Ardea Biosciences Inc. (RDEA) reported third quarter net loss of $2.47 million, or 13 cents per share, which was significantly lower than the Zacks Consensus Estimate of 47 cents. The company reported a net loss of $14.2 million or 95 cents in the year-ago period. The lower loss was attributable to the higher revenues coupled with lower operating expenses recorded in the quarter.  Revenues came in at $9.17 million as against none in the year-ago quarter. The revenues resulted from the recognition of a portion of the upfront payment of $35 million under the global agreement, with Bayer HealthCare focused on the development of MEK inhibitors for the treatment of cancer.  Operating expenses for the quarter decreased 21.4% to $11.4 million primarily due to reduced research and clinical development expenditures. Research and development expenses decreased to $9 million from $11.5 million in the third quarter of ...

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Wednesday November 11, 2009

DrStockPick.com Stock Report!

PWRM, CELG

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PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3 Medical Products, Inc. is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of diagnostic tests and drug targets. Power3’s patent-pending technologies are being used to develop screening and diagnostic tests for the early detection and prognosis of disease, identify protein biomarkers, and drug targets. Diagnostic tests are targeted toward markets with critical unmet needs in areas including neurodegenerative disease (NuroPro) and breast cancer (BC-SeraPro). Power3 expects to complete phase II clinical

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Geron Corporation (NASDAQ:GERN) today announced that they have reached an agreements with the Food and Drug Administration to re-initiate clinical trials for spinal cord injury. The company said that they plan to advance clinical development of their human embryonic stem cell (hESC)-based product, GRNOPC1 which will be used for the treatment of spinal cord injuries. The plan is to let Geron Corporation restart the Phase 1 clinical trial of GRNOPC1 in patients who are suffering from complete thoracic spinal cord injury and to support the future expansion of the clinical trial with patients who are suffering from cervical injuries.

Geron Corporation is one of the developers for the first-in-class biopharmaceuticals that is used for the treatment of cancer and chronic degenerative diseases like spinal cord injury, diabetes and heart failure. GRNOPC1 that is being developed by Geron Corporation is made for the treatment of spinal cord injury but Geron is

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Sanofi-Aventis SA (ADR) (NYSE:SNY), France’s biggest pharmaceutical group has accused Hospira Inc and Canada’s Apotex Inc of infringing patents for the cancer drug Taxotere. Sanofi-Aventis has said that both the companies have tried to copy their products. Earlier Sanofi-Aventis have filed separate complaints against Hospira Inc and Apotex Inc that they have violated the patent laws and have attempted to duplicate their top ranging product that is developed and marketed for the treatment of cancer patients. Though the market reacted sharply after the news broke into the market, but there was not much of fluctuation in the shares of Sanofi-Aventis at the end of the day.

Sanofi-Aventis is one of the leading pharmaceutical companies in France and globally as well. The company is into the research, development, manufacturing

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Sanofi-Aventis has recently been very close to MA-based Dyax. Recently Sanofi-Aventis had made an announcement that they have entered into an agreement with Fovea Pharmaceuticals for US$ 540 million to partner with the pharmaceutical giant for eye therapy. Currently, Fovea Pharmaceuticals and Dyax were developing a drug for eye indication treatment. Additionally, Sanofi-Aventis entered into an exclusive collaboration and licensing deal with Dyax’s licensee, Merrimack Pharmaceuticals to acquire the rights to MM-121, an antibody for the treatment of cancer related diseases.

Sanofi-Aventis deal with Fovea Pharmaceuticals leaves Sanofi partnered with Dyax in a joint development agreement that covers DX-88, an early stage RVO (retinal vein occlusion) induced macular edema which is commonly known as swelling under the central area of the retina. Soon after the news about the Sanofi-Aventis agreement with

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Early Thursday morning, OxiGENE Inc came up with an announcement that its Chief Executive Officer, John A. Kollins has resigned from his position with the Company and also as a member of the Board of Directors in order to pursue other interests. Soon after the news was out in the market, shares of OxiGENE dropped but later on it bounced back to $1.36 in the afternoon trading. OxiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of cancer and eye diseases. The company mainly focuses on the development of vascular disrupting agents (VDA) that selectively disrupts abnormal blood vessels associated with solid tumor progression and visual impairment.

In the absence of the top leading position, Dr. Peter Langecker who is currently the Vice President and Chief Development Officer

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Wednesday September 16, 2009

DrStockPick.com Stock Report!

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Celebrating the stories, culture and heritage of America’s Deaf and Hard-of-Hearing Community, Purple Communications, Inc. (Nasdaq: PRPL) will honor National Champion Motocross Rider and Floridian, Ashley Fiolek for being a role model to deaf youth nationwide and her accomplishments as a stellar athlete in a male-dominated sport. Community members are encouraged to join in the celebration on September 19, 2009 at the Hilton St. Petersburg Carillon Park, 950 Lake Carillon Drive in Saint Petersburg, FL. The event will feature

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Companies featured in this edition of the newsletter: CUR, CVM, ENZ, IMUC, MBCI, ONEZ, PHC, SVUL

Markets finished in positive territory yet again during this holiday shortened week despite the lack of any significant developments on either the corporate or economic fronts. All told, the Dow gained 164 points to close at 9605, up 1.7% on the week and 9.4% on the year. The Nasdaq gained 3.1% on the week, closing at 2080, up 32% on the year, while the S&P 500 and Russell 2000 gained 2.6% and 4.0% respectively on the week, up 15.4% and 18.8% on the year.

It was a slow week on the corporate side, but there were some healthy signals from the technology sector, as Texas Instruments raised its Q3 outlook, guiding for EPS of between $0.37 and $0.41, up from previous forecasts of $0.29-$0.39. Fed Ex also guided higher, citing cost management and better

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Veritec Moves from Pink Sheets to OTC Bulletin Board

-Veritec, Inc. (OTCBB:VRTC), a pioneer and developer of proprietary two-dimensional matrix technology and developer of mobile banking debit card solutions, today September 4, 2009 announced that its common stock has begun trading on the OTC Bulletin Board (OTCBB). Veritec’s common stock was previously quoted on the Pink Sheets.

“Veritec is very pleased to move from the Pink Sheets to the OTC Bulletin Board,” said Jeff Hattara, President and CEO of Veritec, Inc. “As reflected in our recent press releases, Veritec has had a number of significant commercial achievements in the last few months. We’ve taken this step to increase Veritec’s exposure to investors and improve liquidity in the trading of our common stock as part of our overall strategy to drive value for the company’s shareholders”.

About Veritec, Inc.

Veritec, Inc. is a pioneer and developer of proprietary two-dimensional matrix technology. The company’s portfolio

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Vion Pharmaceuticals is a young company that has been breaking new ground with their lead oncology therapeutic Onrigin Injection. Today, results were announced of the Oncologic Drugs Advisory Committee (ODAC) Meeting at which data for the Onrigin Injection was presented for the indication of remission induction treatment for patients 60 years of age or older with de novo poor-risk myeloid leukemia (AML).

The question the U.S. Food and Drug Administration asked ODAC was to vote on the question of whether a randomized study defining the efficacy and safety of Onrigin in the population proposed for the indication be completed prior to regulatory approval of Onrigin. The ODAC voted 13-0 in favor of completion of a randomized study prior to approval. The ODAC reviews and evaluates data concerning the safety and effectiveness of marketed and investigational human drug products for use in the treatment of cancer and makes appropriate recommendations to

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