Arrowhead Research Corp. (ARWR) soars on news of positive data from weight loss drug
Posted on: November 10th, 2011Written by:
Nanomedicine company, Arrowhead Research Corp. (Nasdaq: ARWR) announced on Thursday that data from its subsidiary’s obesity drug demonstrated weight loss, reduction in body mass index and abdominal circumference in obese rhesus monkeys.
The data, which was published in Science Translational Medicine (Sci Trans Med 3, 108ra112 (2011) DOI: 10.1126/scitraslmed-3002621), demonstrates that monkeys treated with Adipotide lost an average of 11 percent of their body weight after only four weeks of treatment.
Adipotide-treated animals also showed marked improvements in insulin resistance, suggesting the potential for use in treating type-2 diabetes.
Shares of the Pasadena-based Arrowhead Research Corp. touched a new 52-week high of $1.19 on Thursday, up 120 percent from Wednesday’s c losing price of $0.54.
“Safely and effectively treating the obesity epidemic is one of the great unmet needs in medicine today,” said Dr. Christopher Anzalone, President and Chief Executive Officer of Arrowhead in a November 10 press release. “This study is a radical step forward for both Ablaris’ technology and the treatment of obesity.It is uncommon for an obesity treatment to be successfully translated from rodent studies to non-human primates. Ablaris’ approach is distinguished from others in the field by its unique mode of action. By acting directly on the vasculature that supports fat tissue rather than on the brain, we believe that we can avoid many of the safety issues that have blocked other anti-obesity drug candidates. We are extremely encouraged by the results achieved to date with Adipotide and believe that Ablaris’ unique technology offers a significant advantage to combating obesity as we prepare to enter the clinic in the near-term.”
Perma-Fix Environmental Services, Inc. (PESI) reports record Q3 revenue
Posted on: November 3rd, 2011Written by:
Waste management and engineering services company Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) reported record third quarter revenue thanks in large part to increased treatment of higher activity and more complex waste streams.
The Atlanta-based company reported third quarter revenue of $32.8 million, a 43 percent increase over revenue of $22.9 million in the same period last year. Revenue for the Nuclear Segment increased 44.0% to $32.1 million from $22.3 million for the same period in 2010. Revenue generated from the DOE Hanford Site increased approximately $787,000 for the quarter while $9.0 million was derived from an increase in waste processed at our treatment facilities. Revenue from the Engineering Segment increased to $701,000 from $581,000 for the same period in 2010.
Net income for the third quarter of 2011 increased to $6.0 million, or $0.11 per share, versus a net loss of $1.1 million or $0.02 per share, for the same period in 2010. Net income for the third quarter of 2011 included a gain on the sale of PFFL of approximately $1.8 million, partially offset by a loss from discontinued operations of $187,000.
“The second half of 2011 is proving to be one of the strongest periods in our history and we believe this demonstrates that our strategy is working,” said Perma-Fix Environmental Services’ chairman and CEO, Dr. Louis F. Centofanti in a November 3 press release.
“We also improved our balance sheet during the quarter. As a result of our strong cash flow, coupled with the recent sale of Fort Lauderdale facility, we had over $10.7 million of cash and just $5.7 million of total debt at the end of the third quarter.”
Positron Corp. (POSC) soars on news of $38 million bonds award
Posted on: September 21st, 2011Written by:
Molecular imaging company, Positron Corp. (OTCBB: POSC) was up more than 49 percent in mid-day trading on Wednesday, after the company announced that the Indiana Finance Authority approved its $38 million Midwestern Disaster Area Bond volume cap application.
Shares of Positron touched a daily high of $0.029, in mid-day trading on Wednesday, up from Tuesday’s closing price of $0.0181.
According to a September 21 press release, the bonds will be a part of an overall long-term strategic investment Positron is making in its proposed high energy 70 MeV cyclotron project and radiopharmaceutical manufacturing facility in Noblesville, Indiana.
Positron is a molecular imaging company focused on Nuclear Cardiology. Positron provides innovative molecular technologies and services that are reshaping the field of nuclear cardiology through proprietary PET imaging and radiopharmaceutical solutions with a strong commitment to advancing the practice and technology of nuclear medicine.
Generex Biotechnology Corp. (GNBT) spins out, stock points higher
Posted on: September 15th, 2011Written by:
Generex Biotechnology Corp. (OTCBB: GNBT) saw its shares gain 8.7% to 9.89 cents, as Thursday’s markets closed, on news of the spinout of one of its subsidiaries. Volume for the stock was 1.3 million shares, nosing out its full-day average.
A news release dated Sept. 15 announced that the company, based in Worcester, Mass., provided an update on the status of the previously announced spinout of its wholly-owned subsidiary, Antigen Express, Inc.
The Company is in the midst of a detailed and comprehensive review of several transaction opportunities, including both shell companies and operating biotech companies with synergistic intellectual properties, in each case Securities and Exchange Commission registrants and Depository Trust Company eligible companies, into which Antigen Express will be merged.
Generex CEO Mark Fletcher, “We are undertaking our due diligence examination of available alternatives with a view to identifying an appropriate transaction for the Antigen Express spinout.
“We will proceed with expedition to negotiate an agreement with the target company, complete the merger of Antigen Express into that company, and conduct an initial fund raising. If the merger and the initial fund raising are successful, we will then seek a listing of the merged company’s stock on a national stock exchange.”
Generex is engaged in the research, development, and commercialization of drug delivery systems and technologies.
Phototron Holdings (PHOT) boosts sales, stock leaps
Posted on: September 15th, 2011Written by:
Phototron Holdings (OTCBB: PHOT) shares climbed 138.5% to 31 cents on word of exciting sales figures. Volume for the stock topped 25,000, or at least double its all-day average.
A news release put out Sept. 7 revealed that the company had increased sales by more than 78% during August, entering the second month of its new direct selling business model. August’s strong performance represented $107,000 of unaudited sales compared to approximately $60,000 of unaudited sales in July.
Phototron’s new direct selling business model will help expand Phototron’s future sales capabilities to harness the untapped demand for its innovative turn-key hydroponic gardening system.
The same release quoted CEO Doug Braun thus: “We are extremely pleased with Phototron’s results in our second full month after implementing our new business model and strategic growth initiatives.
“Significant increases in both sales and Phototron’s new affiliates demonstrate that our product and business opportunity are attractive to our target audience. In transition periods, it typically takes time to gather momentum. Now that Phototron is starting to see positive results we are confident that we will continue to see accelerated growth as we begin to focus our energies on leveraging our exciting products and new business model to consumers across the US and worldwide.”
The new direct sales model, initiated in June, represents Phototron’s new direct sales initiatives, which are expected to serve both the $30-billion home gardening market and the $1.7-billion medical marijuana community.
Phototron Holdings, Inc., based in Woodland Hills, Calif., designs and manufactures cutting-edge indoor mini-greenhouses capable of growing herbs, vegetables, flowers, fruits and terrestrial plants stronger and faster than traditional farming methods.
Coldwater Creek Inc. (CWTR) shares vault on CEO stock buy
Posted on: September 14th, 2011Written by:
Coldwater Creek Inc. (Nasdaq: CWTR) shares spiked 14.8% to $1.63 Wednesday approaching noon ET, on news Tuesday of a stock purchase by its CEO. Volume for the stock topped two million shares, compared to an all-day average of 887,000.
An article posted Sept. 13 on the site Seeking Alpha mentioned that in recent days Dennis Ponce purchased over 600,000 shares at an average price of around 90 cents. The story also said pointed out that Coldwater Creek has seen quarterly net sales decrease to $181.4 million compared to $253 million in the same quarter in 2010.
Gross profit margins tightened for the quarter as well. Gross profit came in at $45.3 million for the quarter or 25% of net sales, compared with $84.7 million, or 33.4% of net sales in the same quarter in 2010.
The piece in Seeking Alpha added the company recently announced a three-part plan to turn it around, the key elements of which consist of a comprehensive brand marketing campaign, retail store optimization and a merchandising revitalization plan.
Coldwater Creek is a leading specialty retailer of women’s apparel, gifts, jewelry, and accessories founded in 1984 and headquartered in Sandpoint, Idaho.
