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APH.v NR today 15M at .08
Alda expects T36 sanitizer to win hands down
2006-01-31 10:51 ET - News Release
Dr. Terrance Owen reports
ALDA PHARMACEUTICALS DEVELOPS POWERFUL NEW HAND SANITIZER
Alda Pharmaceuticals Corp. has completed the development of a powerful and safe hand sanitizer based on its patent-pending T36 technology. Alda's infection control technology has been proven to completely kill all 57 bacteria, viruses and fungi on which it has been tested, including polio and TB, the two benchmark micro-organisms that are known to be the most resistant to disinfectants. The ability to kill polio and TB means that the new hand sanitizer is also acknowledged to be effective against all bacteria and viruses including avian flu, SARS, Norwalk virus, HIV, legionella and hepatitis.
Dr. Terrance Owen, president and chief executive officer of Alda Pharmaceuticals, comments: "People are becoming increasingly aware that many infectious diseases are passed on through direct hand contact. Alda is excited to enter this marketplace with a technology that is effective against so many of these easily transmittable diseases."
Alda's therapeutic subsidiary, Sirona Therapeutics Corp., will immediately pursue regulatory approval and commercialization in accordance with its agreement with Alda, after which the product will be available in United States, Canadian, Asian and European markets. The $9.4-billion infection prevention products market in the U.S. is expected to grow 5 per cent annually over the next four years with the hand sanitizers becoming a growing portion of this market.
Everyone was in the lounge in the Chat room. Training time
ANP.T NR today 14.45 & 84M shares
Angiotech says analyst's comments misled investors
2006-01-30 13:45 ET - News Release
Mr. Todd Young reports
ANGIOTECH PHARMACEUTICALS COMMENTS ON MARKET MOVEMENT RESEARCH NOTE INACCURATE
Angiotech Pharmaceuticals Inc. has confirmed that this morning, Singapore-based Biosensors International Group announced that "it has successfully defended against legal claims and defeated a request for an injunction request brought against it in the court in the Hague by Vancouver, B.C.-based Angiotech Pharmaceuticals Inc. and Boston Scientific Corporation" and "the judge ruled that Biosensors Axxion DES does not infringe the European patent."
In his opening comments of a research note on Conor Medsystems, Lehman Brothers analyst Bob Hopkins commented as to "the fact that Biosensors was able to prove non-infringement with a paclitaxel stent" and stated further that "more important, that the stent does not infringe ANPI's recently issued 0706376 patent." These two announcements had the effect of producing volatility in the trading of Angiotech's common stock.
Angiotech believes that investors should be aware the proceedings in the Netherlands were in fact a request for a preliminary injunction and not a full trial on the merits. Furthermore, although arguments were made as to the patent's validity, the court noted the EPO had maintained the 0706376 patent's validity and the court made no adverse legal conclusions or factual findings regarding the patent's validity in the Netherlands. A full trial on the merits of the infringement action has not yet been held, at which time a judgment on the merits of the case will be rendered.
The above commentary had the effect of misleading investors into believing that a final judgment of non-infringement had been rendered when in fact a trial on this action has yet to even begin.
Lehman Brothers has indicated that a correction will be circulated shortly.
We seek Safe Harbor.
DDS.T NR today 9.17 & 43M shares
Labopharm's NDA for tramadol to be reviewed by FDA
2006-01-30 09:26 ET - News Release
Mr. James Howard-Tripp reports
LABOPHARM'S ONCE-DAILY TRAMADOL NDA ACCEPTED FOR REVIEW BY U.S. FDA
Labopharm Inc.'s new drug application (NDA) for once-daily tramadol has been accepted for review and filed by the U.S. Food and Drug Administration (FDA).
Labopharm submitted the NDA for its once-daily formulation of the analgesic tramadol, for the management of moderate to moderately severe pain, on Nov. 28, 2005. The action date under the Prescription Drug User Fee Act (PDUFA) is Sept. 28, 2006.
"The acceptance of our first NDA is an important milestone for our company," said James Howard-Tripp, president and chief executive officer of Labopharm. "We look forward to the FDA's review and are excited about the prospects of commercializing our product in the U.S."
We seek Safe Harbor.
SSB.T NR today .73 & 83M shares
Stressgen plans reorganization, $9.25-million financing
2006-01-30 08:54 ET - News Release
Mr. Gregory McKee reports
STRESSGEN ANNOUNCES CORPORATE TRANSACTION RESULTING IN NON-DILUTIVE FUNDING
Stressgen Biotechnologies Corp. has entered into an agreement with 0747036 B.C. Ltd., an affiliate of Madison Group, a diversified investment firm, to recapitalize and reorganize Stressgen's business, resulting in non-dilutive financing totalling up to $9.25-million.
Immediately prior to the effective date of the transaction, the investor will invest $9.25-million in Stressgen by way of a convertible loan, $3-million of which will be held in escrow pending satisfaction of certain conditions. Stressgen will then transfer all of its assets, including the investment amount, to a new company, all of the shares of which will be owned by the existing shareholders of Stressgen, who will exchange their existing shares of Stressgen for shares of Newco on a 1-for-1 basis under a plan of arrangement. New voting and non-voting shares of Stressgen, representing a minority equity interest, will also be distributed to the existing shareholders of Stressgen. Current optionholders of Stressgen will exchange their existing options for options in Newco and current warrantholders of Stressgen will exchange their existing warrants for warrants in Newco and new warrants in Stressgen. As part of the reorganization, Newco will apply to retain Stressgen's current listing on the Toronto Stock Exchange.
The restructuring will be completed by way of a plan of arrangement, to be approved by the Yukon Supreme Court and the Stressgen securityholders. The transaction is also subject to regulatory approval and the receipt by the board of directors of Stressgen of a favourable fairness opinion from an independent third party financial adviser. Subject to these conditions, the board of Stressgen has unanimously approved the transaction.
Following the transaction, Newco will change its name to Stressgen Biotechnologies Corp., carry on the business conducted by the company, and have the benefit of up to $9.25-million non-dilutive capital. The current management of Stressgen will continue in the same capacity with Newco. Upon completion of the transaction, the investor will rename Stressgen, elect a new board of directors and seek fresh capital and new business opportunities.
The investor will, upon conversion of the convertible loan, hold a minority voting interest and a majority equity interest in the original entity. Following completion of the transaction, the investor will hold a 40-per-cent voting and a 94.9-per-cent equity interest in the original entity and current Stressgen shareholders will hold a 60-per-cent voting and a 5.1-per-cent equity interest in the original entity.
"This transaction is a win situation for our shareholders and represents a significant milestone that substantially increases our financial resources without dilution," said Gregory M. McKee, president and chief executive officer at Stressgen. "Our shareholders will maintain their current interest in Stressgen and, at the same time, receive an equity interest in a second venture."
Further details of the transaction will be provided to shareholders in an information circular describing the transaction, which is expected to be mailed in late February. Closing is currently expected to occur in March, 2006.
We seek Safe Harbor.
PYT.t NR today .61 and 13M shares
Pyng's Jacobs resigns as CEO; CFO O'Neill resigns, too
2006-01-30 09:33 ET - News Release
Mr. Kevin O'Neill reports
PYNG FOUNDER MICHAEL JACOBS RESIGNS AS CHIEF EXECUTIVE OFFICER, PYNG APPOINTS INTERIM CHIEF EXECUTIVE OFFICER AND NEW CHIEF FINANCIAL OFFICER
Pyng Medical Corp. founder, chairman and chief executive officer Michael Jacobs has resigned as chief executive officer effective Jan. 26, 2006, as part of the planned reorganization of management announced in the company's news release in Stockwatch July 25, 2005. Kevin O'Neill has resigned as chief financial officer to assume the position of interim chief executive officer during the company's previously announced executive search for a seasoned chief executive officer to lead the company to the next stage of its development and to drive its growth in the global market for the F.A.S.T. 1 system. Steve Law, controller of the company, has assumed the position of CFO effective Jan. 26, 2006, in place of Mr. O'Neill.
Mr. O'Neill has been with the company since 1998 in various capacities and has served as a director since 2002 and as president since 2003.
Mr. Jacobs will remain chairman of the company, but will resign that office on March 1, 2006, when he will become a senior consultant to the company. In this role, he will remain active in the strategic development of the company, which he founded in 1988. Mr. Jacobs was instrumental in the company becoming a world leader in the field of intraosseous infusion. He now intends to devote more time to his family and the enjoyment of life.
The board, on behalf of the company and its shareholders, wish to express their thanks to Mr. Jacobs for his extraordinary drive, hard work and dedication to duty, all of which have contributed to the company's success.
QLT.T added NR 01/25/2006 7.27 & 91M shares
Post says QLT may enlarge TAP coffers in patent dispute
2006-01-25 08:15 ET - In the News
The Financial Post reports in its Wednesday edition Research in Motion is not the only Canadian company fighting a patent infringement suit these days. The Post's Jason Kirby, writing in the Trading Desk, says on Friday, a court in Illinois ruled against QLT in a patent battle over its Eligard prostate cancer treatment. TAP Pharmaceutical Products of Illinois sued QLT in 2003. It alleged the delivery method for Eligard infringed on a TAP patent. QLT argued the patent was not enforceable. The court disagreed. In December, a jury upheld the legality of the patent. If QLT eventually loses in the patent dispute, the impact could be painful. "Although no indication has been given on the potential size of damages -- if they were to be awarded -- we forecast that QLT's exposure could represent a significant portion of the company's cash flow," said Douglas Miehm in a research note. He is an analyst at RBC Capital Markets. The company's cash position was nearly $450-million (U.S.) last September. Mr. Miehm estimated that since 2002 Eligard has produced gross profits of up to $250-million (U.S.). QLT is appealing the court's decision. QLT shares are down this week to $7.27 on the Toronto Stock Exchange.
Try this site - Lots of info
http://americanoilman.homestead.com/GasStorage.html
What is your opinion on the DJE chart?
I do a bit of DT, ST and some LT stuff. My DD determines which is where. Often I DT and ST to get shares for my LT at low or free cost.
I watch the stocks I get into pretty close. Thanks for the heads up though. I enjoy the members. Its rather quiet when you trade by yourself all the time LOL
Chief's new chat room is great. I got DJE.v from there and really like the chart. They have uranium, oil & gas. What a combination
Any of you folks follow DJE.v? They have uranium, Oil & gas. Quite a company.
WXI-T NR today 1.50 - 35M shares
Wex removes Shums from board at special meeting
2006-01-27 08:43 ET - News Release
Mr. Don Evans reports
SPECIAL SHAREHOLDERS MEETING UPDATE
Wex Pharmaceuticals Inc. has announced the results of its special meeting of shareholders held on Jan. 26, 2006.
During the meeting Frank (Hay Kong) Shum and Donna Shum were removed as directors of the company and Dr. 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 shareholders' proposal on the creation of a royalty trust was defeated.
Dr. Chen received his academic training at the University of Wisconsin-Madison and Stanford University. Upon completing his postdoctoral training, he joined the biotechnology industry and, over the course of his career, has been a research and development executive with biotech and multinational pharmaceutical companies. Dr. Chen has built talented scientific teams around programs in immunology, genomics, virology, gene therapy and cell biology, at Roche Diagnostics, Sentinel Biosciences, Progenesys and SyStemix -- a Novartis company, collectively. He played a key role in the IPO of the first biotech start-up that he joined and the acquisition of SyStemix and Sentinel Biosciences by Novartis and Roche Diagnostics. Through his involvement with biotech start-ups, multinational pharmaceutical companies and the merchant bank activities at the firm, Dr. Chen has accumulated experience in assessing technology, in transfer discovery into clinic, in raising venture investment and in establishing strategic partnerships between companies: biotech/biotech and biotech/Pharma. His current merchant bank activities expand beyond North America and reach Europe, the Asia-Pacific and the Middle East.
Mr. Cantin, as a senior executive with a successful background in leading and completing profitable financial transactions, with a particular experience in venture capital, mergers and acquisitions, and lending, has pro-actively sought and invested in some of the most well-perceived biotechnology companies in therapeutic areas such as: age-related diseases, diabetes type II, oncology, pain and virology. Currently Mr. Cantin is with CPC as a strategic consultant in life sciences and venture capital. Mr. Cantin served as senior partner of biotechnology and life sciences of CDP Capital Technology Ventures from 2001 to 2004. Prior to 2001 he was senior vice-president, life sciences, KPMG Corporate Finance. From 1994 to 1997 Mr. Cantin was senior account manager, life sciences, Royal Bank of Canada. He was awarded his MBA from HEC in 1993 and obtained his BEd from McGill University in 1981.
Mr. Miller joined Hamilton Brothers Oil Company in 1965 after being associated with Peat Marwick Mitchell & Co. in Denver from 1962 to 1965. Prior to 1991 he was executive vice-president, chief financial officer and treasurer of Hamilton Oil Corp. From 1991 to 1995 he was senior vice-president and treasurer of Hamilton Oil Company Inc., an indirect wholly owned subsidiary of the Broken Hill Proprietary Company Ltd. Mr. Miller has been associated with the Hamilton Companies LLC, a private company that specializes in co-ventures which build up long-term value, since January, 1995. Mr. Miller was also a director of Tejas Gas Corp. in Houston, Tex., Lutheran Medical Center and Lutheran Medical Center Foundation in Wheat Ridge, Colo., and Exempla Healthcare in Denver, Colo. He graduated from the University of Iowa in 1962 with a BBA degree.
We seek Safe Harbor.
BRA.T N Article 2.07 - 78M shares
Globe says Biomira's Merck rights deal boosts stock
2006-01-27 09:13 ET - In the News
The Globe and Mail reports in its Friday, Jan. 27, edition that Biomira shares reached their highest level in seven months on Jan. 26. The Globe's Roma Luciw writes that investors are keen on the recent rights sale to German drug giant Merck KGaA. As of March 1, 2006, Merck will assume the entire cost of clinical trials for L-BLP25. If it completes the trials, Merck will hold the United States rights to the non-small-cell lung cancer vaccine. Merck will be able to commercialize the drug and Biomira's co-promotion interest will become a specified royalty rate. L-BLP25 is designed to treat the lung cancer that affects 75 per cent of lung cancer patients. Of course, the drug may not be on shelves until six or seven years from now. Biomira chief executive officer Dr. Alex McPherson says Merck's decision will free up time and money. Biomira will be able to focus on other internal projects, like follow-on cancer vaccines. Pacific International Securities analyst Karen Boodram is ranking Biomira a buy. She says the phase II trial results were outstanding.
Adding DND-T NR today 21M @3.05
Cipher to file NDA for CIP-Tramadol in Q2 2006
2006-01-26 16:23 ET - News Release
Mr. Larry Andrews reports
CIPHER PROVIDES CIP-TRAMADOL ER UPDATE
Cipher Pharmaceuticals Inc. has updated the market on its clinical and regulatory progress and its expected milestones for CIP-Tramadol Extended Release (ER), its once-daily, sustained release formulation of the pain medication tramadol. Cipher expects to file the new drug application with the U.S. Food and Drug Administration (FDA) in the second quarter of 2006. Cipher has been advised by the FDA that its existing clinical data package meets the requirements to file an NDA.
"The fact that our existing data meets the requirements to file with the FDA now allows us to complete the preparation of the submission and moves us one step closer toward commercialization of CIP-Tramadol ER," commented Larry Andrews, president of Cipher Pharmaceuticals. "We intend to complete our ongoing phase III study to further support both the regulatory and commercial success of the product."
The submission of the NDA application in the second quarter of 2006 is consistent with the update the company provided as part of its third quarter report. Meanwhile the company has completed enrolment of its continuing phase III efficacy trial (the 02.05 trial) of CIP-Tramadol ER. The company expects results from the phase III trial to be available in the third quarter of 2006 along with results from a phase I trial to investigate the potential for a clinically relevant interaction between CIP-Tramadol ER and high levels of alcohol.
In biopharmaceutical trials, Cipher's capsule formulation of tramadol has demonstrated both rapid absorption and an extended release profile over a 24-hour time frame. It has also demonstrated comparable bioavailability under both fed and fasted conditions, which will allow the product to be taken without regard to meals.
We seek Safe Harbor.
Thanks I'll add it to the list.
Not to mention the condensate. A very volatile combination but also pr$fitable??
That low float should make for some interesting trading in the next while???
Did you see the move of CRD-V today. Wowzer
Did you see the move of crd-v today. Wowzer
ONC-T NR today 4.95 - 36M shares
Oncolytics Biotech receives fourth Canadian patent
2006-01-26 09:14 ET - News Release
Ms. Cathy Ward reports
ONCOLYTICS BIOTECH INC. ANNOUNCES ISSUANCE OF FOURTH CANADIAN PATENT; METHOD OF EXTRACTING VIRUS FROM CELL CULTURE
Oncolytics Biotech Inc. has been granted Canadian patent, No. 2,437,962 entitled, "Method of Extracting Virus from Cell Culture." The claims describe methods of producing and extracting infectious reovirus from a culture of cells.
"The claims in this Canadian patent broaden the intellectual property coverage for our manufacturing process," said Dr. Matt Coffey, chief scientific officer for Oncolytics. "The company's patent portfolio now includes 13 U.S. patents, four Canadian patents and two European patents."
We seek Safe Harbor.
ANP-T NR today 15.48 - 84M shares
Van Sun says Angiotech may feel upside of Guidant deal
2006-01-26 09:10 ET - In the News
The Vancouver Sun reports in its Thursday edition that Boston Scientific's deal to take over Guidant for $27.2-billion (U.S.) may be good news for Angiotech Pharmaceuticals. The Sun's Fiona Anderson writes Angiotech, in partnership with Boston Scientific, produces the drug-eluting coronary stent Taxus used to prop open arteries. The stent emits the drug paclitaxel, which prevents scarring that can reblock arteries. Pacific International analyst Karen Boodram said Wednesday's deal would be positive for Angiotech "in the short term, because of the added marketing presence" provided by Guidant. In the longer term, the impact on Angiotech is less clear, Ms. Boodram said. Guidant also has a drug-eluting stent which she said could "cannibalize Taxus's sales" and have a negative impact on Angiotech. Guidant's stents, however, will not be available for use in the United States for another two or three years. That gives Angiotech time to develop other products such as its drug-eluting vascular wrap aimed at reducing scarring that occurs in grafts after bypass surgery. "So in the short term, it's positive," she said. Angiotech shares closed down 17 cents to $15.48 on the Toronto Stock Exchange.
MS-T NR today 2.47 - 62M shares
BioMS Medical selects ICON for MBP8298 trial
2006-01-26 11:54 ET - News Release
Mr. Kevin Giese reports
BIOMS MEDICAL RETAINS ICON FOR PIVOTAL MULTIPLE SCLEROSIS TRIAL
BioMS Medical Corp. has signed a letter of intent establishing ICON as the global clinical research organization (CRO) for the company's pivotal phase II and III clinical trial for MBP8298 for the treatment of multiple sclerosis.
"ICON is ranked as one of the top clinical trial management firms in the world. Their expertise in this field will be invaluable as they assume the lead for our pivotal clinical trial as we expand it through Europe," said Kevin Giese, president of BioMS Medical. "ICON has identified additional clinical trial sites in Europe that will ensure the timely completion of enrolment of our trial in mid-2006. We now anticipate up to an estimated 50 sites will be participating across Canada and Europe."
Dr. Dan Weng, president, ICON clinical research, ROW, commented: "We are delighted BioMS has chosen ICON to conduct its pivotal trial. With our extensive experience, we are committed to ensuring the achievement of BioMS's goals."
The randomized double-blind trial is targeted to enroll up to 553 patients, who will be administered either MBP8298, or placebo, intravenously every six months, for a period of two years.
We seek Safe Harbor.
DJE-V NR today
Dejour Merit No. 1 well reaches 10,290 feet
2006-01-26 14:26 ET - News Release
Mr. Robert Hodgkinson reports
Dejour Enterprises Ltd. is providing updates on the company's exploration projects.
Uranium
Athabasca basin, Northern Saskatchewan
The company reports that its exploration program on its 100-per-cent-owned properties in the basin is rapidly progressing. The company is the operator. Line cutting work is ahead of schedule. The line cutting and geophysical crew (14) have mobilized to the field this week to conduct the work necessary to finally define drill locations for the initial 10 to 12 holes. Drilling is able to commence by the end of March, 2006. These holes will test targets defined by the air and ground geophysical work, anomalous radioactivity, and sandstone alteration intersected in drilling by previous operators.
J. Allan McNutt, PGeo, MASc, is the qualified person for Dejour's uranium projects.
Oil and gas
Lavaca prospect, Texas
The company previously reported the successful drilling, logging and casing of its first well on this prospect. Well logs indicate up to four intervals of interest. The company is awaiting release of further information from the operator.
Tinsley Deep prospect, Mississippi
The company reports that the drilling of the Merit No. 1 well has reached a depth of 10,290 feet on its way toward a target depth of 12,000 feet.
The operator reports that as expected, the faulted anticline was cut in the lower Hosston and Upper Cotton Valley formations and that so far, things are geologically as expected, if not better.
The Smackover formation was penetrated at 10,221 feet and after drilling approximately 80 feet into the Smackover, the drill bit was stopped at 10,290 feet. Drilling of the adjacent Union Jennie Stevens No. 21 well (in 1945) was halted approximately 120 feet into the Smackover formation, where the old logs indicated the presence of sour gas.
The Merit No. 1 well has now been logged to current depth and an intermediary casing string has been inserted due to anticipated overpressured formations (4,500 pounds plus) in each of the Smackover and Norphlet formations. A log analyst has reviewed the logs and identified the existence of a section of interest, uphole, in the Cotton Valley formation.
The Smackover formation in the Merit No. 1 well is 645 feet high to the nearby Union Jennie Stevens No. 21 well mentioned above. This is geologically significant. Prior to commencement of drill operations, the operator's geologic prognosis for the Merit No. 1 well was that it would be 400 feet higher at the Smackover formation and 600 feet higher at the Norphlet formation.
The company estimates the well should reach target depth within two weeks.
This drill location is sufficient to test the shallow Cotton Valley, the Smackover and the deeper Norphlet formations. The operator intends to drill up to 200 feet into the top of the Louann salt dome, over which the hydrocarbon targets are draped.
Prior to drilling commencement, the operator's original prognosis, using three-dimensional seismic data, estimated the existence of 5,100 productive acres of 100-foot net sand, with 12-per-cent porosity, could contain recoverable 349 billion cubic feet of gas and 7.1 million barrels condensate from the Smackover formation. Separately, the operator estimated the existence of 3,800 productive acres of 100-foot net sand with 15-per-cent porosity could contain recoverable 284 billion cubic feet of gas and 6.7 million barrels condensate from the Norphlet formation. These estimates are prospective resource estimates only, but do not include any allocation for the Cotton Valley formation. The company has not done a risk analysis in accordance with National Instrument Policy 51-101.
R. Marc Bustin, PhD, PGeol, FRSC, is the qualified person for Dejour's oil and gas projects.
Financing
Following the successful closing and oversubscription to its latest equity financing, reported in Stockwatch on Dec. 29, 2005, Dejour enters 2006 with approximately $12.4-million in cash to direct to its high-impact energy-based exploration projects.
We seek Safe Harbor.
Yes, I played it last year. Almost looks interesting on the weekly..Happy trading.
SLX-V NR today 23M @ 1.10
Stellar to present company overview Feb. 1
2006-01-25 10:35 ET - News Release
Mr. Peter Riehl reports
STELLAR PHARMACEUTICALS TO PRESENT AT BREAN MURRAY, CARRET & CO. SMALL CAP INSTITUTIONAL INVESTOR CONFERENCE
Arnold Tenney, chairman, and Peter Riehl, president and chief executive officer, will be presenting an overview of Stellar Pharmaceuticals Inc. at the Brean Murray, Carret & Company's small cap institutional investor conference in New York on Wednesday, Feb. 1, 2006, at 4 p.m. Eastern Time. The conference is being held at the Grand Hyatt New York.
The presentation will also be broadcast live over the Internet via the "Webcasts" page of the Stellar Pharmaceuticals website. To listen to the live webcast, go to the website at least 15 minutes early to register, download and install any necessary audio software. Access to the webcast will be available for seven days following the presentation as a replay at the company website.
We seek Safe Harbor.
ASV-T NR today 32M - 22.30
Aspreva to release Q4, year-end results on Feb. 8
2006-01-25 15:18 ET - News Release
Ms. Sage Baker reports
ASPREVA TO RELEASE 2005 FOURTH QUARTER AND YEAR END RESULTS ON FEBRUARY 8TH
Aspreva Pharmaceuticals Corp. will release financial results for the fourth quarter and full year ending Dec. 31, 2005, on Wednesday, Feb. 8. The company will hold a conference call and webcast beginning at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss results and to provide a general corporate update.
The webcast and conference call will be available to all interested parties. Please dial 1-866-831-6224 (North America) or 1-617-213-8853 (international) and enter passcode 67864252 to participate in the call. The call will be available for replay until Wednesday, Feb. 15, by calling 1-888-286-8010 (North America) or 1-617-801-6888 (international) and entering passcode 32850113. The webcast replay will be available until Aspreva's first quarter 2006 conference call.
Don't forget Sask. Has more tar sands than AB.
ONC-T NR today 4.98 on 36M shares
Oncolytics to show phase I Reolysin trial data at AACR
2006-01-24 06:11 ET - News Release
Ms. Cathy Ward reports
ONCOLYTICS BIOTECH INC.'S RESEARCH COLLABORATORS TO PRESENT PHASE I COMBINATION REOLYSIN(R)/RADIATION CLINICAL TRIAL DATA AT AACR CONFERENCE
Oncolytics Biotech Inc. will make an oral presentation covering preliminary results of its phase I combination Reolysin/radiation clinical trial at the American Association of Cancer Researchers (AACR) annual meeting, to be held April 1 to 5, in Washington, D.C. The presentation, entitled, "Phase I trial of intratumoral administration of reovirus type 3 (Reolysin) in combination with radiation in patients with advanced malignancies," will be delivered by principal investigator Dr. Kevin J. Harrington of the Targeted Therapy Laboratory, the Institute of Cancer Research, Cancer Research U.K. Centre for Cell and Molecular Biology, and honorary consultant in clinical oncology at the Royal Marsden NHS Foundation Trust, London, U.K.
We seek Safe Harbor.
WIX-T NR today 1.55 on 35M shares
Wex director Li resigns
2006-01-24 09:14 ET - News Release
Mr. Don Evans reports
RESIGNATION FROM THE BOARD OF DIRECTORS
Wex Pharmaceuticals Inc. has confirmed that effective immediately Kenneth Jun Tao Li (formally known as Kenneth Hoi Kau Lee) has resigned from the board of directors.
We seek Safe Harbor.
It was new 80G, just had it for about 2 years (Not used). Then I got it formatted and put on a few files as backups. Ran Casper and now have a bootupable copy of my C drive.
Nice run on cll.t today
Heads up GNBT
Installed Casper XP. Works great. I have it in an external hard drive. Hope I never have to use it. Thanks again for the link
I couldn't find anything either. Maybe NR tomorrow???
LOR-T NR .35 & 173M
Sedar - Interm Financials posted
PBP-T NR today .365 & 94M
Procyon agrees to merge with French company Cellpep
2006-01-19 10:06 ET - News Release
Ms. Julie Thibodeau reports
PROCYON AND CELLPEP TO MERGE VIA ACQUISITION CREATING A NEW GLOBAL BIOPHARMACEUTICAL COMPANY: AMBRILIA BIOPHARMA INC.
Procyon Biopharma Inc. and Cellpep S.A., a French private biotechnology company developing therapeutics in oncology and infectious diseases, have entered into a definitive acquisition agreement under which Procyon has offered to acquire all of the outstanding securities of Cellpep in exchange for a number of common shares equal to $39.1-million in value to be issued to the Cellpep shareholders. An $18.1-million concurrent private placement of special warrants and units has also been completed today. As of the date of this announcement, more than 95 per cent of all Cellpep shareholders have accepted Procyon's offer. The acquisition and concurrent private placement have been approved by the board of directors of both companies and remain subject to the approval of Procyon shareholders. The special warrants will entitle holders to receive common shares and warrants to purchase common shares of Procyon upon completion of the Cellpep acquisition. Procyon has also made a secured loan of $1.9-million to finance the operations of Opep Pharma Inc., the Canadian manufacturing subsidiary of Cellpep S.A. This will allow the newly formed entity to substantially increase its future gross margin in the manufacturing area. Following the completion of the transaction, Procyon intends to change its name to Ambrilia Biopharma Inc.
The strategic combination of both companies will form a new entity: Ambrilia Biopharma Inc., a global, publicly listed biopharmaceutical company specialized in the development of innovative therapeutics in the fields of oncology and infectious diseases. Following completion of the transaction, Ambrilia Biopharma's common shares will continue to be traded on the Toronto Stock Exchange, under a new ticker symbol: AMB.
Cellpep brings to Procyon a complementary oncology and infectious diseases product portfolio that includes two late-stage high-value generics. The first of these products, octreotide, for which distribution agreements with major pharmaceutical companies have been already concluded, is expected to be launched in Europe in 2007 and in the United States in 2008. The second product, goserelin, is expected to be launched in Europe in 2008. With this combined portfolio comprised of high-value late-stage products, Ambrilia Biopharma expects to accelerate its path to profitability and enhance its global position by generating potential revenues through U.S. and European sales of octreotide and goserelin.
Dr. Max Link will remain chairman of the board, Hans J. Mader will remain president and chief executive officer, and Dr. Bonabes de Rouge, Cellpep's co-founder and its present president and chief executive officer, will become chief scientific officer of Ambrilia Biopharma. Procyon's co-founder, Dr. Chandra Panchal, will assume the responsibilities of business development, licensing and intellectual property.
"We are very excited about this major strategic move to bring both companies together," said Mr. Mader, president and chief executive officer of Procyon Biopharma. "Combining an early-stage with a late-stage oncology and infectious diseases products company will, we believe, create value for all of our stakeholders. The expected revenues from Cellpep's high-value generics should enable Ambrilia to reach profitability within the next 24 months," he continued. "Furthermore, we are delighted by the successful financing we were able to achieve from both North American and European investors," he concluded.
"Our values, expertise, therapeutic focus and our respective pipelines, are a definitive fit," said Dr. de Rouge, co-founder, president and chief executive officer of Cellpep. "We believe this merger will leverage the strengths of both of our companies and I'm looking forward to joining forces with Procyon," he concluded.
Terms of the transaction
The transaction is an all-equity acquisition agreement under which Procyon will issue 119,885,894 common shares to Cellpep shareholders in exchange for their shares and other securities, assuming 100 per cent of Cellpep shareholders accept the offer, representing a total value of $39.1-million at the volume weighted average price of the last 20 days. The concurrent financing of $18.1-million consists in part of the issuance of 61,690,785 special warrants of Procyon priced at 23 cents per special warrant for a total consideration of $14.2-million. Upon closing of the Cellpep acquisition, each special warrant will entitle the holder to receive for no further consideration a unit made of one common share and one warrant to subscribe for one common share at a price of 35 cents at any time within five years from its issue date. The remaining $3.9-million of the financing consists of 16,987,056 similar units to be issued to European investors as part of the Cellpep transaction.
If a notice certifying that the completion of all matters required for the closing of the acquisition and the private placement and that Procyon has obtained a receipt for a final prospectus qualifying the distribution of the common shares and share purchase warrants to be issued upon conversion of the special warrants in each of the jurisdictions where the private placement is to be made, has not been provided to special warrants holders on or before March 22, 2006, Procyon will repurchase the special warrants held by such holder at a price equal to 23 cents per special warrant, plus applicable interest.
Proceeds of the private placement have been placed in escrow pending completion of all conditions precedent to the acquisition, including approval by Procyon shareholders and securing a final receipt for the prospectus. In the event the Cellpep acquisition is not completed, the escrowed funds will be returned to the subscribers.
A consolidation (reverse split) of shares is also planned at a later date during the year, following the transaction.
The acquisition, the private placement and the name change are subject to Procyon's shareholders approval at a special meeting of shareholders to be held on Friday, Feb. 24, 2006, at 10 a.m. (Eastern Time). The event will take place at the Centre Mont-Royal, 2200 Mansfield St. Montreal, Que., H3A 3R8. An information circular and proxy card will be mailed to all shareholders at least 21 days prior to the date of the meeting.
The private placement was completed through a syndicate of agents, lead by Dundee Securities Corp. and including Loewen, Ondaatje, McCutcheon Limited and Desjardins Securities Inc. Dundee Securities Corporation acted as adviser to Procyon for the acquisition.
Conference call information
Procyon will host a conference call and live webcast on Thursday, Jan. 19, 2006, at 11 a.m. (Eastern Time) to discuss the transaction, followed by a question and answer session. Interested parties may access the conference call by way of telephone or webcast. The live webcast will be available at the company website and archived for 90 days for replay purposes.
The numbers to access the conference call are 1-800-814-4890 (North America) and 416-644-3427 (international). A replay of the call will be available from Jan. 19 to April 19, 2006, and the numbers to access the replay are 416-640-1917 and 1-877-289-8525 with access code 21173098.
Cellpep S.A. Cellpep is a French, private biotechnology company with headquarters in Paris and a subsidiary in Montreal, Que. The company identifies and develops leading-edge technologies in the fields of oncology and infectious diseases. Cellpep's business model focuses on the pursuit of two generic products nearing commercialization and the development of proprietary peptide drug candidates. The lead product is an improved version of octreotide, a significant source of revenue for a major pharmaceutical company. Distribution agreements with major pharmaceutical companies have been already concluded for this product and it is expected to be launched in Europe in 2007 and in the U.S. in 2008. In addition, Cellpep is developing goserelin, an improved version of a prostate cancer drug as well as a fusion inhibitor for HIV and several other peptides.
ONC.T NR today 4.95 - 36M shares
Oncolytics and CTEP seek phase II study of Reolysin
2006-01-18 05:31 ET - News Release
Mr. Matt Coffey reports
ONCOLYTICS BIOTECH INC. ANNOUNCES COMMENCEMENT OF SOLICITATION PROCESS FOR CLINICAL TRIALS SPONSORED BY THE U.S. NATIONAL CANCER INSTITUTE
Oncolytics Biotech Inc. has learned that the cancer therapy evaluation program (CTEP), part of the United States National Cancer Institute (NCI), has issued a solicitation for letters of intent with respect to the conduct of two human clinical trials using Reolysin, a proprietary formulation of the human reovirus being developed as a potential cancer therapeutic.
CTEP is soliciting proposals for a phase II study of Reolysin administered systemically in patients with melanoma. The dosage and dosing regimen to be used in the study will be determined based on data derived from continuing United Kingdom and United States phase I systemic administration studies being conducted by Oncolytics.
CTEP is also soliciting proposals for a phase I/II study of Reolysin co-administered both systemically and intraperitoneally (IP) in patients with ovarian cancer. The purpose of the phase I portion of the trial is to determine the maximum tolerated dose (MTD) of Reolysin given by IP administration in combination with a constant systemic dose and dosing regimen.
Oncolytics will provide Reolysin for all clinical trials conducted and sponsored by the NCI under a clinical trials agreement (CTA). The NCI initially approved Reolysin for collaborative development after an analysis of preclinical, GLP toxicology and clinical data. Since the CTA was approved, Oncolytics and the NCI have worked together to select cancer indications and suitable development programs.
We seek Safe Harbor.
RBM.V NR today .55 - 67.7M shares
Response 's Ramp Flu A test shows high sensitivity
2006-01-18 09:14 ET - News Release
Mr. Don Bradley reports
INDEPENDENT EVALUATIONS CONFIRM SUPERIOR SENSITIVITY OF RESPONSE BIOMEDICAL'S RAMP FLU A TEST
Response Biomedical Corp. has confirmed that initial evaluations performed by independent public health organizations demonstrated that the company's rapid Ramp Flu A test had significantly greater sensitivity than existing point-of-care diagnostic products. The company now plans to initiate multicentre clinical trials of its Ramp Flu A and Flu B tests during the current influenza season.
"The Ramp Flu A test has consistently demonstrated sensitivity that is of an order of magnitude higher than available rapid tests," said Dr. Paul C. Harris, vice-president, research and development. "This superior level of sensitivity was also observed in detecting the H5N1 strain of avian flu, which provides confidence Ramp will be a clinically valuable diagnostic tool for both human and animal testing."
"Leading international public health professionals in hospital microbiology labs have expressed tremendous interest in the high-sensitivity Ramp Flu A test as a much-sought-after alternative to both inadequate rapid diagnostics and time-consuming confirmatory lab testing," said Bill Radvak, president and chief executive officer. "There is high demand for a better rapid testing solution to enable early containment of infected patients to minimize human transmission, improve patient outcomes through the timely use of antivirals and reduce the inappropriate use of antibiotics."
Commercially available rapid tests are limited in their sensitivity, which contributes to false negative results and necessitates confirmatory lab testing. The current confirmatory lab test for influenza relies on cell culture, which takes one to two days to obtain a result. Ramp provides clinically relevant information in approximately 15 minutes, well within the 48-hour window of opportunity for administering antiviral therapy.
While more than 85 per cent of all flu cases are type A, the company has also recently completed feasibility and initiated development of a Ramp Flu B test to fully satisfy market demand.
We seek Safe Harbor.
Heads up CVQ.V