The following are excerpts from a March 14, 2012 APRI Pump on PRNewswire: Apricus Biosciences, Inc. (APRI) Transforms From Development Company to Income Generating! .CEO Bassam Damaj Featured on CEONEWS.Tv
Damaj noted that the company expects Abbott Laboratories to begin marketing Apricus Bio's NexACT® – based Vitaros® topical cream for erectile dysfunction (ED) in Canada this year. The topical application of Vitaros® helps to reduce side effects and enables men who cannot take, or do not do well with the existing ED drugs, to have a patient-friendly alternative.
In addition to its partnership with Abbott, Apricus Bio has established sales and distribution partnerships for its products with Warner Chilcott and Novartis, and the company will set up other partnerships as needed, Damaj said. Other key NexACT®–based products in Apricus Bio's commercialization pipeline include Femprox®, a treatment for female sexual arousal disorder ("FSAD"), MycoVa ® for nail fungus and PrevOnco™, a treatment for hepatocellular liver carcinoma.
As a key part of Apricus Bio's transition to a commercial, specialty pharma, Damaj cited the recent or pending acquisitions and agreements in oncology and oncology supportive care, including of Topotarget USA and PediaRx with their FDA approved drugs: Totect® (dexrazoxane HCl), Granisol™ (granisetron), and Aquoral™. In addition, Damaj cited the fact that Apricus Bio was chosen to ring the closing bell at the NASDAQ Stock Market on March 9 as validation of the company's growth. He said that his key focus in 2012 will be to build a higher regard for Apricus Bio among individual and institutional investors, analysts and pharmaceutical partners. End Excerpts.
Apricus Bio was not able to salvage much from Damaj's foolish acquisitions of near worthless drug rights such a Granisol, Totect, Aquoral, and NitroMist. Femprox, MycoVa, and PrevOnco have gone nowhere. Despite Damaj's Canadian launch pumping Vitaros never launched in Canada.
On July 5th, 2013 in his Biotech Mailbag Adam Feuerstein had the following to say about Bassam Damaj and APRI: "Apricus has done a good job of cleaning up the mess left by departed CEO Bassam Damaj, who bascially ran the company into the ground with a series of disastrous product acquisitions."
On December 14th, 2009 it was announced that Bassam Damaj was the new CEO of NexMed (now APRI). On that day the adjusted closing PPS of APRI was $6.00. On June 21st, 2010 Damaj's APRI had a 1:15 Reverse Split and the adjusted closing price was $3.24 per share. On Nov. 6th, 2012, the day Damaj's resignation was announced (forced out in my opinion) the APRI adjusted closing PPS was $2.94 and $3.00 the day before.
This is in response to the naive folks who believe that Damaj took APRI from 19 Cents to $6.00 per share. You have to account for the reverse split. The adjusted PPS was much lower at APRI when Damaj left Apricus Bio than when he became CEO. So much for Damaj creating sharteholder value.
Name, you would not know credibility if it slapped you upside the head. Why are you so afraid to do REAL DUE DILIGENCE on Damaj? I know! You are afraid of what you may find, and you should be based on the actions of Damaj at APRI.
Sorry! I never watch the Kardashians or TMZ. I will leave that to you. Gtttr15, you stated, "you're just plain bashing out internet bashing a person you never met, (sic) what does that say about you.?" That is an inane statement, 15. It is not necessary for me to have met Damaj to comment about him and actions at APRI. You sound like an INNV insider.
If I said that Damaj was the greatest thing since sliced bread, you would not have a problem with that even know I never met Damaj. Get Real!
Damaj seems to be a far better doctor than CEO. He should stick with being a doctor.
Oh! You bought high and sold low on APRI? Too bad for you. The same thing will probably happen to you with INNV.
I never said that I had a loss with APRI. Thanks for your lame Straw Man Argument. Go on believing every word that comes from the mouth of Damaj. You will get what you deserve.
Name, you clearly would not know credibility if it slapped you upside the head. Why are you so afraid of doing Due Diligence on Damaj? I know. You are afraid of what you will may find, and you should be afraid based on his actions at APRI.
I am not betting for or agianst INNV. My goal is to get INNV investors and potential INNV investors to actually do REAL DUE DILIGENCE on Damaj and not fall for his HYPE and SPIN.
Let Damaj put his money where is mouth is by purchasing at least several million INNV shares on the open market!
LOL! Tor, By "stop crying" you mean shut up. If I was posting what you consider positive posts, you would be telling me to post more. When Damaj was CEO, I tried to make lemonade out of some nonsense he did at APRI like the acquisition of ToTect. He really made a mess at APRI and has no business being in a position of trust, IMO. As for me having nothing but praise for Damaj and APRI, that is a joke. If Damaj did a good job at APRI, he would have been offered a CEO position at a reputable company. Damaj had to create his own position by combining Fastrack Pharmceuticals, a private company in which he held shares, with a publicly traded company, North Horizon, Inc. to create Innovus. There was nothing posperous about either of these companies, but Damaj came out with huge number of shares in Innovus. If Damaj really believed in Innovus he would be BUYING huge amounts of INNV ( actually paying for shares) on the open market.
Learn the hard way, Tor.
"I hope he does the same with this stock what he did for APRI" That is an inane comment, Down. What he did for APRI?? Funny! You should mean what he DID TO APRI. Clearly you do not know the history of Damaj at APRI. Careful what you wish for. You just may get it.
At APRI Damaj foolishly acquired near worthless drugs like Totect, NitroMist, and Granisol. Pascoe had to clean up the big mess Damaj created with his acquisition of a French Company which was to market Vitaros in France. The company was in trouble and had to be folded before ever selling a single dose of Vitaros . Former workers at the French company sued. Thankfully, Pascoe was able to out license Vitaros to Lab. Majorelle. It cost a big chunk of the upfront payment from Majorelle to settle the lawsuit. These foolish acquisition by Damaj cost shareholders a lot. After the mess Damaj made at APRI, it would have been very difficult for him to get a CEO job. Damaj, therefore created his own job by combining Fastrack Pharmaceuticals with a publically traded shell company, North Horizon, Inc..
The main reason APRI has tanked to its current PPS is that its CEO, Pascoe, took a huge risk with Fispemifene and failed.
Weed, we are not taking about drugs. Vesele and RecallMax are nutritional supplements. The ingredients must be listed on the label.