Even worse, the deal with ChromaDex is just a deal with Spherix by another name. They split up Cain and Abel, but they're still doing deals. Probably just as successfully as they did before, too...
Spherix has increased its endeavor for extending the commercial market for D-tagatose. It is also attempting to extend the structure function claims for the GRAS food ingredient, and for optimizing a new system of D-tagatose production. Spherix had recently signed an NDA with WIO SmartFoods LLC (Utah) and has been selling D-tagatose to it. WIO certifies bariatric clinics and diet clinics to use its proprietary meal replacement plan to promote weight loss and helping people with metabolic syndrome which is characterized by obesity, diabetes, and atherosclerosis (Spherix's areas of research). D-tagatose is, therefore, not just a simple low calorie sweetener, and with expanding markets, the potential of the ingredient is likely to grow. Spherix wants to analyze ways to reduce cost of production so that the product can be used more widely. High cost of production has been one of the main obstacles for growth in usage. After change of its business model recently, Spherix is a full service patent company which provides a global commercialization platform for patent protected technologies. It is no longer restricted to drug research and intends to acquire / monetize patents in various fields. Recently it entered the patents arena of wireless communications and telecommunication sectors including antenna technology etc. Even for its drug research, it has several patent applications pending. Most importantly, Spherix has been able to find the backing of Hudson Bay Capital and Iroquois Capital Group which are known to be astute investors in the small cap companies. The IPR monetization business is a business model now with several companies making it big through infringement lawsuits and licensing revenues. The future of Spherix depends on its ability to optimize the value of its patents through enforcements from time to time. Of course, revenues from products like D-tagatose will help bring in a regular stream of cash flow which will strengthen the balance sheet.
Hi Guys ..
Intelgenx launched their first drug Forfivo in October this will drive Intelgenx into Profitability this Year because of its very low burn-rate of around $1.2 Mil a year !
IGXT Submits NDA for Anti-Migraine Versafilm to FDA in March another 1x NDA filing for Erectile Dysfunction Versafilm and 2x ANDA filings expected in 1H 2013. Two Partnerships for Anti-Migraine and Erectile Dysfunction products is expected in 1H 2013 too which means more Cash for Intelgenx .Intelgenx has 9x Drugs in late stage which will be all on the Market within next 2-3 years .
IGXT has NO DEBT and Cash untill 2016 means enough to drive this Company into Profitability which is expected for this Year . Current Market Cap of just $31 M is really Brutally Underpriced .
IGXT has the Potential to hit $10++ within 2 Year ! GLTA
Market Cap : $31 M
Cash: $3.5 M
Burn-Rate : $1.2 M a year
Price : $0.63
Shares Out : 50 M ( 20 M shares are held by Insiders & Institutions)
March 27, 2013 IntelGenx Corp. a Canadian drug delivery company focusing on oral drug delivery, today announced that, together with its co-development partner RedHill Biopharma ("RedHill"), it has submitted a 505(b)(2) New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") for the Company's anti-migraine oral film product, a novel oral thin-film formulation based on its proprietary VersaFilm(TM) technology containing Rizatriptan, the active drug in Merck's Maxalt-MLT(R) orally disintegrating tablets.
"We are very excited that our first FDA-approved product, Forfivo XL(TM), has been launched in the USA in early October by our partner Edgemont Pharmaceuticals. We believe that ForFivo XL(TM), as the only single tablet 450mg bupropion HCl available in the U.S., will be a valuable tool for physicians in their management of patients with major depressive disorders," stated Dr. Horst G. Zerbe, President and CEO of IntelGenx.
The volumes remain very low, but the stock seems to have found support around $7.0. The first level to cross would be the 200 DMA of $8.14. That will require some force and volume. The volatility over the last few months has been tremendous and the stock has moved wildly. The 52 week high is $18.80 and the low is $5.51. From this low it tried to make a comeback, but $14 was a strong resistance, and the stock could not overcome that. $7 was expected to be a support, and that is holding for the moment. However, till the volumes increase and there is some strong momentum, it will be difficult to consider the correction to be over. It will be good if the stock can spend some time around the current levels to consolidate before making a move to cross the hurdles. Recently, private placement of shares and warrants was done around $6.50 levels and the stock had strongly taken off from that point to touch $13.91. The fact that SPEX is a pure patent play now makes it slightly leaner with lesser overheads. It has better focus on drug development / IPR acquisition. This is because, recently, several companies are making news for attempting to monetize their patents. e.g. Document Security System (NYSE:DSS) is likely to benefit from a patent infringement lawsuit filed by its subsidiary against Facebook (FB), LinkedIn (LNKD), Novell (NOVL), Broadvision (BVSN) and Jive Software. The lawsuit is worth hundreds of millions and the Markman hearing is scheduled soon. The SPEX management understands the potential of patent monetization business and the recent sale of the consulting division was done with this background in mind. It seems that something may be cooking. But for traders, volumes will be the key metric, and $8.14 will have to be crossed decisively.
The fall on low volumes continued. The 10 day average volume was 1922 shares compared with 10,355 shares for the 3 month average. On Friday, it fell on volumes of only 100 shares. The momentum is totally missing and the break below the 200 DMA of $8.3 has shaken the stock. In the last 10 weeks, the stock has moved from $5.51 to $13.91 and has now come back to $7.2. During the rise, the volumes were great and during the fall they have been abysmally low. The 52 week high of 22.40 was made on 18th April, and $ 14 level which is the half way mark, proved to be a very strong resistance. Private placement of shares of SPEX was done at around $6.50 and that level should provide support. In fact, it broke below $7 a few days ago but bounced back. Hopefully, this should be a bounce point, and there is investor interest around these levels. Next few trading sessions will be crucial to determine the short term trend for the stock. After the sale of Spherix Consulting, the company has become a drug development company. It is focused on building a portfolio of patents based on the progress achieved in the trials for the anti-diabetes and other drugs. The overheads may be reduced but the real progress will come if there is a breakthrough in the research. That will ultimately determine the shape of the long term story. For the very short term, the volumes have to pick up and the stock has to cross the $8.3 level. That may be a significant resistance, and if that is crossed, then one can consider the deep correction to be over. More news from the management about progress on the trials will increase investor confidence. Stocks of these research companies move in tandem with the milestones achieved in the trials.
You have that right for sure. I was a total sucker for D-Tagatose and dumped a lot of money in Spherix stock... needless to say that I a losing big time.
per yesterday's sec filing, SPEX will issue 1,148,152 sahres of Series D Convertible Pfd Stock to North South to buy their IP and business. Each share of Series D Conv Pfd stock is convertible into 10 (TEN) shares of SPEX common stock....therefore North South will receieve the equivalent of 11,481,152 shares. SPEX currently has around 800,000 shares....so this one dilutive deal alone reduces current shareholders to less than 7% of the new firm.
And don't forget the filing also sets aside 2,800,000 new shares of common for employee incentives (and, again, only 800,000 exist now) so employees will be given incentive shares equal to 3 1/2 times the current float.
This is Reverse Split 101.
I don't know who currently owns this stock (not me for years) but I wonder if they have any idea what they own? or what they think they own?
I have no idea what this thing is....or what these newly acquired patents are worth....but I'm pretty sure the shysters now running the show here will make out very nicely....not so sure about those who own these current shares.....
from last week's release:
"This week's show features interviews with...Anthony Hayes, CEO of North South Holdings, Inc., soon to be acquired by Spherix, Inc. (SPEX), creating a patent monetization and commercialization company."
SPEX, who over the course of 20+ years, could neither monetize nor successfully commercialize their Tagatose patents....will now be a "patent monetization and commercialization company."
Too f'n funny......
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