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Wow, SL I'll find you somewhere out there. Thank you for all you have contributed and taught so many. I share your sentiments for this site and haven't been posting here myself for a while. After Freto's suspension it looked like it was going in the wrong direction.
Congrats to you for standing up for your beliefs. It's a shame that the hub is loosing another one of the great ones. God help those that remain.
G evening all, hope everyone is pulling a little green out of this sea of red. ABK under 2? wow.
Had to take a few days off to take a clearer look at this market. Looks like I might take a couple days more lol
IDGI, volume drying up,. does this pos still have bounce potential?
G morning all. GL
GM all, groundhog day again
Gm all and GL.
(nasd) CNXT $0.443Conexant-CNXT announces 1-for-10 stock split
Monday, June 02 2008 - 8:14
$-0.007 (%-1.56)
(nasd) CPST $3.79Capstone Announces First Order for New C1000
Monday, June 02 2008 - 8:01
$-0.01 (%-0.26)
CHATSWORTH, Calif.--(BUSINESS WIRE)--
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems announced today that it has received an order from its Russian distributor Banking Production Center ("BPC") for two C1000 MicroTurbine(R) systems to be installed in a new caviar farm in Russia. The order also included one C200 system to be installed in the Ukraine, and two C65 microturbines to be installed in Belarus. The total order value exceeded $2.0 million.
"The amount of interest and the number of inquiries we have been receiving since we announced the C200 and C1000 products is most encouraging," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "It was not surprising that our first C1000 order should come from one of our marquee distributors," Crouse added.
"We have been delighted to be working with BPC and we are excited to be associated with such a leading company in the Russian energy sector," said Tony Hynes, Capstone's Vice President, Sales & Marketing, Europe, Middle East, Africa and India. "BPC has had great success in deploying our microturbines at businesses ranging from commercial office complexes, shopping centers, telecommunications facilities, hotels and a ski resort, among others," added Hynes.
Commenting on these new orders, Capstone President and CEO Darren Jamison said, "Obviously, I am delighted with this order for our first two C1000 systems on the eve of our participation at PowerGen Europe in Milan, Italy. At the show this week we will showcase one of our preproduction C200 units that will be delivered to a customer in Germany at the end of the show."
The C1000 platform applies the same dependable technology found in Capstone's 30 kW and 65 kW products. The new robust megawatt power system, based on Capstone's C200 microturbine product line will be configured in a single 30 foot long ISO container and will provide the same low emissions and low maintenance benefits in a compact footprint. In addition, every installed C1000 Capstone microturbine solution is equivalent to removing up to 700 average U.S. passenger vehicles from the road, based on EPA emissions and efficiency data for the average US power plant and average passenger vehicle, or the equivalent of planting 730 acres of pine and fir forest, based on CO2 reductions.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com; NASDAQ:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 4,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged over 19 million of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2000 and ISO 14001:2004 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Bath, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about new sales opportunities for Capstone for its products including the C1000and C200 MicroTurbines(R) and the environmental and maintenance benefits of these products. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
Source: Capstone Turbine Corporation
(nasd) IRSN $0.3493 Irvine Sensors Developing Battery Replacement Technology
Monday, June 02 2008 - 8:01
$-0.007 (%-0.20)
COSTA MESA, Calif., June 2 /PRNewswire-FirstCall/ -- Irvine Sensors Corporation (Nasdaq: IRSN) today announced that it is developing a proprietary micro-electromechanical system ("MEMS") device usable for portable power generating units that could replace batteries. Dubbed the Microcombuster(TM) power supply by Irvine Sensors, the heart of the system under development is a miniature internal combustion device that burns lighter fluid or other common combustibles and is reusable. The Microcombuster is projected to have significantly greater energy density than Lithium-Ion batteries in a comparable size and form factor. The Irvine Sensors development program is focused on potential military applications and is supported by various government agencies. With the increasing reliance on portable electronic equipment by modern military forces, battery supply and replacement is a major logistics and economic challenge. It is estimated that a U.S. soldier expends about one AA battery per hour in combat. In the government's fiscal 2003 and 2004, approximately $425 million was spent on batteries for use by individual soldiers.
If development milestones are successfully achieved, Irvine Sensors expects to have pre-production prototypes of the Microcombuster suitable for military applications before the end of 2009. Deployment for military uses is expected to result in economics suitable for widespread commercial application.
John Carson, Irvine Sensors' CEO said, "Throw-away batteries are a major source of environmental waste and current reusable ones are inefficient. The Microcombuster addresses both of those concerns and puts us on the threshold of some major market opportunities."
Irvine Sensors Corporation (http://www.irvine-sensors.com), headquartered in Costa Mesa, California, is a vision systems company engaged in the development and sale of miniaturized infrared and electro-optical cameras, image processors and stacked chip assemblies, the manufacture and sale of optical systems and equipment for military applications through its Optex subsidiary and research and development related to high density electronics, miniaturized sensors, optical interconnection technology, high speed network security, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This message may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "think", "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, our ability to meet the developmental requirements of the Microcombuster system. Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, the availability of sufficient working capital to support fulfillment of our contracts; government budgetary considerations and the timing of government billing and procurement practices; the timing, rescheduling or cancellation of our Microcombuster development contracts; our ability to specify, develop, complete, introduce, market and manufacture new technologies and products in a cost-effective and timely manner; evolving technology and industry standards, and our ability to adapt to and integrate any necessary changes to comply with such new technologies or standards; the availability and pricing of competing technologies and products and other competitive pressures; the effects of international conflicts, natural disasters, public health emergencies and other events beyond our control; and the general economic and political conditions and specific conditions that may impact our operations. Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (http://www.sec.gov).
SOURCE Irvine Sensors Corporation
(nasd) CNXT $0.443Conexant Confirms Guidance for the Third Fiscal Quarter and Provides Expectations for the Fourth Quarter
Monday, June 02 2008 - 8:01
$-0.007 (%-1.56)
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Conexant Systems, Inc. (NASDAQ:CNXT) today announced that it expects financial results for the third quarter of fiscal 2008 to be at the high end of the guidance range established entering the quarter. The company also provided guidance for the fourth fiscal quarter based on the expected performance of its two continuing businesses, which consist of Imaging and PC Media and Broadband Access. On April 29, 2008, Conexant announced a definitive agreement to sell its Broadband Media Processing product lines to NXP Semiconductors for up to $145 million. That transaction is expected to close within approximately 45 days.
In addition, the company announced today that it plans to execute a reverse stock split at a split ratio of 1-for-10, effective after the close of trading on June 27, 2008.
Third Quarter Fiscal 2008 Expectations
Entering the third quarter of fiscal 2008, the company expected revenues to be in a range between $167 million and $171 million, core gross margins to be between 44.5 percent and 45.5 percent of revenues, core operating expenses to be in a range between $72 million and $74 million, and core operating income to be in a range between breakeven and $5 million. Including the effects of the reverse stock split, the company anticipated a core net loss of between $0.17 and $0.06 per share.
The company now expects to deliver performance at the high end of the ranges provided for revenues and core gross margins, and at the low end of the range on core operating expenses.
Fourth Quarter Fiscal 2008 Expectations
For the September-ending fourth fiscal quarter, excluding results from its Broadband Media Processing product lines, Conexant expects revenues to be in a range between $115 million and $120 million, core gross margins to be between 49.5 percent and 50.5 percent of revenues, and core operating expenses to be between $45 million and $47 million. As a result, and including the effects of the reverse stock split, the company anticipates core operating income of $12 million to $14 million, and core net income of $0.08 to $0.12 per share.
"Over the past three quarters, the Conexant team has done an outstanding job of reducing operating expenses," said Scott Mercer, Conexant's chief executive officer. "As part of our strategic restructuring, we also exited several unprofitable product segments. When we complete the sale of our Broadband Media Processing assets, we will be a new company with a dramatically improved cost structure, higher gross margins, and lower operating expenses, which is reflected in our expectations for the fourth fiscal quarter."
The New Conexant
The new Conexant will consist of two business units delivering semiconductor solutions for a total available market that is greater than $3 billion today and expected to grow over the next three years. The Imaging and PC Media team will be focused on providing products targeted at high-volume, high-growth applications that include imaging, audio, PC video, and video surveillance. The Broadband Access team will continue to deliver DSL products for client-side and central-office applications, and for higher-speed, next-generation technologies that include VDSL2 and passive optical networking.
The company holds a top-three leadership position in each of the major segments it addresses.
"We are focused on strengthening our market-leading positions by accelerating investments in the areas that offer the best opportunities for profitable growth in the future," Mercer said. "For the next fiscal year, we expect to deliver moderate revenue growth. We also anticipate that we will maintain core gross margins of approximately 50 percent of revenues and deliver additional savings in core operating expenses, which should enable us to generate cash consistently on an operating basis."
Conexant's Reverse Stock Split
In February 2008, Conexant shareholders approved a proposal giving the company's board of directors the authority to effect a reverse stock split. In May, the board approved a reverse stock split at a 1-for-10 split ratio that will take effect on Friday, June 27, 2008 after the close of trading on the NASDAQ Stock Market. At that time, shareholders will be entitled to receive one new share for each 10 shares held, and cash consideration for any resulting fractional shares. All Conexant common stock, stock options, and restricted stock will be proportionally adjusted to reflect the reverse split.
The reverse stock split will increase the per-share trading price of the company's common stock, which is intended to make the stock more attractive to a broader range of investors and satisfy NASDAQ's "minimum-bid" listing requirement.
Investor Presentations
Over the next several weeks, Conexant executives will be presenting information on the company in a series of meetings with analysts, investors, and prospective investors. A copy of the presentation that will be used in these meetings is available on the company's Web site at www.conexant.com. In addition, Christian Scherp, Conexant president, and Karen Roscher, senior vice president and chief financial officer, will make a presentation at Oppenheimer's Annual Communications and Technology Conference tomorrow, June 3, at 11:50 a.m. Eastern time. A live Web cast of the presentation will be accessible on Conexant's Web site. A replay will be available three hours after the conclusion of the Web cast, and will be accessible for approximately 90 days.
About Conexant
Conexant's comprehensive portfolio of innovative semiconductor solutions includes products for Internet connectivity, digital imaging, and media processing applications. Conexant is a fabless semiconductor company that recorded revenues of $809 million in fiscal year 2007. The company is headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Conexant or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.
These risks and uncertainties include, but are not limited to: pricing pressures and other competitive factors; our ability to timely develop and implement new technologies and to obtain protection for the related intellectual property; the cyclical nature of the semiconductor industry and the markets addressed by our products and our customers' products; volatility in the technology sector and the semiconductor industry; our successful development of new products; the timing of our new product introductions and our product quality; demand for and market acceptance of our new and existing products; our ability to anticipate trends and develop products for which there will be market demand; the availability of manufacturing capacity; changes in our product mix; product obsolescence; the ability of our customers to manage inventory; the risk that capital needed for our business and to repay our indebtedness will not be available when needed; the risk that the value of our common stock may be adversely affected by market volatility; our ability to successfully complete and close any pending or planned acquisitions or divestitures on a timely basis; the substantial losses we have incurred; the uncertainties of litigation, including claims of infringement of third-party intellectual property rights or demands that we license third-party technology, and the demands it may place on the time and attention of our management and the expense it may place on our company; general economic and political conditions and conditions in the markets we address; and possible disruptions in commerce related to terrorist activity or armed conflict, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings.
The forward-looking statements are made only as of the date hereof. We undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Conexant is a registered trademark of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.
Source: Conexant Systems, Inc.
(nasd) AEZS $1.45Keryx Biopharmaceuticals, Inc. Announces Poster Presentation Highlighting Observed Clinical Activity of KRX-0401 (Perifosine) at the American Society of Clinical Oncology Meeting in Chicago, Illinois
Monday, June 02 2008 - 7:59
$-0.02 (%-1.36)
NEW YORK, June 2 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that abstracts related to KRX-0401 (Perifosine) have been selected for both poster presentation and publication during the American Society of Clinical Oncology Meeting currently taking place in Chicago, Illinois (May 31 - June 3, 2008).
Copies of these abstracts, which highlight the observed clinical and preclinical activity of KRX-0401 as a single agent and in combination with novel agents are currently available and can be viewed on-line through the ASCO website: http://www.asco.org/ASCO/Abstracts+%26+Virtual+Meeting/Abstracts
The following abstract will be available for viewing during the poster session taking place tomorrow, Tuesday, June 3, 2008, from 8:00am-12:00pm:
Abstract 8546: A Phase 2 trial of the novel oral Akt inhibitor perifosine in relapsed and/or refractory Waldenstrom macroglobulinemia
Investigators: Irene M. Ghobrial, X. Leleu, N. Rubin, R. Leduc, S. Chuma, M. Nelson, P. G. Richardson, S. P. Treon, K. C. Anderson
Following the poster session, lead investigator, Dr. Irene Ghobrial, will be presenting the abstract during the Lymphoma and Plasma Cell Disorders Poster Discussion Forum, scheduled to take place at 12:00pm in Room E450a.
Additionally, the following abstracts have been accepted for publication only:
Abstract 16024: Phase 1 multicenter trial of perifosine in combination with sorafenib for patients with advanced cancers including renal cell carcinoma.
Investigators: M. T. Schreeder, R. A. Figlin, J. J. Stephenson, L. Campos, S. P. Chawla, D. R. Spigel, A. Spira
Abstract 14565: Phase 1 report from a multicenter trial of perifosine (PERI) + sunitinib (SUT) in patients with advanced cancers including renal cell carcinoma.
Investigators: P. Allerton, B. Ebrahimi, M. T. Schreeder, P. Kaiser, S. P. Chawla
Abstract 16083: Preclinical rationale for combination targeted therapy in advanced clear cell renal cell carcinoma (RCC): Abrogation of rapamycin-mediated induction of AKT phosphorylation by perifosine.
Investigators: W. S. Holland, P. C. Mack, D. R. Gandara, P. N. Lara
KRX-0401 (Perifosine) Mechanism of Action and Profile
KRX-0401 (Perifosine) is a novel, potentially first-in-class, oral anti-cancer agent that modulates Akt and a number of other key signal transduction pathways, including the JNK and MAPK pathways, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. The effects of perifosine on Akt are of particular interest because of the importance of this pathway in the development of most cancers, the evidence that it is often activated in tumors that are resistant to other forms of anticancer therapy, and the difficulty encountered thus far in the discovery of drugs that will inhibit this pathway without causing excessive toxicity. High levels of activated Akt (pAkt) are seen frequently in many types of cancer and have been correlated with poor prognosis in patients with soft-tissue sarcoma, gastric, hepatocellular, endometrial, prostate, renal cell, head and neck cancers and hematological malignancies, as well as glioblastoma. The majority of tumors expressing high levels of pAkt were high-grade, advanced stage or had other features associated with poor prognosis. High pAkt is often seen in tumors that are resistant to conventional cancer treatments, including radiotherapy, chemotherapy, endocrine therapy, and especially therapy with some of the newer biologicals.
To date, over 1,700 patients have been treated with KRX-0401 in trials conducted both in the United States and Europe. Its safety profile is distinctly different from that of most cytotoxic agents. It does not appear to cause myelosuppression (depression of the immune system that may lead to life threatening infections), thrombocytopenia (a decrease in platelets that may result in bleeding), skin rash, flu-like symptoms or alopecia (hair loss); all of these toxicities occur frequently with many of the currently available treatments for cancer. The main side effects of perifosine are nausea, vomiting, diarrhea and fatigue, but these are either mild or non-existent in lower doses that have induced tumor regression. Responses have been seen with both daily and weekly regimens. At the doses studied, the daily regimens were better tolerated.
In Phase 1/2 trials, KRX-0401 has induced tumor regressions and/or caused disease stabilization in a variety of tumor types. KRX-0401 has shown single agent partial responses in renal cell and hepatocellular carcinoma, soft tissue sarcoma, GIST tumors, mesothelioma, and carcinoma of the appendix. There is also evidence of activity in hematological malignancies, especially multiple myeloma. Disease stabilization, defined as time on treatment without progression for at least 6 months has been seen in 20 tumor types, including metastatic renal cell cancer, hepatocellular carcinoma, melanoma, carcinoid, prostate, head and neck, breast, and small cell lung cancer. Responding patients, including stable disease, have been treated for various durations up to more than three years.
KRX-0401 (perifosine) is in-licensed by Keryx from Aeterna Zentaris, Inc. (Nasdaq: AEZS; TSX: AEZ) in the United States, Canada and Mexico.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important, novel pharmaceutical products for the treatment of life-threatening diseases, including renal disease and cancer. Keryx is developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex is currently in Phase 2 clinical development for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease, or ESRD. The Company is also developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that modulates Akt, a protein in the body associated with tumor survival and growth. KRX-0401 also modulates a number of other key signal transduction pathways, including the JNK and MAPK pathways, which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 is currently in Phase 2 clinical development for multiple tumor types. The Company also has an in-licensing and acquisition program designed to identify and acquire additional drug candidates. Keryx is headquartered in New York City.
Cautionary Statement
Some of the statements included in this press release, particularly those anticipating future clinical and business prospects for KRX-0401, may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward- looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully complete the Phase 1 and Phase 2 clinical trials for KRX-0401; we may not be able to meet anticipated development timelines for KRX-0401 due to recruitment, clinical trial results, manufacturing capabilities or other factors; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only.
KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5965
E-mail: lfischer@keryx.com
SOURCE Keryx Biopharmaceuticals, Inc.
(nasd) EXTR $3.23Extreme Networks Announces Victory in Patent Litigation
Monday, June 02 2008 - 7:30
$-0.03 (%-0.92)
SANTA CLARA, Calif., June 2 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. (Nasdaq: EXTR) today announced that a unanimous jury in the U.S. District Court for the Western District of Wisconsin has awarded a complete victory to Extreme Networks in a patent case filed against Enterasys Networks, Inc. The jury found that Enterasys Networks had infringed all three of Extreme Networks' asserted patents. Extreme Networks also defeated Enterasys' challenge to the validity of the Company's patents.
These successful results followed Extreme Networks earlier defeat of Enterasys' claims for damages when the Judge determined that the Company did not infringe any of the Enterasys patents in the lawsuit.
"This is another great legal victory for Extreme Networks," said Mark Canepa, president and CEO of Extreme Networks. "After validating our patents, the court found that Enterasys had infringed upon the patents while Extreme Networks had not infringed upon any of the Enterasys patents in the case."
The verdict against Enterasys follows more than one year of litigation, culminating in a two week jury trial.
Gordon Stitt, Chairman of the Board and co-founder of Extreme Networks added, "We are very pleased with the outcome. Extreme Networks has once again defended our Intellectual Property that continues to grow in depth and breadth through the innovative design and engineering upon which we founded the Company."
In addition to the damages awarded by the Jury, Extreme Networks is seeking an injunction prohibiting the infringing Enterasys products from using the patented technology and recovery of its attorney fees.
Extreme Networks, Inc.
Extreme Networks designs, builds, and installs Ethernet infrastructure solutions that help solve the toughest business communications challenges. The company's commitment to open networking sets us apart from the alternatives by delivering meaningful insight and unprecedented control to applications and services. Extreme Networks believes that openness is the best foundation for growth, freedom, flexibility and choice. The company's focus is on enterprises and service providers who demand high performance, converged networks that support voice, video and data over a wired and wireless infrastructure.
The statements in this press release regarding the outcome of litigation, including the seeking of an injunction may be forward-looking statements. The court decisions referred to in this press release are subject to appeal and if appealed the final outcome of litigation may differ from the outcome in the trial court, and the final outcome is subject to risks and uncertainties with regard to future court decisions and the actions of the parties to the litigation.
Extreme Networks is a registered trademark of Extreme Networks, Inc. in the United States and other countries. All other names and marks are the property of their respective owners.
SOURCE Extreme Networks, Inc.
(nasd) IDMI $2.10 IDM Pharma Announces Data Supporting Improved Overall Survival Advantage in Newly Diagnosed Patients with Metastatic Osteosarcoma Treated with Mifamurtide (L-MTP-PE)
Monday, June 02 2008 - 7:30
$0.04 (%1.94)
IRVINE, Calif., June 2 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI) today announced the presentation of an analysis from the Phase 3 mifamurtide (L-MTP-PE) clinical trial (INT-0133). The results suggest that the addition of L-MTP-PE to chemotherapy improved overall survival with a 25% reduction in the risk of death in newly diagnosed patients with metastatic osteosarcoma, a rare and often fatal bone tumor that typically affects children and young adults.
"These data in a difficult-to-treat metastatic patient population are encouraging, especially given the limited treatment options available," said Timothy P. Walbert, president and chief executive officer, IDM Pharma. "We continue to believe the data from non-metastatic patients in the L-MTP-PE Phase 3 study warrants regulatory approval in Europe and the United States and are optimistic that the overall survival benefit seen with L-MTP-PE will be the clinical evidence needed to support bringing this important treatment to market."
The Phase 3 L-MTP-PE trial (INT-0133) is National Cancer Institute (NCI) funded cooperative group study conducted by the Children's Oncology Group (COG) and is the largest study completed in osteosarcoma, enrolling approximately 800 patients. The multicenter, open label, randomized, factorial, four parallel treatment group Phase 3 study was designed to evaluate patient outcomes with the addition of L-MTP-PE to adjuvant three- or four-drug chemotherapy (cisplatin, doxorubicin, and methotrexate with or without ifosfamide).
The analysis evaluated 91 newly diagnosed patients with metastatic osteosarcoma who were treated with one of the chemotherapy regimens with or without L-MTP-PE. At five-years the overall survival (OS) for patients who received L-MTP-PE (n=46) was 53% versus 40% for those who did not receive L-MTP-PE (n=45). Event-free survival (EFS) at five years for patients who received L-MTP-PE was 42% versus 26% for those patients who did not receive L-MTP-PE. While these results showed improvement, the subset was not powered to show statistical significance due to the small sample size.
Update on L-MTP-PE Regulatory Status
In January 2008 the Company announced that following presentation of data at an oral explanation hearing before the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency, the CHMP determined in a non-binding opinion that L-MTP-PE suggested a possible clinical benefit in terms of survival and granted the Company a clock stop, or time extension. The clock stop allows the Company additional time to respond to all the remaining questions regarding the marketing authorization application for L-MTP-PE (MAA). The CHMP has requested clarification of the existing data in order to gain assurance about the quality of the data before drawing any final conclusions from the data presented. In addition, the Company is required to address a number of remaining questions relating to chemistry, manufacturing and controls (CMC) and the Company expects to provide responses and data regarding these issues to the CHMP in advance of its meeting scheduled for June 23-26, although the CHMP may have additional questions or require additional information regarding these issues. In April, the European regulatory authorities conducted an inspection of the Children's Oncology Group (COG) to assess the quality of the overall survival data from the 2006 confirmatory database included in the Company's applications for regulatory approval, and to review Good Clinical Practices compliance of COG in terms of patient randomization and stratification, overall survival data collection, and study monitoring. The Company supported the COG in this effort.
The Company expects to receive a final opinion from the CHMP in the third quarter and a final decision from the European Commission in the fourth quarter of 2008.
As previously announced, in the United States the Company continues to work with the COG as well as external experts and advisors to gather patient follow up data from the Phase 3 clinical trial of L-MTP-PE and to respond to other questions in the non-approvable letter the Company received from the U.S. Food and Drug Administration (FDA). The Company expects to submit the amended New Drug Application (NDA) in the fourth quarter of 2008.
L-MTP-PE was granted orphan drug status in the United States in 2001 and in Europe in 2004. In Europe, the MAA was filed in November 2006 and in the U.S., the NDA was submitted to FDA in October 2006 and was accepted for review in December 2006.
About Osteosarcoma
Between two and three percent of all childhood cancers are osteosarcoma. Because osteosarcoma usually develops from osteoblasts, it most commonly affects children and young adults experiencing their adolescent growth spurt. Boys and girls have a similar incidence rate until later in their adolescence, when boys are more commonly affected. While most tumors occur in larger bones, such as the femur, tibia, and humerus, and in the area of the bone that has the fastest growth rate, they can occur in any bone. The most common symptom is pain, but swelling and limited movement can occur as the tumor grows.
Osteosarcoma is an orphan disease with fewer than 1,000 new cases diagnosed in the United States each year. A similar incidence of the disease exists in Europe. According to the Children's Oncology Group, the survival of children with osteosarcoma has remained at 60-65 percent since the mid-1980s. The standard treatment for osteosarcoma is tumor resection with combination chemotherapy before and after surgery.
About IDM Pharma
IDM Pharma is focused on the development of innovative cancer products that either destroy cancer cells by activating the immune system or prevent tumor recurrence by triggering a specific adaptive immune response. IDM Pharma is dedicated to maximizing the full therapeutic and commercial potential of each of its innovative products to address the needs of patients and the physicians who treat these patients.
As previously announced, the Company is evaluating the Company's research and development programs, including related assets and costs, and strategic alternatives available to the Company.
For more information about the company and its products, visit http://www.idm-pharma.com.
Forward-Looking Statements
This press release includes forward-looking statements that reflect management's current views of future events including the Company's belief that the data from the L-MTP-PE Phase 3 study warrants regulatory approval in Europe and the United States, the Company's plans to address the remaining questions with respect to the MAA for L-MTP-PE during the clock-stop granted by the CHMP, and the expected timing of a final opinion from the CHMP and of a final regulatory decision regarding the MAA in the European Union, as well as the Company's plans to collect, analyze and submit additional Phase 3 data in an amended NDA for L-MTP-PE, including the expected timing for such amended NDA, and to respond to other matters raised by the FDA and the Company's plans to evaluate strategic alternatives. Actual results may differ materially from the forward-looking statements due to a number of important factors, including, but not limited to, whether the Company will be able to respond to the remaining issues with regard to the MAA, including verification of data quality and CMC items, to the satisfaction of the CHMP, whether the CHMP will ask the Company for further information at or following the June 2008 meeting to address remaining issues with regard to the MAA, which would delay the timing of a final opinion from the CHMP, whether the final opinion of the CHMP will be consistent with the non-binding opinion of the CHMP, whether the European Commission will follow the final opinion of the CHMP once issued, whether the timing for the final opinion of the CHMP and the regulatory decision in Europe will occur as expected by the Company, the possibility that additional data from the Phase 3 clinical trial of L-MTP-PE and other information in any amendment to the NDA for L-MTP-PE submitted by the Company may not provide adequate support for regulatory approval of L-MTP-PE in the United States within the timeframe expected by the Company, if at all, whether the Company will be able to manufacture and commercialize L-MTP-PE even if it is approved by regulatory authorities, whether the Company will be able to complete any potential strategic transaction on terms acceptable to the Company's stockholders, and whether the cash resources of the Company will be sufficient to fund operations as planned. These and other risks affecting the Company and its drug development programs, intellectual property rights, personnel and business are more fully discussed in the Company's Quarterly Report on Form 10-Q filed with the SEC for the quarter ended March 31, 2008 and other periodic reports filed with the SEC. The Company expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
SOURCE IDM Pharma, Inc.
(nasd) VION $1.51 Vion Pharmaceuticals Announces Presentation of Data from Phase III Trial of Cloretazine(R) (VNP40101M) and Cytarabine in Relapsed Acute Myelogenous Leukemia at the ASCO(R) Annual Meeting
Monday, June 02 2008 - 7:30
$0.24 (%18.90)
NEW HAVEN, Conn., June 2 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (Nasdaq: VION) today announced that data from the Phase III trial of its lead anticancer agent Cloretazine(R) (VNP40101M) in combination with cytarabine in patients with first relapse of acute myelogenous leukemia (AML) had been presented at the 44th Annual Meeting of the American Society of Clinical Oncology (ASCO(R)) in Chicago, Illinois.
The Phase III trial started in March 2005 and was conducted in 69 sites in North America and Europe. In May 2007, after an interim analysis of 210 patients by the trial's data safety monitoring board (DSMB), the Company suspended treatment and enrollment of patients, and the U.S. Food and Drug Administration (FDA) placed the trial on clinical hold, due to increased mortality in the cytarabine plus Cloretazine(R) (VNP40101M) treatment arm of the study, as compared to the cytarabine plus placebo control arm. In January 2008, the Company announced that the FDA had lifted the clinical hold and that a new trial with a lower dose of Cloretazine(R) (VNP40101M) in combination with cytarabine and increased supportive care measures could be pursued in the future.
The objective response rate of the cytarabine and Cloretazine(R) (VNP40101M) treatment arm of the trial was 37% versus 19% for the control arm. The median response duration was 11.2 months on the treatment arm versus 8.1 months on the control arm. Overall survival was 4.2 months on the treatment arm versus 6 months on the control arm.
The Company reported that on-study mortality (deaths from all causes in less than or equal to 30 days or from adverse events in less than or equal to 60 days from any treatment cycle) was 39% for the cytarabine and Cloretazine(R) (VNP40101M) treatment arm versus 9% for the control arm. Sepsis, pneumonia and infection accounted for 67% of the deaths on the treatment arm.
The most common severe adverse events (Grade 3 through 5) in both arms were hematologic, infectious, and respiratory disorders. The duration of myelosuppression, as well as the incidence of infectious and respiratory adverse events, was higher in the treatment arm as compared to the control arm.
Alan Kessman, Chief Executive Officer, said, "Although this trial was discontinued for safety reasons due to a disparity in on-study mortality between the two arms, in light of the objective response rate of the cytarabine and Cloretazine(R) (VNP40101M) arm, we believe that this combination merits further evaluation in first relapse of AML with modifications to address the observed toxicity and mortality at the studied dose and schedule."
At ASCO(R), data were presented on the first 206 patients treated on the trial. The median age was 59 years and the median duration of patients' first remission was 9.7 months. 139 patients and 67 patients were treated on the treatment arm and the control arm respectively. The demographics of the patients in the treatment arm were essentially similar to patients in the control arm across age, sex, and ECOG performance status.
Mr. Kessman added, "Now that the clinical hold has been lifted by the FDA, we have the opportunity to move forward in first relapse of AML with a revised protocol of this combination. However, our main focus at the present time continues to be on achieving registration for Cloretazine(R) (VNP40101M) in the United States in previously untreated elderly patients with de novo poor-risk AML."
The Phase III trial was a double-blind placebo-controlled randomized evaluation of a treatment arm consisting of cytarabine plus Cloretazine(R) (VNP40101M) versus a control arm regimen of cytarabine and placebo. The trial was designed to accrue patients in first relapse of AML whose first complete remission (CR) was more than three months but less than twenty-four months in duration. Patients were stratified according to: (i) age, greater than or less than 60 years and (ii) length of the first CR, more than or less than 12 months in duration. The primary endpoint for the trial was the objective response rate, defined as CR plus CRp (a complete remission with incomplete recovery of platelet count). Secondary endpoints included time to progression, duration of response, overall survival and toxicity.
Preliminary blinded data for this randomized trial were previously presented at the American Society of Hematology Annual Meeting in December 2006. This was the first presentation of the unblinded data.
About Vion
Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative cancer therapeutics. Vion has two agents in clinical trials. Cloretazine(R) (VNP40101M), a unique alkylating agent, is being evaluated in a Phase II pivotal trial as a single agent in elderly patients with previously untreated de novo poor-risk acute myelogenous leukemia. Clinical trials of Cloretazine(R) (VNP40101M) with cytarabine in elderly patients with acute myelogenous leukemia, with temozolomide in brain tumors, and with stem cell transplantation in advanced hematologic malignancies, are also being conducted. Triapine(R), a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute. For additional information on Vion and its product development programs, visit the Company's Internet web site at www.vionpharm.com.
This news release contains forward-looking statements. Such statements are subject to certain risk factors which may cause Vion's plans to differ or results to vary from those expected, including Vion's potential inability to obtain regulatory approval for its products, particularly Cloretazine(R) (VNP40101M), delayed or unfavorable results of drug trials, the possibility that favorable results of earlier preclinical studies, clinical trials or interim clinical trial data are not predictive of safety and efficacy results in later or final clinical trials, the need for additional research and testing, the inability to manufacture product, the potential inability to secure external sources of funding to continue operations, the inability to access capital and funding on favorable terms, continued operating losses and the inability to continue operations as a result, the possible delisting of the Company's common stock from the NASDAQ Capital Market and a variety of other risks set forth from time to time in Vion's filings with the Securities and Exchange Commission, including but not limited to the risks attendant to the forward-looking statements included under Item 1A, "Risk Factors" in Vion's Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarter ended March 31, 2008. In particular, there can be no assurance as to the results of any of the Vion's clinical trials, that any of these trials will continue to full accrual, or that any of these trials will not be discontinued, modified, delayed or ceased altogether. Except in special circumstances in which a duty to update arises under law when prior disclosure becomes materially misleading in light of subsequent events, Vion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
COMPANY CONTACT: Vion Pharmaceuticals, Inc.
Alan Kessman, Chief Executive Officer
Howard B. Johnson, President & CFO
(203) 498-4210
SOURCE Vion Pharmaceuticals, Inc.
(nasd) DSGX $3.88 First Coverage Secures US$9 Million in Series B Financing
Monday, June 02 2008 - 7:30
$0.02 (%0.52)
BOSTON & TORONTO--(BUSINESS WIRE)--
First Coverage Inc., a leading provider of financial information management solutions to the institutional investment community, today announced it has secured $9 million in Series B funding from a cross-border syndicate of venture capital investors led by Boston-based Commonwealth Capital Ventures. Also included in the syndicate are Boston-based GrandBanks Capital and Toronto-based JLA Ventures, both involved in First Coverage's $5 million Series A round of financing in November 2006. This most recent expansion round will be used to further First Coverage's growth via both product development and geographic expansion, among other activities.
In conjunction with this funding, Commonwealth General Partner Jeffrey M. Hurst will become a member of First Coverage's Board of Directors. Mr. Hurst's addition further strengthens the company's expertise and experience, particularly in the relevant fields of Finance and Software as a Service (SaaS).
"Commonwealth is excited to be joining a team with such a wealth of experience and track record of success," said Hurst. "What this team has already managed to accomplish in just over two years of operation is truly remarkable. It convinced us that First Coverage is on the path toward significantly changing the way the financial industry does business."
Founded in 2005, First Coverage provides the global financial markets with software-based tools developed to greatly increase efficiencies and communication within the investment management process. With its first production client going live in early 2007, First Coverage's user base has grown to nearly 300 firms worldwide in just over a year.
"We are thrilled to welcome Commonwealth and Jeff Hurst to First Coverage's Board of Directors." said co-founder and CEO Randy Cass. "Over the last 12 months First Coverage has seen incredible growth in our user base, customer usage and company revenues, and has clearly solidified our place as the market leader in North America. This latest round of capital will allow us to accelerate growth, expand our geographic reach and deliver even more innovative solutions to the ultimate benefit of all industry participants."
Jeff Parker, current Chairman of First Coverage, founder of First Call and StreetEvents and former CEO of Thomson Financial added, "I've been here before with First Call and StreetEvents and once again see a significant change occurring in the way that the buy-side and sell-side look to interact and gather information from each other. The time is absolutely right for an innovative company like First Coverage to become the new market standard and I'm excited about what we're going to be able to accomplish going forward."
About First Coverage Inc.
Catering to more than 300 financial institutions worldwide, First Coverage provides a web-based platform that simplifies the gathering, evaluation and organization of all sell-side services and information. The First Coverage platform helps buy-side professionals easily and quickly find the information, data and other offered services that best align with their own internal investment process creating greater efficiencies and greater overall performance. For more information, visit www.firstcoverage.com.
About Commonwealth Capital Ventures
Commonwealth Capital Ventures (Waltham, MA) is a venture capital firm focused on software and software-based services, Internet and digital media, communications technology, and instruments and systems investments in the Northeastern United States. The firm's collaborative investment approach leverages the entire team's venture and operating expertise, experience, and contacts to guide portfolio companies through all stages of their development. Since its inception in 1995, Commonwealth Capital has invested in more than 130 high-growth companies. Commonwealth currently manages over $580 million of committed capital across four funds. For more information, please visit http://www.commonwealthvc.com.
About GrandBanks Capital
GrandBanks Capital invests in early stage technology companies located primarily in the eastern part of the United States. With headquarters outside of Boston, the firm was established in partnership with SOFTBANK Corp. and has proven investment expertise in Internet infrastructure, software, security and storage applications, media and wireless technologies and services, and financial services. The GrandBanks Capital portfolio currently includes: Colubris Networks Inc., Coradiant Inc., Ember Corporation, First Coverage Inc., GlassHouse Technologies, Inc., Incipient, Inc., OutStart, Inc., SendMe, Inc., uLocate Communications, Inc, Vela Systems, Inc, Vivox, and xkoto, Inc.. For more information, please visit www.grandbankscapital.com.
About JLA Ventures
JLA Ventures, a private venture capital firm with offices in Toronto and Montreal, is a leading investor in technology companies at all stages of growth. In addition, JLA Ventures is also the co-manager of the BlackBerry Partners Fund. JLA Ventures' past and current portfolio companies include: Triple G Systems (acquired by General Electric), Pixstream (acquired by Cisco), Basis100 (acquired by First American Corporation), Fun Technologies (acquired by Liberty Media Corporation), Servicesoft Technologies (acquired by Broadbase), Isolation Systems (acquired by Shiva), Descartes Systems Group (NASDAQ:DSGX), Bioscrypt (TSX:BYT), Q9 Networks (TSX:Q), VFM, Quickplay Media, MusicIP, HealthUnity, Planeteye, Nstein (TSXV:EIN), ZIP Local (TSXV:ZIP), b5media, First Coverage Inc., I Love Rewards, and Netshelter. For more information please visit www.jlaventures.com.
Source: First Coverage Inc.
(nasd) HNAB $0.79 Hana Biosciences'' Phase 2 Clinical Trial of Marqibo for Metastatic Uveal Melanoma Meets Clinical Response Criteria to Advance to Full Enrollment
Monday, June 02 2008 - 7:05
$0.04 (%5.33)
SOUTH SAN FRANCISCO, Calif., June 2, 2008 (PRIME NEWSWIRE) -- Hana Biosciences (Nasdaq:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, today announced that the pre-specified efficacy criteria to proceed to full enrollment of 30 patients has been met in its Phase 2 clinical trial of Marqibo(r) (vincristine sulfate injection, OPTISOME(tm)) for the treatment of metastatic malignant uveal melanoma.
In accordance with the Phase 2 trial protocol, a complete response (CR), a partial response (PR), or stable disease (SD) sustained for a minimum of twelve weeks by at least one patient among the first 15 treated with Marqibo was required for the trial to advance to the second stage. To date, although 15 patients have yet to be enrolled, more than one patient has achieved disease control. In addition, preliminary safety results show that Marqibo was well tolerated with no significant or unpredictable toxicities. The Phase 2 trial is currently being conducted at the University of Texas MD Anderson Cancer Center.
"We are very pleased to have met and surpassed the criteria for advancing this Phase 2 study to full enrollment," said Anne E. Hagey, M.D., Vice President and Chief Medical Officer. "Marqibo has been well tolerated even in patients with abnormal liver function due to metastatic disease; and, while early, we are extremely encouraged by the outcomes of the patients in our trial. New clinical sites are coming on board as we look to expand the availability of Marqibo to patients with metastatic uveal melanoma where there are currently no approved treatment options."
"Because of the tremendous interest from the medical community for Marqibo, I am proud to say that we were able to beat our already aggressive timeline by six months," stated Steven R. Deitcher, M.D., President and CEO. "We have been able to transform a pilot trial into a formal Phase 2 study as a result of the activity we have seen, and the trial is progressing with a faster than anticipated pace of enrollment."
The primary objective of Hana's Phase 2 study is to assess the efficacy of Marqibo as determined by Disease Control Rate (CR, PR, durable SD) in patients with metastatic malignant uveal melanoma. Secondary objectives are to assess the safety and antitumor activity of Marqibo as determined by response rate (CR, PR), progression-free survival, and overall survival. The patient population is defined as adults with uveal melanoma and confirmed metastatic disease that is untreated or that has progressed following one prior therapy.
Two prior clinical trials of Marqibo in patients with metastatic melanoma demonstrated promising single-agent activity. In these studies of patients with histologically confirmed, surgically non-resectable metastatic cutaneous, mucosal, or uveal melanoma, 3 of 26 (12 percent) achieved an objective response (CR or PR) and 8 of 26 (31 percent) of patients achieved disease control (CR, PR, or SD). One of four subjects with metastatic uveal melanoma achieved a complete response.
About Uveal Melanoma
Uveal melanoma is a relatively rare cancer of the colored part of the eye and the surrounding areas, called the uvea. Uveal melanoma is the most common primary intraocular malignant tumor in adults and represents five-to-six percent of all melanoma diagnoses. The incidence of uveal melanoma is reported to be approximately 2,500 patient cases per year. Metastasis occurs via vascular spread, and at least 40-50 percent of patients with primary uveal melanoma will ultimately develop metastases. Metastases of uveal melanoma have a different pattern of spread with nearly universal liver involvement. Metastatic uveal melanoma is considered unresponsive to systemic chemotherapy.
About Marqibo(r) (vincristine sulfate injection, OPTISOME(tm))
Marqibo, a novel, targeted, Optisomal formulation of vincristine, has shown promising anti-cancer activity in patients with acute lymphoblastic leukemia (ALL), non-Hodgkin's lymphoma, Hodkin's disease, and melanoma in several clinical trials. Vincristine is FDA-approved as a single agent and in combination regimens for the treatment of hematologic malignancies such as lymphomas and leukemias. Vincristine, a microtubule inhibitor, kills cancer cells when they enter a very specific point in the cell cycle, and its efficacy is concentration- and exposure duration-dependent. Marqibo extends the circulation time of vincristine in the bloodstream, increases targeting of the drug to malignant cells, and enhances exposure duration at the site of the disease. Unlike regular vincristine, Marqibo is dosed based on patient body surface area without the need to limit the dose to avoid neurotoxicities.
About Hana Biosciences, Inc.
Hana Biosciences, Inc. (Nasdaq:HNAB) is a South San Francisco, CA-based biopharmaceutical company focused on acquiring, developing, and commercializing innovative products to strengthen the foundation of cancer care. The company is committed to creating value by building a best-in-class team, accelerating the development of lead product candidates, expanding its pipeline by being an alliance partner of choice, and nurturing a unique company culture. Further information on Hana Biosciences can be found at www.hanabiosciences.com.
The Hana Biosciences, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3290
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as ``anticipates,'' ``expects,'' ``plans,'' ``believes,'' ``intends,'' and similar words or phrases. These forward-looking statements include without limitation, statements regarding the timing, progress and anticipated results of the clinical development, regulatory processes, potential clinical trial initiations, rates of patient enrollment and clinical trial site initiations, potential IND and NDA filings and commercialization efforts of Hana's product candidates, including its Marqibo product candidate. Such statements involve risks and uncertainties that could cause Hana's actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there is no assurance that the current uveal melanoma trial will meet its study objectives or that any of Hana's development efforts relating to its other product candidates will be successful, that Hana will be able to obtain regulatory approval of any of its product candidates, and that the results of clinical trials will support Hana's claims or beliefs concerning the effectiveness of its product candidates. Additional risks that may affect such forward-looking statements include Hana's need to raise additional capital to fund its product development programs to completion, Hana's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in the company's Annual Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission. Hana assumes no obligation to update these statements, except as required by law.
CONTACT: Hana Biosciences, Inc.
Investor & Media Contact:
Remy Bernarda, Director, Investor Relations
(650) 228-2769
fax (650) 588-2787
investor.relations@hanabiosciences.com
(nasd) ENMD $0.7105EntreMed''s ENMD-2076 Demonstrates Antitumor Activity in Multiple Myeloma Model
Monday, June 02 2008 - 7:01
$-0.0095 (%-1.32)
ROCKVILLE, Md., June 2 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced the presentation of preclinical data for its Aurora A/angiogenesis kinase inhibitor, ENMD-981693, the free base of ENMD-2076. The data were presented by Dr. Xiaojing Wang, postdoctoral fellow of EntreMed collaborator Dr. Sherif S. Farag, Division of Hematology and Oncology, Indiana University School of Medicine, at the American Society of Clinical Oncology Annual Meeting being held this week in Chicago, Illinois.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGO )
ENMD-2076 free base exhibited dose-dependent cytotoxicity towards multiple myeloma (MM) cell lines, and was shown to induce cell death in vitro following relatively short (6 hour) exposures through apoptosis via a mitochondrial pathway. Consistent with the effect of ENMD-2076 free base on several receptor tyrosine kinases, inhibition of phosphorylation of proteins in the oncogenic PI3-kinase/Akt pathway including p-BAD, p-FOXO1a, and p-GSK3beta was observed. Longer incubations of MM cells (24-48 hours) with ENMD-2076 free base elicited increased cell death with concomitant inhibition of Aurora A autophosphorylation, induction of cell cycle arrest, and downregulation of cyclins A and B1. ENMD-2076, administered either on a daily or weekly schedule, elicited complete inhibition of tumor growth towards a xenograft of the human myeloma cell line H929 in vivo.
ENMD-2076 is an orally-active, Aurora A/angiogenic kinase inhibitor with a unique kinase selectivity profile and multiple mechanisms of action. ENMD-2076 has been shown to inhibit a distinct profile of angiogenic tyrosine kinase targets in addition to Aurora A kinase and other oncogenic proteins. Aurora kinases are key regulators of mitosis (cell division), and are often over-expressed in human cancers. Inhibition of Aurora A has been shown to induce cell death in preclinical multiple myeloma cell lines. In addition, ENMD-2076 is selective for the Aurora A isoform in comparison to Aurora B.
Dr. Mark R. Bray, Vice President Research at EntreMed commented on the presentation, "The research of Dr. Farag and his co-workers has yielded important insights into the mechanism of cell death induced by ENMD-2076. These data support EntreMed's clinical rationale for this compound and provide further validation for its potential clinical utility in hematological cancers, including multiple myeloma. ENMD-2076 is currently in a Phase 1 study in solid tumors and the company plans to initiate a second Phase 1 study in patients with hematological malignances later this year."
About EntreMed
EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. MKC-1 is currently in multiple Phase 2 clinical trials for cancer. MKC-1 is an oral cell-cycle regulator with activity against the mTOR pathway. ENMD-1198, a novel antimitotic agent, and ENMD-2076, a selective kinase inhibitor, are in Phase 1 studies in advanced cancers. The Company also has an approved IND application for Panzem(R) in rheumatoid arthritis. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell-cycle regulation and inflammation - processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company's web site at www.entremed.com and in various filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance (including the timing of royalty revenues and future R&D expenditures), strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under "Risk Factors," including risks relating to the need for additional capital and the uncertainty of additional funding; variations in actual sales of Thalomid(R), risks associated with the Company's product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
CONTACT:
Ginny Dunn
Associate Director
Corporate Communications & Investor Relations
EntreMed, Inc.
240.864.2643
SOURCE EntreMed, Inc.
(nasd) AVSR $1.00 Fourteen of Microsoft Re-examination Challenges of Avistar''s U.S. Patents Rejected by U.S. Patent Office
Monday, June 02 2008 - 7:01
$0.03 (%3.09)
SAN MATEO, Calif., June 2 /PRNewswire-FirstCall/ -- Avistar Communications Corporation (Nasdaq: AVSR) has received notification from the U.S. Patent & Trademark Office (the "USPTO" or the "Patent Office") that as of the close-of-business on Friday, May 30, 14 of Microsoft Corporation's (Nasdaq: MSFT) requests for the Patent Office's re-examination of Avistar's 29 U.S. patents have been rejected.
Avistar is represented by Paul Carmichael as its primary licensing advisor. Among many executive assignments, Paul has served as Apple Computer Inc.'s Associate General Counsel for Patent and Trademark and Acting General Counsel, and in prior work, as IBM's Senior Corporate Counsel for Intellectual Property Law during a thirty year career at IBM.
"Data for the entire history of USPTO's re-examination activity indicate that only 8% of re-examination requests are rejected," stated Paul Carmichael. "While we believed that Microsoft's challenge to Avistar's entire U.S. patent portfolio was without merit, we also recognized that the statistics relating to us avoiding a wholesale re-examination were against us. We are delighted that the Patent Office's review has resulted in this extraordinary result which validates and strengthens many of Avistar's most important patents, We expect that the 9 patents that the USPTO has agreed to re-examine at this point also will be validated, and actually strengthened, through this process."
As discussed in Avistar's February 25, 2008 press release announcing the re-examination requests filed by Microsoft, the challenged Avistar patents have an important early priority date (1993), have already been examined over a large body of prior art, and include patents that have successfully withstood two litigations. Based on the history of these patents and the USPTO's response this week, Avistar is confident it will overcome any of the remaining re-examination requests that may be granted. Avistar patents have industry wide applicability to audio, video and data unified collaboration products and services.
Simon Moss, CEO of Avistar, stated "we are obviously pleased with the USPTO's notification that challenges to the core 14 of our U.S. patents have been rejected. We continue to remain focused on our business operations and have no further comment at this time with regards to our patent discussions."
Forward Looking Statements
Statements made in this news release that are not purely historical, including but not limited to statements regarding Avistar's ability to overcome the remaining re-examination requests, the applicability of Avistar's patents to Microsoft's present and future products, the impact and end result of the re-examination process on the patents that are re-examined by the USPTO, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including such factors, among others, as uncertainty associated with the USPTO's review and determination process, the time and expense to Avistar of responding to the re-examination requests and defending its patent portfolio, difficulties associated with enforcing or licensing Avistar's patent portfolio during the review and possible re-examination process, and the risk that Avistar's existing and pending patents could be revoked by the USPTO. As a result of these and other factors, Avistar expects to experience significant fluctuations in its licensing activities and operating results, and there can be no assurance that Avistar's future results will meet expectations. These and other risk factors are discussed in Avistar's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission from time to time. Avistar disclaims any intent or obligation to update these forward-looking statements.
About Avistar Communications Corporation
Avistar creates technology that provides the missing critical element in unified communications: bringing people in organizations face-to-face, through enhanced communications, for true collaboration anytime, anyplace. Its latest product, Avistar C3, draws on over a decade of market experience to deliver a single-click desktop videoconferencing and collaboration experience that moves business communications into a new era. Available as a stand-alone solution, or integrated with existing unified communications software from other vendors, Avistar C3 users gain instant messaging-style ability to initiate video communications across and outside the enterprise. Patented bandwidth management enables thousands of users to access desktop videoconferencing, Voice over IP (VoIP) and streaming media, without requiring substantial new network investment or impairing network performance.
Avistar's desktop videoconferencing and collaboration installations are among the world's largest, including more than 18,000 seats sold in more than 40 countries. Clients report as much as a 20 percent reduction in travel expense and carbon emissions, increases in productivity, and immeasurably improved relationship building within their organizations, as well as with suppliers and customers. Avistar holds a portfolio of 80 patents for inventions in video and network technology and licenses IP to videoconferencing, rich-media services, public networking and related industries. Current licensees include Sony Corporation, Sony Computer Entertainment Inc. (SCEI), Polycom, Inc., Tandberg ASA, Radvision Ltd. and Emblaze-VCON.
For more information, visit www.avistar.com
SOURCE Avistar Communications Corporation
(nasd) IVAN $2.79 Ivanhoe Energy Inc. - Q1 Earnings Announcement Webcast - June 2, 2008
Monday, June 02 2008 - 6:40
$0.16 (%6.08)
VANCOUVER, June 2 /CNW/ - Notification of Q1 Earnings Announcement Webcast event:
Ivanhoe Energy Inc. (NASDAQ: IVAN) (TSX: IE.)
Q1 Earnings Announcement Webcast
June 3, 2008, 8:00 AM PT/11:00 AM ET
To listen to this Webcast event, please enter http://w.on24.com/r.htm?e=109566&s=1&k=9FA618E9B7F8B41DFC94A3CE2A0EBBCD in your web browser.
To participate in the live conference call please dial 416-340-8010 or 866-540-8136. A replay of the call will be available until July 4th, 2008 at 11:59 PM PT. To access the replay please dial 416-695-5800 and enter the passcode 3261239.
For a complete listing of upcoming and archived webcasts available through CNW Group, please visit our events calendar at http://www.newswire.ca/en/webcast/index.cgi. CNW's webcast of earnings calls is consistent with Market Regulation Services Inc. (RS) objectives of providing investors with material information broadly and quickly.
(nasd) PDRT $3.02 Particle Drilling Technologies Receives Rig Assignment for Next Field Trial
Monday, June 02 2008 - 6:30
$0.09 (%3.07)
HOUSTON, June 2 /PRNewswire-FirstCall/ -- Particle Drilling Technologies, Inc. (Nasdaq: PDRT) (the "Company") announced today that it has now been informed by its customer that the next field trial utilizing the patented particle impact drilling ("PID") system will be conducted in the Travis Peak formation on the same drilling rig as the previous test conducted in 2007. This particular drilling rig is currently drilling another well which should be completed in June. The rig will move to the new location and begin drilling the well on which PID operations will be conducted. The Company estimates that PID operations will begin on or around July 15, 2008.
Jim Terry, the Company's President and Chief Executive Officer, stated, "We have worked hard to prepare our system for field use and are very excited to have scheduled the next field trial. We would like to have returned to the field sooner, but as I have made clear in all of my prior communications, our schedule is completely dictated by our customer's drilling schedule. We and our customer wish to minimize the variables associated with this next test and the decision to utilize the same drilling rig for the upcoming test will accomplish that objective."
Terry went on to say, "In the meantime, we are ordering sufficient long- lead items and maintenance parts such that we will be prepared to drill back- to-back wells. The experience we have gained on the four previous field tests coupled with the confidence we now have in the new injection system should allow us to deliver a solid performance on the next well. Once the results of the next field trial are tabulated, we will announce the results as soon thereafter as possible.
About Particle Drilling Technologies, Inc.
Particle Drilling Technologies, Inc. (NASDAQ: PDRT) is a development-stage oilfield service and technology company commercializing its patented and patent-pending Particle Impact Drilling system. The company's technology is designed to enhance the rate-of-penetration function in the drilling process, particularly in hard-rock environments. It is headquartered in Houston, Texas. For more information, visit: www.particledrilling.com.
Safe Harbor Statement
Certain statements in this press release that are not historical but are forward-looking are subject to known and unknown risks and uncertainties, which may cause PDTI's actual results in future periods to be materially different from any future performance that may be suggested in this press release. Such risks and uncertainties may include, but are not limited to, PDTI's need to raise equity capital and its ability to obtain equity financing on acceptable terms, if at all, a severe worldwide slowdown in the energy services sector and working capital constraints. Further, PDTI is a development stage company that operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond PDTI's control such as announcements by competitors and service providers.
Contacts: J. Chris Boswell, SVP & CFO
Particle Drilling Technologies, Inc.
713-223-3031
Jack Lascar / Sheila Stuewe
DRG&E / 713-529-6600
(nasd) PGIC $1.43 Progressive Gaming Management to Participate in Goldman Sachs 2008 Lodging, Gaming, Restaurant and Leisure Conference on June 2
Monday, June 02 2008 - 6:30
$-0.06 (%-4.03)
LAS VEGAS--(BUSINESS WIRE)--
Progressive Gaming International Corporation(R) (NASDAQ: PGIC) ("the Company"), a leading provider of diversified technology and system solutions used in the gaming industry worldwide, announced today that its Chief Financial Officer, Heather Rollo, will participate in a panel discussion and meetings with institutional investors at the Goldman Sachs 2008 Lodging, Gaming, Restaurant and Leisure Conference today, Monday, June 2, 2008. In conjunction with the Company's participation at the conference, a new investor presentation will be posted to the Company's website today, Monday, June 2, 2008. All interested parties can download an electronic copy of the presentation by visiting www.progressivegaming.net. (select "Company" and then "Investor Relations.")
About Progressive Gaming International Corporation(R)
Progressive Gaming is a leading supplier of integrated casino and jackpot management system solutions for the gaming industry worldwide. This technology is widely used to enhance casino operations and drive greater revenues for existing products. Progressive Gaming is unique in the industry in offering casino management and progressive systems in a modular yet integrated solution. Products include multiple forms of regulated wagering solutions in wired, wireless and mobile formats. There are Progressive Gaming products in over 1,000 casinos throughout the world. For further information, visit www.progressivegaming.net
(C)2008 Progressive Gaming International Corporation(R). All rights reserved.
Source: Progressive Gaming International Corporation
(nasd) ONCY $2.15 Oncolytics Biotech Inc. Collaborators Present Positive Phase II Sarcoma Trial Results at ASCO Annual Meeting
Monday, June 02 2008 - 2:01
$0.01 (%0.47)
CALGARY, June 2 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY) announced that interim results of a Phase II study of intravenous REOLYSIN(R) in patients with sarcomas metastatic to the lung were presented yesterday at the American Society of Clinical Oncology (ASCO) annual meeting. The presentation, entitled "A Phase II Study of Intravenous REOLYSIN (Wild-type Reovirus) in the Treatment of Patients with Bone and Soft Tissue Sarcomas Metastatic to the Lung" was delivered by Dr. Monica Mita, the study principal investigator and her team at the Institute of Drug Development (IDD), the Cancer Therapy and Research Center at the University of Texas Health Science Center, (UTHSC), San Antonio, Texas.
The interim results demonstrate that the treatment has been well tolerated to date, with 8 of 16 evaluable patients experiencing stable disease for periods ranging from two to more than ten, 28-day cycles. As previously announced by Oncolytics, the third patient treated in the study was demonstrated to have stable disease by RECIST criteria for more than six months as measured by CT scan. A PET scan taken at the same time showed that any residual mass was metabolically inert.
"These very encouraging data have increased our commitment to the thorough investigation of this exciting, unique, truly targeted agent," said Dr Francis Giles, Director of the IDD at UTHSC.
"We feel privileged to participate in this study and to be able to offer this therapeutic option to our patients," said Dr. Mita. "Patients have tolerated the treatment well and seem to have disease control up to several months, which is encouraging for patients with advanced refractory sarcoma."
A copy of the poster will be available on the Oncolytics' website today.
About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I/II and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further information about Oncolytics, please visit www.oncolyticsbiotech.com.
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the implication of the materials presented at the ASCO meeting with respect to REOLYSIN(R), the Company's expectations related to the results of trials investigating delivery of REOLYSIN(R), and the Company's belief as to the potential of REOLYSIN(R) as a cancer therapeutic, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of REOLYSIN(R) as a cancer treatment, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize REOLYSIN(R), uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements.
SOURCE Oncolytics Biotech Inc.
(nasd) ONSM $0.92 Onstream Media''s Acquisition Agreement Sparks Interest Of Leading Online Investment Club
Monday, June 02 2008 - 4:30
$-0.034 (%-3.56)
M2 PressWIRE - June 2, 2008 - www.PinnacleDigest.com is a performance-driven online financial magazine and social network with a proven track record. After Friday's news from Onstream Media Corporation (Nasdaq: ONSM) announcing that it has signed a definitive merger agreement to acquire Narrowstep(TM) Inc, our team has launched their exclusive investor controlled forum. Our staff and members have requested that all Onstream Media shareholders join our community and share their thoughts on the company, its development and future outlook. One of the most important aspects when we research for new investments is to understand the sentiment of the current shareholders; that is why we have released this announcement - we want to know your opinion.
Once a member of PinnacleDigest.com you will have access to all our Onstream Media research. It is our goal to find viable opportunities for each one of our members.
Join PinnacleDigest.com to
Find out if Onstream Media makes it as a Pinnacle Featured Company
Chat with other shareholders invested in Onstream Media
Explain to our investor community what differentiates this company
Connect with investors and professionals in the equity markets
Meet the thousands of investors who have already become members of the Pinnacle community.
PinnacleDigest.com is an investment club comprised of over 15,000 members. We use all of our member's insight when selecting our next investment opportunity. Your membership is free - join today.
PinnacleDigest.com has no vested interest in the company mentioned herein. This source of information is from an unbiased perspective. If you wish to become a member of www.pinnacledigest.com you will be gaining access to articles similar to this one and many other useful services we know you will find valuable. Keeping you educated and up-to-date with the market is one of our main purposes. Our approach in achieving this goal and our ability to consistently deliver high quality investment material is what defines our business model.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.
All material herein was prepared by Pinnacledigest.com (Pinnacle Digest) based upon information believed to be reliable. The information contained herein is not guaranteed by Pinnacledigest.com to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Pinnacledigest.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Pinnacledigest.com may receive compensation in cash or shares from independent third parties or from the companies mentioned.
Pinnacledigest.com will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Pinnacledigest.com undertakes no obligation to update such statements.
((Comments on this story may be sent to info@m2.com))
© 2008 M2 COMMUNICATIONS LTD
Wow watched this one for a few days, what a mess. Grabbed a few myself today for a bounce but should of dug a little before going in lol.
Interesting product and fwiw Celtrek product appears to be real. The stock however is a mess. Antoher quality Stocks dissaster and dump.
Hope to see a good bounce here just for the fact that it fell from $4 to .10 in a week's time but use caution.
Afterhours trades were a bit odd. Lg blocks at 275k 141k and the last one shows as .136 fwiw.
Volume into the last hour was insane but pps held above .10 fwiw.
GLTA
Gm Lotto Boarders TGIF
GL everyone Ding Ding in 30 sec
JBLU delays delivery of planes from Airbus for 4 years.
GM lotto boarders, oil dipping/dropping. Watch the airliners
OUch is right, FVRL cash and assets much higher than share price but it's taking a beating.
(nasd) TRIS $2.04 Tri-S Security Awarded Two Contracts Valued at $5,000,000 from the Department of Homeland Security and the Department of Defense
Wednesday, May 28 2008 - 8:30
$-0.06 (%-2.86)
ATLANTA, May 28 /PRNewswire-FirstCall/ -- Tri-S Security Corp. (Nasdaq: TRIS), has announced that Paragon Systems, a subsidiary of Tri-S, has recently been awarded two new contracts. Total value of the contracts is estimated at approximately $5,000,000. Terms of the contracts are for 5 years and will average about $1 million per year. Because of the nature of the work, specific details cannot be disclosed except to say they are with the Department of Homeland Security and the Department of Defense.
According to Ronald G. Farrell, CEO of Tri-Security, "This work once again shows the government's confidence and belief in the quality and performance of Paragon Systems. These contracts were not part of our pipeline of bids and therefore a bonus we did not expect. Both contracts have already started and results will be seen immediately."
About Tri-S Security Corporation
Based in Atlanta, GA, Tri-S Security Corp. (Nasdaq: TRIS - News) is a provider of security services and equipment for government and private entities spanning a wide range of industries. The government sector is serviced through its wholly-owned subsidiary Paragon Systems and the private sector through its subsidiary Cornwall Group. Security services include uniformed guards, electronic monitoring systems, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. As a leading aggregator of elite security companies, Tri-S Security is designed to build a strong enterprise in which to service a unique customer base that ensures America's safety at home and work. Tri-S Security assumes responsibility for the marketing, infrastructure and overall operational performance for its subsidiaries. Tri-S Security's management leverages highly trained government officers, experienced industry leaders, proven financial executives and infrastructure experts to consolidate the fragmented security industry into one efficient and effective security force.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Federal securities laws. Forward-looking statements are commonly identified by such terms and phrases as "should", "expects", "plans", "anticipates", "believes", "estimates", "projects" and other terms with similar meaning indicating potential impact on our business. Although we believe that the assumptions upon which such forward-looking statements are based are reasonable, we can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from our projections and expectations are disclosed in our filings with the Securities and Exchange Commission, including the "Risk Factors" section set forth in our Annual Report on Form 10-K for the year ended December 31, 2006. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to their underlying assumptions. We do not undertake to publicly update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a results of new information, future events or otherwise. You may obtain and review our filings with the Securities and Exchange Commission by visiting http://www.sec.gov.
SOURCE Tri-S Security Corp.
(nasd) NCST $1.1699Westaim updates shareholders on strategic alternatives
Wednesday, May 28 2008 - 8:30
$0.0099 (%0.85)
CALGARY, May 28 /CNW/ - The Westaim Corporation today updated shareholders regarding its consideration of strategic alternatives. Previously, the Company announced that it was taking steps to reduce operating costs, dispose of non-core assets and consider strategic alternatives.
iFire
-----
As previously announced, Westaim has discontinued the development plan of its iFire Technology subsidiary in the face of increasing technological barriers to entry and steep price reductions with the incumbent technologies in the flat panel television market. While iFire made progress on certain aspects of its development plan, overall progress was slower than expected and consequently the product development timeline extended past the timeframe originally anticipated. In addition, iFire lacked the resources required to complete the development work necessary for commercialization.
Over the past six months Westaim contacted prospective purchasers to solicit interest in purchasing iFire. To date, no expressions of interest in acquiring iFire en bloc have been received. Consequently, the Company has turned its attention to seeking buyers for the assets of iFire and expects to substantially complete the sale of such assets by the end of 2008 for proceeds that will likely range between $3 and $7 million.
Nucryst Pharmaceuticals
-----------------------
Westaim owns approximately 74.5 per cent of the outstanding common shares of Nucryst. Westaim is reviewing alternatives for its investment in Nucryst, including the sale of its Nucryst shares to a third party, the distribution of its Nucryst shares to shareholders of the Company or the investment of the Company's remaining liquid assets in Nucryst.
Westaim
-------
The longer term options for Westaim include the possibility of identifying a new business opportunity or entering into a reverse take over transaction whereby a private company would become publicly traded through the acquisition of such company by Westaim for consideration comprised of common shares of Westaim. The Company has begun to receive, from third parties, expressions of interest in pursuing such transactions. However, there can be no certainty that these expressions of interest will result in the completion of a transaction. Any such transaction cannot be finalized until matters respecting iFire and Nucryst are further clarified and would be subject to approval of the shareholders of Westaim.
The Westaim Corporation's investments include iFire Technology Ltd., and a 74.5 per cent interest in NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS). Westaim's common shares are listed on The Toronto Stock Exchange under the trading symbol WED.
This news release contains forward-looking statements. These statements are based on current expectations that are subject to risks and uncertainties, and Westaim can give no assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including but not limited to statements regarding increasing technological barriers to market entry for iFire's technology and steep price reductions with the incumbent technologies in the flat panel television market, expectations regarding the timing for substantial completion of sales of assets and likely proceeds from any such sales, the possibility of identifying a new business opportunity or entering into a reverse take over transaction, the completion of any transaction, and approval of any transaction by the shareholders of Westaim. Westaim disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. Accordingly, readers are advised not to place undue reliance on forward-looking statements, and should not rely on this information at any date other than the date of this news release. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
%SEDAR: 00002793E
(nasd) MDII $0.4399 MDI, Inc. Subsidiary MDI Security Systems Announces New Orders from Almana Networks in Fulfillment of $5 Million Revenue Commitment for 2008
Wednesday, May 28 2008 - 8:15
$-0.0201 (%-4.37)
SAN ANTONIO--(BUSINESS WIRE)--
MDI, Inc. (NASDAQ: MDII) announced today that MDI Security Systems (MDI) has received six orders this month from international technology solutions integrator Almana Networks (Almana), based in Doha, Qatar. These orders have been placed to fulfill a $5 million product revenue commitment from Almana to MDI this year.
Almana Networks is expecting to have a record year driven by an increase in business from new large construction opportunities in one of the world's richest and fastest growing cities (Doha, Qatar). The company is projecting a 300% growth in overall sales in 2008. A large percentage of this growth is expected to come from security technology products and integrated security systems that will be installed into businesses, facilities, compounds and multi-story high rise towers within and in proximity to the city of Doha.
MDI's Middle East office, located in the Regus Building in Doha, provides Almana Networks and its physical security and low voltage customers with sales support, sales engineering support, system design services and security consulting.
Current project orders include:
-- A video surveillance system for a 22-villa compound in Doha
-- Integrated access control, time & attendance and video
surveillance for the headquarters of one of the world's
largest data systems corporations, providing service to the
Qatar Foundation and Education City
-- Integrated access control, perimeter intrusion and video
surveillance for the Al Fardan BMW National Workshop in
Khalifa
-- Integrated access control and video surveillance for Al
Fardan's National Pre-Delivery Inspection Facility at
Industrial City
-- A complete digital video surveillance system for the Al Fardan
Jewelry Center
"We have had a multitude of security vendors attempting to sell us their point products," stated Ebrahim Mattar, Director of IT for the Al Fardan Group. "We have chosen MDI and Almana Networks because they offer a complete solutions approach that fits our enterprise needs across all our holdings. The team is consulting and designing systems with us hand in hand, which demonstrates a high project success rate in our experience. Because of this, we are considering working with them across the Gulf Region," he added.
Additional projects that Almana is expecting to deliver in partnership with MDI in the near term include a 46-story office building and recreation center, a 64-story residential tower (which is the 2nd largest structure in the country) and a large-scale 32-unit compound.
The unique customization features of MDI's multiple award-winning open architecture platform continue to resonate with the Middle East market. MDI and the Almana Networks team continue to empower client organizations to manage by exception across multiple layers of security protection. As an event occurs, MDI's unified system gives security managers complete enterprise situational awareness capabilities while allowing them to command and control integrated point security solutions as needed, across multiple remote locations, based on levels of threat to people, facilities and assets.
About MDI, Inc.
MDI, Inc. (NASDAQ: MDII), is the parent company of a diverse set of wholly-owned subsidiaries that have successfully serviced the construction and security industries for over 28 years. MDI companies deliver security technology products, services and training for government, homeland security, commercial and educational markets as well as comprehensive construction solutions for a variety of clients on an international scale. MDI companies include:
MDI Security Systems(TM) - www.mdisecure.com
MDI Professional Services Group -
http://www.mdiincorporated.com/MDI_PSG.pdf
The LearnSafe Initiative(TM) - www.learnsafe.org
FAS Construction Management - www.fascompanies.com
FAS Construction, LLC
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this document, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "project," "forecast," "plan," "may," "will," "should," "expect" and other words of similar meaning. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.
All product and company names mentioned herein may be the trademarks of their respective owners.
Source: MDI, Incorporated
(nasd) APAC $1.58 APAC Customer Services Receives Notice of Compliance with NASDAQ Minimum Bid Price Listing Standard
Wednesday, May 28 2008 - 8:00
$-0.04 (%-2.47)
DEERFIELD, Ill.--(BUSINESS WIRE)--
APAC Customer Services, Inc. (NASDAQ: APAC), a leading provider of customer interaction solutions, today announced it has received notice from NASDAQ that it is compliant with the minimum bid price requirements for continued listing on the NASDAQ Global Market.
APAC regained compliance with NASDAQ's requirements when the closing bid price for the Company's common stock was at or above $1.00 for the ten consecutive business days.
About APAC Customer Services, Inc.
APAC Customer Services, Inc. (NASDAQ: APAC) is a leading provider of customer care services and solutions for market leaders in healthcare, financial services, business services, publishing, communications and travel and entertainment industries. APAC partners with its clients to deliver custom solutions that enhance bottom line performance. For more information, call 1-800-OUTSOURCE. APAC's comprehensive web site is at http://www.apaccustomerservices.com.
APAC-G
Source: APAC Customer Services, Inc.
(nasd) QUIK $1.80 QuickLogic''s ArcticLink Platform Now Available in Wafer-Level Chip Scale Packaging
Wednesday, May 28 2008 - 8:00
$0.01 (%0.56)
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Continuing its commitment to addressing the needs of the mobile device market, QuickLogic(R) Corporation (NASDAQ:QUIK), has made its ArcticLink(TM) Customer Specific Standard Product (CSSP) platform available in a tiny Wafer Level Chip Scale Package (WLCSP). The ArcticLink platform family addresses the connectivity needs of mobile devices by offering, in a single device, an array of configurable interfaces and host controllers, including hi-speed USB OTG with built-in PHY, storage and networking I/Os and controllers such as SDIO, MMC, CE-ATA, mini-PCI, Compact Flash and SPI/UART, etc. The newly-available WLCSP option helps minimize mobile device design size needed to augment processor interfaces and functionality.
"As mobile devices grow in complexity, designers are hard pressed to pack additional functionality and intelligence into smaller footprints," said QuickLogic's senior solutions marketing manager, Howard Li. "By delivering our ArcticLink CSSP platform in WLCSP form, we allow handset OEMs and ODMs to address all their connectivity needs in the smallest possible area."
WLCSP eliminates the area overhead of conventional BGA packaging and it is done with a standard die by fabricating an additional metal redistribution layer to re-route the I/O lines from the perimeter bonding pads to an array. It then "bumps" (adds solder balls to) the array, making it ready for customers to use in conventional surface-mount fabrication processes.
Availability
The WLCSP packaging option is immediately available for QuickLogic's ArcticLink CSSP platform family.
About QuickLogic
QuickLogic Corporation (NASDAQ:QUIK) is the inventor and pioneer of innovative, customizable semiconductor solutions for mobile and portable electronics OEMs and ODMs. These silicon plus software solutions are called Customer Specific Standard Products (CSSPs). CSSPs enable our customers to bring their products to market more quickly and remain in the market longer, with the low power, cost and size demanded by the mobile and portable electronics market. For more information about QuickLogic and CSSPs, visit www.quicklogic.com.
(C)2008 QuickLogic Corporation. All rights reserved.
QuickLogic is a registered trademark, and the QuickLogic logo is a trademark of QuickLogic. Other trademarks are the property of their respective companies.
Code: QUIK-G
Source: QuickLogic Corporation
(nasd) BOSC $1.57 BOS has Finalized a Frame Agreement with Potential for Orders of up to $ 25 million with a Strategic Customer in the Aircraft Industry
Wednesday, May 28 2008 - 7:36
$0.01 (%0.64)
RISHON LEZION, Israel--(BUSINESS WIRE)--
B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ:BOSC; TASE: BOSC), a leading provider of comprehensive Mobile and RFID solutions for the enterprise and of Supply Chain Solutions, today announced that its subsidiary, Summit Aviation Supply, has finalized a contract for the sale of components to a strategic Latin American customer in the aircraft industry. Signing the contract is expected in the near future.
The contract provides for a framework for orders by the customer potentially amounting to up to $25 million during an initial five-year term (until 2012). The contract may be extended for additional five-year terms.
Shmuel Koren, BOS President and CEO commented: "We are very pleased with this transaction and Summit has already begun to receive orders under the terms of this frame agreement. It reflects our ability to provide comprehensive supply chain solutions to the global aircraft and aerospace industry. This also demonstrates Summit's excellent reputation and leading position in the international markets."
B.O.S Better Online Solutions Ltd. ("BOS") was established in 1990.
BOS's operations consist of:
(i) Fully integrated Mobile and RFID Solutions that combine:
(a) Software Applications - RFID Server, system management
application and data collection tools with seamless interface
to business application, and
(b) Mobile Infrastructure - Automatic identification and data
collection equipment based on RFID and barcode technology;
and
(ii) Supply Chain Solutions, reselling electronic systems and
components for security, aerospace and networks.
BOS is traded on NASDAQ and on the Tel-Aviv Stock Exchange. Our website is www.boscorporate.com.
About Summit
Summit, a New Jersey based company with over 50 years of experience, is a supply chain solutions provider of electronic components to major international aviation and aerospace industries.
The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of our being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS; and additional risks and uncertainties detailed in BOS's periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Source: B.O.S Better Online Solutions Ltd.
(nasd) PVSW $4.45 PROFITsystems Gains 20X Speed and Launches On-Demand Offering with Pervasive Software''s Latest Database Technology
Wednesday, May 28 2008 - 7:00
$-0.08 (%-1.77)
AUSTIN, Texas--(BUSINESS WIRE)--
Pervasive Software(R) Inc. (NASDAQ:PVSW), a global value leader in embeddable data management and agile integration software, today announced PROFITsystems, one of the largest retail home goods solutions provider in the world, has successfully implemented Pervasive PSQL Summit(TM) v10 to power its business management software, PROFITprofessional 11.3, and enable the launch of its on-demand offering. PROFITsystems has benefited from Pervasive's database expertise for more than 25 years, and it continues to enhance the power of its software by taking full advantage of the speed, security and flexibility available from Pervasive's maintenance-free embedded database.
PROFITsystems sought to expand upon its current software solution, exploring an on-demand offering to remove the burden of a server and its maintenance for customers. The company turned to the newest version of Pervasive's database, Pervasive PSQL Summit v10. Its stability and affordability enables PROFITsystems to effectively serve its diverse customer base, which ranges from two-person shops to top 100 global furniture stores. Since implementing PSQL v10, PROFITsystems has experienced a significant increase in performance and product speed from the Xtreme I/O feature, accelerating the sales analysis reporting application's processing time from 10 minutes to just 30 seconds.
"Pervasive will always be at the core of our product - it's a fit with who our clients are. They're small, independent stores, and an affordable, reliable database is what they need," said Jeff Niskern, president of PROFITsystems. "Implementation of Pervasive PSQL Summit v10 was incredibly smooth, proving its place as an effective and reliable database that is not only compatible with the latest platforms, but also continues to fit well with our customers' legacy systems."
"As a client of PROFITsystems, we are pleased to know that they continue to work behind the scenes enhancing their software with products such as Pervasive PSQL v10 so I can improve my bottom line and grow my business," states Nancy Krahn, owner, Krahn's Home Furnishings. "PROFITsystems' on-demand option takes the burden of network cost and maintenance off me so I can focus on my core business while they provide and maintain the equipment and all the business management software I need to be successful."
Pervasive PSQL Summit v10 provides 32- and 64-bit support for a variety of Windows and Linux platforms, is certified compatible for Windows Server 2008 and is designed to support Windows Vista(TM) SP1. Additionally, it is compatible with both Red Hat Enterprise Linux and SUSE Linux Enterprise platforms (32- and 64-bit). This compatibility is key for businesses like PROFITsystems, which serves more than 750 customers running various systems and additional support technologies. Pervasive PSQL Summit also supports full backward compatibility in typical IT environments that have a hybrid of legacy and new technologies.
"Pervasive PSQL stays in step with the latest technology and delivers significant performance enhancements with the latest version of a product that has been around for more than 25 years. From Btrieve to PSQL, our partners continue to have a voice in our product roadmap and feature development priorities so we can mutually deliver solutions that best meet their customers' needs," said Gilbert Van Cutsem, general manager of Database Products at Pervasive. "We are hearing great success stories and compelling ROI for our customers using Pervasive PSQL Summit v10. Pervasive empowers longstanding partners like PROFITsystems to enhance their product offering and service to customers with the power of a scalable, reliable and high-performing embedded database."
About PROFITsystems
PROFITsystems is a leading provider of home goods management software, consulting and retail business solutions. Software features include fully integrated inventory management and accounting systems. In 2007, PROFITsystems was named to Inc. Magazine's "Inc. 5000" as one of the top 5,000 fastest growing businesses in the U.S.
About Pervasive Software
Pervasive Software (NASDAQ:PVSW) helps companies get the most out of their data investments through embeddable data management and agile integration software. The embeddable PSQL database engine allows organizations to successfully embrace new technologies while maintaining application compatibility and robust database reliability in a near-zero database administration environment. Pervasive's agile, multi-purpose integration platform accelerates the sharing of information between multiple databases, applications, or hosted business systems and allows customers to re-use the same software for diverse integration scenarios. For more than two decades, Pervasive products have delivered value with a compelling combination of performance, flexibility, reliability and low total cost of ownership. Pervasive's hallmark is the size, diversity and loyalty of its customer base, partners and channels: tens of thousands of customers in virtually every industry, in more than 150 countries, rely on Pervasive to manage, integrate, analyze and secure their critical data. For additional information, go to www.pervasive.com.
Cautionary Statement
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements included in this document are based upon information available to Pervasive as of the date hereof, and Pervasive assumes no obligation to update any such forward-looking statement.
All Pervasive brand and product names are trademarks or registered trademarks of Pervasive Software Inc. in the United States and other countries. All other marks are the property of their respective owners.
Source: Pervasive Software Inc.
(nasd) LXRX $2.05 Lexicon Pharmaceuticals Implements Reorganization to Deploy Resources Toward Drug Development Pipeline
Wednesday, May 28 2008 - 6:31
$-0.02 (%-0.97)
THE WOODLANDS, Texas, May 28, 2008 (PRIME NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq:LXRX) announced today that it is implementing a reorganization designed to reduce costs and increase efficiencies in its research and discovery operations. This action will further focus the company's resources on its strategic, business, and clinical development initiatives. The cost reductions associated with the reorganization will enable the company to continue to invest appropriately in the development of its expanding pipeline of drug candidates, while maintaining a productive and robust drug discovery operation.
"This reorganization is a significant milestone in the process we began in early 2007 to transform ourselves into a biopharmaceutical company with a pipeline of innovative drug products that derive from our unique insights into the human genome," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer. "This action will reduce operating expenses associated with our research and discovery efforts and allow us to deploy these resources into key clinical development areas, including our four programs currently in human clinical trials."
As part of the reorganization, Lexicon is reducing its workforce at the company's facilities in Texas and New Jersey. Lexicon expects the move to reduce its expenses by approximately $4.0 million, net of severance costs, for the balance of 2008 and approximately $10.0 million on an annualized basis. Lexicon will conclude the reorganization by early summer with a prioritization initiative of drug targets designed to further streamline its process of moving new drug candidates from discovery to human clinical testing.
"We are thankful for the significant contributions our employees have made, and we recognize the personal and professional impact this transition will have on all those affected," Sands said. "Among those departing the company, there are some long-standing employees, including several executives who have contributed greatly to the company's rapid growth from its early start-up phase. We are especially indebted to Julia Gregory, who served as our chief financial officer from the time of our successful initial public offering in 2000. In addition, we want to thank Jim Piggott, who served as senior vice president of pharmaceutical biology in charge of target discovery from the beginning of the Genome5000(tm) program, and David Boulton, vice president of technology and operations in New Jersey, who designed and implemented our innovative click chemistry platform, which is the foundation of Lexicon's chemical library collection, for their efforts."
About Lexicon
Lexicon is a biopharmaceutical company focused on discovering and developing breakthrough treatments for human disease. Through its proprietary gene knockout technology, the company is dedicated to discovering and developing breakthrough treatments for human disease. Lexicon currently has development programs underway for such areas of major unmet medical need as irritable bowel syndrome, cognitive disorders, autoimmune diseases, and carcinoid syndrome. The company has used its proprietary gene knockout technology to discover more than 100 promising drug targets and create an extensive pipeline of clinical and preclinical programs in the therapeutic areas of cardiology, gastroenterology, immunology and oncology, metabolism, neurology and ophthalmology. To focus its commitment, Lexicon initiated its 10TO10 program to advance 10 new drug candidates into human clinical trials by the end of 2010. To advance the development and commercialization of its programs, Lexicon is working both independently and through collaborators including Bristol-Myers Squibb Company, Genentech, Inc. and N.V. Organon. For additional information about Lexicon and its programs, please visit www.lexpharma.com.
The Lexicon Pharmaceuticals, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4799
Safe Harbor Statement
This press release contains "forward-looking statements," including statements relating to Lexicon's growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors that may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under "Factors Affecting Forward-Looking Statements" and "Risk Factors" in Lexicon's annual report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Lexicon
Investor and Public Relations
Bobbie Faulkner, Manager
281/863-3503
bfaulkner@lexpharma.com
(nasd) FCSE $0.43 Focus Enhancements'' TV-out Technology Selected to Power Tekkeon''s Home Media Center With Remote iPod Navigation
Wednesday, May 28 2008 - 6:30
$0 (%0)
CAMPBELL, CA -- (MARKET WIRE) -- 05/28/08 -- Focus Enhancements, Inc. (NASDAQ: FCSE), a worldwide leader in Ultra Wideband (UWB) wireless technology, video conversion and digital media, today announced its FS453LF TV-out encoder chip was selected by Tekkeon to power its NavDock(TM) Home Media Center with on-TV navigation for iPod devices. Tekkeon's NavDock product lets consumers remotely navigate their iPods through on-TV menus to play videos, photos, and music on a connected television.
"We selected Focus Enhancements' TV-out chip for our NavDock Home Media Center because of its superior performance and high video quality," says Jerry Yang, president of Tekkeon, Inc. "NavDock enables iPod users to browse through on-TV menus to play videos, photo slideshows, and music on a connected television. With Focus Enhancements' TV-out technology, our customers can experience exceptional video quality and enjoy clean images from the iPod to the TV."
"Our superior TV-out technology powers a variety of consumer electronics including portable media devices, set-top boxes, and digital video recorders," says David Huang, sales director, Asia Pacific Focus Enhancements' semiconductor group. "TV-out support in volume consumer applications continues to grow rapidly. We are very excited about the NavDock opportunity and are committed to helping our customers succeed when video quality counts."
With NavDock, users can browse their iPod menus on their television to seamlessly bring the iPod into the home theatre. Consumers can easily find and play their iPod content on their TV, including a photo slideshow and viewable song lyrics. A 16-button remote offers complete control with mute, volume, shuffle, repeat, skip, fast forward, and rewind. And a five-way navigation pad and quick keys enable users to jump directly to videos, photos, music or settings menus.
About Focus Enhancements, Inc.
Focus Enhancements, Inc. (NASDAQ: FCSE), headquartered in Campbell, CA, is a leading designer of world-class solutions in advanced, proprietary video and wireless video technologies. The company's Semiconductor Group develops wireless IC chip set based on WiMedia UWB standard and design as well as markets portable ICs to the video convergence, portable media, navigation systems and smartphone markets. The company's System Group develops video products for the digital media markets, with customers in the broadcast, video production, digital signage and digital asset management markets. More information on Focus Enhancements may be obtained from the company's Securities and Exchange Commission (SEC) filings, or by visiting the Focus Enhancements home page at http://www.focusinfo.com.
About Tekkeon
Tekkeon's innovative mobile products put technology to work to simplify everyday life. By skillfully combining the latest technology with bold designs, the company creates inventive products that are both simple to use and useful -- enabling its customers to take full advantage of today's high tech world.
Tekkeon, Inc. is a privately held company with headquarters in Tustin, California, and ISO-certified factories in China and Taiwan. Additional information about the company is available at www.tekkeon.com.
Safe Harbor Statement
Statements in this press release which are not historical, including statements regarding management's intentions, hopes, expectations, representations, plans or predictions about the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include the risk factors specified in the company's Form 10-K and 10-K/A for the year ended December 31, 2007, and Form 10-Q for the period ending March 31, 2008 as well as other filings with the SEC. These statements are based on information as of May 28, 2008 and the company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
NavDock is a trademark of Tekkeon, Inc. iPod is a trademark of Apple Computer, registered in the U.S. and other countries.
Focus Enhancements:
Tony Parker
VP of Marketing
Semi Group
503.615.7718
Email Contact
Focus Investors:
Kirsten Chapman
Lippert/Heilshorn & Assoc.
415.433.3777
Email Contact
Focus Press:
Brian Solis
FutureWorks, Inc.
408.720.8228 x101
Email Contact
(nasd) NXXI $0.362 Nutrition 21 Launches Iceland Health(R) Cholesterol Health and Iceland Health(R) Joint Relief Plus SLEEP Support
Wednesday, May 28 2008 - 6:30
$0.0009 (%0.25)
PURCHASE, N.Y., May 28 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (Nasdaq: NXXI), a developer and marketer of nutritional supplements that help consumers manage blood sugar levels, improve cardiovascular health, enhance memory and address chronic joint pain today introduced two new additions to its Iceland Health(R) brand portfolio: Iceland Health(R) Cholesterol Health and Iceland Health(R) Joint Relief Plus SLEEP Support. Formulated with omega-3 fish oil and a specialized form of plant sterols (phytosterols) that are natural compounds, Iceland Health Cholesterol Health has been shown to reduce LDL or "bad" cholesterol up to 15%. Iceland Health Joint Relief Plus SLEEP Support also contains omega-3 fish oil, Iceland Collagen GHA(TM) for pain and joint relief, as well as melatonin to promote a 100% drug-free more restful and uninterrupted sleep. Both new products were shipped last month to national and regional retailers across the country and have been well-received.
"These exciting new products address conditions that impact quality of life issues for large segments of the U.S. population; particularly those of the burgeoning 'Baby Boom' generation," said Dean DiMaria, senior vice president-marketing of Nutrition 21. "With a strong desire to stay as active as possible for as long as possible, Baby Boomers now have an expanded menu of high-quality Iceland Health products to manage health issues ranging from cardiovascular health to management of their cholesterol levels to alleviating joint pain and getting a better night's sleep. Nutrition 21 is dedicated to creating products that combine best-in-class science with top-quality ingredients to support those focused on living longer, healthier, happier lives."
According to the Centers for Disease Control & Prevention (CDC), in 2005 there were approximately 25.6 million people in the U.S. with diagnosed heart disease(1). In a study of more than 11,000 patients who had suffered a heart attack within the previous three months, those who took fish oil supplements had a 41% decrease in the risk of sudden death and a 45% decrease in the risk of dying from heart-related diseases. Iceland Health Omega-3s provide affordable, high-quality fish oil with an optimal balance of EPA and DHA, the two essential omega-3 fish oils. Iceland Health Omega-3s are the only omega-3 fish oils produced and imported from Iceland. They are manufactured under regulations developed and promoted by the U.S. Food and Drug Administration.
About Iceland Health(R) Cholesterol Health
Iceland Health Cholesterol Health provides a specialized combination of Omega-3 Fish Oil and HEART CHOICE(R) plant sterols to help lower cholesterol, help maintain healthy circulation and promote cardiovascular health. Phytosterols (or plant sterols) are natural compounds that are found in fruit, vegetables and whole grain products that have been shown to reduce LDL or "bad" cholesterol up to 15%. Scientific research shows that 650 mg per serving of plant sterol esters taken twice a day with meals for a daily total intake of at least 1300 mg, as part of a diet low in saturated fat and cholesterol may reduce the risk of heart disease. Each daily serving (2 soft gels) of Iceland Health Omega-3 Fish Oil Cholesterol Health contains 1300 mg of plant sterol esters. For more information, visit http://www.Nutrition21.com.
About Iceland Health(R) Joint Relief Plus SLEEP Support
According to a National Sleep Foundation Gallup Poll, 30% of all nighttime pain sufferers experience arthritis pain at night. That number rises to 60% for those over the age of 50. Iceland Health Joint Relief plus SLEEP Support contains Omega-3 and Iceland Collagen GHA(TM) for pain and joint relief as well as melatonin to promote a 100% drug-free more restful and uninterrupted sleep. The brand specifically includes: type II collagen to support healthy joints and improve range of motion over time; chondroitin sulfate for improved joint elasticity; hyaluronic acid (HA) for joint lubrication, glucosamine to help renew cartilage and lubricate joints and melatonin to promote increased sleep efficiency and help improve sleep quality.
Iceland Health products are now available in the vitamin aisle of major drug and retail stores nationwide. For more information, visit http://www.Nutrition21.com.
About Nutrition 21
Nutrition 21, Inc. (Nasdaq: NXXI), headquartered in Purchase, NY, is a nutritional bioscience company and the maker of chromium picolinate-based and omega-3 fish oil-based supplements with health benefits substantiated by clinical research. Nutrition 21 holds more than 30 patents for nutrition products and uses. Nutrition 21's portfolio of health and wellness brands include: Chromax(R), Core4Life Advanced Memory Formula(TM), Diabetes Essentials(TM), Iceland Health(R) Maximum Strength Omega-3 and Iceland Health(R) Joint Relief. The company also manufactures private label supplements and ingredients for third parties. Nutrition 21 distributes its products nationally through more than 29,000 major food, drug and super center retailers as well as internationally. For more information please visit http://www.Nutrition21.com.
References
(1) Centers for Disease Control & Prevention. National Center for Health
Statistics: http://www.cdc.gov/nchs/fastats/heart.htm
CONTACT: Lytham Partners, LLC
Joe Diaz -- (602) 889-9700
SOURCE Nutrition 21, Inc.
(nasd) VOCL $0.52 VocalTec Signs Agreement to Sell 11 of Its 22 Patents for $12.5 Million
Wednesday, May 28 2008 - 6:03
$-0.02 (%-3.70)
HERZLIA, Israel--(BUSINESS WIRE)--
VocalTec Communications Ltd. (Nasdaq Capital Market:VOCL), a global provider of carrier-class multimedia and voice-over-IP solutions for communication service providers, announced today that it has signed a Patent Purchase Agreement (PPA) to sell selected patents to Karo Millennium J.P., L.L.C.
Pursuant to the PPA, VocalTec will sell 11 patents and certain patent-related rights, out of the Company's current portfolio of 22 patents, for the aggregate selling price of $12.5 million. The patents to be sold consist of nine US patents, one Israel patent and one Australian patent. Consummation of the transaction is subject to certain conditions, including approval of the Office of the Chief Scientist of the Israeli Ministry of Industry (OCS), Trade and Labor. The transaction-related expenses will include mainly brokerage fees and a payment to the OCS in an amount to be determined. Upon consummation of the transaction, VocalTec will be granted a geographically unlimited, non-exclusive license to use the sold patents and other patent-related rights in connection with the development and marketing of its products.
Yosi Albagli, VocalTec's Chief Executive Officer, commented, "We are happy to have entered into an agreement with Karo Millennium J.P., L.L.C. that demonstrates the value attributed to VocalTec's technology and solutions. The funds that we will receive from the monetization of the patents and patent-related rights to be sold will allow us to continue expanding our sales and marketing efforts, as we move forward with our growth plans. We believe that there is great potential for our VOIP solutions, and we look forward to exploring the opportunities that lie ahead." IPinvestments Group is acting as VocalTec's broker in this transaction.
In addition to the 11 patents sold, VocalTec retains a patent portfolio comprising 11 additional patents as well as several trademarks, including "Internet Phone" trademark and internet domain name.
About VocalTec
VocalTec Communications (Nasdaq:VOCL) is a global provider of carrier-class multimedia and voice-over-IP solutions for communication service providers. A pioneer in VoIP technology since 1994, VocalTec provides proven trunking, peering and residential/enterprise VoIP application solutions that enable flexible deployment of next-generation networks (NGNs). Partnering with prominent system integrators and equipment manufacturers, VocalTec serves an installed base of dozens of leading carriers including Deutsche Telekom and Telecom Italia San Marino. VocalTec is led by a management team comprised of respected industry veterans.
www.vocaltec.com
Forward Looking Statements
This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of VocalTec. The words "believe," "expect," "intend," "plan," "should" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of the Company with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in the telecommunications and VoIP markets and in general economic and business conditions, loss of key customers and unpredictable sales cycles, competitive pressures, market acceptance of new products, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this press release. Various risks and uncertainties may affect the Company and its results of operations, as described in reports filed by the Company with the Securities and Exchange Commission from time to time. Should one or more of these or other risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend or assume any obligation to update these forward-looking statements.
Source: VocalTec Communications Ltd.