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I did not read all of it but at first glance just the cash balance which did not improve and they stated they don't expect any major change in 2007.
Babylon - Are you using it Dubi?
I have become addicted, this is one brilliant program.
Think they had a rather good IPO lately no?
Idit
Dubi he knows this link, we were talking about the full annual report which is Hebrew only look here at the bottom:
http://www.tase.co.il/TASEEng/General/Company/companyMainData.htm?subDataType=0&companyID=001405...
Idit
For 52 pages? good luck or better google luck :)
I sure can Praveen but I don't think it will do you any good since it is written in Hebrew
Hi Praveen,
Sorry for the delay (kids on vacation).
In addition to Dubi's input regarding Procognia:
They published their annual report yesterday and perhaps the figures there are the reason for today's drop.
As for the market cap, PLX has a huge MC and Procognia has a tiny one. It would be logical to presume that the first is over evaluated at the moment and the other is under.
genisi
Not really but Praveen asked very nicely and it is not such a big deal trying.
I remember the slogan:
"Hasber Panecha"
Idit
Good morning Praveen,
Been on the phone with a guy called Ophir who works in Yossi Maimon's department (CFO). He was very polite and told me that they can not give any information beyond what you can find in their SEC fillings. So much for the official input.
genisi.
Roger.
In case talking won't do the trick, may I use unofficial methods?
genisi
The recent jump in PLX did not yet affect Biocell and Marathon which are my way of investing in PLX at TASE.
I'll make a phone call and post an answer to the MC enigma.
TARO- This is nice because it shows that the company is alive.
Reminder- We are approaching the dead line for bids on TARO.
NMTI - >I’m not sure which panel you’re referring to<
That would be the FDA's Circulatory System Devices Panel.
P.S. I feel pain just thinking of some device circulates in my system
NMTI - Are you still watching them?
I read the panel discussion were positive for them, resulting in a reduction in patient enrollment requirement from 1,600 to 1,000 in the PFO trials.
What do you mean MC is wrong? 84M NIS are $21M. Am I missing something or my math is wrong?
I agree they are cheap. I don't think that many investors here really know the value of Procognia and their powerful tools of glycoanalysis. Of course TEVA and Bristol do ;)
Their MC is $21.4M.
Share price is 4 NIS which is less than one $.
Hi Praveen,
As far as I know after asking around, you'll be able to trade on TASE via your bank account in case the bank has a branch in Israel (I know some foreign banks have a local branch here) or you can play the other way around and open an account at an American branch of an Israeli bank.
Which TASE stocks has drawn your attention if i may ask?
genisi
"the science however is certainly worth a thorough look"
So are the people behind the company IMO.
Great headline
Idit
I know Heparin has a huge MC but MNTA might be facing long setback with the FDA while PLX will have the door open. GENZ are selling Glucocerebrosidase for around $1B and PLX's platform is cheaper for production they will capture the market quickly IMO.
Considering PLX agreement with TEVA, it looks like this is just the beginning so $500 is not science fiction.
I don't know if you can buy stocks on TASE, just called my broker firm and they they can't serve non Israelis. I think that can only be done via a bank. Will ask tomorrow (banks are closed now).
I'm curios, when and how did you found out about PLX?
genisi
Hi P,
On the serious side, you are correct regarding the ridicule valuation of PLX. It is no more than a number stuck there after the reverse merge with ORTX. If I am to try and evaluate, I'd say between $250-500M. Anyway, we'll soon find out.
BTW, can you Americans buy stocks at TASE?
"I am in and out of plx"
So it is you! I was wondering who is responsible for those movements
I do not know them. They are cardiologists but are making some waves. They transfect the cells with growth factors and pray for the best.
http://www.mgvs.co.il/about.htm
First Patient Treated With MultiGeneAngio
Novel Therapy for Blocked Arteries
``He had deteriorated to the point where he couldn`t walk for more than five minutes and because the arterial blockage in his leg was diffuse, therapies like a balloon or surgery couldn`t help him,`` says Dr. Moshe Flugelman, CEO of MGVS which developed the therapy that could prevent close to 70,000 amputations in the US alone each year.
Last month at a Michigan hospital, a middle-aged American man, with blocked arteries in his leg that could lead to leg amputation, became the first patient to be treated with a new form of cell therapy that could restore mobility to him and to hundreds of thousands of people suffering from blocked arteries.
``He had deteriorated to the point where he couldn`t walk for more than five minutes and because the arterial blockage in his leg was diffuse, therapies like a balloon or surgery couldn`t help him,`` explains Dr. Moshe Flugelman, a cardiologist and the inventor of the new therapy. ``Inevitably gangrene sets in and we have no choice but to amputate,`` he says, noting that in the United States alone close to 70,000 amputations are performed each year as a result of blocked arteries.
The novel therapy, known as MultiGeneAngio (MGA) was developed by MultiGene Vascular Systems Ltd. (MGVS) of Haifa, a company founded by Dr. Flugelman and Dr. Basil Lewis in 2000. The technology is named after the conceptual breakthrough that it represents – the use of more than a single gene and cell type.
The procedure harnesses cells taken from the patient`s own body, processing them in a lab and then injecting them back into the patient. The empowered cells are designed to trigger a process of angiogenesis whereby small arteries become bigger, enabling a higher blood flow to the leg. The same therapy can be used to improve blood supply to the heart muscle in patients with blocked coronary arteries.
In the case of the Michigan patient, a vein was stripped from his arm in January to serve as an autologous cell source. Then, a team of scientists from MGVS in collaboration with clinicians and researchers at the Medical Center of the University of Michigan at Ann Arbour isolated the required cells from the vein and processed them. Dr. Blake Roessler who is the head of the Human Application Laboratory, a GMP facility within the medical center, leads the research team in Michigan. In mid-February Dr. Michael Grossman, a Medical Center cardiologist, injected the patented combination of genes and cells into the patient.
Three weeks later the patient is doing well and Dr. Flugelman and his team are excited. They are confident that they have passed the important first hurdle – the patient has recovered and all the safety indicators are as they should be.
``It will take several weeks to see if the therapy also demonstrates efficacy though this is not the primary objective at this point – safety is – as the initial patient received only a small dosage in accordance with FDA guidelines, `` explains Dr. Flugelman.
In the coming few months another 11 patients will undergo the therapy and after a year`s follow-up the company will be prepared for Phase II trials involving a larger number of patients. If everything goes as expected the product could be on the market by 2011.
This may not be exactly around-the-corner but with no alternative on the horizon, MGVS is positioned to be a leader in the treatment of peripheral arterial disease and coronary artery disease.
The company business model is based on setting up cell processing centers in collaboration with leading medical centers.
The company has made rapid progress during the past six years, working with a limited budget of just $7 million. Dr. Flugelman credits the years he spent as a researcher at the NIH during the early nineties as paving the way. ``I gained an understanding of the science behind gene therapy from some of the pioneers in the field, leading scientists like French Anderson, Stephen Epstein and David Dichek ,`` he recalls.
Back in Israel Dr. Flugelman continued his reseach through academic grants, eventually founding MGVS in the Naiot Incubator in order to commercialize the technology.
MGVS achieved another important milestone recently when the FDA approved a Phase I study for a second company product. Known as MultiGeneGraft, the tissue- engineered product is intended to improve bypass surgery. The product is derived from the same platform technology as MGA and also is being developed in collaboration with the University of Michigan at Ann Arbour and the University of Pennsylvania.
The company has several other products in its pipeline that utilize breakthroughs in protein therapy as well as cell and gene therapy, and that aim to improve stent and other devices.
Dr. Flugelman, who continues to work as a cardiologist at the Lady Davis Carmel Medical Center in Haifa, is well-familiar with the difficulties faced by many patients who can`t be helped by currently-available therapies. ``What we are developing is an opportunity to save patients from amputatons and other severe consequences of cardio-vascular disease.``
You might want to watch Biocell and Marathon for an entry point as they both hold some % in Protalix. I own them both. Did not buy PLX yet.
Idit
Dubi for the time being PLX's share price is meaningless because no one knows its Market cap. I think they will issue shares soon, starts to trade with some vol and than we'll see.
Idit
"the company may turn positive"
Or I will have a very nice tax loss...
Happy PESHAH.
Idit
I guess investors did not read this mighty headline because TARO actually finished 8% up yesturday.
Not much new, but it is very good that all is out and it is crystal clear that TARO's management sucks big time. Finlay they admit it and start doing something about it.
My guess is that they will be bought by Perigo for some $500M.
>provided that production cost for the recombinants is low enough<
I think (and hope) that recombinant are cheaper because they do not rely on blood donation however, If OMRI,KAMADA and alike are clever, they can compete by discounting their product considerably.
So basically do you think that all plasma-derived therapeutics like OMRI has will be replaced in the future by synthetic, genetic-engineered therapeutics? That is my view but it might take a few years.
They say that their business model is to acquire potential drugs via in-licensing agreements with its inventors, develop the projects in house and out-licensing if needed.
Agree, the backlog and revenues show strength. There is a plan (that will cost $16M) regarding Elisira but I don't know how long will it take before it will become profitable.
The only problem is Elbit's gross margin which was quite low- 21.4%. It is 25.5% excluding Elisra.
I guess TEVA needs a pause to burp after the last acquisition...
Idit
The first enigma is who will be the buyer but I wonder what will such acquisition do to TEVA's stock price?
Evolution: ORTX.OB-PXTB.OB-PLX
Protalix BioTherapeutics, Inc. to Commence Trading on the American Stock Exchange
Fri Mar 9, 7:05 AM
CARMIEL, Israel, March 9 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (OTC Bulletin Board: PXBT.OB) today announced that its common stock has been approved for listing on the American Stock Exchange. Protalix's common stock is expected to commence trading on the American Stock Exchange under the ticker symbol PLX on Monday, March 12, 2007. Protalix has selected Weiskopf Silver & Co. as its specialist.
David Aviezer, Ph.D., President and CEO of Protalix said, "This listing represents a significant milestone for Protalix following the completion of our merger with Orthodontix, Inc. We believe that listing our shares on the American Stock Exchange will provide us with an effective outlet through which to communicate continued progress in our clinical development and the anticipated commercialization of our products under development."
Dr. Aviezer added, "I am confident that our listing on a national stock exchange will benefit our shareholders through improved visibility and liquidity for our shares. We are pleased to have qualified for this listing, and look forward to a long and mutually beneficial relationship with the American Stock Exchange."
This approval is contingent upon Protalix being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if Protalix is not in compliance with such standards.
About Protalix BioTherapeutics, Inc.
Rosetta Genomics underwriters exercise green shoe option
562,500 shares were sold for $3.66 million.
Gali Weinreb 8 Mar 07 14:51
Rosetta Genomics Ltd. (Nasdaq:ROSG) has closed the sale of an additional 562,500 shares for $3.66 million to the full exercise of the over-allotment (green shoe) option granted to the underwriters of its IPO.
C.E. Unterberg, Towbin LLC was the lead manager and the sole bookrunner of the offering, and Oppenheimer & Co. Inc. was co-manager. Including the green shoe option, Rosetta Genomics issued a total of 4.3 shares for total gross proceeds of $30.2 million, before commissions and expenses, and net proceeds of $26.2 million.
Rosetta Genomics is currently traded at $8.27, up from its IPO price of $7 a week ago. The company had planned to hold the offering at $7.50-8.50 per share, but failed to reach the lower threshold. However, it is now traded close to the upper threshold of the planned IPO price, giving a market cap of $92.2 million.
The company first attempted to hold its IPO in October 2006 at $11-13 per share, but the market offered only $6 per share, and the offering was cancelled. The second, successful, attempt was made three months later. During the interim, the market was prepared to offer a higher price for the company, which was willing to accept a 35% discount on its planned price. The comprise appears to have benefited all parties so far.
Published by Globes [online], Israel business news - www.globes.co.il - on March 8, 2007
I'm fine thanks for asking, watching for entry points in the declining market...
Idit
ROSG - BTW, This is their second try, first attempt to IPO was back in Sep at $11-$13 a share which was called off.
WR Hambrecht: Asiphex will up Teva profit $0.18 per share
WR Hambrecht gives a target price of $50: The drug will add $1-2 to Teva’s share price.
Amir Keidan 25 Feb 07 13:57
WR Hambrecht & Co. says that the US Food and Drug Administration (FDA) marketing approval for Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) to produce generic Aciphex (Rabeprazole Sodium) could add $151 million revenue and earnings per share of about $0.18. WR Hambrecht gives Teva a “Buy” recommendation at a target price of $50, saying that generic Aciphex could add $1-2 to Teva’s share price .
According to IMS data, Aciphex has about 7% the gastroesophageal reflux disease (GERD) market, with an estimated annual revenue of $1.3 billion
WR Hambrecht says that these figures are based on a number of assumptions: launch of the drug this year, with Teva either winning its lawsuit for the product outright in the final court hearing on March 5, or launching the drug at risk; a 30% price discount after a successful launch, capturing 80% of the existing Aciphex market with a 40% market share erosion; and one other generic authorization. After the six-month exclusivity period, the erosion in market share will become significant.
WR Hambrecht noted that Teva included generic Aciphex in its list of 30-40 new approvals in its guidance for 2007.
Published by Globes [online], Israel business news - www.globes.co.il - on February 25, 2007
If i read this correctly http://www.secform4.com/insider-trading/1060736.htm
The B brothers and JP Morgan are selling big time and not surprisingly the stock declines.