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On LOR.TO news
TORONTO, ONTARIO--(Marketwire - Nov. 10, 2008) - Lorus Therapeutics Inc. (TSX:LOR - News; "Lorus" or the "Corporation"), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced the successful completion of toxicology studies for its lead small molecule LOR-253 anticancer drug, formerly known as LT-253. LOR-253 represents a new targeted approach in cancer drug development, by inducing KLF4, a tumor suppressor factor that is reduced in a variety of important cancers.
Norman
Lorus is now trading as LRUSF.PK.
Norman
It looks like that soon there will be some new standards
on mobile TV.
"HOLLYWOOD, Calif. — Proponents of over-the-air digital TV are gearing up for new mobile and Web offerings that could hit as early as next year. But even some implementers admit the effort faces a host of daunting challenges.
With the rise of cable, satellite and IPTV services, over-the-air TV has declined to use by a small subset of typically rural and low tech households. But the Advanced Television Systems Committee (ATSC) which manages the U.S. digital TV specification aims to inject new life into the technology with a wave of standards in progress.
The first and most ambitious of these is a standard for sending over-the-air TV transmissions to mobile devices including cellphones, media players and car navigation systems. The ATSC plans to vote on a final mobile standard on November 25 and launch initial services in 2009.
Broadcasters could cash in on a whopping $2 billion advertising market if they can reach the estimated 200 million video-ready mobile devices expected to ship in 2008 alone, said Glenn Reitmeier, vice president of technology policy, strategy and standards at NBC Universal and chairman of ATSC.
"I don't know where else you can find $2 billion in growth in a fairly mature TV market," Reitmeier said in a presentation at the annual technical conference of the Society of Motion Picture and Television Engineers here.
"We think there is a very bright future for over-the-air TV, and the ATSC is launching a second wave of major standards to address it," said Jerry Whitaker, vice president of ATSC in a separate talk."
Norman
OT I sent your post to a friend who runs marathons. He gave me an interesting reply when I asked about calorie use.
"That's fascinating to read of something new in the world of science that didn't have to come from the depths of the universe to be amazing.
Let's see about the calories. 50% of a 1.5 pound bird is fat at departure. So that's 0.75 pounds which is burned off completely. Now assuming that that's their only source of fuel for the flight, at 3,500 calories per pound of fat, they'd each be burning 2,625 calories.
Interesting number. A 160 pound man burns 100 calories per mile whether walking or running (the latter balances the higher burn rate by getting the mile over with sooner). A marathon is 26.2 miles, so this person would burn, over the course of a marathon, the same number of calories as the godtwit over the 7,000 mile migration.
Now the man weighs about 107 times as much as the bird. So the man running the marathon is like the bird running 2,795 miles. So it appears that while flying the 7,000 miles, the godtwit is about 2.5 times as efficient as a human running."
Norman
Todays news is hopeful. It sounds like ZOR Pharma is going to develop and market Virulizin. If a big pharma could synthesize this drug, I believe they could produce and sell a very cheap and effective anti-cancer drug that would cost about 1/1000th of the modern high tech monoclonal antibodies. JMHO
"TORONTO, ONTARIO, Oct 15, 2008 (MARKET WIRE via COMTEX) -- Lorus Therapeutics Inc. (TSX: LOR)(NYSE-A: LRP)("Lorus"), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced that it has received a milestone payment of US$150,000 from Zor Pharmaceuticals LLC ("ZOR"), a subsidiary of Zoticon Bioventures Inc., as it has achieved the milestone of raising the first tranche in financing for the development of Virulizin(R). This will bring the total payment to Lorus to $250,000.
Lorus also announces that Central America has been added to the territories covered in the exclusive licensing agreement with Zor Pharmaceuticals. Due to the extension of the agreement, Lorus will receive an additional US 2 million dollars upon achievement of specific developmental and sales milestones in addition to royalties on sales. The total potential milestone payment from the Virulizin Licensing agreement now exceeds US 12 million dollars.
"The receipt of the initial milestone payment from ZOR is evidence that the market is interested in the continued development of Virulizin(R)," said Dr. Aiping Young, President & CEO of Lorus. "Not only is there a strong potential for Lorus to achieve significant revenues from this license agreement, it is a validation of the company's dedication to the ongoing development of intellectual property - innovations within cancer treatment that Lorus will continue to bring to market from its various active research streams"
Norman
LRP is leaving.
Lorus will only be on the Toronto exchange after Oct 30, as I read their latest PR. It also seems that the Amex is changing its name too. I did not know that. To NYex [?]
Norman
Preventive medicine and preventative care
I agree that preventive medicine is more than promoting healthy habits, but a key is early and accurate diagnosis of patient's real illnesses. I think incremental costs of diagnosis will be paid for by lower cost of earlier treatment.
Norman
A clip from CEATEC about a phone concept. Separate display and keyboard. Apparently it draws attention at CEATEC [in Japan]
http://www.eetimes.com/showArticle.jhtml;jsessionid=LPT2ZJR3RQR0YQSNDLRSKH0CJUNN2JVN?articleID=210604959
Norman
A bit if information about the siaze of CEATEC
"Digital Convergence -- Onward to a New Stage
CEATEC JAPAN will highlight the new worlds unlocked by digital convergence.
As the industry enters into a new world, thanks to the many innovations and developments made possible by digital convergence, the real effects on both peoples' lifestyles and society as a whole are becoming apparent. This fresh phase in the industry has been born by the convergence of devices, hardware, software, services and contents, and it sets the stage for excellent business opportunities to expand markets and attract new users.
CEATEC JAPAN 2008 will provide exhibitors and visitors alike with the opportunity to fully appreciate the potential offered by the new stage of digital convergence.
Size of the event
This year, a total of 804 exhibitors (289 foreign exhibitors from 27 countries/regions) using 3,121 booths will be participating and approximately 210,000 visitors are being expected during the event. [2007 data: 895 exhibitors (348 foreign exhibitors from 20 countries/regions) using 3,199 booths; 205,859 visitors].
Tuesday, September 30th, 2008: Various opening-day activities featuring industry executives are being planned"
Norman
MVIS and margin accounts
There has been quite a bit of talk on MVIS boards about the heavy short position.
I saw this note today on another board.
"INCREASE IN MARGIN REQUIREMENT FOR SMALL-CAP STOCKS
Effective 12:00 (noon) on Monday 29 September, margin rates for many stocks with low market capitalization (under $100 million USD) will increase from the default margin requirements [maintenance margin @ 25%, initial margin @ 50%, short margin @ 30%]. The new minimum margin requirements for these small-cap stocks will be: * maintenance margin: 100% (non-marginable) * initial margin: 100% * short margin: 100%"
It sounds like people who use margin to establish short positions (if there are any such) will have to put up more money next week.
Norman
I found today a multi-page presentation by Lorus to Seeking Alpha.
It contains a lot of information about plans and status.
http://seekingalpha.com/article/95037-lorus-therapeutics-inc-wall-street-analyst-forum-presentation-transcript?source=yahoo&page=1
I think anyone interested in Lorus should read it.
Norman
I received 3 packets of material about the LRP offer today.
Says I have until August 6 to "reply", which should be plenty of time.
I have only scanned the papers, I own LRP in three accounts, margin, cash, and an IRA. My inclination is to do nothing. With good news I think I could get back even.
Norman
No, I have seen nothing yet (7/23). Are you a US resident or Canadian? I am US.
Norman
LRP has put out a PR on Virulizin which I found encouraging.
Here are some exerpts
Lorus Therapeutics Provides an Update on Progress in Virulizin(R) Development Program
Wednesday July 9, 8:00 am ET
http://finance.yahoo.com/q?d=t&s=LRP
"TORONTO, July 9 /PRNewswire-FirstCall/ - Lorus Therapeutics Inc. (TSX: LOR, AMEX: LRP) ("Lorus" or the "Corporation"), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced progress made in the Virulizin® development program, including the publication of two research studies on the Virulizin® mode of action and the issuance of a new patent for Virulizin® in Mexico......
Virulizin® has demonstrated significant anticancer activity against a wide range of human cancers in preclinical studies, and has been tested in several clinical trials in solid tumor indications, including a Phase III clinical trial in combination with gemcitabine in locally advanced and metastatic pancreatic cancer. Lorus has reported that the overall survival data in this Phase III study did not reach statistical significance, although exploratory analysis yielded promising results in specific patient populations including in patients with ECOG performance status of 0 or 1."
.....
Virulizin was tried in Mexico with some success against melanoma, but they never finished the effort to get it to market, they were partnered with an Austrailian drug company at the time and the partner could not deal with the Mexican government properly [money talks]. "their culture is incompatible with our standards" is what the Aussie CEO said.
I think LRP can find a way market Viruizin in Europe and Mexico, and it will work quite well and be inexpensive.
Norman
More on LOR 2040
Phase I LOR 2040 results
"Lorus Therapeutics announces publication of a clinical study demonstrating "encouraging results" with LOR-2040 in combination with Cytarabine in patients with acute Myeloid Leukemia (LRP) 0.10 : Co announces publication by an Ohio State University clinical team of a paper entitled "Phase I Study of GTI-2040". This was the first clinical study in AML with GTI-2040, now known as LOR-2040. All patients in the study received LOR-2040 and high dose cytarabine in therapeutic doses within a dose escalating design, which determined a well-tolerated recommended Phase II dose. The authors have also now reported for the first time that outcomes of complete response were associated with high pre-treatment levels of R2, which were statistically significant compared to nonresponders. This finding suggests that pre-treatment R2 levels may be a predictor of response, and provide a possible basis for treatment stratification to LOR-2040 and high dose cytarabine combination. Favorable disease responses included complete responses in 35% of the 23 patients and significant cytoreduction of leukemic blasts in two others. The authors concluded that LOR-2040 in combination with high dose cytarabine is feasible, is active against its target R2, and "holds promise in younger patients with refractory or relapsed AML"
A ways from making money, but progress.
Norman
Insider Trading
People on another MVIS board are talking about the apparent small amount of buying of the stock by employees.
Some years ago, an engineer working for Texas Gulf Sulfur [since absorbed, I believe] found a very rich deposit of sulfur. He made various tests and determined it was very large and of high quality.
He wrote up the details and submitted it to management. They were very pleased, gave him a bonus, and decided they would not make a public announcement of the find until the stockholders meeting which was upcoming.
The engineer bought some stock in the company.
After the news came out, the stock price did go up.
Subsequently, the SEC found out about his stock buy and charged him with trading on inside information, confiscated his profits, and fined him.
His case ultimately went all the way to the Supreme Court, the engineer saying he was just an employee, had nothing to say about what the company did.
But the Supreme Court upheld the SEC. They said his technical knowledge about the find was such that he knew or ought to have known it would have a significant effect on the price of the stock when it became public knowledge. So he could not legally buy it until the public had the information.
So if the MVIS device is really significantly better than the competition,
and the engineers know it, they could be doing insider trading by buying now.
A lttle "far out" as a hypothesis I admit. But possible,I think.
I have always felt bad about that poor TGS engineer. He did an excellent job for the company, and it cost him money.
Norman
Short interest
MVIS short interest increased about 200 thousand to 6,108,957 last period.
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=MVIS&symbol=IMGN&selected=MVIS
It is interesting that the average daily trading was only 272 thousand, only once in the past year has it been lower (at 271 thousand). Has been over a million a few times. This is a monthly average.
IMHO people are waiting to see when MVIS starts to deliver product.
Norman
Tommy
A post on another IH board provides more follow up on the negative slant in Seeking Alpha
In the small cap space, one name saw a surprising decline caused by what the Company called,
‘enormous inaccuracies’. Microvision, Inc. (MVIS) is a technology Company focused on the miniature
display and imaging engines based on integrated photonics module technology platform.
In layman’s terms, the Company is developing a small projector to be incorporated into handheld
devices to display photos, movies, or presentations.
A blog post on Seeking Alpha had many investors up in arms over the information provided by the
author who disclosed he works for a hedge fund that is short the stock. According to the poster,
MVIS will delay their shipment date and will reportedly be beat to the market by a Texas Instruments
product. The poster also speculates that MVIS will have to raise cash in the coming quarter
at terms made by new investors since the Company has failed to produce the device in time.
"Following the blog’s posting, shares fell from Friday’s close of $3.41 to lows of $2.70 before
rebounding somewhat after the Company responded. According to a Fly on the Wall report who
quoted the Company’s Director of Communications, Matt Nichols, the post had ‘enormous inaccuracies’
and the Company was in the process of meeting milestones of limited introductions in
2008 with large volume production in 2009. Following that report, shares bounced off lows and
closed at $3.01, down over 11% on the day."
The sharp drop probably triggered "stop loss" actions for some MVIS investors. Might have been the real purpose of the blog. But following advice of a poster whom you don't know is risky, including mine.
Norman
Europe grants Orphan Drug status
"TORONTO, June 23 /PRNewswire-FirstCall/ - Lorus Therapeutics Inc. (TSX: LOR, AMEX: LRP) ("Lorus" or the "Corporation"), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced that its lead Clinical drug, LOR-2040, has been granted Orphan Drug status for the treatment of Acute Myeloid Leukemia (AML) by the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMEA)"
They are currently on PH !!, this should smooth and speed up path to approval.
Norman
A rather unfavorable report by "Seeking Alpha" on MVIS. They are a hedge fund short on MVIS according to the last line of the report.
Probably influences their stand.
http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=yahoo#comment_form
Last week, Texas Instruments (TXN) and Optoma unveiled their pico projector at the InfoComm show. While to many not familiar with ‘pico projection’ this appeared to be an innovative new product, however to investors of Microvision (MVIS), this is the Death Star.
Microvision is a $200 million market cap company that has posted less than $16 million in sales in each of the past 10 years. In 2007, sales were only $10.5 million and EBIT was a negative $27 million, which was an improvement from 2006s $7 million in sales and a negative $29 million EBIT.
For the past 18 months, MVIS management has been promising to deliver a projector that will ultimately fit inside a cell phone. Texas Instruments just beat Microvision to the market (by at least 6 months). While one can debate whether or not there will ever be a market for a mobile projector with less than 500 lumens (low-end business projectors produce 1,000 lumens), one cannot argue the quality differences between Texas Instruments/Optoma’s product and that of Microvision’s ‘Show’.....
...In the best case scenario, Microvision will proceed to its plan and in 6 months get a firm purchase order which it will then be able to hold up to investors as a basis for additional funds.....
Investors in Microvision need to see the light and realize that the dream is rapidly becoming a nightmare.
Disclosure: Author works in a hedge fund that is short Microvision
I personally am long on MVIS and don't agree with their negative view.
Norman
I really don't think I "understand it" well enough to predict the plan's [the rights offering] effect on either Canadian or American stockholders. I do feel it could be beneficial to the company, so it would help both classes if that is so.
But that maybe just a hope.
Norman
I can't say that I "know what this PR means"
But I think this part of it is critical>
"The Corporation will make a further announcement with respect to these matters at the time of filing of the final prospectus...
.....The Corporation believes that certain insiders of the Corporation may exercise their Rights issued under this Offering.
I think the "certain insiders" are planning to buy a significant amount of stock.
I don't know what they will pay for the shares. Can't guess why they are doing this in such a unusual way.
Norman
The 3G iPhone wil be ready for sale on July 11. It sounds like it will have capabilities that business users might want a projector to display the data it can accesss.
"As expected, Apple (NasdaqGS:AAPL - News) unveiled a high-speed version of its smart phone. The 3G iPhone, which will go on sale July 11, features GPS and costs less than the original, priced starting at $199. Apple also revealed a MobileMe online service for synchronizing applications that costs $99 a year. Apple shares fell 2%. BLACKBERRY maker Research In Motion (NasdaqGS:RIMM - News) wasn't fazed, rising 2%.
Apple today launched its widely rumored MobileMe service, described as "Exchange for the rest of us." Mac, Windows, iPhone and iPod users with MobileMe accounts get e-mail, calendars, and contacts pushed to all devices; an update on one device automatically gets sent to the others. On Macs, it works with Mail, Address Book, and iCal; Windows users integrate with Outlook.
A Web 2.0 service provides a "desktop-like" experience to work with all data from Me.com, including contacts, galleries, iDisk access, and more. Users on iPhones can take photos and upload them directly to MobileMe. Full computers have an experience that allows "skimming" photo albums and events similar to iPhoto; users can drag and drop calendar entries and create those as well as contacts, messages, and other content from the web.
The service works with any modern web browser and costs $99 per year for 20GB of online storage for content; a 60-day free trial lets users test the service. A family pack is available for $149, while additional 20GB storage packs are available for $49. MobileMe replaces .Mac and will automatically upgrade users, including their e-mail addresses. The service is available today from the online Apple Store."
I am not a software expert, I won't need one of these iPhones.
Norman
Small projector from a different company.
Links to Oculon pocket projector information
http://210.241.128.64/company_info.shtml?comno=27313069&showno=2008NSC1015
http://www.oculon.com.tw/en/products/pro-type.aspx?pid=2
I posted this on a different MVIS board and it was removed.
Curious if it stays here.
Norman
There was a single after hours trade of 275 shares at 7:17.
Probably a mistake.
Norm2
I refined my search on Yoon Lee and searched for Yoon Lee AND Lorus.
I found 12 citations of a technical nature. Here is one.
http://www.ncbi.nlm.nih.gov/pubmed/17673150?dopt=Abstract
It is apparent he is a reasonable candidate for VP of research.
Norm2
Management Additions
TORONTO, May 5 /PRNewswire-FirstCall/ - Lorus Therapeutics Inc. ("Lorus") (TSX: LOR - News; AMEX: LRP - News), a biopharmaceutical company dedicated in the research, development and commercialization of pharmaceutical products and technologies for the management of cancer, announced today that it has strengthened its senior management team with the appointment of Dr. Saeid Babaei to Vice-President of Business Development and Dr. Yoon Lee to Vice-President of Research. Both will serve as members of Lorus' senior management team.
I found a little info on Saeid Babaei [technical publications] but nothing on any Yoon Lee that might be a VP of research in biotech.
Norm2
I am still holding some, I have been in it for many years, have sold and rebought several times. I think it was called "HVAX" when I first bought it.
I am waiting to see if CoFactor will be continued.
Norm2
Since this PR is from April 8th, it is not really "news" on April 25th.
But it is the most hopeful thing the company has said about Virulizin in quite a while, I guess about 2 years.
The company conference call after this release said that they were not going to give any details about scheduled events "at this time" or words to that effect.
Since ASCO is a technical conference I doubt that they would say much there either. I think we will have to wait until the annual meeting in September to learn more.
Norm2
There was a big drop in price and rise in volume that came at the close of trading today. Tomorrow may bring news that explains why this happened. I have no clue.
Norman