virus," said
William A. Carter, M.D., Chairman and CEO of Hemispherx Biopharma. "In
relevant animal models and human volunteer studies, both experimental
immunotherapeutics, Ampligen(R) and Alferon(R) LDO may trigger the
production of novel defense products as part of the body's immune
system. Therefore, we are encouraged that these experimental
immunotherapeutics represent a significant new path forward in
potential preparation against the global spread."
Hemispherx Biopharma intends to file a new drug application (NDA)
for Ampligen(R) as a treatment for Chronic Fatigue Syndrome later this
year. Since Alferon(R) N Injection is already FDA-approved, Hemispherx
Biopharma would file various amendments globally to its existing
approval licenses, reflecting a different method of delivery and
different efficacy data on any potentially new therapeutic
applications, including avian flu.
About Hemispherx Biopharma
Hemispherx Biopharma, based in Philadelphia, is a
biopharmaceutical company engaged in the manufacture and clinical
development of new drug entities for treatment of viral and
immune-based chronic disorders. Hemispherx Biopharma's flagship
products include Alferon(R) and the experimental
immunotherapeutics/antivirals Ampligen(R) and Oragens(TM). Alferon(R)
is approved for a category of STD infection, and Ampligen(R) and
Oragens(TM) represent experimental nucleic acids being developed for
globally important viral diseases and disorders of the immune system.
Hemispherx's platform technology includes large and small agent
components for potential treatment of various chronic viral
infections. Hemispherx has in excess of 140 patents comprising its
core intellectual property estate, a fully commercialized product
(Alferon(R) N) and GMP certified manufacturing facilities for its
novel pharma products. For more information please visit
www.hemispherx.net
www.hemispherx.net
Information contained in this news release other than historical
information, should be considered forward-looking and is subject to
various risk factors and uncertainties. For instance, the strategies
and operations of Hemispherx involve risk of competition, changing
market conditions, change in laws and regulations affecting these
industries and numerous other factors discussed in this release and in
the Company's filings with the Securities and Exchange Commission. Any
specifically referenced investigational drugs and associated
technologies of the company (including Ampligen(R), Alferon(R) LDO and
Oragens) are experimental in nature and as such are not designated
safe and effective by a regulatory authority for general use and are
legally available only through clinical trials with the referenced
disorders. The forward-looking statements represent the Company's
judgment as of the date of this release. The Company disclaims,
however, any intent or obligation to update these forward-looking
statements. Clinical trials for other potential indications of the
approved biologic Alferon(R) do not imply that the product will ever
be specifically approved commercially for these other treatment
indications.
Contacts:
Hemispherx Biopharma, Inc.
Dianne Will, 518-398-6222
ir@hemispherx.net
or
Media:
Neale-May & Partners
Digs Majumder, 212-213-5400 x 206
digs@nealemay.com
NWI-T NR today 105M at .29
Nuinsco finds 57.7 ppm U3O8 at Diabase Peninsula
2006-02-16 10:32 ET - News Release
Mr. W. Warren Holmes reports
NUINSCO ENCOURAGED BY PRELIMINARY DRILLING RESULTS ON ITS SASKATCHEWAN DIABASE PENINSULA URANIUM PROPERTY
Nuinsco Resources Ltd.'s initial drilling has intersected local anomalous uranium mineralization of up to 57.7 parts per million U3O8 at and near the unconformity beneath the sediments of the Athabasca basin. Drill core sampling shows other enrichments including boron, potassium and normative corundum as well as locally bleached sandstone and clay alteration. These characteristics indicate the passage of high-temperature fluids through the rock and are typical of unconformity-type uranium mineralization. Drilling continues on the property in this initial program. Nuinsco is the operator of the 21,900-hectare project, holds an option to earn a 50-per-cent interest from Trend Mining Co. of Denver, Colo., and will be vested before the end of the current drilling program.
"We are very pleased with the progress and encouraged by these early results, which add to our knowledge of the project and support earlier geophysical surveys and boulder sampling. The presence of anomalous uranium in drill holes only enhances the exploration potential. It is a large property, so it is most encouraging to get positive results early in the drilling program," said Brian E. Robertson, president.
Diamond drilling at Diabase Peninsula is testing the local geology for geochemical and geophysical signatures indicating that uranium mineralizing processes were active. Five holes have been completed to date totalling 2,422 metres. Geochemical analyses are being performed by SRC Laboratory of Saskatoon, Sask. The holes have targeted particularly low-resistivity anomalies occurring within a persistent five-kilometre-long ground TEM geophysical response that is interpreted to be caused by conductive minerals within the regionally significant Cable Bay shear zone; this structure is interpreted to underlie the entire Diabase Peninsula property for 35 kilometres from north to south, so the current program is only the initial step in Nuinsco's work to identify a significant resource here. Local boulder clay alteration and trace element anomalies also occur; alteration of the type identified at the Diabase Peninsula occurs near known unconformity uranium mineralization in the eastern Athabasca basin.
These preliminary drill holes have tested ground TEM resistivity anomalies over 3.8 kilometres at wide spacings of between 400 metres and 1,000 metres. All holes have attained the unconformity beneath Athabasca sediments. Basement rocks consist of deformed biotitic metasediments containing graphite and sulphide with local granitoid elements as well. Sampling and sample processing is at a very early stage.
The 21,900-hectare Diabase Peninsula property encompasses coincident, highly prospective alteration and geophysical signatures which are indicative of possible uranium mineralization. Located on the western shore of Cree Lake approximately five kilometres north of the southern boundary of the Athabasca basin, the Diabase Peninsula property overlies the graphite-bearing Cable Bay shear zone; this structure is considered to be an important potential host for uranium mineralization in this part of the Athabasca basin. Further, the coincident geophysical and geochemical trends presently define a five-kilometre domain at the centre of the claim group. This trend is coincident with an airborne electromagnetic anomaly at least 35 kilometres in length, identified in a propertywide survey conducted in August, 2005. The airborne response extends the full length of the property from north to south and possibly identifies the presence and locus of the Cable Bay shear zone. Combined, these signatures provide compelling drill targets at Diabase Peninsula.
The project is being supervised by P.L. Jones, vice-president of exploration for Nuinsco, who acts as qualified person under National Instrument 43-101.
We seek Safe Harbor.
VIR.t NR today 58M at 1.43
ViRexx Medical raises $12-million privately
2006-02-16 08:49 ET - News Release
Dr. Lorne Tyrrell reports
VIREXX COMPLETES $12 MILLION PRIVATE PLACEMENT
ViRexx Medical Corp. has closed a brokered private placement equity financing which will result in the issuance of 10,909,090 units at a price of $1.10 per unit for gross proceeds to the company of $12-million. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share of ViRexx at a price of $1.50 for a period of two years from the date of issuance.
"This transaction strengthens our balance sheet as we approach important milestones for our earlier stage product pipeline, specifically the completion of our phase I Occlusin 50 injection trial and initiation of the phase I HepaVaxx B trial. The proceeds will help fund these clinical trials," commented Dr. Lorne Tyrrell, chief executive officer of ViRexx Medical. "Our late stage OvaRex MAb product, which is currently in phase III trials, continues to be funded by our partner, United Therapeutics."
In compliance with the Toronto Stock Exchange and AMEX policies, ViRexx held a special meeting of the shareholders in Edmonton on Feb. 6, 2006, and obtained majority shareholder approval for the private placement.
Under the broker agreement, a cash commission of 7 per cent of the gross proceeds is payable to the agents. In addition, the agents received 1,090,909 broker warrants equal to 10 per cent of the total number of units purchased pursuant to the private placement. Each broker's warrant entitles the agent to purchase one common share of ViRexx at a price of $1.50 for a period of two years from the date of issuance. The shares comprising the units and the underlying shares which will be issued on exercise of the warrants including brokers' warrants are subject to a four-month hold period commencing Feb. 15, 2006.
We seek Safe Harbor.
LOR.t NR today 173M at .39
Lorus withdraws from proposed tax-assisted financing
2006-02-16 08:08 ET - News Release
Ms. Grace Tse reports
LORUS PROVIDES CORPORATE UPDATE
Lorus Therapeutics Inc. will not be proceeding with a tax-assisted financing as previously reported in Stockwatch Jan. 17, 2006, as certain conditions precedent to the closing of the transaction have not been met.
We seek Safe Harbor
DDS.T NR today 43M at 8.50
Labopharm loses $33.3-million in 2005
2006-02-16 08:35 ET - News Release
Mr. Warren Whitehead reports
LABOPHARM REPORTS RESULTS FOR FOURTH QUARTER FISCAL 2005
Labopharm Inc. has released its results for the fourth quarter of fiscal 2005 ended Dec. 31, 2005.
"The fourth quarter was the culmination of a year of tremendous accomplishment for our company, including the commercial launch of our once-daily tramadol product in Europe and generation of our first revenue from product sales, the submission of our NDA to the FDA, and the securing of a strong partner for our product in the United States," said James R. Howard-Tripp, president and chief executive officer, Labopharm. "We are very pleased with the initial reception of our product in the German marketplace by physicians and patients and our partner, Hexal, is actively promoting and selling the product. For 2006, we are focused on extending the launch of our product throughout Europe. In the U.S., we are working with our marketing partner, Purdue Pharma Products L.P., to prepare for the U.S. launch of our product as rapidly as possible should our product receive regulatory approval. In addition, Labopharm will continue to pursue regulatory approval and marketing partnerships in other key markets around the world to capitalize fully on this significant global opportunity."
Key developments for the fourth quarter:
launched once-daily tramadol product in Europe -- Labopharm's marketing partner for Germany, Hexal AG, launched the company's once-daily tramadol product in that country under the brand name Tramadolor einmal taeglich;
submitted NDA (new drug application) for once-daily tramadol in U.S. -- Labopharm submitted an NDA to the U.S. Food and Drug Administration (FDA) for its once-daily formulation of tramadol. Subsequent to quarter end, the NDA was accepted for review and filed by the FDA, with a PDUFA date of Sept. 28, 2006;
partnered with Recordati to commercialize once-daily tramadol in the United Kingdom -- Labopharm completed a licensing and distribution agreement for its once-daily tramadol product for the United Kingdom with Recordati;
finalized licensing and distribution agreement for France -- Labopharm finalized its licensing and distribution agreement with sanofi-aventis for its once-daily tramadol product for France;
received regulatory approval for once-daily tramadol in Mexico -- Labopharm's once-daily tramadol product received regulatory approval from the national regulatory authority in Mexico. The product was approved as a once-daily product for the treatment of moderate to severe pain, including both acute and chronic conditions. The company is continuing active discussions with potential marketing partners for Mexico; and
partnered with GlaxoSmithKline to commercialize once-daily tramadol in Latin America -- Labopharm completed a licensing and distribution agreement for its once-daily tramadol product for 20 Latin American and Caribbean countries with GlaxoSmithKline (GSK), bringing the number of countries for which the company has secured marketing partners for its product to 43.
Developments subsequent to quarter end:
added second marketing partnership for once-daily tramadol for France -- Labopharm added a second marketing partnership for its once-daily tramadol product for France, signing a licensing and distribution agreement with Grunenthal GmbH. Combined, Labopharm's partners for France are responsible for almost 90 per cent of existing tramadol product sales in that country.
Financial results
During fiscal 2005, Labopharm generated $1.3-million in revenue from product sales and $30.0-million in cash related to upfront and milestone payments associated with licensing and distribution agreements for its once-daily tramadol product. In accordance with Canadian generally accepted accounting principles (GAAP), the company was only able to recognize $1.9-million of the cash payments from the licensing and distribution agreements as licensing revenue, with the remainder recorded as deferred revenue. The deferred revenue, as well as additional future milestone payments, will be recognized as revenue over the term for which Labopharm maintains substantive contractual obligations.
Cash, cash equivalents and investments (including accrued interest) as at Dec. 31, 2005, were $36.2-million compared with $25.1-million as at Dec. 31, 2004. The increase is primarily the result of the $23.1-million ($20-million (U.S.)) upfront licensing fee from Purdue Pharma Products L.P., licensing payments from Hexal AG, sanofi-aventis and Recordati totalling $6.9-million, and cash proceeds of $12.3-million from the debt financing in June, 2005.
Revenue for the fourth quarter of fiscal 2005 was $2.4-million, compared with $1.0-million for the fourth quarter of fiscal 2004. The increase was the result of higher licensing revenue, primarily related to the company's agreement with Purdue Pharma Products L.P., as well as the contribution from company's first sales of once-daily tramadol to Hexal AG, which totalled $1.3-million.
Research and development expenses (net of tax credits) for the fourth quarter of fiscal 2005 were $7.1-million compared with $4.9-million for the fourth quarter of fiscal 2004. The increase was primarily the result of costs related to the continuing U.S. phase III clinical trial for once-daily tramadol. Selling, general and administrative expenses for the fourth quarter of fiscal 2005 were $4.1-million compared with $2.3-million for the fourth quarter of fiscal 2004. The increase was attributable to higher variable compensation expenses and to the additional resources required to support the successful commercialization of the company's once-daily tramadol product in Europe. Financial expenses for the fourth quarter of fiscal 2005 were $800,000, compared with $200,000 for the fourth quarter of fiscal 2004. The increase was primarily attributable to interest expenses related to the term loan agreement that the company entered into in June, 2005.
Net loss for the fourth quarter of fiscal 2005 was $11.1-million, or 26 cents per share, compared with $6.6-million, or 16 cents per share, for the fourth quarter of fiscal 2004.
For fiscal 2005, revenue was $3.2-million compared with $1.4-million for fiscal 2004. The increase was primarily the result of higher licensing revenue for fiscal 2005, which included recognition of $1.9-million in payments received from Purdue Pharma Products L.P., Hexal AG, Gruppo Angelini and Esteve S.A. under the company's licensing and distribution agreements for once-daily tramadol. The increase is also the result of the company's first sales of once-daily tramadol to Hexal AG, which totalled $1.3-million.
Research and development expenses (net of tax credits) for fiscal 2005 were $19.7-million compared with $15.2-million for fiscal 2004. The increase was primarily the result of higher costs related to the continuing U.S. phase III clinical trial for once-daily tramadol, costs related to the submission of the NDA for once-daily tramadol, and costs associated with manufacturing process optimization.
Selling, general and administrative expenses for fiscal 2005 were $12.2-million compared with $9.9-million for fiscal 2004. The increase was primarily the result of additional human resources to support the successful commercialization of once-daily tramadol globally, including launch in Europe, as well as other compensation expenses, and higher professional and consulting fees.
Net loss for fiscal 2005 was $33.3-million, or 78 cents per share, compared with $27.2-million, or 68 cents per share, for fiscal 2004.
Conference call
Labopharm will host a conference call today (Thursday, Feb. 16, 2006, at 8:30 a.m. ET) to discuss its fourth quarter fiscal 2005 results. To access the conference call by telephone, dial 416-644-3428 or 1-800-814-4941. Please connect approximately five minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay until Thursday, Feb. 23, 2006, at midnight. To access the archived conference call, dial 416-640-1917 or 1-877-289-8525 and enter the reservation No. 21173669 followed by the number sign. A live audio webcast of the conference call will be available at the company website. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the company website for 30 days.
A live audio webcast of the conference call will be available at the company website. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the company website for 90 days.
CONSOLIDATED STATEMENT OF OPERATIONS
Three months ended Dec. 31
(in thousands of dollars)
2005 2004
Revenue
Product sales $ 1,269 $ -
Cost of goods sold 758 -
------- ------
Gross profit on
product sales 511 -
Other revenue
Licensing 1,146 70
Research and
development contracts - 900
------- ------
1,657 970
------- ------
Expenses
Research and
development expenses 8,193 5,113
Government assistance (1,130) (256)
------- ------
7,063 4,857
Selling, general and
admin expenses 4,055 2,329
Financial expenses 769 238
Depreciation and
amortization 429 439
Interest income (210) (157)
Foreign exchange gain (322) (105)
Expenses related to an
incomplete financing
initiative - -
------- ------
11,784 7,601
------- ------
(Loss) before
income taxes (10,127) (6,631)
Income taxes
Current 940 -
------- ------
Net (loss) for
the period ($11,067) ($6,631)
======= ======
Net (loss) per share,
basic and diluted (0.26) (0.16)
CONSOLIDATED STATEMENT OF OPERATIONS
Year ended Dec. 31
(in thousands of dollars)
2005 2004
Revenue
Product sales $ 1,269 $ -
Cost of goods sold 758 -
------- -------
Gross profit on
product sales 511 -
Other revenue
Licensing 1,908 106
Research and
development contracts 61 1,288
------- -------
2,480 1,394
------- -------
Expenses
Research and
development expenses 22,451 16,037
Government assistance (2,713) (823)
------- -------
19,738 15,214
Selling, general and
admin expenses 12,188 9,878
Financial expenses 1,937 864
Depreciation and
amortization 1,664 1,662
Interest income (557) (538)
Foreign exchange gain (355) (57)
Expenses related to an
incomplete financing
initiative - 1,509
------- -------
34,615 28,532
------- -------
(Loss) before
income taxes (32,135) (27,138)
Income taxes
Current 1,199 41
------- -------
Net (loss) for
the period ($33,334) ($27,179)
======= ======
Net (loss) per share,
basic and diluted (0.78) (0.68)
We seek Safe Harbor.
PTI.T NR from 01/30 92M at 7.46
Globe/CP say Patheon shares surge on Merck deal
2006-01-30 08:25 ET - In the News
The Globe and Mail reports in a Canadian Press dispatch Saturday shares in Canadian drug maker Patheon soared Friday. The unbylined item says the surge came a day after the company said it struck a five-year deal with global drug giant Merck & Co. Inc. to produce drugs and deliver research services. Patheon stock rose $1.34 to $7.46 on the Toronto Stock Exchange. The two companies announced late Thursday they had signed a deal under which Patheon will provide German-based Merck with commercial manufacturing and pharmaceutical development services as a strategic partner to the U.S. company. Patheon will handle three new drug projects at its operations in Puerto Rico, Cincinnati and regional operations just west of Toronto. Patheon is a global provider of drug development and manufacturing services to global drug makers. The deal with Merck was announced after the close of stock trading Thursday.
Thanks. I will add PTI.to to the header. The NR 's come from Stockwatch. Glad I could help.
ANP.T NR today 84M at 17.45
Angiotech's Taxus Liberte gets French refund approval
2006-02-15 12:13 ET - News Release
Mr. Todd Young reports
ANGIOTECH PARTNER ANNOUNCES FRENCH REIMBURSEMENT FOR TAXUS(R) LIBERTE(TM) PACLITAXEL-ELUTING CORONARY STENT SYSTEM
Angiotech Pharmaceuticals, Inc.'s corporate partner, Boston Scientific (BSC), has received reimbursement approval from the French government for its Taxus Liberte paclitaxel-eluting coronary stent system -- the world's first next-generation drug-eluting stent system. The announcement was published yesterday in the official journal of the French government, Journal Officiel de la Republique Francaise.
As a result of this announcement, the Taxus Liberte stent system will now be available to patients with coronary artery disease treated in private and public hospitals throughout France.
"Until now, many French patients suffering from coronary artery disease were unable to benefit from the Taxus Liberte stent system due to the lack of reimbursement," said Dr. Philippe Brunel, interventional cardiologist at the Nouvelles Cliniques Nantaises, Nantes, France. "The Taxus Liberte stent system offers cardiologists and patients benefits due to its superior deliverability in addition to the proven long-term efficacy of the Taxus system. Patients with complex and small vessel disease will particularly benefit from these advanced features."
"The Taxus Liberte stent system is specifically designed to improve deliverability and conformability for state-of-the-art clinical stent performance, which will help further improve clinical outcomes," said Jeff Goodman, president of international for Boston Scientific. "These features should help substantially reinforce the market leadership position of the Taxus stent system in France."
The Taxus Liberte stent system is the world's first next-generation drug-eluting coronary stent system to incorporate a next-generation stent platform. It is specifically designed for drug delivery and received CE Mark approval in Europe in September, 2005.
BSC has a strong record of excellence in drug-eluting stents, supported by a wealth of clinical trial data on the safety and efficacy of the Taxus stent systems. Recent results from the Taxus I (four years), Taxus II (three years), Taxus IV (three years) and Taxus VI (two years) studies have demonstrated excellent long-term safety and efficacy with a sustained and robust benefit. Early data from the Atlas clinical trial and Olympia registry confirmed the safety profile of the Taxus Liberte stent system.
France has one of the lowest rates of coronary artery disease in Europe, however 28 per cent of deaths in French men and 34 per cent of deaths in French women are still attributed to this disease. The majority of patients are treated with percutaneous coronary intervention; more than 165,000 stents are implanted annually in private and public French hospitals. Currently, half of the stents used in France are drug-eluting stents such as the Taxus Liberte stent system.
BSC acquired worldwide exclusive rights from Angiotech to use paclitaxel to coat its coronary stent products and has co-exclusive rights to other vascular and non-vascular products.
We seek Safe Harbor.
QLT-T NR today 91M at 7.52
Van Sun/CP say QLT ends trial for prostate drug
2006-02-15 09:10 ET - In the News
The Vancouver Sun reports in a Canadian Press dispatch QLT said Tuesday a key trial of its treatment for an enlarged prostate failed to show any improvement. CP's Craig Wong writes it will not go ahead with phase 3 trials of the drug. The company said its lemuteporfin injectable therapy in patients with benign prostatic hyperplasia "did not meet the study's primary efficacy objective at three months." QLT said there was no significant difference between patients receiving the treatment and control groups. "The preliminary result of this trial does not support initiation of phase 3 clinical trials of lemuteporfin in BPH at this time," said Bob Butchofsky, acting chief executive officer of QLT. The announcement comes as the company tries to refocus in the wake of a string of setbacks. Investors pushed the stock from Monday's close of $7.60 in Toronto to a high of $7.80 Tuesday, before it closed back down at $7.52. In a research note on the development, UBS Investment Research suggested it would have little impact on the company's performance. That is because lemuteporfin was in such early stages. QLT plans to discuss the matter next Wednesday at its investor conference call.
MS-T NR today 62M at 2.44
BioMS secures two long-term MBP8298 deals
2006-02-15 09:36 ET - News Release
Mr. Tony Hesby reports
BIOMS MEDICAL SECURES LONG-TERM MANUFACTURING AGREEMENTS FOR MULTIPLE SCLEROSIS DRUG
BioMS Medical Corp. has secured long-term manufacturing agreements with two global companies, UCB-Bioproducts and Hospira Worldwide Inc., for its lead MS drug MBP8298.
Under the terms of the agreements, UCB-Bioproducts will continue to manufacture the MBP8298 bulk drug and Hospira will fill and finish the drug product into vials for use in patients. These contracts contemplate these companies providing their services through the current pivotal clinical trial for MBP8298 and into commercial production.
"These agreements emphasize our commitment to bring a quality, first-in-class therapeutic to MS patients and are important to the success of the anticipated future launch of MBP8298 into the marketplace," said Kevin Giese, president of BioMS Medical. "Both UCB and Hospira are public companies, world leaders in quality manufacturing and recognized experts in their field of work."
About UCB
With more than 30 years of experience dedicated to peptide API contract manufacturing, UCB-Bioproducts is the world leader in pharmaceutical peptides and peptidomimetics, supporting customers' projects with services from preclinical to commercialization through clinical development. UCB-Bioproducts is a division of UCB, a global biopharmaceutical leader headquartered in Brussels, Belgium, with manufacturing facilities in Europe and the United States and sales and marketing offices in Europe, the U.S. and Japan. UCB employs over 8,500 people operating in over 40 countries worldwide.
We seek Safe Harbor.
Uranium spot price is weekly. I try to chart over 3 years -Interesting. All green & up. When you overlay demand - we produce no where near what is required in the world. Therefore I have invested in several Ur. stocks
IZP.T NR yesterday & sedar today 113M at .145
Inflazyme earns $277,717 in third quarter on asset sale
2006-02-13 18:41 ET - News Release
Mr. Kevin Mullane reports
FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2005
Inflazyme Pharmaceuticals Ltd. released its third quarter financial results for the period ended Dec. 31, 2005.
Progress with the company's LSAID, IPL512,602 in asthma
Throughout 2005 the company has been advancing its once-a-day oral asthma product, IPL512,602, toward its next clinical study. In the first quarter of 2005, the company evaluated in detail the results of the phase IIa asthma study and identified important activities of the product. This information was shared with various asthma experts who endorsed both the profile of the product and its continued development. In particular, IPL512,602 showed activity on a number of what are referred to as "patient reported outcomes" that include quality of life measures, as well as the need for "rescue" medication -- that is, need to use a bronchodilator -- to alleviate symptoms or prevent an asthma attack. These "patient reported outcomes" have been increasingly recognized as an important determinant of how well the asthma is controlled -- a key goal of any therapy.
These results were formally shared with the Food and Drug Administration as a basis for continuing the development of this product for asthma. The company reported in August, 2005, that the agency also acknowledged that patient-reported outcomes such as quality of life measures would be considered among the primary end points suitable for future clinical studies, including phase III studies.
Based on this information, the company designed the next clinical study for the asthma compound, and on Dec. 21, 2005, announced in Stockwatch its intention to begin a phase IIb asthma study in early 2006. Building on the phase IIa results, which were obtained in mild to moderate asthmatics, the next phase IIb study looks at the moderate to severe asthma population. The purpose of this phase IIb study is to further evaluate the potential of IPL512,602 and its effect on asthma control. This clinical trial is an international multicentre study being conducted in the United States, Russia and several Central European countries. The study is expected to start end of the first quarter of 2006 or the early part of the second quarter 2006 with results anticipated first quarter 2007.
In clinical trial parlance, the study is described as a double blind, placebo-controlled, parallel group design in moderate to severe male or female asthmatics, 18 to 50 years old, evaluating 20-milligram IPL512,602 given orally, once a day for eight weeks. Since these patients have pronounced asthma, they will be on a background therapy of an inhaled steroid, but still suffer from significant symptoms which impact their lives and require additional treatment with a short acting bronchodilator to alleviate their asthma. IPL512,602 will be added to their treatment to determine if it improves asthma control.
Asthma control will be measured in a number of ways. The primary end point will be asthma quality of life (AQLQ) scores, measured using the FDA-validated Juniper scale. This is an asthma disease specific instrument developed by Dr. E. Juniper and colleagues, who retain rigorous control of its appropriate application, and has been used in numerous clinical trials of asthma. The secondary end points include additional measures of asthma control such as need for short acting bronchodilators, nighttime awakenings and symptom scores. Measures of lung function, FEV1 and peak expiratory flow will also be made.
Moreover, the company is in the process of completing a commercial assessment of the product conducted by an independent consultant that shows, using the efficacy profile of IPL512,602 obtained from the phase IIa study, a compelling market opportunity for the company's drug.
Progress with the company's PDE4 inhibitor, IPL455,903
In November, 2005, the company announced the results from the multidose, double-blinded, placebo-controlled phase Ib clinical study with IPL455,903 (also known as HT-0712), as provided to the company by Helicon Therapeutics Inc. (New York). The study was completed in healthy young and elderly subjects at doses up to 135 mg per subject per day for 14 days. Helicon reported that IPL455,903 was safe and well tolerated in all volunteers and at all doses tested. Based on these results together with the phase Ia results reported in May, 2005, Helicon has advised Inflazyme that it is on track to advance IPL455,903 into phase IIa clinical studies for the treatment of memory disorders in first quarter 2006.
The company's drug has shown to be safe and well tolerated at all doses tested to date in phase I studies, with no serious adverse events noted. In particular, there has been no evidence of nausea or vomiting (also referred to as emesis). Other PDE4 inhibitors in development have frequently been observed to cause nausea and emesis even after a single dose of the drug has been administered, contributing to an unacceptable safety profile which has hampered the clinical advancement of this particular class of drugs.
The company has the option to participate, under a joint venture structure, in the continued development of IPL455,903 in memory disorders beyond phase IIa by buying into the partnership agreement with Helicon at any time up until 90 days after the completion of the first phase IIa study. In order to participate in a joint venture, the company would pay to Helicon 50 per cent of the clinical development costs incurred to the date of exercise. In return, the company would receive the right to participate financially, on an equal basis with Helicon, in the continued development and commercialization of the product. If the company elects not to exercise the option, it will receive certain royalties on net sales on any product commercialized.
Research programs
Since IPL455,903 has to date demonstrated that it is non-emetic, the company's research team is working to identify further PDE4 inhibitors for respiratory and inflammatory indications based on the company's active, non-emetic pharmacophore from the IPL455,903 series. The objective is to identify compounds which demonstrate efficacy and safety advantages over other PDE4 inhibitors currently in development by competitor pharmaceutical and biotechnology companies.
Changes to the company's board of directors
Toward the end of last quarter, the company announced the appointment of John Hodgman as the chairman of the board of directors. Mr. Hodgman brings to Inflazyme extensive experience in finance, management and leadership positions gained in the U.S. in public and private biotechnology, software and high-technology companies. Mr. Hodgman has a proven record with companies transitioning from research and development through to commercial operations with worldwide sales. The company is very excited to have Mr. Hodgman join the company's team. Mr. Hodgman succeeded Dr. Walt Lovenberg, who served as the company's chairman since 1997. The company benefited greatly from Mr. Lovenberg's counsel during his chairmanship. Dr. Lovenberg will continue to assist Inflazyme through his participation as a member of the company's board.
In addition, in January this year, the company also announced the appointment of Louis Drapeau as a director of Inflazyme and chairman of the company's audit committee. Mr. Drapeau has over 30 years experience in the financial and biotechnology sectors. He was acting chief executive officer of BioMarin Pharmaceutical Inc. and oversaw the successful development of BioMarin's lead product Phenoptin and the successful filing of marketing drug applications in the U.S. and Europe for Naglazyme.
The company is equally very excited that Mr. Drapeau has joined its team. Mr. Drapeau succeeded Graham Wilson who served as chairman of the company's audit committee and was a member of the company's board of directors for the past few years.
Results of operations for the quarter ended Dec. 31, 2005
The net income for the quarter ended Dec. 31, 2005, was $277,717 (nil per common share) compared with a net loss of $4,410,189 (four cents per common share) in the corresponding quarter in the prior year. The net income for the period relates primarily to a gain on the sale of a subsidiary of $3,484,049 which was recognized in the quarter, and a reduction in research and development, general and administration, and amortization expenses. Interest and licensing revenue were both lower during the current quarter compared with the same quarter in the prior period.
Research and development expenses
Research and development expenses for the quarter ended Dec. 31, 2005, were $1,229,330 versus $1,890,546 during the quarter ended Dec. 31, 2004. The decrease was due to a reduction in contract research activity and lower personnel expenses through head count reductions. Contract research activity was lower because in the corresponding quarter last year, the company incurred contract research costs related to Mirococept which were not incurred in the current quarter.
The company expects that research and development expenditures, more specifically the contract research expenses, will increase in the near future as a result of its phase IIb asthma study with IPL512,602. The estimated contract research costs of the phase IIb study will be approximately $6-million.
General and administration expenses
General and administration expenses for the quarter ended Dec. 31, 2005, were $1,288,644 compared with $1,454,656 for the corresponding quarter of the prior year, a decrease of $166,012. The decrease was primarily due to reduced corporate and office expenses offset by higher professional fees.
Amortization expenses
The company recorded $819,394 in amortization expense during the quarter ended Dec. 31, 2005, compared with $1,203,432 during the corresponding period of the prior year. The amortization amount has decreased due to writedowns in the acquired intangible asset balances taken during fiscal 2005.
Liquidity and capital resources
At Dec. 31, 2005, the company's cash, cash equivalents and short-term investments totalled $15,878,263 compared with $15,860,738 at March 31, 2005. Working capital at Dec. 31, 2005, was $15,102,507 compared with $15,057,698 at March 31, 2005. The similar working capital balances reflect the use of capital resources in the operations of the business offset by the proceeds realized from the sale of the wholly owned subsidiary.
Cash and cash equivalents were $10,822,898 at Dec. 31, 2005, compared with $15,650,334 at March 31, 2005, a decrease of $4,827,436. The decrease in cash and cash equivalents resulted from cash provided by operating activities of $400,631 offset by cash used in investing activities of $5,178,807 and cash used in financing activities of $49,260.
The company believes that its working capital position at Dec. 31, 2005, will enable the company to finance operating expenses and capital requirements into the second quarter of calendar 2007.
Conference call
Inflazyme will host a conference call to discuss this announcement on Tuesday, Feb. 14, 2006, at 7 a.m. Pacific Time/10 a.m. Eastern Time. To access the call, please dial 416-695-5261 or 1-877-888-3855. Audio replay of the conference call will be available until March 14, 2006, by calling 416-695-5275 or 1-888-509-0081.
CONSOLIDATED STATEMENTS OF
OPERATIONS AND DEFICIT
For the three months
ended Dec. 31,
2005 2004
Revenues
Interest $121,453 $128,864
Licensing
revenue 9,583 9,581
-------- -------
131,036 138,445
-------- -------
Expenses
Research and
development 1,229,330 1,890,546
General and
administration 1,288,644 1,454,656
Amortization 819,394 1,203,432
Writedown
of acquired
intangible
assets - -
Restructuring
expenses - -
Writedown
of property
and equipment - -
Writedown
of other assets - -
Gain on sale of
subsidiary (3,484,049) -
Gain on lease
termination - -
-------- -------
(146,681) 4,548,634
-------- -------
Net income
(loss) for
the period 277,717 (4,410,189)
(Deficit),
beginning
of period (115,492,760)(98,041,710)
-------- -------
(Deficit), end
of period $(115.21-m) $(102.45-m)
======== =======
Basic and
diluted (loss)
per common share - (0.04)
CONSOLIDATED STATEMENTS OF
OPERATIONS AND DEFICIT
For the nine months
ended Dec. 31,
2005 2004
Revenues
Interest $294,611 $446,938
Licensing
revenue 28,745 92,957
-------- -------
323,356 539,895
-------- -------
Expenses
Research and
development 3,674,807 7,910,937
General and
administration 3,247,726 4,717,718
Amortization 2,446,640 3,470,959
Writedown
of acquired
intangible
assets - 2,335,797
Restructuring
expenses - 596,488
Writedown
of property
and equipment - 146,458
Writedown
of other assets - 48,090
Gain on sale of
subsidiary (6,794,150) -
Gain on lease
termination - (1,090,354)
-------- -------
2,575,023 18,136,093
-------- -------
Net income
(loss) for
the period (2,251,667)(17,596,198)
(Deficit),
beginning
of period (112,963,376)(84,855,701)
-------- -------
(Deficit), end
of period $(115.21-m) $(102.45-m)
======== =======
Basic and
diluted (loss)
per common share (0.02) (0.17)
We seek Safe Harbor.
NCS-T NR today 14M at 11.70
Nucryst to release Q4, year-end results by Feb. 15
2006-02-14 10:21 ET - News Release
Ms. Gillian McArdle reports
NUCRYST PHARMACEUTICALS WEBCAST OF CONFERENCE CALL TO DISCUSS 2005 FOURTH QUARTER AND YEAR-END RESULTS
Nucryst Pharmaceuticals Corp. will hold a webcast at 4:30 p.m. Eastern Time on Wednesday, Feb. 15, 2006, regarding the company's 2005 fourth quarter and year-end results.
Scott H. Gillis, president and chief executive officer, and Eliot M. Lurier, vice-president of finance and administration, will participate on the call.
TTH-T NR today 137M at .67
Transition Therapeutics loses $5.3-million in Q2 2006
2006-02-14 10:24 ET - News Release
Dr. Tony Cruz reports
TRANSITION THERAPEUTICS ANNOUNCES SECOND QUARTER FISCAL 2006 FINANCIAL RESULTS
Transition Therapeutics Inc. has released its financial results for the quarter ended Dec. 31, 2005.
Recent highlights
The second quarter of fiscal 2006 has included a number of key events, which have strengthened Transition both in the immediate and the long term. During the three months ended Dec. 31, 2005, the company achieved the following significant milestones:
announced preliminary data from the exploratory phase IIa trial for the lead diabetes regenerative therapy, E1-I.N.T. in type I diabetes patients. Three of the first four patients completing the four-week treatment period showed a 35-per-cent to 75-per-cent reduction in daytime insulin usage and a favourable safety profile when the therapy was titrated to maximal doses;
acquired from Protana Inc. the Optimol Lead Discovery technology, a patented state-of-the-art drug discovery system that will enable the company to identify and optimize lead compounds in considerably less time than the current industry standard. As part of this acquisition, Transition has assumed a series of drug discovery programs and acquired lead molecules to cancer and osteoporosis targets. During the three-month period ended Dec. 31, 2005, the company completed an evaluation of these programs and has prioritized drug discovery activities to accelerate the identification and optimization of novel lead molecules. In addition, development plans are being formulated for the advancement of the lead molecules for cancer and osteoporosis; and
in December, 2005, an investigational new drug application (IND) was submitted to the U.S. Food and Drug Administration (FDA) for a phase I clinical trial for the AZD-103 compound, a promising disease-modifying therapeutic candidate for the treatment of Alzheimer's disease.
Subsequent to the quarter end, the company:
Completed an offering for 15,575,000 common shares at a price of 69 cents per common share for gross proceeds of $10,746,750. The company incurred total share issuance costs on the offering of $1,041,706, resulting in net cash proceeds of $9,705,044; and
increased its equity position in Ellipsis Neurotherapeutics Inc. (ENI) to 33.2 per cent. Under the terms of the ENI agreement dated Nov. 4, 2004, the company issued four million exchange rights, which entitled certain ENI shareholders to convert one ENI common share to 0.8264 common share of the company, until such rights expired on Feb. 4, 2006. On Jan. 27, 2006, 1.5 million exchange rights were exercised, resulting in the company issuing 1,239,600 Transition common shares in exchange for 1.5 million common shares of ENI. The remaining 2.5 million exchange rights expired unexercised on Feb. 4, 2006.
Update On phase IIa clinical trials For E1-I.N.T.
In December, 2005, the company updated its continuing exploratory phase IIa clinical studies of its lead diabetes regenerative therapy, E1-I.N.T. for type I and type II diabetes patients, as well as blinded safety and efficacy data for the type I diabetes clinical study. Preliminary data from three of the first four type I diabetes patients completing the four-week treatment period showed a reduction in daytime insulin usage by 35 per cent to 75 per cent, and a favourable safety profile when the therapy was titrated to maximal doses.
The reductions of daytime insulin usage are evident after the 28-day treatment period and peak between one to two months posttreatment. During this period, these patients have maintained stable blood glucose control as measured by glycosolated hemoglobin levels (HbA1c). These early efficacy findings in type I diabetes patients are consistent with effects demonstrated in diabetes animal models where maximal levels of regeneration were observed three to six weeks posttreatment.
These early data, while preliminary, are very encouraging and represent an important step in the development of the first diabetes regenerative therapy at Transition. Now, with some early signs of efficacy, the company can begin its planning for future clinical trials to optimize the E1-I.N.T. therapy. The company shares the view of many leaders in diabetes research, that any therapy that can reduce or eliminate insulin usage by diabetics would have a significant impact on the management of the disease.
Financial review
For the three-month period ended Dec. 31, 2005, Transition recorded a net loss of $5,307,972 (four cents per common share) compared with a net loss of $3,660,041 (three cents per common share) for the three-month period ended Dec. 31, 2004.
Research and development expenses increased to $2,337,439 for the three-month period ended Dec. 31, 2005, from $1,155,817 for the same period in fiscal 2005. This increase was primarily the result of an increase in clinical program expenses relating to the company's I.E.T. and I.N.T. continuing clinical trials, as well as the increase in costs relating to the lead discovery system purchased from Protana.
General and administrative expenses decreased slightly to $754,431 for the three-month period ended Dec. 31, 2005, from $788,863 for the same period in fiscal 2005.
Net interest income for the three-month period ended Dec. 31, 2005, was $86,692, as compared with $138,925 for the same period in fiscal 2005. This decrease primarily resulted from decreased cash balances and interest expense resulting from the long-term debt obligation assigned in conjunction with the purchase of assets from Protana.
CONSOLIDATED STATEMENT OF
LOSS AND DEFICIT
Six months ended Dec. 31
2005 2004
Revenues
Management fees 239,930 -
Licensing fees 65,622 43,748
---------- ----------
305,552 43,748
---------- ----------
Expenses
Research and
development 3,817,133 1,914,669
General and
administrative 1,446,744 1,389,807
Amortization 4,199,983 4,174,301
Foreign exchange
gain (64,256) 10,216
(Loss) on
disposal of
capital assets 6,081 -
---------- ----------
9,405,685 7,488,993
---------- ----------
(Loss) before
the following (9,100,133) (7,445,245)
Interest income,
net 180,476 243,430
Equity (loss) in
affiliate (345,683) (38,153)
(Losses) of
company
transferred under
contractual
arrangement (364,920) (57,849)
---------- ----------
(Loss) before
income taxes (9,630,260) (7,297,817)
Recovery of
future income
taxes - 1,094,335
---------- ----------
Net (loss) for
the period (9,630,260) (6,203,482)
---------- ----------
(Deficit),
beginning
of period, as
originally
stated (46,486,090) (32,217,802)
Adjustment for
change in
accounting
policy related
to stock-based
compensation - (45,180)
---------- ----------
(Deficit),
beginning
of period, as
restated (46,486,090) (32,262,982)
---------- ----------
(Deficit), end
of period (56,116,350) (38,466,464)
========== ==========
Basic and fully
diluted net
(loss) per
common share $(0.08) $(0.06)
CONSOLIDATED STATEMENT OF
LOSS AND DEFICIT
Three months ended Dec. 31
2005 2004
Revenues
Management fees 157,840 -
Licensing fees 32,811 32,811
---------- ----------
190,651 32,811
---------- ----------
Expenses
Research and
development 2,337,439 1,155,817
General and
administrative 754,431 788,863
Amortization 2,189,652 2,016,722
Foreign exchange
gain (48,367) 7,149
(Loss) on
disposal of
capital assets 2,112 -
---------- ----------
5,235,267 3,968,551
---------- ----------
(Loss) before
the following (5,044,616) (3,935,740)
Interest income,
net 86,692 138,925
Equity (loss) in
affiliate (183,315) (38,153)
(Losses) of
company
transferred under
contractual
arrangement (166,733) (57,849)
---------- ----------
(Loss) before
income taxes (5,307,972) (3,892,817)
Recovery of
future income
taxes - 232,776
---------- ----------
Net (loss) for
the period (5,307,972) (3,660,041)
---------- ----------
(Deficit),
beginning
of period, as
originally
stated (50,808,378) (34,806,423)
Adjustment for
change in
accounting
policy related
to stock-based
compensation - -
---------- ----------
(Deficit),
beginning
of period, as
restated (50,808,378) (34,806,423)
---------- ----------
(Deficit), end
of period (56,116,350) (38,466,464)
========== ==========
Basic and fully
diluted net
(loss) per
common share $(0.04) $(0.03)
We seek Safe Harbor.
QLT-T NR today 91M at 7.60
QLT phase II lemuteporfin trial does not meet objective
2006-02-14 06:50 ET - News Release
Ms. Therese Hayes reports
QLT ANNOUNCES PRELIMINARY FINDINGS FROM PHASE II CLINICAL TRIAL OF LEMUTEPORFIN-INJECTABLE IN BPH; PRIMARY ENDPOINT NOT ACHIEVED AT THREE MONTHS
QLT Inc.'s phase II clinical trial of lemuteporfin-injectable in patients with benign prostatic hyperplasia (BPH) did not meet the study's primary efficacy objective at three months. While the decrease in AUA (American Urological Association) symptom score was consistent with that seen after other minimally invasive therapies, there was no significant difference between treatment and sham-control groups.
"The preliminary result of this trial does not support initiation of phase III clinical trials of lemuteporfin in BPH at this time," commented Bob Butchofsky, QLT's acting chief executive officer. "We intend to complete the analysis of the data, including the six-month measurements, in order to determine the best path forward."
QLT will discuss these results on Wednesday, Feb. 22, 2006, at 8:30 a.m. ET (5:30 a.m. PT) during its previously scheduled investor conference call to discuss year-end results and 2006 guidance. The call will be broadcast live via the Internet. To participate on the call, please dial 1-800-525-6384 (North America) or 780-409-1668 (international) before 8:30 a.m. ET. A replay of the call will be available via the Internet and also via telephone at 1-800-695-1018 (North America) or 402-220-1753 (international), access code 9614255.
We seek Safe Harbor.
Note: unusual action NRI.T and HEB on NY
Today was the 5th red index day in a row
Way to go Swami, I see that TLM/ECA & HSE are up in my pf
QLT-T NR w/recc today 91M at 7.47
Globe says cut the chaff and go for Gerdau, others
2006-02-13 05:16 ET - In the News
See In the News (C-GNA) Gerdau AmeriSteel Corp
The Globe and Mail reports in its Saturday, Feb. 11, edition that Gotham Capital boasts 40-per-cent annual returns over the past two decades. The Globe's Derek DeCloet writes in the Taking Stock column that Gotham fund manager Joel Greenblatt is the author of the most important new book an investor could read right now. Mr. Greenblatt's "The Little Book that Beats the Market" says the best way to earn above-average returns in the stock market is to buy shares in good companies, those with high returns on capital, when they are cheap. It is a simple idea and hardly a new one. But he says most people do not follow his strategy because it only works in the long run. He says most investors lack the discipline to stay with a strategy during the rough times. "The only way you can stick with something that's not working in the short term is that you know what you're doing is logical and makes sense, and will eventually work in the long term." Mr. Greenblatt recommends investors scour their portfolio's for low-quality stocks and replace them with something better. He recommends Gerdau Ameristeel, Inmet Mining, QLT, Sino-Forest and Russel Metals. He says these stock are cheap, but good.
TMC.T NR today 47M at 1.78
Tm Bioscience supplies St. Joseph's with Tag-It
2006-02-13 07:50 ET - News Release
Mr. Greg Hines reports
TM BIOSCIENCE TO SUPPLY ST. JOSEPH'S HOSPITAL AND MEDICAL CENTER WITH TAG-IT(TM) REAGENTS
Tm Bioscience Corp. has signed an agreement to supply St. Joseph's Hospital and Medical Center (Arizona) with Tag-It reagents for use in its cystic fibrosis (CF) gene assay.
"We selected Tm's Tag-It platform because we were impressed by its performance and flexibility. Tm's technology has allowed us to develop an assay testing for numerous CF associated mutations at once in a single well, an extremely time-efficient and cost-effective solution," said John Stone, director of laboratory services at St. Joseph's Hospital. "Because the platform is open and flexible, we ultimately anticipate providing our patients with a broader menu of important genetic tests using Tm reagents."
Located in the heart of Phoenix, Ariz., St. Joseph's Hospital and Medical Center is a 536-bed, not-for-profit hospital that provides a wide range of health, social and support services, with special advocacy for the poor and underserved. Founded in 1895 by the Sisters of Mercy, St. Joseph's was the first hospital in the Phoenix area. The hospital is part of Catholic Healthcare West (CHW), one of the largest health care systems in the West with 40 hospitals in Arizona, California and Nevada.
"We look forward to working with St. Joseph's Hospital to provide leading-edge medical laboratory services for the state of Arizona," said Greg Hines, president and chief executive officer of Tm Bioscience.
We seek Safe Harbor.
APH.v NR today 19M at .09
Alda to hand out T36 hand sanitizer to distributors
2006-02-13 10:15 ET - News Release
Dr. Terrance Owen reports
ALDA PHARMACEUTICALS INTRODUCES HAND SANITIZER
Alda Pharmaceuticals Corp. has received delivery of its new T36 hand sanitizer, which kills 99.9 per cent of most common micro-organisms within seconds. The new product has been approved by Health Canada (DIN No. 02247771) and will be immediately introduced to Alda's distributors and retail outlets.
Dr. Terrance Owen, president and chief executive officer of Alda Pharmaceuticals, comments: "We are very pleased to be able to offer this new product to our customers. It nicely complements our T36 disinfectant and the other infection control products that are in the pipeline."
Wag Time March 4/2006 - 4:05 PM ET
PBP.T Sedar released today 94M at .30
Preliminary Short form Prospectus
WXI-T NR today 35M at 1.74
Wex Pharmaceuticals names Qui as GM of Wex Medical
2006-02-10 12:48 ET - News Release
Mr. Don Evans reports
WEX PHARMACEUTICALS INC.: NEW GENERAL MANAGER OF HONG KONG
Wex Pharmaceuticals Inc.'s vice-president of operations, Dr. Don Qiu, will be stepping down to assume the role of general manager, Wex Medical Ltd., a wholly owned subsidiary of the company, so that he can focus more on the company's Asian operations.
We seek Safe Harbor.
DDS-T NR today 43.6 M at 9.26
Labopharm to release 2005 year-end results Feb. 16
2006-02-09 08:11 ET - News Release
Mr. Warren Whitehead reports
LABOPHARM TO HOST CONFERENCE CALL THURSDAY, FEBRUARY 16, 2006 AT 8:30 A.M. (ET)
Labopharm Inc. will host a conference call on Thursday, Feb. 16, 2006, at 8:30 a.m. ET to discuss its fourth quarter 2005 financial results. Labopharm will report its fourth quarter 2005 financial results at approximately 7 a.m. the same day.
To access the conference call by telephone, dial 416-644-3428 or 1-800-814-4941. Please connect approximately 15 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay until Thursday, Feb. 23, 2006, at midnight. To access the archived conference call, dial 416-640-1917 or 1-877-289-8525 and enter the reservation No. 21173669 followed by the number sign.
A live audio webcast of the conference call will be available on the company's website. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above website for 30 days.
We seek Safe Harbor.
TMC-T NR today 47M at 1.83
Tm to provide Montreal Children's with Tag-It
2006-02-09 08:19 ET - News Release
Mr. Greg Hines reports
TM BIOSCIENCE TO SUPPLY MONTREAL CHILDREN'S HOSPITAL WITH TAG-IT(TM) REAGENTS
Tm Bioscience Corp. has signed an agreement to supply the Montreal Children's Hospital of the McGill University Health Centre (Montreal, Que.) with Tag-It reagents for use in its cystic fibrosis (CF) testing program.
"Our laboratory has been facing growing demand for cystic fibrosis screening over the past few years. The Tm platform will allow us to address this demand with an accurate and rapid assay," said Dr. Patrick Scott, director of the molecular genetics laboratory at the Montreal Children's Hospital.
"We are delighted that the Montreal Children's Hospital has selected our Tag-It technology, marking an expansion of our commercial footprint within the Canadian market," said Greg Hines, president and chief executive officer of Tm Bioscience. "We look forward to working with Dr. Scott and to taking our Tag-It cystic fibrosis kit through the IVDD approval process at Health Canada."
About the Montreal Children's Hospital
The Montreal Children's Hospital is the pediatric teaching hospital of the McGill University Health Centre. This institution is a leader in the care and treatment of sick infants, children and adolescents from across Quebec. The Montreal Children's Hospital provides a high level and broad scope of health care services, and provides ultraspecialized care in many fields including: cardiology and cardiac surgery; neurology and neurosurgery, traumatology; genetic research; psychiatry and child development and musculoskeletal conditions, including orthopedics and rheumatology. Fully bilingual and multicultural, the institution respectfully serves an increasingly diverse community in more than 50 languages.
We seek Safe Harbor.
I think they have all gone over to tradingchief.com
LOL
BRA.T NR today 78M at 1.72
Biomira closes $16.07-million (U.S.) financing
2006-02-08 13:51 ET - News Release
Mr. Bill Wickson reports
BIOMIRA COMPLETES U.S. $16.07 MILLION FINANCING
Biomira Inc. completed, at the end of January, its financing totalling $16.07-million (U.S.), with Rodman & Renshaw LLC of New York acting as exclusive placement agent. The financing was previously reported in Stockwatch on Jan. 27, 2006. It was fully subscribed.
ASV.t NR today 32M at 30.00
Van Sun says Aspreva's success spawns local imitators
2006-02-08 09:31 ET - In the News
The Vancouver Sun reports in its Wednesday edition ot was only a few short months ago that Andrew Rae and John Clement launched their latest biotech company iCo Therapeutics from a table at Starbucks. The Sun's Gillian Shaw writes in less than a year they have now signed their first deal to take an oncology drug. They will also repurpose it to treat diabetes-related blindness and other eye diseases. ICo expects to sign its second in-licensing deal in the first quarter of this year. It is following a lead set by Aspreva Pharmaceuticals, the Victoria company that has virtually written the textbook on how to successfully repurpose existing drugs. It has been rewarded by investors who have driven its stock up from its initial public offering price of $13.68 last spring to a high of $32.04. Its known as biotech lite, the latest trend in the industry that is seeing enterprising scientists and management teams search out drugs that are already in use or close to getting approval for treating one disease and targeting them to a different disease or condition. The model shaves years off a high-risk life cycle that can have biotechs bleeding cash for upward of 15 years before revenues start to flow in.
Buying opportunity, good man :)
ONC.t NR today 36M at 4.75
Oncolytics issued reovirus clearance patent
2006-02-07 10:21 ET - News Release
Dr. Matt Coffey reports
ONCOLYTICS BIOTECH INC. ANNOUNCES ISSUANCE OF 14TH U.S. PATENT; REOVIRUS CLEARANCE OF RAS-MEDIATED NEOPLASTIC CELLS FROM MIXED CELLULAR COMPOSITIONS
Oncolytics Biotech Inc. has been granted United States patent 6,994,858 entitled Reovirus Clearance of Ras-Mediated Neoplastic Cells from Mixed Cellular Compositions. The claims describe methods of using the reovirus ex vivo to eliminate contaminating cancer cells from autologous (harvested from the patient themselves) blood stem cell transplants. The results of a study to purge cancer cells from autologous stem cell preparations using the reovirus were previously published in the March 13, 2003, issue of Blood.
"The results of this study demonstrated that the reovirus may have a role to play in purging contaminating cancer cells from stem cell preparations used for transplants," said Dr. Matt Coffey, chief scientific officer for Oncolytics. "This patent provides Oncolytics with an important extension of the potential use of the reovirus for the treatment of cancer."
Hematological (derived from blood) stem cell rescue following high-dose chemotherapy is extensively used clinically for both solid tumours and tumours of the blood. Globally, the number of autologous blood and bone marrow transplants surpasses the number of donor-derived transplants. It has been estimated that as many as 30 per cent of these autologous stem cells transplants are contaminated by cancer cells, and may contribute to clinical relapse of the cancer.
We seek Safe Harbor.