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Sunday, May 23 2010 jtarte@foamex.com Companies featured in the current edition of the newsletter: AEN, CVM, ENZ, IMUC, MCLN, OMCM, PSID, SDGR Despite a late rally on Friday, all of the markets fell sharply last week, moving into negative territory for the year. The Dow closed at 10,193, down 427 points, or 4%, from last week. It is down 3.7% for the year. The NASDAQ was also hit hard, losing 118 points, or 5%, to close at 2,229. It has lost 3.4% since January. The S&P 500 ended at 1,079, down 57 points, or 5.1% on the week, and 4.8% on the year. The Russell 2000 ended the week at 649, losing 6.4%, or 45 points. The Russell is up 1.5% on the year.
Continued concerns about the financial welfare of Europe caused investors to revalue risk. The Volatility Index, reflecting prices paid for protective stock-index options, surged above 45 Thursday. Other than during the Lehman collapse and the 1987 crash, it has reached those levels on only a handful of occasions. In each prior instance, stocks already were down about 20% from a recent high. Last week, however, stocks had only exhibited a 10% decline, suggesting that there could be more downside ahead. With expectations that the EU finance ministers will provide more aid to struggling countries such as Greece, this week could again be volatile.
Closer to home, the tail end of earnings season featured mixed reports from market leaders. Wal-Mart posted a strong first-quarter, generating net income of $3.3 billion, or $0.88 per share, up 10% from $3.0 billion, or $0.77 per share a year ago. Sales rose 6% to $99.1 billion, although sales at stores open at least a year — a key gauge of a retailer`s performance known as same-store sales — fell 1.4% in the quarter compared to an increase of 3.6% in the same period a year ago. Rival Target,Americas second-largest discount retailer, reported an increase in net income of 29% to $671 million, or $0.90 a share, from $522 million, or $0.69, a year earlier.. The increase was fueled largely by a credit-card profits that more than doubled to $111 million from $39 million a year ago. Dell reported stronger-than-expected Q1 results, with net income up 52% to $441 million, or $0.22 a share. Revenue increased 21% to $14.9 billion from the year-ago period. However, the company issued a disappointing outlook. HPhad a strong second quarter, with revenue for the quarter up 13% from a year earlier to $30.8 billion, beating expectations. Net earnings were $2.2 billion, or $0.91 per share, up 28% Q2 2009.
On the economic front, the consumer price index rose 2.8% year-over-year in April, hitting an 18-month high. The producer price index also grew last month, adding 6.8%, 0.9% higher than in March.Housing starts were up 5.8% to 672,000, compared with 635,000 in March and expectations of 650,000. However, new building permits were down 11%. Initial jobless claims rose for the first time in over a month, climbing to 471,000 446,000 the previous week (which was adjusted from 444,000). Continuing claims fell 40,000 to 4,625,000 from 4,665,000 the week prior (revised up from 4,627,000). The index of leading economic indicators fell for the first time since March 2009, dropping 0.1% in April, compared to an expected gain of 0.2%. The Philly Fed`s index on manufacturing rose to 21.4 in May.
No companies of note will release earnings this week. The economic activity for the week kicks off Tuesday with Mays Consumer Confidence Index coming in at 10:00am. On Wednesday, Durable Goods Orders for April will be announced at 8:30am, followed by New Home Sales at 10:00am and weekly crude inventories at 10:30am. The GDP second estimate and Initial and Continuing Claims will be announced at 8:30am on Thursday. On Friday, Personal Income and Spending are announced at 8:30am, followed by the Chicago PMI for May at 9:45am and the UM Consumer Sentiment report at 9:55am.
The week`s conference schedule starts Monday with the 2010 Bank of America Merrill Lynch Services Conference in New York, followed by the Macquarie Global Infrastructure Conference in New York on Tuesday. Also on Tuesday are the UBS Global Oil and Gas Conference in Austin, TX and the 11th Annual B. Riley & Co. Investor Conference in Santa Monica, CA. On Wednesday, the Citi Global Healthcare Conference will be held in New York, as well as the 1st Annual Janney Montgomery Scott Consumer Conference in Boston. Thursday sees the start of the Barclays Capital 2010 Global Communications Media & Technology Conference in New York. Novellus Systems (NASDAQ: NVLS) will hold a Q2 mid-quarter update earnings conference call on Thursday. On Friday, Lowe`s (NYSE: LOW) will hold their Annual Meeting of Shareholders via webcast.
Enzo Biochem, Inc., (NYSE: ENZ)reported thatthe Board of Patent Appeals and Interferences of the United States Patent and Trademark Office issued a Decision denying a Request for Rehearing filed bySiemens Healthcare Diagnostics (in a patent interference proceeding relating to Enzo Life Sciences application for nucleic acid signal amplification and Siemens U.S. Patent No. 5,124,246, covering branched DNA (bDNA) diagnostic systems. Siemens filed the rehearing request in response to a February 22, 2010 Decision by the Patent Office awarding priority of the invention to Enzo. The result of this latest Decision is that the judgment of the Patent Office is now final. Subject toany appeals that Siemens might file in federal court, Enzo will receive a full 17-year patent for all the inventions covered by the claim, commencing on the date of the patents issuance. The company also announced that Enzo Clinical Labs, Inc., its reference lab division serving physicians and medical facilities in the New York metropolitan area, has entered into a trial co-marketing services agreement with privately-owned MMF Systems, Inc. (MMF), of New York City, involving MMFS state of the art medical records system. Shares of ENZ closed at $5.26, down $0.58, or 9.9%.
PositiveID Corporation (NASDAQ:PSID)announced that it has completed development of the initial prototype of itsiGlucosesystem, creating a small cradle that connects to any data-capable glucose meter to automatically communicate a diabetics blood sugar readings to theiGlucoseonline database. As a result of the early completion of the prototype, the Company is highly focused on commercialization efforts and is accelerating its launch plans.iGlucoseprovides next generation, real-time data to improve diabetes management and help ensure patient compliance, data accuracy and insurance reimbursement. TheiGlucosesystem is a stand-alone, self-contained unit that automatically queries a diabetic users data-capable glucometer for blood glucose data and sends that data via encrypted SMS text messaging to an online database. Shares of PSID closed at $0.99, down $0..18, or 15.4%.
CEL-SCI Corporation(AMEX: CVM)reports financial results for the quarter ended March 31, 2010. CEL-SCI reported that net loss for the three months ended March 31, 2010 was ($0.7 million) versus a loss of ($2.1 million) during the same three months in fiscal year 2009. The loss during the quarter ended March 31, 2010 was reduced by a gain on derivative instruments of $4.5 million. What is likely of most interest to investors, however, is the companys strong balance sheet. The company said it had more than $34 million in cash and cash equivalents at quarter-end, leaving it in strong position to commence its pivotal Phase III trial in head and neck cancer. Shares of CVM closed at $0.56, down $0.09, or 13.9%.
Adeona Pharmaceuticals, Inc. (AMEX: AEN)announced its first quarter 2010 financial results and recent achievements. For the three months ended March 31, 2010, Adeona`s research and development expenses were $419,213 as compared to $495,994 for the three months ended March 31, 2009. The decrease of approximately 15% is due to numerous factors including decreases in payroll expenses, stock based compensation charges and drug related expenses, offset slightly by an increase in consulting expenses. Shares of AEN closed at $1.22, down $0.39, or 24.2%.
ImmunoCellular Therapeutics (OTCBB:IMUC), a clinical-stage biotechnology company that is developing immune based therapies for the treatment of brain and other cancers, said that it will be presenting results from its clinical trial of ICT-107 at the 46th Annual Meeting of the American Society of Clinical Oncology (ASCO) being held June 4-8 in Chicago. Surasak Phuphanich, M.D., Director of the neuro-oncology program at the Cedars-Sinai Medical Center and the studys lead investigator, will present the poster titled, Immune response correlation with progression-free survival in glioblastoma following dendritic cell immunotherapy (ICT-107), on Sunday, June 6th. Note that competitor Celldex, which is also developing a vaccine to treat glioblastoma, announced survival data which was significantly weaker than IMUCs. Celldexs market cap is nearly 10 times the size of Immunocellulars. In other news, IMUC announced that the company and Torrey Pines Institute for Molecular Studies in San Diego, CA have identified several peptides which can generate CD-133 specific T-cells. CD-133 is found in high abundance on cancer stem cells (CSCs) which makes it promising for immunological targeting. The parties have extended their research agreement to pursue additional studies to support an Investigational New Drug Application (IND) filing, as well as research on other cancer stem cell targets such as Numb and Notch proteins which are expressed on CSCs. Additional pre-clinical studies are underway to support the IND Filing. Shares of IMUC closed at $1.22, up $0.05, or 4.3%.
OmniComm Systems, Inc. (OTCBB: OMCM), a global provider of eClinical solutions, announced that long-time customer, Asthmatx, Inc., Sunnyvale, Calif., received U.S. Food and Drug Administration (FDA) approval of its Alair Bronchial Thermoplasty System for the treatment of severe asthma. FDA approval of the Alair System was based on the results of the Asthma Intervention Research 2 (AIR2) Trial, a multicenter, double-blind, sham-controlled study designed to evaluate the safety and effectiveness of bronchial thermoplasty in adult patients with severe asthma. The Alair System is the first device-based asthma treatment approved by the FDA. Shares of OMCM closed unchanged for the week at $0.19. They are down 5% for the year.
MedClean Technologies, Inc. (OTCBB: MCLN)announced financial results for the first quarter of 2010, the period endedMarch 31, 2010. The company reported revenue of approximately$268,867, a sequential increase of approximately 22.8% compared to the fourth quarter of 2009 and a decrease of 35.6% compared to the$417,428reported for the first quarter last year. The year-over-year decrease was due to the absence of system deliveries during the quarter. Gross profit for the first quarter of 2010 was$103,414, or 38.5% profit margin, compared to gross profit of$144,356, or 34.6% profit margin, in the prior-year period. Total operating expenses were$1.7 millioncompared to operating expenses of$1.6 millionin the first quarter last year. Net loss for the first quarter narrowed by 15.9% to$(1.5) million, or$(0.00)per share, compared to a net loss of$(1.9) million, or$(0.00)per share for the same period in 2009. Shares of MCLN closed at $0.01, down $0.01, or 50%.
Standard Gold, Inc. (OTCBB: SDGR)issued a letter to shareholders in which it discussed the current status of the company and notable event over the past the few months, including the changing of the company name and its stock ticker symbol to reflect its focus on identifying, acquiring, exploring and developing gold mining properties, with a focus to date on the Americas.The company also discussed prospective gold project acquisitions and opportunities as well as gold-related metals opportunities. Shares of SDGR closed at $1.72, up $0.12, or 7.5%. They are up 14.7% for the year.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast`s editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Enzo Biochem, seventeen thousand dollars per month; PositiveID Corporation, seven thousand five hundred dollars per month; CEL SCI Corporation,five thousanddollars andthree hundred fiftythousand shares of stock for a one-year program;Adeona Pharmaceuticals, twelve thousand five hundred dollars per month payable half in cash and half in restricted stock for a six-month agreement; OmniComm, thirteen thousand six hundred and fifty dollars per month, payable in cash and common stock for a one year agreement; ImmunoCellular Therapeutics, twelve thousand five hundred dollars per month; Drinks America, seven thousand five hundred dollars per month and six hundred thousand shares of stock; MedClean Technologies, seven thousand five hundred dollars per month and six million shares for a one-year agreement; Standard Gold, ten thousand dollars per month and three hundred thousand shares of stock for a one year agreement.
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Sunday, May 09 2010 Gmartin112@aol.com Companies featured in the current edition of the newsletter: AEN, CVM, DKAM, GERS, PHC, IMUC, NWCI, SRCO The adage Sell in May and Go Away seemed prophetic last week, as concerns about sovereign risk in Europe caused all of the indices to plunge. After a relentless beating, marked by a drop of over 1,000 points at one point, the Dow surrendered 628 points for the week to close down 5.7% at 10,380. It is now down 1.9% for the year. The NASDAQ also took a trouncing, losing 196 points, or 8%, to close at 2,266, down 1.9% for the year. The S&P 500 sustained losses of 76 points, or 6.4%, to end the week at 1,111.. The S&P is now down 2% on the year. Rounding out the pack, the Russell 2000 suffered a similar fate, giving up 8.9%, or 64 points, to end the week at 653. The Russell is the only one of the major indices to still be up on the year. It is up 2% since January.
While earnings results and economic data were generally supportive, concerns that Greece could default on its credit obligations, along with fears of a contagion throughout the rest of Europe caused markets to plummet. The Volatility Index (VIX), a widely followed measure of investor fear, crossed 40 for the first time since Lehman Brothers failed in September, 2008..However,Lehmans demise in 2008 represented an acceleration of an existing market downtrend into a deepening recession, with policy makers attempting to ward off systemic failure. Last weeks decline came after the markets had rallied 80%, potentially suggesting corrective action rather than the double-dip recession some fear.
The economic news last week continued to suggest a modest recovery, asconsumer spending increased 0.6% in March according to the U.S. Bureau of Economic Analysis. The amount spent during the month was greater than the 0.3% increase in personal income. In all, personal income went up $36 billion, while disposable income increased $32.3 billion, 0.3% higher than February`s total. The ISM non-manufacturing index stayed at 55.4% in April, but still maintains a four-year high.The unemployment rate rose 0.2% from March to 9.9% last month. On the plus side, the economy added 290,000 new jobs in April, surpassing forecasters expected 162,000. Initial jobless claims fell by 7,000 to 444,000, down from 451,000 the week before, while continuing claims fell 59,000 to 4.59 million.
Few market-moving companies will report earnings this week. On Monday, Priceline.com (NASDAQ: PCLN) will announce earnings results before the bell.. Electronic Arts (NASDAQ: ERTS) and Disney (NYSE: DIS) make announcements after the close on Tuesday, followed by Macys (NYSE: M) on Wednesday morning and Cisco Systems (NASDAQ: CSCO) after the market closes.
The economic activity for the week begins Wednesday at 8:30am with the release of the Trade Balance for March, followed by weekly crude inventories at 10:30am. Weekly Jobless Claims will be announced Thursday at 8:30am. On Friday, Retail Sales for April will be reported at 9:15am, followed by Mays Michigan Consumer Sentiment report at 9:55am and Business Inventories for March at 11:00am.
The week`s conference schedule kicks off Monday with the 6th Annual Jefferies Global Internet, Media and Telecom Conference in New York, and the 9th Annual JMP Research Conference in San Francisco. On Tuesday, the Deutsche Bank Securities Alternative Energy, Utilities & Power Conference begins in Washington, DC, along with the Bank of America Merrill Lynch Healthcare Conference in New York, the MDB Capital Group Bright Lights Conference in San Francisco, and the Avondale Network Convergence Conference in New York. The UBS Global Financial Services Conference in New York and the D.A. Davidson Conference in Seattle, WA both start on Wednesday. On Thursday, the Piper Jaffray Annual China Growth Conference begins in New York, as does the Goldman Sachs Consumer Products Symposium.
Earnings Preview:Healthcare services company PHC, Inc. (AMEX: PHC)is scheduled to report 2010 fiscal third quarter results for the period ended March 31, 2010, on Wednesday after the market closes. Despite Q2 historically being the companys seasonal slowest quarter, PHC continued to improve operating results, including Q2 revenue of $12.9 million compared to $11.0 million for the year-earlier period. Net income applicable to common shareholders was $0.5 million, or $0.03 per diluted share, compared to a net loss of $0.8 million or $0.04 per share in the fiscal 2009 second quarter. The companys growth has been propelled by higher net patient care revenue as result of new and renewed contracts as well as the expansion of facilities. Recently, the company announced last week that its Seven Hills Behavioral Institute in Henderson, Nevada has been operating at near capacity and its recently opened ten-bed adolescent unit has experienced strong demand, both of which are encouraging signs as the company prepares to report results. Note that shares recently surged on speculation the company could be a takeover target after larger peer Psychiatric Solutions said it received a takeover bid. Shares closed last week unchanged at $1.27.
Adeona Pharmaceuticals, Inc., (AMEX: AEN)said last week that it entered into a corporate partnership with Sweden-based Meda AB, to develop flupirtine for the treatment of fibromyalgia syndrome. The agreement includes the payment to Adeona of up to $17.5 million in upfront and milestone payments, plus royalties. Under the terms of the agreement, Adeona has granted Meda an exclusive sublicense to all of Adeona`s patents covering the use of flupirtine for fibromyalgia. These patents have issued in the US and are pending in Canada andJapan. Meda will assume all future development costs for the commercialization of flupirtine for fibromyalgia. Adeona received an up-front payment of $2.5 million and is entitled to milestone payments of $5 million upon filing of a New Drug Application with theFood and Drug Administrationfor flupirtine for fibromyalgia and $10 million upon marketing approval. AEN is also entitled to receive royalties of 7% of net sales of flupirtine approved for the treatment of fibromyalgia covered by issued patent claims in the Territory. Adeona will share such royalties equally with Adeona`s university licensor. Shares of AEN closed unchanged for the week at $1.62.
CEL-SCI Corporation(AMEX: CVM)provided an update last week on its planned Phase III clinical trial of its cancer immunotherapy drug candidate Multikine. The company, together with its development partners Teva Pharmaceutical Industries and Orient Europharma, have selected 40 of the planned 50 global medical centers where the Multikine Phase III study will be conducted. In addition, all major vendors for the study have now been chosen. CEL-SCI expects to enroll the first patient in the study during the third quarter of 2010. The trial is expected to be the largest head and neck cancer clinical study ever conducted, with more than 800 patients expected to be enrolled worldwide. Shares of CVM closed at $0.61, down $0.10, or 14.1%..
ImmunoCellular Therapeutics (OTCBB:IMUC), a biotechnology company that is developing immune based therapies for the treatment of various forms of cancer, announced last week that it had filed an orphan drug application with theU.S. Food and Drug Administration(FDA) for its cancer treatment candidate ICT-107, a dendritic-cell based cancer vaccine product which targets glioblastoma multiforme (GBM), the most prevalent, aggressive and malignant form of primary brain tumors. In addition, IMUC presented clinical data from ICT-107 at the 78thAmerican Association of Neurological Surgeons (AANS) Annual Meeting at the Pennsylvania Convention Center in Philadelphia. At the meeting, John S. Yu, M.D., the companys Chief Scientific Officer and Chairman, gave a presentation titled Targeting Cancer Stem Cells. During the presentation, Dr. Yu also presented pre-clinical data from ICT-121, ImmunoCellular Therapeutics off the shelf therapeutic vaccine product candidate targeting cancer stem cells (CSCs) for multiple cancer indications. Shares of IMUC closed at $1.39, down $0.70, or 33.5%.
NewCardio, Inc., (OTCBB: NWCI), a cardiac diagnostic technology provider, will unveil its patentedCardioBip technology for remote wireless 12-lead detection and monitoring of atrial fibrillation, ischemia and other cardiovascular events at the Heart Rhythm Society (HRS) 31st Annual Scientific Sessions, which will be heldMay 12-15, 2010, inDenver, Colorado. Shares of NWCI closed at $1.05, down $0.20.
Drinks Americas Holdings, Ltd. (OTCBB: DKAM),a leading owner, developer and marketer of premium beverages associated with renowned icons, announced that the company`s Olifant Vodka will be carried and featured by 21stAmendment Wine and Spirits in Indiana.21stAmendment currently has 18 exciting retail locations inIndianapolisand is one of the largest chain outlets in the area. The company also announced that this coming summer its Olifant Vodka will be sold at Tower Beer, Wine and Spirits,Atlanta`s largest retail liquor outlet. Shares of DKAM remained unchanged for the week at $0.01. They are down 50% for the year.
GreenShift Corporation (OTCBB:GERS)announced that its wholly-owned subsidiary, GS CleanTech Corporation (GreenShift), has commenced legal action against eleven additional ethanol producers for infringing on GreenShifts U.S. patent covering corn oil extraction technology. The new complaints allege that the named producers are infringing GreenShifts U.S.. Patent No. 7,601,858, titled “Method of Processing Ethanol Byproducts and Related Subsystems (the 858 Patent), which covers processes for recovering corn oil from whole stillage, a precursor to the distillers grain co-product of corn ethanol production. On May 6, GreenShift submitted a “Motion to Transfer Pursuant to 28 U.S.C. =A7 1407 for Consolidated Pretrial Proceedings” to the United States Judicial Panel on Multidistrict Litigation (the “Panel”) located in Washington, D.C. In this motion, GreenShift has moved the Panel to transfer and consolidate all pending suits involving infringement of GreenShifts patents to one federal court for orderly and efficient review of all pre-trial matters. Shares of GERS remained unchanged for the week, and the year, at $0.0002.
Sparta Commercial Services, Inc. (OTCBB: SRCO)announced that the company anticipates the city of Raleigh, NC will become the latest addition to the company`s ever growing Municipal Lease Program with the acquisition of a new fleet of police motorcycles. Sparta`s Municipal Lease Program is increasingly becoming a preferred source of financing for cities, towns, states, and counties that have a strong need to acquire a variety of essential equipment. This is because the Sparta program allows governmental agencies to lease, rather than purchase that equipment, and thereby extend the payments over a number of years. The program provides a more cost-effective opportunity for municipalities to get the necessary equipment they need while economic circumstances demand greater frugality by governments at all levels. Shares of SRCO remained unchanged for the week at $0.01.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast`s editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Drinks America, seven thousand five hundred dollars per month and six hundred thousand shares of stock; PHC, seven thousand five hundred dollars per month; GreenShift Corporation, ten thousand dollars per month plus ten thousand dollars per month of stock; PositiveID Corporation, seven thousand five hundred dollars per month; NewCardio, seven thousand five hundred dollars per month and two hundred thousand shares of stock for a six-month agreement; ImmunoCellular Therapeutics, twelve thousand five hundred dollars per month; CEL SCI Corporation,five thousanddollars andthree hundred fiftythousand shares of stock for a one-year program; Sparta Commercial, twelve thousand five hundred dollars per month through a combination of cash and stock;Adeona Pharmaceuticals, twelve thousand five hundred dollars per month payable half in cash and half in restricted stock for a six-month agreement.
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AANS · CSCO · DKAM · ERTS · GERS · IMUC · NWCI · PCLN · SRCO
Sunday, April 11 2010 coastkeep1@aol.com Companies featured in the current edition of the newsletter: ACTC, IMUC, NWCI, PSID, SDGR The markets came out on top after a week of ups and downs. The Dow increased 70 points to 10,997, up 0.64% from last week, and 3.9% since the beginning of the year. The Nasdaq finished out the week strongly at 2,454, adding 52 points, or 2.1%. The Nasdaq is up 6.3% for the year. The S&P 500 added 16 points, finishing 1.4% higher at 1,194, and has added 5.4% year-to-date. The Russell 2000 led the way again last week, adding 2.8%, or 19 points, to close at 703. It is now up 9.8% on the year.
TheISM index rose over 2% from February to 55.4%, beating an expected rise to 54%. Pending home sales climbed to 8.2%, its second-largest gain in on record and most significant gain since October 2001. Consumer credit dropped to 5.5% in February,offsetting Januarys increase. The decline was fueled by a reduction in revolving credit debt, including credit cards, which fell by 13%, or $9.5bn. Initial jobless claims unexpectedly increased 18,000 to 460,000 claims, while continued claims dropped by 131,000. Wholesale inventories increased 0.6%, topping market expectations for a 0.4% rise.
What should investors look for this week Earnings Season begins Monday, when Alcoa (NYSE: AA) announces earnings results after the bell, followed by Intel (NASDAQ: INTC) and CSX (NYSE: CSX) Tuesday afternoon. Wednesday, JPMorgan Chase (NYSE: JPM) releases its numbers before the bell, with Yum! Brands (NYSE: YUM) posting after. Charles Schwab (NASDAQ: SCHW), PPG Industries (NYSE: PPG), Advanced Micro (NYSE: AMD) and Google (NASDAQ: GOOG) all make announcements before the bell Thursday, and Bank of America (NYSE: BAC), Gannett (NYSE: GCI), General Electric (NYSE: GE) and Mattel (NYSE: MAT) releases earnings Friday morning.
The weeks economic activity starts Tuesday with the Trade Balance announced at 8:30am. Tuesday, the CPI and Retail Sales for March are announced at 8:30am, followed by weekly crude inventories at 10:00am and the Federal Beige Book numbers at 2:00pm. On Wednesday, Initial and Continuing Unemployment Claims come out at 8:30am, with the Industrial Production coming in at 9:15am and the Philly Fed for April at 10:00am. Friday sees the release of Housing Starts for March at 8:30am and the University of Michigan Sentiment report at 9:55am.
The only conference of note this week will be the Goldman Sachs Inaugural Technology, Media, & Telecom Leveraged Finance Conference, which begins Wednesday, April, 14th in New York.
Volume Alert:Shares of ImmunoCellular Therapeutics(OTCBB: IMUC) surged nearly 8% Friday on more than 12 times average volume, perhaps as a result of investors recognizing the opportunities for ICT-107, the companys lead product candidate targeting gliobastoma. The company recently completed a Phase I trial, and intends to commence a multicenter Phase II study later this year. Along with the impressive volume breakout, shares of IMUC also established a new 52-week high, further helping to confirm the move.. Shares ended the week at $1.38, up 28 cents.
PositiveID Corporation (NASDAQ: PSID)announced that it sold to a customer the companys first order of 7,500 eight-millimeter RFID microchips, which were manufactured by Raytheon Microelectronics Espa=F1a (operating as ELCAN Optical Technologies”). The company expects to use its smaller microchip in its medical diagnostic applications, medical device identification and animal health applications. Shares of PSID closed at $1.29, down $0.08, or 5.8%..
Advanced Cell Technologys (OTCBB: ACTC)Chief Scientific Officer, Robert Lanza, M.D., delivered the opening Plenary, Keynote Address at the inaugural `Translational Regenerative Medicine Forum, which took place April 6-8, 2010, in Winston-Salem, North Carolina. Produced by the Regenerative Medicine Foundation, the meeting was designed to be the premiere international event for leaders in regenerative medicine translation, and the first of its kind to convene leaders from academic, research, clinical, regulatory, government, reimbursement and biotechnology industry interests. Dr. Lanza delivered a presentation titled: “The Science: What`s Next for the Clinic.” Shares of ACTC closed at $0.10, unchanged from last week. They are unchanged on year.
NewCardio, Inc. (OTCBB: NWCI)announced that it has signed a Master Services Agreement (MSA) with Clinilabs, aNew York-based contract research organization that provides early phase and specialty clinical drug development services to the pharmaceutical industry. Clinilabs has licensed NewCardio`s QTinno software solution in order to perform fully-automated cardiac safety analyses in cardiac intensive and thorough QT studies. In addition, Clinilabs has signed a services work order, including standard operating procedures (SOP) and validation kits, as well as professional services, so NewCardio can assist Clinilabs in developing an ECG core laboratory. Shares of NWCI closed at $1.35, up $0.21, or 18.4%.
SPECIAL SITUATIONS:
Standard Gold, Inc. (OTCBB: SDGR) $1.40 With gold prices at or near record levels, it should come as no surprise to our readers that we would look for promising gold ideas. The precious metal became even more valuable last week as gold soared to $1,165 per ounce, up more than 400% over the last 10 years. Many investors may have missed this move, as only a small percentage of assets are held in gold bullion or similar investments. However, one way for investors to gain exposure to the metal is through the purchase of shares of publicly traded companies such as Standard Gold, an emerging junior gold company with a prospect in Colorado and an ambitious acquisition strategy. Investors seem to be paying attention, as the stock was up an eye-catching 77% last week.
Majority owned by Wits Basin Minerals, another publicly traded junior mining company, Standard Gold was formed to focus on owning and operating gold assets. Its first prospect, the Bates Hunter Mine, is located about 35 miles west of Denver, Colorado within the city limits of Central City. The Central City mining district lies on the east slope of the Front Range where elevations range from 8,000 feet in the east to 9,750 feet in the west. The Bates-Hunter mine property is generally zoned for mining or industrial use.
The history of the area suggests that the opportunity is promising. The Bates vein, in the area of the Bates-Hunter Gold Mine, was the second lode discovered in Colorado and helped spark the great Colorado gold rush of the mid-1800s. Nine principal veins underlie and are controlled by the Bates-Hunter property. These veins have historically produced approximately 250,000 ounces of gold to a depth of about 500 feet. The Bates-Hunter Gold Mine was closed in 1936 when the market price of gold remained fixed while production costs rose, causing the entire Colorado mining district to become unprofitable. At that time, the mine shaft was approximately 770 feet deep.
The Bates Hunters 2008 independent NI 43-101 technical report stated, Judging from past production, historic mine maps and assays, modern assay results, and recent exploration., the Bates Vein alone could host as much as 500,000 additional ounces of gold. Extrapolating historical production generally agrees with this estimate. Historical production records indicate that the Bates vein produced between 138,000 and 150,000 ounces of gold along its approximate 3,400-foot strike length to a depth of 500 feet at average grades between 0.16 and 1.87 ounces per ton gold. If this 3,400-foot strike length were mineralized at similar grades below the deepest Bates shaft level of 727 feet, and if mineralization extended to depths of 2,200 feet as did the deepest mine in the district, the Bates vein could now host some 450,000 ounces of gold. The company currently controls approximately 2,000 feet of the Bates vein strike length, or about 60% of the historically productive length. The strike lengths of the Vasa, Leavitt, Gettysburg, and the six other veins covered by the project claims could multiply this potential to depths below 2,000 feet.The company has conducted both surface and underground exploration during the last two years and has developed a fairly extensive geologic picture for the area closest to the old mine.
Recently, the company appointed Steve Flechner as President. Flechner was formerly vice president and general counsel of Gold Fields Mining Corporation, which was the U.S. subsidiary of the former Consolidated Gold Fields of London. In that position, he established and directed Gold Fields land, legal, and environmental functions in order to acquire, permit, finance, and develop low-cost, heap-leach gold mining operations at the Ortiz Mine in New Mexico, the Mesquite Mine in California, and the Chimney Creek Mine in Nevada. These three mines collectively produced over 400,000 ounces of gold per year with high profitability. Mr. Flechner negotiated $150 million of gold loans and equipment leases for these projects with Chase, Citibank, Mellon and Westpac banks. He also served on management committees for budgeting, environmental compliance, and community relations as Gold Fields grew from 20 to 1200 people. The Mesquite and Chimney Creek mines were later acquired by Newmont Mining.
Despite the large gains last week in Standard Golds stock price, the Company still has a market capitalization of approximately $36 million. With a proven management team, aggressive acquisition strategy and promising gold prospect in Colorado, Standard Gold could be well positioned to ride the surge in gold prices higher.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast`s editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Advanced Cell Technology, seven thousand five hundred dollars per month, plus warrants to purchase up to fifteen million shares of stock; ImmunoCellular Therapeutics, twelve thousand five hundred dollars per month, PositiveID Corporation, seven thousand five hundred dollars per month; NewCardio, seven thousand five hundred dollars per month and two hundred thousand shares of stock for a six-month agreement, Standard Gold, ten thousand dollars per month and two hundred fifty thousand shares of stock for a one-year agreement.
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Monday, April 05 2010 alattanzio@weirfoulds.com Companies featured in the current edition of the newsletter: AEN, ENZ, IMUC, MFGD, PHC, PSID, TMTF The markets rolled into another month on a positive note, as all indices finished ahead to start the month of April. The Dow finished up the week at 10,927, up 77 points, or 0.71%, from the week prior. It is up 3.4% for the year. The NASDAQ also increased, adding 8 points to close 0.31% higher at 2,403, up 4.1% on the year. The S&P 500 had the strongest showing of the bunch, closing 1%, or 12 points, higher at 1,178. The S&P has gained 4% since the start of the year. The Russell 2000 added 5 points to its total, ending the week 0.73% ahead at 684, and now up 6.9% year-to-date.
In economic news, personal spending increased for a fifth-straight month, climbing 0.3% to $34.7 billion despite personal income remaining. Consumer confidence rose 13% to 52.5, beating economists` calls for an 8% increase and indicating a mostly positive consumer outlook on the current economy and the coming six months. The ISM Index rose to 59.6%, its highest point in six years. Unemployment held steady at 9.7% as the nation added an additional 162,000 jobs in March. The gain is the most significant the US job market has seen in three years.
No companies of note will post earnings next week. Economic activity for the week begins Monday morning at 10:00am with the announcement of the ISM Services Index and Pending Home Sales for February. On Tuesday the Federal Open Markets Committee will report their meeting minutes at 2:00pm. Weekly crude inventories will be announced at 10:30am on Wednesday, with the Consumer Credit report announced at 3:00pm. Thursday brings the announcement of Initial and Continuing Unemployment Claims at 8:30am, and on Friday Wholesale Inventories for February are reported at 10:00pm.
Volume Alert:Shares of Adeona Pharmaceuticals, Inc. (AMEX:AEN)traded heavily last week, highlighted by over 10 million shares traded on Wednesday, as the specialty pharmaceutical company developing new medicines for serious central nervous system diseases, ahead of a conference call on Thursday in which James S. Kuo, the companys Chairman and Chief Executive Officer held a conference call in which he discussed Adeona`s fourth quarter and recent highlights. The call discussed thecompletion of 50% enrollment in the current ongoing Trimesta multiple sclerosis clinical trial and the initiation of the CopperProof-2 clinical trial of Zinthionein ZC, the first controlled clinical trial of zinc therapy in Alzheimer`s disease or mild cognitive impairment. Shares of AEN closed at $1.51, down $0.05, or 3.3%.
Enzo Biochem Inc. (NYSE:ENZ)announced that a decision released March 26th by the Court of Appeals for the Federal Circuit reversing a district courts summary judgment will enable the company to pursue a claim for substantial damages against Applera Corporation, now Life Technologies Corporation. The complaint against Applera Corporation and its subsidiary Tropix Inc. charged patent infringement arising out of the misappropriation of Enzos proprietary and pioneering patented technologies related to DNA sequencing systems, and other products, as well as providing others with unauthorized and prohibited access to the patented products and technologies. Shares of ENZ closed at $6.08, down $0.16, or 2.6%.
PositiveID Corporation (NASDAQ:PSID)announced that its identity security business, which offers credit reporting, credit scores and credit monitoring services under the NationalCreditReport.com brand to help protect consumers from identity theft, has reached a significant milestone, reporting record growth to 20,000 active subscribers. Shares of PSID closed at $1..37, down $0.07, or 4.9%. They are up 23.4% for the year.
PHC, Inc.(AMEX: PHC), a leading provider of inpatient and outpatient behavioral health services,announced that it had appointed Douglas J. Smith to its Board of Directors. Mr. Smith previously held the position of Assistant Vice President of Labor Relations for the Union Pacific Railroad Company prior to his retirement. He holds a bachelors degree from the University of Wyoming and an M.B.A. from the University of Nebraska at Omaha. Shares of PHC closed at $1.25, down $0.08, or 6%.
Volume Alert:Shares of ImmunoCellular Therapeutics (OTCBB:IMUC)surged more than 7% on Thursday on more than five times average volume, perhaps as a result of investor reactingto the release of the companys fourth quarter and year-end results. Among IMUC`s 2009 highlights include a research and licensing option agreement with Roche Group and promising discoveries in clinical trials on their ICT-107 and ICT-121 candidates. Shares of IMUC closed at $1.10, up $0.01, or 10%.
Money4Gold Holdings, Inc. (OTCBB: MFGD)will present at the two-day Security Research Associates 6thAnnual Spring Growth Stock Conference in San Francisco. On Wednesday, the Future Leaders in the Biotech Industry Conference sponsored by BioCentury and Thompson Reuters begins in New York. UBS will host an energy mini-conference in Boston April 8th – 9th.
SPECIAL SITUATIONS:
Tremont Fair: (OTCBB: TMTF) $0.02 The bursting of the housing bubble (and the collapse of the mortgage industry beneath it) was at the center of the recent economic crash heard round the world, leaving thousands of families without homes and homes without occupants. But for all the damage its done, it now seems real estate could provide one of the best options for investment the market has to offer. In the aftermath of the economic crisis, the real estate market has turned itself into an excellent opportunity, with the potential for very high returns on investment.
Tremont Fair is a real estate investment and management company focused on distressed, value-added multifamily (MF) properties in the southern United States, specifically Texas, Arizona, and Florida, three areas where the multifamily market was particularly hard hit. At the core of their business, Tremont acquires both financially and physically distressed properties, rehabilitating and renovating those in physical distress, and stabilizing operations and tenant bases in foreclosure situations. The company then focuses on refinancing the properties and bringing them to market in favorable conditions.
Tremont generates revenues from several sources, including property management fees, construction management fees, asset acquisition and disposition fees, and partnership management fees.
The company also offers qualified investors the opportunity to invest directly in distressed MF properties and/or at the parent company level. Currently, Tremont is seeking up to $50 million to fund the acquisition and stabilization of identified properties, and $1.5 million for various corporate purposes, including funding of its growth plans and retirement of debt.
Tremont strategically focuses solely on high quality distressed multifamily properties, as this area, particularly for those suffering from deferred maintenance, is less competitive than other areas of the market. The company has in-house expertise in rehabilitating and renovating and self-manages its properties, allowing for lower overhead and maximum flexibility in operations. Tremont also employs conservative practices in budgeting and forecasting, preventing undercapitalization and over-leveraging. The companys executives a proven track record of successfully turning around distressed multifamily properties, even selling into the current market at a profit.
The company typically looks at projects that return in excess of 25% on an IRR basis.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast`s editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Adeona Pharmaceuticals, twelve thousand five hundred dollars per month payable half in cash and half in restricted stock for a six-month agreement; Enzo Biochem, seventeen thousand dollars per month, ONE Bio, fourteen thousand three hundred seventy five dollars per month; ImmunoCellular Therapeutics, twelve thousand five hundred dollars per month; Money4Gold, ten thousand dollars per month and four hundred thousand shares for a six-month agreement;PositiveID Corporation, seven thousand five hundred dollars per month; PHC, seven thousand five hundred dollars per month; Tremont Fair, Inc., seven thousand five hundred dollars per month in cash, plus two hundred thousand shares.
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Sunday, March 28 2010 armaninofoods@aol.com Companies featured in the current edition of the newsletter: AEN, DKAM, ENZ, IMUC, IWEB, MCLN, MFGD, PSID Another positive week for the markets, as all major indices made gains. The Dow added 108 points to finish the week at 10,850, 1% higher than last week. It is now up 2.5% on the year. The NASDAQ closed out the week at 2,395, up 21 points, or 0.87%, on the week and 3.8% for the year. The S&P 500 added 7 points to end the week at 1,167, 0.58% higher than last Friday, and up 3.0% since the start of the year. The Russell 2000 made a comeback from its losses last week, gaining 5 points to close out the week at 679. It is up 6% in 2010.
The battle to provide quote data for stocks traded on the Bulletin Board and Pink Sheets heated up last week, after the Financial Industry Regulatory Authority (FINRA) said its plan to create a new quotation system for over-the-counter stocks wont hurt competition, countering the claims of brokers and industry groups. FINRA claims it has the legal authority to create a network that collects and disseminates quotes for shares not traded on exchanges, according to a letter it sent to the Securities and Exchange Commission published March 19. The agency announced plans to create the system in November. Knight Capital Group Inc. and the U.S. Chamber of Commerce told the SEC the service is better provided by an existing company, 98-year-old Pink OTC Markets Inc., and that FINRA plan will raise costs for traders. Already, the battle between the parties has disrupted trading for many small companies, as market makers moved from offering quotes on the OTCBB to the Pink Sheets to avoid a $4 per month fee that FINRA had proposed to provide data on OTCBB securities. On Friday, 146 stocks were delisted from the OTCBB, because there was not a market maker willing to trade them on the Bulletin Board. Hopefully, the parties will resolve their issues and market makers will return to the Bulletin Board. In the interim, there could be more fully-reporting companies headed for the Pink Sheets.
Last week Best Buy proved a weak economy is no match for the retail electronics giant, as the company reported a 37% increase in profits to $779 million from the year earlier period. Oracle announced net income for Q3 of $1.2 billion, or $0.23 a share, on revenue of $6.4 billion, up 17% from a year ago. Adobe reported a 19% slide in profits to $0.40 a share for its first fiscal quarter of 2010, although still performing stronger than the $0.37 expected by the Street.
In economic news, initial jobless claims fell to its lowest level in six months, down 14,000 to 442,000. Continuing claims also fell, decreasing 54,000 to 4.65 million. The U.S. GDP increased at an annualized rate of 5..6% in the fourth quarter of 2009, its fastest rate of growth in six years. Economists, however, are projecting a significant slowdown in growth for the current quarter. Existing home sales figures were up 4% from a year ago, while on the flip side of that new home sales fell for a fourth-straight month in February to 2.2%, its lowest level on record. Durable goods orders rose for the third-straight month to 0.5%.
No companies of note will release earnings during the upcoming holiday-shortened week in which the markets are closed on Friday. The economic calendar begins Monday with Personal Income and Spending for February reported at 8:30am. On Tuesday, the Consumer Confidence report for March will be released at 10:00am. Weekly crude inventories are released Wednesday at 10:30am. Thursday sees the announcement of Initial and Continuing Unemployment Claims for the week ended March 20th at 8:30am, the ISM Index at 10:00am, and Auto Sales figures at 2:00pm. March Nonfarm Payrolls and Hourly Earnings will be announced at 8:30am on Friday.
A very light conference schedule begins Tuesday with the two-day Bank of America Inaugural New York Auto Summit. The Soleil Securities 1st Annual Diversified Utility & Energy Conference is Thursday in New York.
Volume alert:Shares ofEnzo Biochem Inc. (NYSE: ENZ) traded more than twice the its average volume Friday, after the company had won an appeals court ruling that revives a 2004 patent-infringement lawsuit against Applera Corp. and Tropix Inc. The U.S. Court of Appeals for the Federal Circuit overturned a ruling that two Enzo patents were invalid and sent the case back for further review. The court upheld findings against two other patents. Shares of ENZ closed at $6.24, up $0.26, or 4.4%, from last week.
PositiveID Corporation (NASDAQ:PSID)said last week that it filed with the U.S. Patent and Trademark Office a non-provisional patent application for its iGlucosesystem, currently under development, which uses wireless SMS messaging to automatically communicate a diabetic patients blood glucose levels from any data-capable glucose meter to an online database. Thecompanyalsoannounced that it has commenced second-stage development work on itsiGlucosesystem. The scope of this stage is miniaturizing the product and creating a small cradle that connects to any data-capable glucose meter to automatically communicate a diabetic patients blood sugar readings to an online database. The company expects to complete a prototype of the device during the second half of 2010. Shares of PSID closed at $1.44, down $0.10, or 6.5%, from last week.
ImmunoCellular Therapeutics (OTCBB:IMUC)announced that Manish Singh, Ph.D., President and CEO, presented at the Cancer Stem Cells Conference, a leading industry event, on Wednesday, March 24th. At the event, Dr. Singh presented clinical data on ICT-107 and developmental plans for the candidate, preclinical data on ICT-121 and the mechanism of dendritic cell based vaccination, during a session entitled, Translating Research into Drug Development I. Shares of IMUC remained unchanged from last week closing at $1.
Money4Gold Holdings, Inc. (OTCBB: MFGD), an emerging global leader in direct-from-consumer, reverse logistics specializing in the procurement and liquidation of precious metals, announced financial results for its fiscal fourth quarter and for the full year 2009. Revenue for Q4 of 2009 was a record$19.7 million, up 287% from revenue of$6.9 millionin the third quarter of 2009. Revenue for the full year 2009 was$29.0 million, up 1,857% from 2008 revenue of$1.6 million, driven by increasing penetration intothe United Statesmarket and rapid expansion into several international markets includingCanadaand theUnited Kingdom. Shares of MFGD closed at $0.195, up $0.015, or 8.3%, from last week.
Drinks Americas Holdings, Ltd. (OTCBB: DKAM), a, developer and marketer of premium beverages announced results for the fiscal third quarter endedJanuary 31, 2010. The company shipped and sold almost $400,000in new product, an astounding 2,566% increase from a reported $15,000 in the three months prior. DKAM alsoreduced Selling, General and Administrative expenses by 62% in the third fiscal quarter compared to the same quarter of the prior fiscal year. Shares of DKAM remained unchanged from last week closing at $0.015.
MedClean Technologies (OTCBB: MCLN), announced a partnership with Salesconx, a premier sales organization leveraging a nationwide network of sales and business professionals to rapidly deploy a national sales channel of 15 experienced and highly qualified medical technology representatives who will focus on launching the newly announced MC 4100 / 4200 products targeted at more than 6,000 medium-quantity medical waste generators. The company also announced a co-marketing agreement with Green Umbrella Solutions, a premier provider of innovative technology and services for HIPAA document destruction and recycling. Shares of MCLN remained unchanged from last week at $0.02.
IceWEB, Inc. (OTCBB: IWEB), a provider of Unified Data Storage and building blocks for cloud storage networks, announced last week that the company had signed a distribution agreement with Promark Technology. The company also announced that it had been selected as the High Performance Computing (HPC) storage infrastructure platform by channel partner James River Technical Incorporated for one of their HPC implementations at a major university.. Shares of IWEB closed at $0.18, up $0.013, or 7.7% from last week.
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Adeona Pharmaceuticals (AMEX: AEN) $1.56 As the human race continues to evolve, so do the diseases that afflict it. From pandemic diseases such as the H1N1 virus, the medical industry is being confronted by what could arguably be the most complex issues and unique demands that it has faced in its history. This is especially true for the pharmaceutical industry, as it faces the challenge of how to develop effective treatments for diseases that seem more resilient than ever before.
Adeona is an emerging pharmaceutical company dedicated to the fabrication of proprietary, late-stage drug candidates for the treatment of intractable central nervous system (CNS) and autoimmune diseases. The company primarily focuses on developing novel drug therapies for multiple sclerosis (MS), rheumatoid arthritis (RA), Alzheimers disease (AD) and mild cognitive impairment (MCI), fibromyalgia and graft-versus-host disease. In addition to pharmaceuticals, the company is also involved in medical foods for the dietary management of AD and MCI. Adeonas zinc cysteine medical food is currently the subject of a 60-subject clinical study. Copper/zinc serum based diagnostics are being commercialized through its CLIA-certified diagnostic laboratory subsidiary, HartLab.
One of the companys most exciting projects is Trimesta, an oral immunomodulatory and anti-inflammatory agent used in the treatment of women with MS. MS is a chronic, often disabling disease that attacks the CNS, and affects approximately 2.1 million people worldwide – with 200 more people diagnosed every week in the U.S. alone. Current combined sales of FDA-approved injectable MS therapies totaled $5 billion. Trimesta is a unique therapy in that it was developed based on a study which showed that symptoms of MS in pregnant women drastically improved as result of the production of estriol, a female hormone produced during gestation. The drug candidate is currently being evaluated in a 150-patient randomized, double-blind, placebo-controlled clinical study, and has received a $5 million grant from the National Multiple Sclerosis Society (NMSS) in partnership with the National MS Societys Southern California chapter, with support from the National Institutes of Health (NIH).
Adeona is also developing dnaJP1, a peptide-based oral immune tolerizing drug for the treatment of rheumatoid arthritis. A recently completed randomized, double-blind, placebo-controlled clinical study conducted on 160 patients revealed statistically significant reduction of symptoms in patients who were administered the dnaJP1 drug versus those given a placebo. Rheumatoid arthritis is a chronic inflammatory disease that affects joints and connective tissue, and can lead to pain, stiffness, swelling and limitation of motion. Currently over 1% of the worlds population, including over two million Americans, suffer from this disease. Treatments for rheumatoid arthritis comprise a market of over $13 billion.
At the helm of AEN is Dr. James Kuo, Chairman and CEO. He has been in the biopharmaceutical industry for 19 years and with Adeona since 2007. Prior to Adeona, Dr. Kuo was Chairman and CEO of Cordex Pharma, a company developing a portfolio of cardiovascular drugs. He launched a number of life science products at BioMicro Systems and Monarch Lab. In addition, Dr.. Kuo was head of cardiovascular research at Pfizer, a licensing executive at Myriad Genetic, and a Managing Director of Venture Analysis of HealthCare Ventures. Dr. Kuo holds an M.D. from the University Of Pennsylvania School Of Medicine and an M.B.A. from the Wharton School of Business.
Since December 31st of 2009, AENs stock price has more than doubled, rising from $0.56 to $1.56. Over the same time period, the average volume has risen to over 900,000 shares per day, indicating investors are excited about the multiple late-stage product pipeline that Adeona has developed. In particular, the Trimesta clinical study was granted an additional $860,440 in funding by the NIH in conjunction with the National MS Society in January, which could be a sign that the preliminary results have been very promising.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast`s editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: iceWEB, seven thousand five hundred dollars per month in cash, plus seven thousand five hundred dollars in stock per month for a six-month agreement; Drinks America, seven thousand five hundred dollars per month and six hundred thousand shares of stock; PositiveID Corporation, seven thousand five hundred dollars per month; Money4Gold, ten thousand dollars per month and four hundred thousand shares for a six-month agreement; MedClean Technologies, seven thousand five hundred dollars per month and six million shares for a one-year agreement;Adeona Pharmaceuticals, twelve thousand five hundred dollars per month payable half in cash and half in restricted stock for a six-month agreement; ImmunoCellular Therapeutics, twelve thousand five hundred dollars per month.
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CLIA · DKAM · HIPAA · IMUC · IWEB · MCLN · MFGD · NMSS · PSID
