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yeah that was a good press release for once. That's about as good of a place to advertise as any for this type of content.
Ok thanks. I had remembered reading about a RS, couldn't remember in what context.
what about a possible Reverse Split before the merger?
What ever happened to an update on negotiations in Europe?
This is the longest we've gone without a b.s. press release in some time. Maybe the pps will go up...haha
Yeah sorry, didn't mean to set off an alarm. Just came across a news clip, saw no one had posted it and figured i'd share it.
Pipex Pharmaceuticals Announces Fourth Quarter and Year End 2006 Results
56 minutes ago - Market Wire
Pipex Pharmaceuticals, Inc. (OTCBB: PPXP), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and fibrotic diseases, today announced its achievements and accomplishments and results for the fourth quarter and year end 2006.
Achievements and Accomplishments for Fourth Quarter and Year End 2006:
-- Completion of $13.9 million private equity financing with leading institutional investors in fourth quarter 2006; -- Increased working capital through the conversion of approximately $3.4 million in non-interest bearing bridge loans from an affiliate of the Chairman and CEO into equity on the same terms as other investors in our fourth quarter private equity financing; -- Went public in November 2006 via reverse merger with the former Sheffield Pharmaceuticals, Inc., changed corporate name to Pipex Pharmaceuticals, Inc. and initiated trading under new ticker symbol "PPXP"; -- Presentation by Dr. George Brewer, Professor Emeritus, University of Michigan, of pivotal phase III clinical trial results of COPREXA(TM) (oral tetrathiomolybdate) for neurologically-presenting Wilson's disease at the NIH Symposium for Wilson's disease; -- Publication of pivotal phase III clinical trial results of COPREXA(TM) (oral tetrathiomolybdate) for neurologically-presenting Wilson's disease in Archives of Neurology; -- Publication of results of preclinical studies demonstrating the ability of COPREXA(TM) to protect against doxorubicin-induced cardiotoxicity in the journal, Translation Research; -- Expanded management team through the addition of key personnel including Dr. Charles Bisgaier in June 2006; former co-founder of Esperion Therapeutics Inc. and co-developer of Lipitor(R), to serve as President and member of the board; -- Received research equipment award from the State of Michigan and SPARK Foundation; -- Completion of one year, open label, phase II clinical trial of COPREXA(TM) (oral tetrthiomolybdate) for the treatment of idiopathic pulmonary fibrosis (IPF); and -- Initiation of double-blind, placebo-controlled, phase II clinical trial of COPREXA(TM) for primary biliary cirrhosis supported by grant of $890,000 from FDA's Orphan Products Group.
Financial Results for Fourth Quarter and Year End 2006:
At December 31, 2006, Pipex had approximately $12.2 million of cash and working capital of approximately $11.5 million, compared to $1.1 million of cash and working capital of ($985,968) at December 31, 2005. The $11.1 million increase in cash is attributable primarily to the net proceeds from our $13.9 million fourth quarter 2006 private equity financing. Our increase in cash and working capital at December 31, 2006 is also attributable to the conversion into equity of approximately $3.4 million of non-interest bearing bridge loans made by an affiliate of our Chairman and CEO, converted on the same basis as investors in our $13.9 million fourth quarter 2006 private equity financing.
The net loss applicable to common shareholders for the fourth quarter ended December 31, 2006 was $2,680,557, or $0.09 per share, compared to a net loss applicable to common shareholders of $475,781, or $0.33 per share, for the comparable quarter in 2005, representing an increase in net loss of $2,204,776. Of this amount, only $1,153,832 represented cash expenses incurred in the fourth quarter while $1,526,725 represented non-cash, non-recurring expenses relating to equity issued in consideration for license fees under our COPREXA(TM) license and an accrued dividend on one of our subsidiary's preferred stock that has since been retired.
The net loss applicable to common shareholders for the year ended December 31, 2006 was $4,860,095, or $0.50 per share, compared to the net loss applicable to common shareholders of $1,546,092, or $1.71 per share, for the year ended December 31, 2005, representing an increase of $3,314,003. The increase in net loss was attributable to an increase in research and development expenses of $1,719,490 that primarily related to Pipex's COPREXA(TM) NDA directed activities as well as activities associated with development of our other product candidates, TRIMESTA(TM), CORRECTA(TM), Anti-CD4 802-2 and EFFIRMA(TM). The increase in net loss was also due to $1,696,950 in non-cash expenses relating to equity issued in consideration of license fees under our COPREXA(TM) license and an accrued dividend on one of our subsidiary's preferred stock since retired.
Steve H. Kanzer, Chairman and Chief Executive Officer, commented on the financial results, "During the fourth quarter 2006 we completed a $13.9 million equity financing with leading institutional investors and became publicly traded for the first time in our six-year history. Today's filing of our 2006 annual report is our first as a public company. We are making substantial progress in assembling our New Drug Application (NDA) for COPREXA(TM) (oral tetrathiomolybdate) for neurologically-presenting Wilson's disease and we plan to file our NDA later this year. We are also very optimistic about the opportunity to build the therapeutic utility of COPREXA(TM) into other disease indications also characterized by high unmet medical needs, such as idiopathic pulmonary fibrosis (IPF), an indication in which COPREXA(TM) has already completed a one-year, open label phase II clinical trial."
Today, April 2nd, at 8:30am EDT, Pipex will host an investor conference call during which a brief financial overview of the Company's fourth quarter financial results will be provided.
In order to participate in the webcast/conference call, please call toll free: 800-418-6860 (US); international dial-in: 973-935-8756; before the scheduled start of the call. A visual presentation will be available at: http://www.visualwebcaster.com/event.asp?id=38758. The audio recording and visual presentation will be available for replay at http://www.pipexpharma.com for a period of at least 15 days after the call.
About Pipex Pharmaceuticals, Inc.
Pipex Pharmaceuticals, Inc. is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of neurologic and fibrotic diseases. Pipex's strategy is to exclusively in-license proprietary, clinical-stage drug candidates and complete the further clinical testing, manufacturing and regulatory requirements sufficient to seek marketing authorizations via the filing of New Drug Applications (NDAs) with the FDA in the U.S. and Marketing Application Authorizations (MAAs) with the European Medicines Evaluation Agency (EMEA). For further information, please visit, www.pipexpharma.com.
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, that reflect Pipex Pharmaceuticals, Inc. and subsidiaries ("we," "our" or "Company") current expectations about its future results, performance, prospects and opportunities, including statements regarding the potential uses of COPREXA(TM) for various uses including the treatment of Alzheimer's disease, inflammatory and fibrotic diseases, as well as its the prospects for regulatory filings in the treatment of neurologic Wilson's disease. Where possible, the Company has tried to identify these forward-looking statements by using words such as "anticipates," "believes," "intends," or similar expressions. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. We cannot assure you that we will be able to successfully develop or commercialize products based on our technologies, including COPREXA(TM), TRIMESTA(TM), SOLOVAX(TM), EFFIRMA(TM) or Anti-CD4 802-2, particularly in light of the significant uncertainty inherent in developing, manufacturing and conducting preclinical and clinical trials of new pharmaceuticals, and obtaining regulatory approvals, that our technologies will prove to be safe and effective, that our cash expenditures will not exceed projected levels, that we will be able to obtain future financing or funds when needed, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that we will be able to successfully obtain any further grants and awards, maintain our existing grants which are subject to performance, that we will be able to patent, register or protect our technology from challenge and products from competition or maintain or expand our license agreements with our current licensors, or that our business strategy will be successful. All forward-looking statements made in this press release are made as of the date hereof, and the Company assumes no obligation to update the forward-looking statements included in this news release whether as a result of new information, future events, or otherwise, other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, including risks detailed in the Company's SEC reports, including the Company's Form 10-KSB. Copies of the filings are available at www.sec.gov.
For Further Information Contact: Steve H. Kanzer, CPA, Esq. Chairman and Chief Executive Officer (734) 332-7800 Charles Bisgaier, Ph.D. President (734) 332-7800 Redington, Inc. (Investor Relations) Thomas Redington 203-222-7399 www.redingtoninc.com
SOURCE: Pipex Pharmaceuticals Inc.
http://www.redingtoninc.com Recent PPXP Headlines
April 2, 2007
8:33AMPipex Pharmaceuticals Announces Fourth Quarter and Year End 2006 Results
March 30, 2007
8:00AMPipex Pharmaceuticals to Host Webcast to Discuss Fourth Quarter and Year End 2006 Results
March 12, 2007
8:34AMPipex Pharmaceuticals, Inc. to Present on March 13th at BioSquare 2007 Conference
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BUYINS.NET: VEXP, BANY, FCPG, PPTI, UDHI, MKBY Have Also Been Added To Naked Short List Today
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Velocity Express Corporation (NASDAQ: VEXP) and its subsidiaries provide transportation and distribution/logistics services to individual consumers and businesses primarily in the United States. Its scheduled logistics services include daily pickup and delivery of parcels. The company's distribution logistics services comprise the receipt of customer bulk shipments that are divided and sorted at metropolitan locations and delivered to multiple locations. Its expedited logistics services include expedited point-to-point service for customers with time sensitive delivery requirements. The company primarily serves customers operating in the commercial and office products, healthcare, financial, transportation and logistics, technology, and energy sectors. It also operates in Canada. Velocity Express, formerly known as United Shipping & Technology, Inc., was founded in 1979 and is headquartered in Westport, Connecticut. With 27.31 million shares outstanding and 328,714 shares declared short as of March 2007, there is a failure to deliver in shares of VEXP.
Banyan Corporation (OTCBB: BANY) through its subsidiaries, engages in the operation and franchising of chiropractic clinics in North America. It also provides diagnostic testing services. The company provides practice development training and assistance to chiropractors, as well as offers franchise support and related services to franchisees. It offers nerve conduction velocity testing through doctors and chiropractors, which measures the transmission of nerve impulses in the body and identifies problems in the nervous system. Banyan was incorporated in 1978 and is based in Los Angeles, California. With 484.28 million shares outstanding and 190,000 shares declared short as of March 2007, there is a failure to deliver in shares of BANY.
Face Print Global Solutions, Inc. (OTCBB: FCPG) a software-development company, develops facial recognition and facial imagery solutions in the United States. The company develops the E-DNA Bioprint Coding System, for the transmission of data related to individual faces. The company intends to serve various markets, including public safety and security (law enforcement and homeland security), military access control, and immigration and border controls, as well as serves correctional departments, government agencies, Department of Motor Vehicles, and the Justice Department. Face Print Global was founded in 2003 and is based in Fresno, California. With 122.34 million shares outstanding and 500 shares declared short as of March 2007, there is a failure to deliver in shares of FCPG.
Protein Polymer Technologies, Inc. (OTCBB: PPTI) engages in the research, development, production, and clinical testing of medical products. It primarily focuses on developing protein polymers, which are used in soft tissue augmentation, tissue adhesives and sealants, and drug delivery devices. Through its proprietary technology, the company produces molecular weight polymers that can be processed into a variety of material forms, such as gels, sponges, films, and fibers. In addition, PPTI is developing an injectable product, which is useful as a urethral bulking agent for the treatment of female stress urinary incontinence; an injectable dermal augmentation product for the treatment of contour deficiencies; and an injectable protein-based formulation based on PPTI's proprietary tissue adhesive technology for the repair of damaged or deteriorated spinal discs. PPTI was founded in 1988 and is headquartered in San Diego, California. With 67.41 million shares outstanding and 2,303 shares declared short as of March 2007, there is a failure to deliver in shares of PPTI.
Union Dental Holdings, Inc. (OTCBB: UDHI) through its subsidiaries, provides dental services for various union members in the United States. It offers its services through a network of licensed dental providers in accordance with arrangements between the company and various unions. Union Dental Holdings manages a dental practice in Coral Springs, Florida. As of December 31, 2005, the company consisted of 1,100 licensed dentists located in 12 states. Union Dental Holdings is headquartered in Coral Springs, Florida. With 47.61 million shares outstanding and 19,087 shares declared short as of March 2007, there is a failure to deliver in shares of UDHI.
McKenzie Bay International, Ltd. (OTC: MKBY) a development stage company, through its subsidiaries, develops wind powered alternative energy systems. The company is developing WindStor, a wind energy system to generate and distribute electricity at urban and off-grid facilities with a WindStor Vertical Axis Wind Turbine and System Integrator. It also owns a Lac Dore Vanadium-Titanium deposit in Quebec, Canada. McKenzie Bay International was incorporated in 1998 and is based in Ada, Michigan. With 34 million shares outstanding and 6,000 shares declared short as of March 2007, there is a failure to deliver in shares of MKBY.
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I went to the site. The video quality is still incredibly choppy and blotchy. I have a cable modem. I am not noticing any difference with this supposed broadband improvement.
can you make a post of the comparisons...would be helpful to not just me but all of us.
Soooo...how exactly is WTVI going to pay for this $1 million advertising campaign...more shares thrown out there I fear :(
If that's what you're expecting, you're in for a real disappointment. We topped at .0021 with the last press release and then dropped right back to where we were before it. With only a day of momentum from that press release, I think you're being quite a bit unrealistic. I would be thrilled if I could unload my shares at .0025
yeah, wishful thinking (for those that missed, I wrote a penny by accident)
Dropped to .001 :(
My expectations are greatly lowered
Just take all these opinions with a grain of salt.
Last week everyone seemed to think .0015-.0016 was the bottom, and then we ended up going all the way back to where we were pretty much (i.e. .0011-.0012).
People predicted a press release today, there has been none.
Keep in mind there are a lot more shares out on the market, and the stock cannot increase as great as it has in the past.
The next run, I will sell when it drops from its peak. That is just my opinion, and I could lose on a chance to make a lot more money, or maybe it is the perfect move.
Just look at charts and numbers as opposed to baseless opinions when deciding what to do with your shares.
Well apparently, I may have overreacted. AMEX might have a pps requirement and so having the authority to do this might be a positive. I'm guessing this is why the pps is rising dramatically today.
Zigbee, any thoughts, you seem to be really in the know with this.
Reverse Stock Split?
See this http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=ppxp&filenum=&State=&SIC=&o...
Latest filing gave the board the authority to effect a 1:3 reverse split occuring no earlier than April 25. Hmmm? Now rethinking how long I want to hold on to this.
Word must be getting out...finally in the green on this stock!!! Wish I wasn't lacking in funds so that I could have added more last week.
This drop back to where we were was way too quick! I should've sold...crap!
So today in the paper there is an article that media giants are seeking to rival YouTube. It mentions Fox, NBC and others are seekign ways to stream their content and make money off advertisement.
Odds that we will see a press release based on this? I say 75%
Odds that WTVI has taken advantage of this sentiment...0.1%
10M share dump at 0.1 at 2:40 :(
For those of you that called last week and claimed Gelmon would be back Monday to take your call...did you ever get him, or was that all b.s. on your part or theirs?
How likely do you think it is they will make it to the AMEX, and realistically, will it be in the Second Quarter? I.e. is management all talk, or do they back up their statements? Thanks.
I am new to this stock, caught it at what I originally thought its bottom was, a $1.50. I'm now debating trying to add more at the $1.25-$1.30 range. It seems pretty stable there.
Yeah I know. I was being sarcastic in reference to the PR back when WTVI had its run to 8 cents where they quoted Bill Gates talking about internet streaming video, even though he wasn't talking about Wi-Fi TV at all.
But I was just pointing out how they like to spin PRs. Even the wedding site one, they open up with the total market value of the wedding industry. Posting wedding videos online...might be one-millionth of a percent of that.
I'm about ready for another misleading PR implying Bill Gates knows these guys exist so that I can break even on my shares. Wish I had noticed this pattern of PRs before I bought. I got caught up in the drastic rise and new platform PR. And to the person who said the China PR could mean whatever you want, you are correct. All they are saying is that they have technology that would allow them to be in compliance with Chinese laws. That's all that is certain.