Tenax Therapeutics Inc (TENX)

[king oil]

Oxygen Biotherapeutics stock rises after company announces launch of skin cream

DURHAM, N.C. (AP) - Shares of Oxygen Biotherapeutics soared Monday after the company announced the launch of its skin treatment cream sooner than expected.

The Durham, N.C., company said it started distributing over-the-counter Dermacyte Oxygen Concentrate for the beauty and skin care market, and that online orders will be accepted later this week.

Analyst Jason Napodano said Oxygen Biotherapeutics had initially planned to launch the product in May. Napodano covers the company for Zacks Investment Research.

Company officials said in a statement the cream quickly sold out when they did a test launch last fall, and they have since made improvements.

Napodano said Oxygen Biotherapeutics plans to eventually sell the product as an eye cream, moisturizer, body lotion and treatment for small cuts or burns.

"Once you've got the platform and you get the brand awareness, then you just kind of get more shelf space by adding more stuff in there," he said. "I think it's a pretty interesting strategy for the company."

Shares of Oxygen Biotherapeutics Inc. rose $1.24, or 27 percent, to $5.88 in Monday afternoon trading.

http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9EOE7E00