Enzo Biochem, Inc. (NYSE:ENZ) is a leading life sciences and biotechnology company focused on harnessing genetic processes to develop research tools, diagnostics and therapeutics and provides reference laboratory services to the medical community.
The business activities of Enzo Biochem are performed by the company�s three wholly owned subsidiaries . . . Enzo Life Sciences, Enzo Therapeutics and Enzo Clinical Labs.
Enzo Biochem, Inc. reported improved sequential results for the first fiscal quarter ended October 31, 2010, the result of recent programs to reduce expenses, consolidate activities and expand operations.
The Company’s financial condition remained strong, with working capital of $42.1 million. As of October 31, 2010, cash and cash equivalents, plus short term investments in US Treasury Bills, totaled $31.6 million. At November 30, 2010 Enzo�s cash, and cash equivalents and short-term investments were $33.9 million, which exceeded the July 31, 2010 balance by $0.3 million. Cash utilization in operations declined year over year by approximately $1 million to $1.8 million principally due to the reduced loss in the 2011 period. Management�s plan is to move towards being cash flow positive from operations in calendar 2011. There was no debt.
Among the quarter�s highlights (all references are to sequential quarter over quarter results, normalized for an inventory charge and severance of $1.8 million where applicable):
Enzo Life Sciences, benefiting from increased emphasis on higher margin products, realized a greater than 100% gain in operating income.
Enzo Clinical Labs increased revenues 6%, while reducing the operating loss 62%.
Company-wide, gross margin increased $2.0 million or 17%.
Operating expenses decreased 7%, or to 57% of revenues, from 63%.
EBITDA, a non-GAAP measure, was $23,000, an improvement of $2.9 million from the prior quarter.
Net loss for the quarter was reduced 70%.
Global Hunter Corp. (TSX.V: BOB) (FSE:G5D) is pleased to announce that it recently completed a surface sampling program at La Corona de Cobre. The program was designed to collect surface samples from the numerous prospective shear zones. This will aid in the definition of drill targets to expand on the copper oxide mineralization. The company has collected approximately 250 samples from the shear zones listed below.
The shear zones and areas of alteration that have been sampled (from East to West) include the following zones:
- El Manto
- La Golondrina
- Cerro Borracho
- El Tazon
- La Copa
- La Varrilla
- Et Tazon
- Vino Fino
- Abisinia
- Las Posadas
The samples will be collected from outcrops along the entire strike lengths of the shears and have been shipped to ALS Chemex Labs in La Serena Chile for analysis. Results will be released as soon as is practical after they have been received.
Global Hunter�s flagship project is the La Corona de Cobre property, located 70 kilometres north of La Serena, Chile, along the Pan American Highway, within the coastal belt of the Andean Cordillera. The NI 43-101-compliant resource contains 225 million pounds of copper oxide. In addition, the Company has its Rabbit South molybdenum project in south-central British Columbia, Canada.
For More Information Go To: www.globalhunter.ca
Allos Therapeutics, Inc. (Nasdaq:ALTH) announced that the Company�s Marketing Authorisation Application, seeking approval of FOLOTYN� (pralatrexate injection) for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma (PTCL), has been accepted by the European Medicines Agency (EMA). Acceptance of the MAA by the EMA indicates that the application is complete and initiates the EMA�s regulatory review process. The MAA is based on clinical data from the Company�s pivotal Phase 2 trial known as PROPEL Pralatrexate in patients with Relapsed Or refractory PEripheral T-cell Lymphoma.
Allos Therapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing anti-cancer therapeutics. It is developing FOLOTYN (pralatrexate injection), a folate analogue metabolic inhibitor, for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma.
Dynavax Technologies Corporation (Nasdaq:DVAX) reported safety and immunogenicity data from its Phase 1b clinical trial of DV-601, its proprietary hepatitis B therapeutic vaccine. The dose escalation study assessed safety and the immunologic and virologic responses in 14 subjects with chronic hepatitis B infection. All doses were generally safe and well tolerated; and Individual immunologic and virologic responses were observed across cohorts at all dose levels.
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases. The company’s lead product candidate includes HEPLISAVTM, a Phase 3 investigational adult hepatitis B vaccine designed to provide protection with fewer doses than current licensed vaccines.
Repros Therapeutics Inc. (Nasdaq:RPRX) reported it has submitted to the FDA a reanalysis of the previously completed 200 subject trial ZA-003 of Androxal� in the treatment of secondary hypogonadism as noted by Repros in the Company�s press release of November 9, 2010. The Company contracted an outside statistician, Tony Orlando, Ph.D., V.P., Global Data Division, Pharm-Olam International Ltd., to conduct the analysis. Dr. Orlando performed several different analyses.
Repros Therapeutics, Inc., a development stage biopharmaceutical company, focuses on the development of oral small molecule drugs for the treatment of male and female reproductive disorders. The company�s primary product candidate includes Androxal that completed Phase IIb proof-of-concept trial in men being treated for low testosterone levels who want to improve or maintain their fertility and/or sperm number and function.
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