Wednesday, October 31, 2012
U.S. Geothermal, Inc. (HTM) Signs Memorandum of Understanding for Power Purchase Agreement at Major Project Outside Guatemala City
U.S. Geothermal, a company boldly pioneering the most abundant source of renewable energy on the planet, producing electricity from the tapping/harvesting of the planet’s own core temperature, reported signage of a memorandum of understanding to negotiate a key power purchase agreement on one of their concessions near the populous Guatemala City (El Ceibillo Project), between the company’s wholly-owned subsidiary, U.S. Geothermal Guatemala, S.A., and one Central America’s biggest distributors.
This vital 24.7k-acre concession, awarded to the company back in April, sits in the heart of the Aqua and Pacaya twin volcano complex. With nine existing 560 to 2k foot wells, six of which gauge in the 365°F to 400°F range and strong indications (high conductive thermal gradients) of a highly permeable, geometrically hotter with depth reservoir below the existing well field, HTM is sitting on a power gold mine just outside of Guatemala’s capital, one of Central America’s largest cities with a huge outlying population.
Today’s announcement of a memorandum of understanding, which will serve as a framework for the power purchase agreement, gives HTM a really solid footing in the region and contains stipulations for a 15-year purchase window at up to 50MW per year. Given the further stipulation of a regionally competitive pricing model that should account nicely for prevailing conditions, as per a yearly average of $145.00 per MWh (Guatemalan wholesale market administrator figure), we have a tidy little package deal emerging for HTM’s fourth project, in addition to the thriving generation projects in Idaho, Nevada, and Oregon.
With the geothermal reservoir confirmation via an independent engineering firm remaining, in addition to permitting and other clearances, as well as locking down the capitalization, the power purchase agreement will be well-served by due diligence over the coming months. U.S. Geothermal is bucking hard to make their Central American position into a real winner here.
Developing this kind of ultra clean, ultra renewable energy by harnessing the raw power of the earth’s core, far surpasses all other forms of conventional generation, which merely expend a fuel source to produce heat/stream in most cases anyways (to turn a turbine). U.S. Geothermal plans to not only work over the existing well set but deepen them and introduce new wells, ultimately gearing towards the choice heat down in the 410°F to 446°F range.
CEO of HTM, Daniel Kunz, outlined how the power purchase agreement secured by the memorandum would lead to some exceptional long-term economic viability, asserting that the planned roll out of an initial 25MW (double flash steam-based) system could start providing renewable power to the massive market soon, while helping to offset Guatemala’s lagging dependence on imported fossil fuels.
Logistical success should make the 2015 production target a snap, and beyond the sweet financial metrics, investors will have to marvel at how companies like HTM are today realizing the incredibly vast potential of geothermal. With operating assets in Raft River, Idaho, and San Emidio, Nevada, in addition to their startup in Malheur County, Oregon, the company is wielding around 69.5k acres of prime geothermal territory and stands poised to be one of the real success stories of the industry.
For more information on U.S. Geothermal, please visit the company’s website at: www.USGeothermal.com
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GlobalWise Investments, Inc. (GWIV) is Part of Two Growing Industries
GlobalWise Investments, through its wholly-owned subsidiary, Intellinetics, offers advanced cloud-based Enterprise Content Management (ECM) solutions to commercial and government operations in a way that allows secure authorized access to critical documents and information from anywhere in the world, and any time of day or night. The bottom line for organizational clients is that previously buried information now becomes available to whoever needs it, whenever they need it, regardless of where they are, providing a major operational advantage. For GlobalWise, the unique combination of advanced ECM software and cloud technology gives them a foot in both the ECM industry and cloud computing space, representing two significant growth industries.
The ECM industry, designed to greatly facilitate the capture, storage, and access of all types of documents, is expected to grow by over 10% annually, and exceed $5.7 billion by 2014. The rapidly growing volume of documents and information that organizations must now process on a daily basis is clogging operational arteries, creating a drain on resources. ECM, which GlobalWise now integrates with existing document scanning and copying functions, makes the capturing and retrieval of this information easy, positively affecting all operational aspects.
The adoption of cloud computing is expected to maintain a compound annual growth rate of over 25%. Of special significance is the Tier 3 and Tier 4 market (small to mid-size business) that GlobalWise targets, an important part of the $149 billion overall business software and services industry. The GlobalWise flagship platform, Intellivue, represents a new industry benchmark, combining advanced virtualization and automated content management with an open and service oriented architecture using Web services. Cloud processing is the only way that offers increasingly diversified, scattered, and complex organizations the ability to access the information they need in a totally flexible way.
For additional information on GlobalWise Investments, visit www.GlobalWiseInvestments.com
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Uranium Resources, Inc. (URRE) Nails Groundwater Safety at New Mexico ISR Project, Study Paints Bright Future for Mining Operations
Uranium Resources, which has in-situ recovered (ISR) over 8M lbs of uranium out of the earth since the company’s inception in the rich Texas Gulf Coast uranium region back in 1977 (now holding four major properties, while controlling two evaluation projects in the region), reported positive groundwater safety findings today on their Church Rock Section 8 project (McKinley County, New Mexico), drawing on the extensive material contained in the Section 8 / Navajo-Gallup Groundwater Report and Conjunctive Use Evaluation study.
This study, which was a joint effort between the City of Gallup and the Navajo Nation authorities, looked at the environmental impact of ISR operations at the project with respect to existing water wells for the respective entities, in addition to those wells serving Fort Wingate and Rhoboth. Conclusively, the evaluation shows that not only is the ISR methodology extremely safe and environmentally friendly, but that no discernable risk exists for groundwater contamination.
This is a glowing report that spells a big green light for URRE’s Church Rock S8 project and it details clearly that there should be no complications for future mining operations either, something which allows the interested parties to rest easy, secure in the knowledge that the wells and the Navajo-Gallup Water Supply Project will remain untainted. The long-term results are always important in uranium mining and it is indeed reassuring to have a good future vector for extraction mapped out in the study. With future wells not being a problem, the site could quickly evolve as the company’s major flagship project in New Mexico.
The company currently holds some 206k acres (152.9M lbs of in-place mineralized uranium material) in New Mexico, with a 1M lbs/year production license. After accumulating vast amounts of data in the form of assay certificates, drill hole logs, maps, and technical reports over the last two decades, URRE is well-positioned with a variety of properties like Church Rock to really make a name for itself in New Mexico. New Mexico and Texas form a strong resource base for URRE and with this kind of undeveloped uranium potential under the company’s thumb, the possibilities for partnering are increasingly choice as the asset base is expanded, especially with larger firms that lack access to new resource targets, or with junior’s who lack the logistical capacity and know-how of a URRE.
Senior VP of Health, Safety, and Environmental Standards for URRE, Mark S. Pelizza, was quite pleased with the results, confirming to shareholders that the satisfaction of both chief parties via this joint effort roundly substantiates the company’s own analysis. Church Rock looks safe to mine and the company’s ISR proficiency will prove to be not only ideal for extraction, but extremely delicate. Of course this is one of the benefits of ISR in general and URRE is a master of the technique, which uses injection and recovery to literally drink the uranium right out of the ore body, leaving the rock undistributed.
Pelizza called the jointly developed study a “solid step forward” towards satisfying the concerns of the Navajo Nation, with whom URRE is still in talks and he underscored how the study was essentially over-designed to yield high tolerances for safety.
The Navajo Nation and the City of Gallup pegged veteran engineering, geoscience, and hydrology firm, B. Stephens and Associates, Inc., to handle the report preparation, and it is important to note that the groundwater migration rates and proximity of supply wells were both calculated as being well above projections. In addition to this over-design characteristic, employed out of circumspection and to give the interested parties all the more reason to okay the project, natural dilutive geochemical processes which would remove the element over time were also disregarded, resulting in truly high-fidelity assertions. Given this over-design of the parameterization, in combination with the positive final safety results, investors will be keen to see just how fast uranium development activity accelerates for URRE at Church Rock.
With over 430 operating reactors on earth today, chewing up over 177M lbs of yellowcake each year (36% over last year’s production), the fundamental dynamics are clear for nuclear. Four to six new reactors may come online domestically by 2020 after a three-decade stint of depressed construction, while abroad in places like China, they have 25 being built, including some of the most advanced in the world. Yes, the future for nuclear power is indisputable and globally the market is quite large for the kind of high-quality yellowcake URRE will be pulling out of the ground in New Mexico and Texas, giving shareholders solid price horizons and investors a hot play with some serious upside potential.
For more information on Uranium Resources, visit www.UraniumResources.com
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CytRx Corp. (CYTR) Closes Public Offering of Common Stock; Begins Plans of Advancing Aldoxorubicin Development
CytRx, a biopharmaceutical company that specializes in oncology, recently announced that it had closed its previously announced underwritten public offering of 9,200,000 shares of common stock, including the exercise of over-allotment option by the underwriters covering 1,200,000 shares, at a public offering price of $2.50 per share.
CytRx has stated that it intends to use the net proceeds of the offering to fund the clinical development of its drug candidates aldoxorubicin and tamibarotene, as well as for general corporate purposes, which may likely include working capital, capital expenditures, research and development expenditures, and other commercial expenditures.
Following the success of its Phase 1b/2 trial, CytRx recently announced that it initiated an open-label single-center Phase 1b clinical trial to evaluate the pharmacokinetics of its tumor-targeting doxorubicin conjugate aldoxorubicin (formerly known asINNO-206) in patients with metastatic solid tumors who have either relapsed or not responded to treatment with standard therapies. The goal of this study is to obtain data that will help identify the duration of exposure after infusion of aldoxorubicin as well as define the peak drug levels reached after treatment with different doses of the drug.
Dr. Monica Mita at Cedars Sinai Medical Center in Los Angeles, California, will oversee the single-center Phase 1b clinical trial. Dr. Mita will also evaluate the pharmacokinetics and safety of a new formulation of aldoxorubicin administered at doses of 230 mg/m2 and 350 mg/m2 every 21 days for up to 8 consecutive cycles. CytRx plans to use data collected from the study to further future regulatory submissions and partnership discussions.
CytRx had previously announced favorable results from its aldoxorubicin Phase 1b/2 clinical trial, stating that the data showed “clinical benefit” (defined as partial response and stable disease of more than four months following up to eight cycles of treatment) for those patients that received the maximum tolerated dose of aldoxorubicin. Of evaluable patients, all of whom suffer from relapsed or refractory soft tissue sarcoma, 10 in 13 (77%) exhibited signs of clinical benefit.
For more information on CytRx Corporation, visit www.cytrx.com
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SEFE, Inc. (SEFE) and Natural Electricity
The renewable energy movement, which has jumped dramatically in worldwide governmental and commercial support over the past decade, has largely focused on the conversion of various natural energy sources into electricity. Natural energy, in the form of sunlight, wind, or geothermal heat, can be captured, but it is then usually converted into electricity. Electricity can be viewed as the “currency” of energy, a common unit that facilitates exchange. Electricity is readily transportable and convertible back into mechanical and other forms of energy. However, what scientists have discovered over time is that electricity also exists in its pure form in nature.
The obvious example is lightening, where huge voltages and currents light up the sky during thunderstorms. But there are other less familiar examples of the natural generation of electricity. It has long been known, for instance, that certain materials generate electrical charge when an outside mechanical force is applied. It’s called the piezoelectric effect, and it is believed to occur naturally during earthquakes, when quartz, a piezoelectric material, is put under pressure during geological shifts, generating observable electrical effects in the ionosphere. In addition, a natural current flow, called the Wilson current, has been measured above electrified clouds. Even clouds that do not generate lightening have been found to possess significant Wilson currents.
In the case of SEFE, a way has been found to actually tap a vast reservoir of widespread static electricity that is present in even non-storm atmospheric conditions. The Colorado company has discovered, and is continuing to develop, ways to generate electricity directly from the earth’s atmosphere, in virtually any location and weather condition. The efficiency losses that are a normal part of converting mechanical or other energy sources to electricity are not a factor with the SEFE system, since the captured energy is already pure electricity. The only conversion required is from DC to AC for easier utilization. The SEFE approach has other clear advantages over traditional renewable energy generation. Unlike geothermal or hydroelectricity, it is not tied to a specific location. Nor does it require a large land footprint. And it produces energy that doesn’t require daylight or specific wind or weather conditions.
For more information on SEFE, visit www.SEFElectric.com and www.Revmodo.com
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Chelsea Therapeutics International Ltd. (CHTP) Video Chart for Wednesday, October 31, 2012
CHTP appears to have finally found a bottom in recent months of making higher lows. Last Thursday and Friday, the stock price broke-out past resistance around $1.50 on a surge in volume which has the chart on radar to now test the 200-day moving average and continue its new bullish trend.
To view the video chart, visit the following link: http://www.missionir.com/videos.html
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Compugen Ltd. (CGEN) Reports Discovery of Two Novel Drug Candidates for Cancer Immunotherapy
Compugen is a therapeutic product discovery company focused on therapeutic proteins and monoclonal antibodies to address important unmet medical needs in the fields of immunology and oncology. To discover drug candidates, the company utilizes a broad and continuously growing integrated infrastructure of proprietary platforms, algorithms, machine learning systems, and other computational biology capabilities.
The company announced today the discovery and initial validation of two new drug target candidates for monoclonal antibody cancer therapy. These two candidates have been shown to be expressed in multiple types of tumors and were demonstrated to have an immunomodulatory activity in affecting both innate and adaptive immune response. This provides the potential for an efficient and targeted approach in cancer treatment.
In recent in vitro studies, both of these immune checkpoint molecules have shown distinct activity inhibiting two key subtypes of immune cells, Natural Killer cells and T cells. These important immune cell subtypes act to recognize and kill tumor cells and have key roles in the immune system’s response to tumor development.
Antibodies directed at and blocking each of these immune checkpoints could remove their inhibitory effect on T cells and NK cells. This will enhance the anti-tumor activity of these pivotal immune cell subsets, promoting efficient cancer immunotherapy and long-lived tumor destruction. The two Compugen-discovered molecules indicate enhanced expression in a number of cancers including lung, ovarian, breast, colorectal, gastric, and liver cancer.
For additional information about Compugen and its entire drug pipeline, please visit www.cgen.com
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Tuesday, October 30, 2012
AtheroNova, Inc. (AHRO) Completes $2.95M Sale of Common Stock to Accredited Investors
AtheroNova, through its wholly-owned subsidiary, AtheroNova Operations, is a development stage company currently researching novel patents-pending applications of certain natural compounds to regress atherosclerotic plaque deposits, a process called delipidization. To prepare for human trials, and to validate the findings of its initial study, AtheroNova is currently in the process of conducting two additional animal studies. The company plans to develop multiple applications for its compounds which are to be used in pharmaceutical-grade products for the treatment of atherosclerosis.
AtheroNova recently announced that it had completed a sale to accredited investors of an aggregate of 5,850,000 units, which are composed of one share of the Company’s common stock and a warrant to purchase 0.5 shares of common stock. The private placement raised a total of $2,925,000 million with net proceeds of approximately $2.0 million, after deducting fees and expenses and conversion of bridge loans that were previously advanced to the company. AtheroNova noted that net proceeds are expected to be used as working capital and for continued development of the company’s compounds.
Thomas W. Gardner, Chief Executive Officer of AtheroNova, stated, “We are pleased to announce the completion of this fund raise as it clearly provides the runway through our upcoming milestones and gives us the capital necessary to move through both Phase I and II clinical trials. Our partnership with Maxwell Biotech Group’s CardioNova subsidiary for funding of the clinical trials, along with these private placement funds, gives us the capital to move our primary compound to the end of Phase II as well as allowing for development of existing and additional intellectual property on our allowed patent for lipid modulation.”
Additionally, the company announced its support for an additional preclinical study to expand on the uses of compounds under the company’s pending patents. The study is to be conducted at UCLA’s The David Geffen School of Medicine on a contractual basis.
AtheroNova also recently presented at two conferences: Thomas W. Gardner, Chairman and CEO, presented at the 2012 Aegis Health Conference in Las Vegas, NV, and Mark Selawski, CFO, presented at the Rodman & Renshaw 14th Annual Healthcare and Global Investment Conference held in New York City.
Mr. Gardner and Mr. Selawski both discussed exciting near term milestones for AHRO-001, the company’s lead compound for regression of atherosclerotic plaque, as well as the company’s pipeline and development plans.
For more information on AtheroNova, visit www.atheronova.com
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Cel-Sci Corp. (CVM) Announces Safety Data from Interim Review and Third Quarter 2012 Financial Results
Cel-Sci Corp., a late-stage oncology company, is involved in the research and development of immunotherapy products for the treatment of cancer and infectious diseases. The company’s core capabilities include: drug discovery, research, development, and manufacturing of complex biological substances.
Cel-Sci recently announced the results of an interim review of the safety data from its open label, randomized, controlled, pivotal Phase III study of Multikine (Leukocyte Interleukin, Injection) investigational immunotherapy by an Independent Data Monitoring Committee (IDMC) which cited no safety concerns. Additionally, the IDMC went on to indicate that no safety signals were found that would call into question the benefit/risk of continuing the study.
This comes as positive news for the company, as up to 30% of Phase III trials fail due to safety considerations. As such, these results are considered highly important, and the IDMC’s safety findings from this interim review were similar to those reported by investigators during the CEL-SCI’s Phase I-II trials. Ultimately, the FDA will make the final decision as to whether the drug is safe based on assessment of all the data from a completed trial.
“Our Phase III study is continuing to enroll patients on a continuous basis on three continents around the world,” said Geert Kersten, CEO of CEL-SCI Corporation. “We recently presented CEL-SCI and the Multikine head and neck cancer Phase III study at the 8th International Head and Neck Cancer conference in Toronto, Canada and interest was high among clinical investigators in joining our study. We continue to believe that adding our Multikine immunotherapy to the existing head and neck cancer treatments will create a new paradigm for the treatment of head and neck cancer.”
For more information on Cel-Sci Corp., visit www.cel-sci.com
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FluoroPharma Medical, Inc. (FPMI) Presents Products at Two Major Scientific Forums, Raises Revenue Forecast
FluoroPharma Medical, a company specializing in the development of novel diagnostic imaging products that utilize positron emission tomography (PET) technology for the detection and assessment of disease before clinical manifestation, recently announced a considerable increase in its revenue forecast.
Thijs Spoor, Chairman, CEO, and President of FluoroPharma Medical, made the announcement during his presentation at the Rodman & Renshaw Annual Global Investment Conference in New York City. Mr. Spoor noted that the decision to increase the revenue estimate reflected growing confidence in the strength of the company’s portfolio.
The pivotal event that spurred this increase was, in large part, due to FluoroPharma’s diagnostic imaging products being included at two major scientific forums. The company announced that, on September 7, 2012, its BFPET images were presented at the 17th Annual Scientific Session of the American Society of Nuclear Cardiology (ASNC) at the Mario Verani Lecture. Dr. Gary V. Heller included the images in his lecture on “Nuclear Cardiology in 2012 and Beyond: Can we Meet the Challenges?”
Additionally, FluoroPharma noted that two abstracts describing its products were presented as posters at the World Molecular Imaging Congress, held in Dublin Ireland.
“Our initial focus is on cardiology, the largest segment of the nuclear medicine market,” noted Mr. Spoor. “As our products advance through clinical trials, we are even more confident that we have three significant opportunities in this critically important market. Molecular imaging fulfills numerous unmet diagnostic needs by enabling visualization, characterization and measurement of biological processes at the molecular and cellular level.” Mr. Spoor continued, saying, “Unlike the traditional imaging modalities of MRI, CT and ultrasound, which reveal anatomical abnormalities, PET provides insight into physiology and can detect disease before an anatomical manifestation is identified. The combination of both modalities is becoming a more powerful tool; helping doctors address the question, ‘What do I do next for this patient?’”
For more information on FluoroPharma Medical, visit www.fluoropharma.com
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ChromaDex Corp. (CDXC) Receives Two Additional Contracts; Announces Significant Finding in Nutritional Ingredient pTeroPure®
ChromaDex, an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, animal health, cosmetic, and pharmaceutical industries, announced on October 29, 2012, that it had been awarded two method validation study contracts from the Office of Dietary Supplements (ODS), National Institutes of Health (NIH). These awards come as part of a contract ChromaDex formed with the General Services Administration (GSA) — Schedule 66: Scientific Equipment and Services, SIN 873-2: Chemical Testing and Analysis Services, Contract Number: GS-07F-0243W, Contract Period: March 1, 2010 to February 28, 2015.
These contracts will be used to create single laboratory validated methods for the quantitative determination of total silymarin content of milk thistle and of total curcuminoid content in turmeric. In addition to having analytical tools to evaluate dietary supplement identity and purity, as mandated by the Current Good Manufacturing Practices (cGMPs) from the Food and Drug Administration (FDA), this also provides a critical factor for assurance of public safety, developing and maintaining quality assurance standards in manufacturing, and for meaningful efficacy testing of these products.
“We are honored to be awarded these contracts by the NIH and ODS, as they provide further recognition of ChromaDex’s phytochemical analytical expertise and the long history of collaboration between ChromaDex and the NIH in the area of dietary supplement reference standards and analytical testing. With the implementation of cGMPs now in full force, the industry needs to have robust analytical methods that they can rely on, such as the ones that will be developed by ChromaDex under the two contracts,” stated Frank Jaksch, CEO and Founder of ChromaDex.
ChromaDex also recently announced that it will partner with Phenomenex, a global leader in the research and manufacture of advanced technologies for the separation sciences, to provide solutions to customers with a combination of reference standards, scientifically valid methods, and application support. The collaboration will combine Phenomenex’s strengths in analytical high-performance liquid chromatography (HPLC) with ChromaDex’s extensive line of reference standards, which are used for quality control in dietary supplement manufacturing. The first three new solutions produced from the collaboration were presented as scientific posters at the Association of Analytical Communities (AOAC) annual meeting in Las Vegas.
Additionally, ChromaDex made a significant breakthrough in September 2012, when it announced findings from its Phase 2/3 trial at the University of Mississippi Medical Center showing that its patented nutritional ingredient pTeroPure® (pterostilbene) significantly reduced blood pressure in adults. Findings from the study, the first clinical trial of the pure compound, were presented on the 20th of September at the American Heart Association’s High Blood Pressure Research 2012 Scientific Sessions. It is worth noting that ChromaDex’s product, pTeroPure®, was the recipient of the 2010 North American Most Promising Ingredient of the Year award by the independent research company Frost & Sullivan. pTeroPure® is a nature-identical form of pterostilbene, an antioxidant found in blueberries.
“We saw reduced overall blood pressure in patients who received the high dose of pterostilbene,” stated Daniel M. Riche, PharmD, Cardiometabolic Clinic Coordinator at the University of Mississippi School of Pharmacy, the study’s principle investigator. “The results of this study highlight that pterostilbene is a promising ingredient in the area of cardiometabolics.”
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Monday, October 29, 2012
SkyPeople Fruit Juice, Inc. (SPU) Announces Receipt of Four New Patents
SkyPeople Fruit Juice, a company engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in the PRC and overseas markets, announced that it was granted four new patents, each with a statutory patent period of 20 years, by the State Intellectual Property Office of the People’s Republic of China (SIPO) in September 2012. The patents granted to SkyPeople are related to the company’s innovative production methods and techniques, each of which can help more effectively produce a variety of fruit juice products.
The company stated that it had received, in September 2012, the patent certificates for the following four patents:
On September 12, 2012, SkyPeople received the following two patent certificates on:
• A Kiwifruit cider beverage and its production method (Patent No. ZL 2009 1 0022739.1)
• A production technology for strawberry juice concentrates (Patent No. ZL 2010 1 0209900.9)
On September 26, 2012, SkyPeople received the following additional two patent certificates:
• A production technology for turnjujube juice concentrates (Patent No. ZL 2010 1 0108318.3)
• A production technology for cherry juice concentrates (Patent No. ZL 2010 1 0209899.X)
The patent applications for the aforementioned patents were filed by SkyPeople back in 2009 and 2010, followed by a comprehensive review by SIPO. The company, upon being granted the new patents, expects to obtain market exclusivity for its innovative production methods and techniques for a period of 20 years. With the addition of these four new patents, SkyPeople now holds six active patents and has several additional patent applications in the process.
Mr. Yongke Xue, Chief Executive Officer of SkyPeople, stated: “We are pleased to obtain these patents which reflects our capability to develop proprietary and innovative production techniques that continuously increase operational efficiency and product quality. Our continued efforts to obtain new patents via our commitment to research and development, are part of a long-term growth strategy that we believe will ultimately benefit our business performance in the future.”
For more information on SkyPeople Fruit Juice, visit www.skypeoplefruitjuice.com
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Fox International Productions Announces Production Deal with Bona Film Group Ltd. (BONA)
Fox International Productions (FIP), a division of 20th Century Fox Film Corporation, and Bona Film Group, one of China’s largest motion picture producers and distributors, announced an agreement that includes development co-production and joint distribution of Chinese language films.
“This is a significant step in what we believe will be a long-term, multi-faceted collaboration with News Corp. and its subsidiary companies,” said Mr. Dong Yu, Founder, Chairman and CEO of Bona Film Group Limited. “The films released under this partnership will combine Bona’s deep understanding of production, distribution and audience preferences in China with FIP’s international expertise to create movies that satisfy audiences’ growing demand for blockbuster characteristics. We look forward to the cooperation and anticipated opportunities with FIP.”
Earlier this year, Bona entered a different agreement in which they secured a strategic investment from News Corp., the parent company of 20th Century Fox Film. Under that investment agreement, News Corp. acquired a 19.9% equity stake, which enables News Corp. to gain a strategic advantage in China’s film industry. The new partnership between Fox International Productions and Bona furthers that relationship and enhances Fox’s position in China.
Industry growth is expected to accelerate even further over the next several years, moving China into the number two slot in worldwide box office revenue. According to China’s State Administration of Radio, Film, and Television (SARFT), the gross box office for the first half of 2012 totaled RMB 8.1 billion ($1.3 billion), up 41.7% from the same period in 2011. As evidenced by Box office sales, China is the world’s third largest film market behind the United States and Japan. Box office receipts in China increased nearly 30% in 2011.
Sanford Panitch, President of Fox International Productions, stated: “We continue to be excited about the opportunities in the world’s fastest growing market. Mr. Yu’s vision for Bona combined with the company’s stature as one of the leading distributors makes for great opportunities to co-produce and co-distribute Fox International Productions films in China.”
20th Century Fox Film, a division of News Corp., produces, acquires, and distributes motion pictures throughout the world. These motion pictures are produced, acquired, or distributed by the following units of 20th Century Fox Film: Twentieth Century Fox, Fox 2000 Pictures, Fox Searchlight Pictures, Fox International Productions, and Twentieth Century Fox Animation/Blue Sky Studios.
Bona Film Group Limited is a leading film distributor in China that distributes films to Greater China, Korea, Southeast Asia, Europe, and the United States. The company has an integrated business model encompassing film distribution, film production, film exhibition, and talent representation. Bona invests and produces movies in a variety of genres, owns and operates 15 movie theaters, and manages a range of talented and popular Chinese artists.
For more information about Bona, please visit www.bonafilm.cn
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Ampio Pharmaceuticals, Inc. (AMPE) to Launch Larger Study for the Treatment of Diabetic Macular Edema
Ampio Pharmaceuticals, a developer of innovative proprietary drugs for metabolic disease, eye disease, kidney disease, inflammation, sexual dysfunction, and CNS disease, recently provided an update on their drug, ZetaneTM, as well as reported positive news from a meeting with the FDA regarding a clinical trial for its product, OptinaTM.
Ampio announced on September 12, 2012, that it had entered into a definitive agreement with Ethypharm LTD for the manufacturing of its drug for the treatment of premature ejaculation, ZetaneTM. The drug is specifically formulated as an orally disintegrating tablet (ODT) manufactured by Ethypharm under patented processes jointly owned by Ethypharm and Ampio. Ampio had previously acquired the ODT formulation technology from Valeant back in December of 2011.
Ampiro’s agreement with Ethypharm will ensure the conduct of pivotal trials of Zetane™ in the USA as agreed with the FDA. This includes the delivery of the final packaged drug as well as all documentation necessary for registration and approval processes with the FDA and other regulatory agencies, in addition to several other factors (including package registration completion, finalizing pricing, and expanding trials in several additional countries).
In other recent news, the company announced that it had successfully held a pre-IND meeting with the FDA’s ophthalmology division of the Center for Drug Evaluation and Research (CDER). The meeting took place on July 31, 2012, and was sought by Ampiro to gain guidance for a clinical trial path for its product, OptinaTM. The FDA approved the current trial pathway, raising no safety or CMC concerns, and agreed that no additional non-clinical studies were necessary.
Dr. Vaughan Clift, Ampio’s Chief Regulatory Officer, stated, “We are now able to launch a larger study using visual acuity rather than Optical Coherence Tomography (OCT) as the measure of efficacy and we are able to adjust the dosage to body mass index (BMI) to achieve the optimal benefit. We are pleased that the injectable drug Lucentis™ is likely to be approved and made available to the underserved DME patients. We believe Optina™ may provide additional advantages to these patients, as Optina™ is administered orally and is based on a very low dose of a previously approved drug, danazol. Extensive clinical experience with the drug has allowed the FDA to permit Ampio to use the 505(b)2 path for drug registration. The 505(b)2 is a significantly shorter and less expensive path than those of new chemical entities. There is an obvious advantage to an oral drug vs. one that requires injection directly into the eye. Complications such as eye infection, increased intra ocular pressure (IOP) and local eye irritation reported in the Lucentis™ studies are NOT a concern for Optina™.”
For more information on Ampio Pharmaceuticals, visit www.ampiopharma.com
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AspenBio Pharma, Inc. (APPY) Proposes Name Change; Provides Investors with Update
AspenBio Pharma is an emerging biomedical diagnostic company dedicated to the development of AppyScore™, a test that is designed to help emergency physicians manage the large numbers of patients who enter emergency departments each year complaining of abdominal pain, many of whom are suspected of having acute appendicitis but are at low risk for the disease. The company is focused on obtaining U.S. FDA clearance and the European “CE Mark” for this test.
AspenBio recently reached out to shareholders, asking them to approve changing its name to Venaxis, Inc. The company had previously addressed the potential for a name change as part of its strategic rebranding in line with its focus on AppyScore. Also part of the corporate re-alignment AspenBio seeks to attain, the company further asked for shareholder approval on an increase in the number of shares available under its equity plan.
“We believe ‘Venaxis’ is more reflective of our current business,” said Steve Lundy, President and CEO of AspenBio. “The name is a combination of ‘Vena’ and ‘Axis’. Vena is Latin for vein, which ties to our product, a blood-based in vitro diagnostic test that is entering a pivotal study. Axis conveys the idea of a central or principal structure, which lends the proposed Company name strength and agility. We are focused on the future and we believe Venaxis provides an important foundation to build a long-lasting brand in the diagnostics sector.”
In addition to these proposed measures, AspenBio also provided its shareholders and the broader investment community with an update on its clinical business activities. Part of this announcement focused on the company’s plan to initiate a pivotal study during the fourth quarter of 2012. The study will pertain to its blood-based appendicitis test. The decision to move ahead with the study came after a productive meeting was held with the U.S. Food and Drug Administration (FDA). While seeking approval in the U.S., AspenBio plans to obtain CE Mark before the end of the year and introduce the product in Europe shortly after.
“We are very pleased with the recent progress we have made in executing on our key development objectives,” said Steve Lundy, President and CEO of AspenBio. “Most importantly, after meeting with the FDA, we plan to initiate our pivotal study in the U.S. during the fourth quarter. We are currently modifying the study protocol in accordance with the FDA’s constructive feedback, and we continue to engage hospitals across the U.S. for participation in our study. In parallel, we are preparing to launch the product in Europe once we obtain a CE Mark, which we anticipate receiving during the fourth quarter.”
For more information on AspenBio Pharma, visit www.aspenbiopharma.com
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TrovaGene, Inc. (TROV) at a Glance: Company Leverages Urine-based Diagnostics Technology for Early Detection of Disease
Trovagene is a molecular diagnostics company currently developing tests for screening, detection, and monitoring of cancer, organ transplantation, infectious disease, and prenatal genetic testing. The company has a claim to intellectual property based around the discovery that cell-free DNA, RNA, and other types of nucleic acids pass through the kidney into the urine. These “Transrenal Nucleic Acids” (TrNAs) can help diagnose certain diseases including cancer and infection.
Trovagene’s non-invasive sampling and analysis of these nucleic acids can lead to early detection, effective treatment monitoring, and management of the illness. The company has both U.S. and European patents, as well as patent applications pending.
In September the company announced its agreement with Strand Life Sciences Pvt. Ltd., of Bangalore, India, to validate and commercialize Trovagene’s proprietary urine-based Human Papillomavirus (HPV) test. The accuracy of the HPV test was previously demonstrated in a 320-patient study that compared Trovagene’s test with a competitive test that is based on traditional cervical scraping sample. The study showed Trovagene’s test to have analytical sensitivity and specificity of 93 percent and 96 percent, respectively, for detection of high-risk HPV strains, as compared to 78 percent and 86 percent for the competitive test.
For more information visit www.trovagene.com
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BioSpecifics Technologies Corp. (BSTC) Provides Update on XIAFLEX Treatment and Presents Findings at Several Conferences
BioSpecifics Technologies, a biopharmaceutical company that has developed injectable collagenase for twelve clinical indications, remains busy, recently announcing a series of presentations and also releasing a safety update for its product, XIAFLEX®. Marketed in the United States for the treatment of adult Dupuytren’s contracture patients with a palpable cord in the palm, XIAFLEX is in clinical development for the treatment of several additional promising indications.
Tom Wegman, President of BioSpecifics, has made several presentations over the last few months. Most recently Mr. Wegman spoke at the UBS Global Life Sciences Conference on Thursday September 20th, 2012. Earlier in the month Mr. Wegman presented at two conferences: the Rodman & Renshaw 14th Annual Health Care Conference on September 10th, and the ThinkEquity 9th Annual Growth Conference on September 13th. All presentations were held in New York, NY, and replays of the presentations are available on the company’s Web site.
On September 5th, 2012, Biospecifics Technologies announced a safety update following 30 months of post-approval use in the U.S. for XIAFLEX. As reported by BioSpecifics’ strategic partner Auxilium Pharmaceuticals, after about 27,000 injections were administered to approximately 21,000 patients in the U.S., there was no clinically meaningful change in the nature of events expected relative to the clinical trial safety profile.
Thomas L. Wegman, President of BioSpecifics, stated, “We are very encouraged by the continued low number of adverse events reported since the U.S. launch of XIAFLEX for Dupuytren’s contracture patients, which we believe reaffirms the excellent safety profile of XIAFLEX. These data also demonstrate the success of Auxilium’s physician and sales force training programs and we look forward to the launch of its pilot program for select rheumatology clinics later this year.”
For more information on BioSpecifics Technologies, visit www.biospecifics.com
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Friday, October 26, 2012
RTI Biologics, Inc. (RTIX) Launches New Biologic Implant, BioReady™ DBM Putty
RTI Biologics, a processor of orthopedic, dental, surgical specialties, and other biologic implants, today announced the launch of an innovative, new biologic implant for use in sports medicine, orthopedic, and pine surgeries. BioReady™ DBM Putty and Putty with Chips is an instant use, 100 percent allograft DBM product. BioReady DBM putty is included in RTI’s DBM portfolio, which already features BioSet™ DBM Paste and BioAdapt™ Foam.
BioReady DBM Putty is a ready-to-use demineralized bone matrix (DBM) implant that provides convenience, robust handling, verified osteoinductive* potential, and sterility. It was introduced at the RTI Biologics exhibit at the North American Spine Society (NASS) annual meeting in Dallas this week.
BioReady DBM Putty and Putty with Chips are 100 percent allograft, and each donor lot is tested for osteoinductive potential. Data shows that BioReady DBM Putty retains its osteoinductive potential throughout its entire shelf life. This ready-to-use implant does not require any preparation, such as thawing or mixing, and it is available in various sizes for use as a bone void filler in many types of surgical procedures.
“BioReady is an exciting allograft solution that complements our portfolio of DBM implants including BioSet and BioAdapt,” said Roger Rose, executive vice president and chief commercial officer for RTI Biologics. “This ready-to-use implant addresses a significant clinical need and ensures that we maximize every gift of donation received.”
All of RTI’s implants go through a sterilization process validated by tissue type. The sterilization process used for BioReady DBM Putty is known as the Cancelle™ SP Demineralization Process. It uses a mixture of oxidative treatments and acid or alcohol washes to remove cellular debris and deactivate pathogens. Subsequent cleansing rinses serve to remove residual chemicals, maintaining biocompatibility.
For further information, please visit www.rtix.com
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Streamline Health Solutions, Inc. (STRM) Business Analytics and Automated Workflow Solutions to Be Implemented by Mountain States Health Alliance
Today, Streamline Health Solutions announced that Mountain States Health Alliance (MSHA) has chosen Streamline Health’s OpportunityAnyWare business analytics and automated workflow solution suite to bring automation and performance management to vital areas of its acute and ambulatory revenue cycles.
A 13-hospital system across Northwest Tennessee and Southwest Virginia, MSHA has more than 10,000 team members, including 407 physicians. The organization plans to implement Streamline Health’s solutions system-wide, including its OpportunityAnyWare, 835DenialWare, AuditWare, and ARWare, to facilitate greater transparency, ownership, and accountability throughout the MSHA enterprise. Streamline Health’s solutions will be integrated into MSHA’s existing scheduling, contract management, patient accounting, practice management, and electronic billing systems – well-equipping its hospitals and physician practices to protect their revenues and also driving operational and financial performance for the organization.
MSHA is seeking to gain better insight into areas of financial opportunity through the business intelligence and data-mining capabilities of Streamline Health’s solutions, and Streamline Health’s automated workflow management system will help minimize the cost-to-collect and also improve cash flow – resulting in reduction of outstanding accounts receivable, maximum denial overturn rates, and an increase in net revenue and cash yield.
Streamline Health has a proven record of helping large healthcare organizations, like MSHA, improve business processes and overall financial performance. MSHA is eager to gain improved visibility into areas of its revenue cycle through Streamline Health’s solutions and resultantly make adjustments to improve its operations.
Streamline Health Solutions is a leader in providing SaaS-based healthcare information technology solutions for hospitals and physician groups. The company has offices in Cincinnati, Atlanta, and New York, and its comprehensive solutions suite includes enterprise content management (ECM), business analytics, integrated workflow systems, clinical documentation improvement (CDI), and computer-assisted coding (CAC). Across the revenue cycle, the company’s solutions provide healthcare enterprises with a flexible, customizable way of communicating between disparate departments and information systems to improve processes, boost productivity and optimize clinical, administrative, and financial performance.
For more information, visit www.streamlinehealth.net
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VentriPoint Diagnostisc Ltd. (VPTDF) 2D Diagnostics Tool Gives Unique Insight to Cardiovascular Awareness
Medical device company VentriPoint Diagnostics has created a diagnostic ultrasound tool to monitor patients with heart disease primarily in Canada and Europe, though the company has installed its Angelo (VMS™) heart visualization systems in the United States as well.
VMS is a 2D ultrasound imaging technology that eliminates disadvantages of an MRI scan without sacrificing accuracy. The VMS analytics software helps sonographers and cardiologist obtain correct and accurate coverage of the heart for analysis purposes, but side-steps less favorable features of an MRI, such as a long wait list, hour-long scan time, general anesthesia for children, and a second trip to the hospital for heart analysis.
The company recently installed one of its VMS systems at the Seattle Children’s Hospital, where it will be used for investigational purposes to study children with congenital and acquired heart disease. Dr. Brian Soriano, interim director of Echocardiography Laboratory for the Seattle Children’s Hospital, in a recent press release voiced his anticipation that the device will offer more accurate and precise ventricular volumes in a fraction of the cost and time as compared to traditional assessments.
“Cardiac MRI, considered the reference standard for ventricular volumes, is costly, requires a large amount of time to obtain images, and may be accessible only on a limited basis in some hospitals. When compared to traditional echocardiographic methods, VMS™ has the potential to offer more accurate and precise ventricular volumes in a time-efficient manner,” Dr. Soriano stated in the September press release.
Canada and Europe (CE Mark) have granted approval for the sale of VentriPoint’s VMS diagnostic tool; the company is pursuing U.S. FDA approval through the 510(k) process.
For more information, visit www.ventripoint.com
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ClearOne Communications, Inc. (CLRO) Debuts MagicBox Signage Server
ClearOne announced that the company has released its new MagicBox on-premise Entry-Level Server (ELS) for digital, web-based signage. The digital signage system works with the cloud-based MagicBox WebSuite, which also saw announced upgrades on the 25th. These products and upgrades are scheduled for availability in November.
ClearOne is focused on developing and marketing conferencing, collaboration, streaming, and digital signage solutions for audio, video, and data multimedia. ClearOne is the manufacturer of the MagicBox system as well as the MagicBox WebSuite series of products.
The ELS includes several applications, such as Composer, Ad Logger, and Audio Manager, which manage, build, and publish ads, log impressions, and manage audio playlists for projects. In addition, the updates to the MagicBox WebSuite allow for new functionality, such as: the ability to be configured either to pull or push content and schedule information from the server; allowing customers to manage and publish content from anywhere with an internet connection, as well as supporting workgroup and playlist capabilities.
Tom Searcy, VP of ClearOne Digital Signage, said, “With the ELS, customers will greatly benefit from the ability to control and administer full digital signage solutions on their own private and secured networks. With a flexible and scalable architecture and no recurring fees, the total cost of a web-based signage solution is well within reach. New features in the MagicBox WebSuite software improve the control of multiple media players at one or many locations and also provide flexibility and access for multiple users with different management rights in the system. By offering both the ELS and SaaS models, our digital signage customers now have the option of hosting with either an on-premise server or a cloud-based solution, according to their digital signage requirements and business models.”
For more information, visit www.clearone.com
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Cowen Group, Inc. (COWN) Announces Ramius Managed Futures Mutual Fund Has Been Added to Recommended List on Fortigent’s Alternatives Platform
Ramius LLC, the worldwide alternative investment management business of Cowen Group, has announced that the Ramius Trading Strategies Managed Futures Fund (Ticker: RTSIX, RTSRX) has been added to the recommended list of mutual fund products on Fortigent LLC’s alternatives platform. Fortigent is a leader in providing high-net-worth solutions and consulting services to RIAs, banks, and trust companies.
Ramius was selected after a rigorous due diligence process. Being chosen as one of the recommended mutual funds for Fortigent’s rapidly growing platform is evidence of Fortigent’s confidence and trust in Ramius’ products and services. Ramius will now have the opportunity to offer liquid alternatives – which are fast becoming an important investment option for investors to diversify their portfolios – on Fortigent’s highly selective platform.
Ramius recently published a detailed view of the liquid alternative investment space with a focus on managed futures investing. This white paper can be accessed at http://goo.gl/wMpDE.
Founded in 2009, Ramius Trading Strategies (RTS) is an affiliate of Cowen Group, Inc. and Ramius Alternative Solutions LLC. RTS provides multimanager products investing in independent managers in the managed futures and global macro space. All RTS products utilize RTS’ managed account platform, supported by RTS’ proprietary risk and research systems as well as the operational infrastructure of Ramius.
Grand Distribution Services LLC distributes Ramius Alternative Strategy Mutual Funds.
Ramius is the global alternative investment management business of Cowen Group, offering a wide range of investment solutions to institutions and private clients throughout the world. Cowen Group is a diversified financial services firm. Together with its consolidated subsidiaries, Cowen Group provides alternative investment management, investment banking, research, and sales and trading services through Ramius and affiliates, the company’s alternative investment management segment, and Cowen and Company, its broker-dealer segment. The company’s alternative investment management products, solutions, and services include hedge funds, replication products, managed futures funds, fund of funds, real estate, healthcare royalty funds, and cash management services. Cowen and Company offers industry-focused investment banking for growth-oriented companies, domain knowledge-driven research, and a sales and trading platform for institutional investors. The firm was founded in 1918 and is headquartered in New York, with offices located in major financial centers across the globe.
For more information, visit the company’s Web site at www.cowen.com
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Tonix Pharmaceuticals Holding Corp. (TNXP) Pushes to Join Ranks of Heavyweight Counterparts with a Different Spin on Fibromyalgia Treatment
Tonix Pharmaceuticals Holding Corp. develops treatments for central nervous system syndromes such as fibromyalgia and post-traumatic stress disorder (PTSD). The company’s candidates utilize new formulations of cyclobenzaprine, the active ingredient in two FDA-approved prescription muscle relaxants. Tonix recently met with U.S. regulators to discuss and receive guidance for the proposed development of the company’s tablet formation of cyclobenzaprine for bedtime use for the treatment of PTSD, and plans to file an Investigational New Drug (IND) application for PTSD by the end of the year.
Tonix expects to enter phase 3 trials for its most advanced product candidate, sublingual TNX-102 SL, for the treatment of FM and PTSD in the first quarter of 2013. The company plans to enroll 76 patients for the 12-week study with a primary endpoint of pain reduction. Upon successful completion of this trial, Tonix will move into the confirmatory phase 3 program in Q1 2014.
Thus far, Tonix has been issued three U.S. patents relative to TNX-102 and has also been granted “use of composition” and “composition and methods” patents outside the United States. Additionally, the company has patents pending for treating fatigue using a low dose of cyclobenzaprine, as well as for the treatment of PTSD and depression.
Current FDA-approved treatments for fibromyalgia are Pfizer’s (PFE) Lyrica; Eli Lilly’s (LLY) Cymbalta; and Forest Laboratories’ (FRX) Savella. While these oral formulated drugs are used to treat pain associated with fibromyalgia, there is no drug on the market for improving sleep quality in fibromyalgia patients. Tonix believes its cyclobenzaprine formulation sublingual TNX-102 SL, which is dissolved under the tongue and is absorbed directly into the bloodstream, can reduce pain and improve sleep quality.
For more information visit www.tonixpharma.com
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U.S. Government Sues Bank of America for Mortgage Fraud
Federal prosecutors hit the country’s largest bank, Bank of America, with a $1 billion-plus lawsuit civil mortgage fraud earlier this week. Prosecutors accused the bank of coming up with a scheme that defrauded federally-backed mortgage buyers Fannie Mae and Freddie Mac during the financial crisis of 2008-09. This lawsuit is the sixth filed in the past 18 months by the Manhattan U.S. Attorney’s office against major U.S. banks over allegations of reckless mortgage practices that contributed to the 2008 financial crisis.
Fannie Mae and Freddie Mac perform a key function in the U.S. financial system. The agencies buy mortgages from banks, package them together, and in turn sell these packages of mortgages to investors. When these agencies buy mortgage loans from banks, it allows the banks to make new loans to aspiring homeowners. Fannie and Freddie also guarantee loans that are packaged into securities and sold to investors.
The complaint filed in U.S. District Court in New York accuses Bank of America of using a loan origination program called the “Hustle” to process mortgage applications at high speeds with little checks done with regard to fraud, misstatements, or other wrongdoing. Officially, the program was called HSSL or High Speed Swim Lane. Employees were awarded bonuses based solely on volume.
The HSSL program allegedly was in operation from at least 2007 through 2009. It was started under Countrywide Financial and Countrywide Home Loans and was continued by Bank of America after it bought Countrywide’s operations in a July 2008 transaction.
The result was defective mortgages that defaulted shortly after Bank of America sold them to Fannie Mae and Freddie Mac. These faulty mortgages resulted in losses to the government-backed agencies in excess of $1 billion, sticking U.S. taxpayers with the bill according to prosecutors.
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Fuel Tech, Inc. (FTEK) Lands $2.6M in Orders from Chinese Utilities for ULTRA Nitrogen Oxide Reduction Systems, Anticipates More Orders
Fuel Tech, the Warrenville, Illinois-headquartered cleantech, advanced engineering, and proprietary technologies firm, which has developed a fully-integrated capital projects business and specialty chemicals business between their Air Pollution Control technologies on the one hand and proprietary FUEL CHEM® processes on the other, announced reception today of two contracts in China for the company’s proprietary ULTRA™ system, valued at some $2.6M.
The company has built a solid reputation around the world for a steadfast commitment to pushing the envelope in emissions and process optimization for the utility/industrial space. Both the capital projects end of the business and the specialty chemicals end derive great benefit from FTEK’s unique outcome-based chemical injection methodologies, which employ precise concentrations injected into key combustion unit locations.
Both of the awards announced today come from new utility companies, the first looking to upgrade units at two of their small and one of their medium-sized coal fired operations with nitrogen oxide (NOx) reduction technology, the second looking to implement similar upgrades across four medium-sized coal fired units. Delivery on the first and larger of the two awards will occur post haste over the next four quarters as the units are retrofitted, with the second award being serviced with hardware delivery in Q4 this year.
Fuel Tech’s ingenious ULTRA technology achieves extremely effective, highly selective catalytic reduction of NOx via the safe, on-site conversion of urea to the ammonia reagent used, thus eliminating all of the hazardous material handling concerns typically associated with anhydrous or aqueous ammonia. No worries about transporting the stuff, no worries about handling it. We are talking point of use generation and application here, taking FTEK’s proprietary FUEL CHEM technology and doing the same thing the company has done for some 110 combustion units to date in the customizable FUEL CHEM program, showing the technology’s capacity to revolutionize burning the full gamut of inputs from coal and heavy oil, to biomass and municipal waste.
FTEK has a whole slew of NOx reduction implementations available, ranging from low NOx burners and over-fire air systems, to controlling NOx in the post-combustion stage. Systems like NOxOUT® and HERT™ Selective Non-Catalytic Reduction (SNCR) offer powerful process end caps for NOx flooring and with Advanced Selective Catalytic Reduction (ASCR™) technologies like NOxOUT CASCADE®, ULTRA™, and NOxOUT-SCR®, it is no wonder that today Fuel Tech is seen as a big dog in the hunt to reduce NOx, with over 700 installations worldwide across the gamut of inputs (including natural gas).
Chairman, President, and CEO of FTEK, Douglas G. Bailey, called it a triumph of the ULTRA technology, which has been making substantial waves around the world, with major resonance coming out of China in recent years. Bailey noted the considerable uptick in bid requests being generated by China for the company’s systems and how the implementation of selective catalytic reduction technologies was consequent with the PRC’s 12th Five-Year Plan. Bailey touted the revolutionary capabilities of the company’s systems for allowing operators to obtain environmentally sustainable vectors without compromising energy and processed materials output, asserting that Fuel Tech will continue to take a dominant, leadership role in the sector as the company’s proven cutting-edge solutions for air pollution control and process optimization, as well as their advanced engineering services, see increased uptake in China and elsewhere.
The FUEL CHEM tech is really quite impressive and the articulate application of chemicals to yield greater efficiency, reliability, and fuel flexibility are just icing on the squeaky clean environmental profile cake. The level of control over build ups like fouling, slagging, and opacity, as well as corrosion and the general operating problems caused by ammonium bisulfate, carbon dioxide, NOx, particulate matter (PM2.5), and sulfur trioxide, are a godsend to operators. One of the big secrets to FTEK’s success is the in-house expertise in high-end data visualization software environments and computational fluid dynamics modeling. This level of technical expertise, combined with the overall competency of personnel (over one quarter of the full-time staff holds advanced degrees), has resulted in a powerful mix of services and solutions. From providing physical devices and computational modeling services for energy generation and industrial applications (things like flue gas distribution and mixing), to airflow and coal flow testing, as well as boiler tuning, the combustion optimization offerings available to customers alone make FTEK a compelling selection for practical, technical solutions to the common optimization/emission concerns prominent today.
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Thursday, October 25, 2012
GT Advanced Technologies, Inc. (GTAT) Announces Availability of New Hydrochlorination Product
GT Advanced Technologies is a diversified technology company with innovative crystal growth equipment and solutions for the global solar, LED, and electronics industries. The company’s products accelerate the adoption of new advanced materials that improve performance and lower the cost of manufacturing.
The company announced today the availability of its new high-volume hydrochlorination solution capable of producing enough trichlorosilane (TCS) from a single hydrochlorination fluid bed reactor to support polysilicon facilities that are generating more than 10,000 metric tons yearly in capacity.
GT Advanced Technologies’ new solution lowers the cost of running these types of plants by 20% over current TCS production solutions. It does so by eliminating the need for multiple hydrochlorination fluid bed reactors. The company’s offering also includes its next generation hydrochlorination heater, which delivers further cost savings by raising conversion in the hydrochlorination fluid bed reactor from 27% to 30%.
Its latest polysilicon technology product offerings, including the new hydrochlorination solution and its SDR600 reactor capable of producing over 600 metric tons of polysilicon annually, allow for the production of polysilicon at cash costs of less than $14 per kilogram. This latest offering should help keep GT Advanced Technologies as the market leader in the sector. The company’s technology currently supports over 50,000 metric tons of annualized global polysilicon production.
For additional information about GT Advanced Technologies and all of its products, please visit www.gtat.com
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China Biologic, Inc. (CBPO) Announces Receipt of GMP Certificate for Human Coagulation Factor VIII
Yesterday, China Biologic Products announced that Shandong Taibang Biological Products Co. Ltd., its indirectly owned subsidiary, has received good manufacturing practice (GMP) certification from the China State Food and Drug Administration (SFDA) for Human Coagulation Factor VIII (FVIII). The SFDA previously granted manufacturing approval to Taibang for FVIII in June 2012. Now possessing both manufacturing approval and the GMP certificate, Taibang plans to immediately begin commercially manufacturing FVIII products.
FVIII is widely used for the treatment of hemophilia A. There is a substantial hemophilia patient population in China – estimated at between 60,000-100,000 persons afflicted and around 10,000 patients registered – who require lifelong treatment with medication. Only three domestic companies currently produce plasma-based FVIII products. In order to mitigate the situation of China’s significant under-supply of coagulation products, Taibang is in the process of building additional manufacturing line capacity for FVIII.
Executives at Taibang are encouraged by the receipt of both manufacturing approval and the GMP certificate, and with the addition of coagulation factor products, the company is pleased to now offer all three major categories of blood products to the market in China. Supplying FVIII will substantially improve the market penetration of the company’s plasma-based offering and further strengthen Taibang’s competitive position as one of the top plasma-based biopharmaceutical companies in China.
A leading fully integrated plasma-based biopharmaceutical company in China, China Biologic offers products that are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. Headquartered in Beijing, the company manufactures more than 20 plasma-based products through its indirect majority-owned subsidiaries, Shandong Taibang Biological Products Co. Ltd. and Guiyang Dalin Biologic Technologies Co. Ltd. China Biologic also has an equity investment in Xi’an Huitian Blood Products Co. Ltd. China Biologic sells its products to hospitals and other healthcare facilities in China.
For more information, visit the company’s Web site at www.chinabiologic.com
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iParty Corp. (IPT) Releases Third Quarter 2012 Financial Results
iParty, a party goods retailer, reported financial results for its third quarter of fiscal year 2012, which ended on September 29, 2012. Third Quarter 2012 highlights include:
• Consolidated revenues of $16.9 million for the third quarter of 2012, which is a 2.6% increase compared to the third quarter of 2011.
• Comparable store sales increase of 1.2% for the third quarter of 2012, and 2.9% for the nine month period then ended, as compared to the applicable prior year periods.
• Consolidated net loss for the third quarter of 2012 was $2.2 million, or $0.09 per basic and diluted share, compared to consolidated net loss of $2.8 million, or $0.12 per basic and diluted share, for the third quarter in 2011.
• Adjusted EBITDA net loss for the third quarter of 2012 of $1.8 million, compared to Adjusted EBITDA net loss in the third quarter of 2011 of $2.0 million, on a non-GAAP basis.
• The opening of one new full line party store in August and one new full line party store immediately after the close of the third quarter.
Operating Results
In addition to the highlights above, consolidated gross profit margin was 34.8% for the third quarter of 2012 compared to a gross profit margin of 34.3% for the same period in 2011. Adjusted EBITDA net loss, which adjusts the EBITDA net loss for the effect in 2011 of the Tropical Storm Irene flood loss, was $1.8 million, compared to $2.0 million in the third quarter of 2011.
As for the nine-month year-to-date period ended September 29, 2012:
• Consolidated revenues were $52.2 million, a 2.0% increase compared to $51.2 million for the first nine months of 2011. Consolidated revenues for the first nine months of 2012 included a 2.9% increase in comparable store sales from the year-ago period.
• Consolidated gross profit margin was 36.6% for the first nine months of 2012, compared to 37.0% for the comparable period in 2011.
• Consolidated net loss was $3.3 million, or $0.14 per basic and diluted share, compared to a consolidated net loss of $4.3 million, or $0.18 per basic and diluted share for the first nine months of 2011.
• EBITDA net loss was $2.2 million compared to an EBITDA net loss of $2.9 million for the first nine months of 2011 on a non-GAAP basis.
Sal Perisano, iParty’s Chairman and Chief Executive Officer, stated, “Historically our third quarter is a loss quarter as we prepare for the Halloween and holiday seasons. We are however pleased with the trends for the quarter which reflect an overall improvement in our business. Our sales, margins and operating expenses were all well within our expectations and our year to date net loss through the third quarter improved by approximately $1 million compared to last year. With our two new store fronts and what we believe to be a strong group of temporary Halloween stores, we have 64 storefronts open this Halloween, leaving us very well positioned entering into the all-important Halloween season and fourth quarter.”
iParty Corp., headquartered in Dedham, Massachusetts, is a party goods retailer that operates 54 iParty retail stores in New England and Florida, as well as an internet site for costume and related goods and party planning. iParty offers consumers a sophisticated, fun, and easy-to-use resource to help customize any party from birthday bashes to summer barbecues.
For more information, please visit www.iparty.com
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Zebra Technologies Corp. (ZBRA) Announces First Shipment of Ultra-Wideband Dart Systems
Zebra Technologies, a prominent leader in technologies that extend real-time visibility into business operations worldwide, announced the initial shipments of its new ultra-wideband (UWB) dart sensors and tags. The innovative products are Institute of Electrical and Electronics Engineers (IEEE) compliant. The Boeing Company, Shanghai URTLS Technology, and all other customers are utilizing the high performing Zebra IEEE UWB systems to track the location of assets, special purpose tools, and other equipment with incredible accuracy.
“Zebra’s IEEE Dart Ultra Wideband solutions ensure URTLS can deploy a truly global technology that can scale and interoperate with other IEEE compliant products. The development of the IEEE standard for UWB eliminates concerns about using proprietary solutions,” said Jinbo Yang, CEO of Shanghai URTLS Technology, a leading China-based real-time locating system (RTLS) company.
Zebra’s Dart UWB solutions allow users to precisely track personnel, assets, and transactions in real time with unmatched performance. With the IEEE compliant Zebra tags and sensors, used in concert with Zebra Dart hardware and software, end users have an unprecedented level of interoperability and can design real-time locating systems based on their specific needs.
The adoption of new technologies is frequently delayed by the typical lag of industry standards. This delay has a significant impact on organizations to gain greater insight into their value chains concerning new technologies such as UWB. A global study recently commissioned by Zebra Technologies discovered that 66 percent of people surveyed cited system integration as a substantial challenge for implementing Internet of Things (IoT) solutions. Announced in the spring of 2012, the new IEEE standard enables users to develop a system founded on an open, globally recognized standard.
For further information, please visit www.zebra.com
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BG Medicine, Inc. (BGMD) to Provide Galectin-3 Testing Services in China via an Agreement with Kindstar Diagnostics
BG Medicine, a life sciences company focused on the discovery, development, and commercialization of novel cardiovascular diagnostics, announced that it has signed an agreement with Kindstar Diagnostics Co. Ltd., the largest esoteric diagnostic testing business in China, enabling Kindstar to offer galectin-3 testing services for heart failure management in China. In the US, the BGM Galectin-3(R) test is cleared by the FDA as an aid in assessing the prognosis of patients with chronic heart failure.
Kindstar, a company that provides esoteric diagnostic testing services to hospitals and physicians in every province of China and provides laboratory testing services to over 2,000 Chinese hospitals, will offer galectin-3 testing services as part of its growing suite of cardiovascular tests. Kindstar has a broad reach and strong network in the burgeoning diagnostic testing market of China, which is in the process of reforming its health care system under its Healthy China 2020 initiative. While the country works to expand health care coverage for its 1.4 billion citizens, a substantial and increasing segment of the population currently pay out-of-pocket for essential medical services, which provides a ready market for diagnostic testing services like galectin-3 testing.
“We are excited to be partnering with Kindstar, the largest diagnostics lab in China, to further expand the footprint of galectin-3 testing throughout the world,” said Eric Bouvier, President and Chief Executive Officer of BG Medicine. “Cardiovascular disease is one of the most prevalent and debilitating diseases in China, affecting more than 230 million people, and we believe that Kindstar’s galectin-3 testing services will help to provide medical professionals with clinical information on fibrosis formation and cardiac remodeling, which are important biological processes in the development and progression of heart failure, while also helping to manage the costs of expanding health care coverage to more of China’s citizens.”
“Every minute six people in China die from cardiovascular disease, making it imperative that we do what we can to improve the lives of those affected,” said Dr. Shiang Huang, Chief Executive Officer of Kindstar Diagnostics. “We believe that clinically relevant and novel markers like galectin-3 will help medical professionals in China identify patients who are at greatest risk for developing heart failure, which assists us to focus the most attention on those who need it.”
In addition to this agreement with Kindstar in China, BG Medicine has marketing and distribution agreements with leading national and regional testing facilities in the United States, including Health Diagnostics Laboratory, Laboratory Corporation of America, Cleveland Heart Laboratory, Mayo, Atherotech and ARUP. BG Medicine has also partnered with leading diagnostic instrument manufacturers, including Abbott Laboratories, Alere, bioMerieux and Siemens, for the development and commercialization of automated versions of galectin-3 testing.
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Cardium Therapeutics, Inc. (CXM) Acquisition of To Go Brands Further Taps Growing Supplements Market
The recent acquisition by Cardium Therapeutics, a health sciences and regenerative medicine company, of To Go Brands, a private California-based nutraceutical company, is in line with Cardium’s strategy of accelerating the growth and development of their own MedPodium health supplements platform. MedPodium is Cardium’s portfolio of science-based nutraceuticals, metabolics, and aesthetics, designed to promote healthy lifestyle interests such as enhancing energy, cognition, mood, sleep, weight management, fitness, and aesthetics. The acquisition provides Cardium with a greatly expanded marketing and distribution network, together with an established line of compatible products.
To Go Brands has developed and sells 25 health supplement related products, including 100% natural antioxidant rich drink mixes with organic ingredients, in various forms for easy use, along with capsule-based dietary supplements. Their products are sold online, and in a wide range of retail stores, such as Kroger, Whole Foods, GNC, Hi-Health, Vitamin World, and many others. To Go Brands sales for the first 6 months of 2012 totaled $1.7 million.
The acquisition also brings Cardium an experienced management team with key contacts, and a successful record of developing and taking to market new health products through different channels. The agreement calls for To Go Brands to coordinate Cardium’s MedPodium line, using To Go Brands’ established logistics and distribution capabilities. They will also work with Cardium’s strategic investment in SourceOne Global Partners, a leading supplier of science-based ingredients and proprietary formulas to the national supplement and functional food and beverage industries.
Cardium CEO, Christopher J. Reinhard, commented on the growth of the supplements market: “According to a new industry report, U.S. supplement sales are estimated to total $11.5 billion in 2012 and are projected to reach $15.5 billion by 2017. The success of products like Five Hour Energy® have shown that the nutraceutical space has the potential to generate billion dollar products without the extensive regulatory and other hurdles biologics and pharmaceuticals face.”
For additional information, visit www.CardiumTHX.com
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