Radient Pharmaceuticals Corporation fka RXPC

[lakeshore555]

Radient's last 10-K says CIT is worthless.

blackpantherz, here is the link to the 10K. Go to page 11. Do some DD. Learn to trust SEC filings and not message board chatter and rumors.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8697129-1048-659364&type=sect&TabIndex=2&companyid=4985&ppu=%252fdefault.aspx%253fcik%253d838879

Radient says that CIT is worthless and took a final impairment of $1 million. That's about what they paid for CIT back in 2000.

"Due to the following conditions at December 31, 2010, we decided to impair the remaining balance of our CIT asset:

· Lack of any potential future revenue;
· Lack of future cash flows;
· High cost of future clinical studies; and
· Limited time remaining on the patent."

"In January 2011, NuVax signed four exclusive license agreements with the University of Florida Research Foundation, Inc. (“UFRF”), for the development and marketing of a cancer therapeutic product developed by the UFRF. In July 2011, the UFRF terminated the agreements due to lack of funding. "

Let me summarize. Radient realized that CIT was worthless in Dec 2010. They tried to work with Bhatia and Chang on Chang's newer technology, "a cancer therapeutic product developed by the UFRF," NOT CIT, but Radient ran out of money and Bhatia and Chang and the Univ of Florida all quit.