SpectraScience to Display WavSTAT(R) Optical Biopsy System at Arab Health Conference
2 days 27 minutes ago - DJNF
SpectraScience to Display WavSTAT(R) Optical Biopsy System at Arab Health Conference
SAN DIEGO, CA--(Marketwired - January 19, 2016) - SpectraScience, Inc. (OTCQB: SCIE), a medical device company utilizing light technologies to detect and diagnose cancers, announced today that it will be exhibiting its WavSTAT Optical Biopsy System at the Arab Health Conference at the Dubai International Convention and Exhibition Centre January 25-28. This is the largest conference of its kind in the Middle East and the second largest medical device conference in the world.
"This is a great opportunity for us to make inroads into a geographic location that is becoming one of the more important emerging markets for medical device companies. The level of interest in medical technology to improve patient outcomes and reduce overall cost has dramatically increased in recent years," said Michael Oliver, President and Chief Executive Officer of SpectraScience, Inc. He went on to say, "Our system provides clinical information in real time, while significantly reducing the number of unnecessary polypectomies and biopsies. And it does all that at a cost less than that of traditional biopsies by eliminating the need for pathology. The system is easy to use and does not require the clinician to have extensive additional training. It is designed to be so easy to use that even nurse endoscopists can adopt the system with only minimal training."
The WavSTAT Optical Biopsy System can be seen at Booth # Z5D19 in Zaabil Hall 5 at the Dubai International Convention and Exhibition Centre. Our representative, Graeme Smith, will be available to discuss potential business opportunities.
WOODCLIFF LAKE, N.J. and SAN DIEGO, Nov. 30, 2015 /PRNewswire/ -- Eisai Inc. and Arena Pharmaceuticals, Inc. (ARNA) today announced that the U.S. Food and Drug Administration (FDA) has accepted for filing the New Drug Application (NDA) for an extended release formulation of lorcaserin. If approved, the extended release formulation will offer patients a chronic weight management treatment in a once-daily dosing option.
Lorcaserin (sold under the brand name BELVIQ®) is currently approved as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults who have a body mass index (BMI) of 30 kg/m2 or greater (obese), or BMI of 27 kg/m2 or greater (overweight) with at least one weight-related medical condition, such as high blood pressure, high cholesterol, or type 2 diabetes. It is not known if BELVIQ is safe and effective when taken with other prescription, over-the-counter, or herbal weight loss products, nor is it known if BELVIQ changes the risk of heart problems or stroke, or death due to heart problems or stroke.
"The filing of this application by the FDA means they have made a threshold determination that it is sufficiently complete to permit a substantive review," said Craig M. Audet, Ph.D., Arena's Senior Vice President of Operations & Head of Global Regulatory Affairs. "This extended release formulation has the potential to offer patients once-daily dosing of lorcaserin, which can be an important addition to their chronic weight management plan."
The regulatory filing for the extended release formulation is based on the results of two Phase 1 registrational clinical trials evaluating bioequivalence of a once-daily, 20 mg extended release formulation of lorcaserin, as compared to the currently approved, twice-daily 10 mg immediate release formulation. If approved, the extended release formulation is expected to be marketed as BELVIQ XR®, which is the brand name conditionally approved by the FDA
BRIEF-Boehringer Ingelheim and Arena Pharmaceuticals collaborate to advance research in schizophrenia
Jan 13 (Reuters) - Arena Pharmaceuticals Inc :
* Boehringer Ingelheim and Arena Pharmaceuticals collaborate to advance
research in schizophrenia
* Says under the terms of the agreement, Arena is eligible to receive payments
up to $262 million
* Deal also includes upfront payment and research funding
* Says Arena is eligible to receive tiered royalties on future sales; further
details of the agreement were not disclosed
* Source text for Eikon
* Further company coverage
((Bengaluru Newsroom; +1 646 223 8780))
Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced today fourth quarter sales revenue for the LuViva(R) Advanced Cervical Scan was the highest since the launch of the product.
LuViva product revenue was approximately $276,000 for the fourth quarter of 2015 versus approximately $183,000 for the same period of 2014, an increase of about 51%. Total sales for the year ended December 31, 2015 is expected to be approximately $665,000 compared to $795,000 for all of 2014. The quarter does not reflect a large expected shipment to Turkey that is now planned for Q1 2016. Had that shipment been recognized in 4Q, the company would have recorded an annual revenue increase in 2015.
Death spiral financing is a process inwhich convertible financing used to fund primarily small cap companies can be used against it in the marketplace to cause the company’s stock to fall dramatically, which can lead to the company’s ultimate downfall.
Many small companies rely on selling convertible debt to large private investors (see private investment in public equity) to fund their operations and growth. This convertible debt, often convertible preferred stock or convertible debentures, can be converted to the common stock of the issuing company often at steep discounts to the market value of the common stock. Under the typical “death spiral” scenario, the holder of the convertible debt initially shorts the issuer’s common stock, which often causes the stock price to decline, at which time the debt holder converts some of the convertible debt to common shares with which he then covers the debt holder's short position. The debt holder continues to sell short and cover with converted stock, which, along with selling by other shareholders alarmed by the falling price, continually weakens the share price, making the shares unattractive to new investors and possibly severely limiting the company’s ability to obtain new financing if necessary.
An important characteristic of this kind of convertible debt is that it often carries conditions like a quarterly or semiannual reset of the conversion price to keep the conversion price more or less close to the actual stock price. However, a lower conversion price also increases the number of shares that a bond holder gets in exchange for one bond, which increases the dilution of existing shareholders. A lower price reset can also force investors that have set up a long CB/short stock position to sell more stock ("adjust the delta"), creating a vicious circle, hence the nickname death spiral.
Companies willing to agree to financing on these terms are often desperate and could not obtain funding through any other means. The terms, though viewed by some as onerous, give the lender a potential way to recover their debt regardless of what happens to the shares of the company. The lender would have a potentially greater gain if the shares were to increase in value, but if they decrease in value, there is some protection. Otherwise, they would probably not be willing to lend the money because of the poor risk profiles of the companies interested in this type of financing.
In today's world of advanced technology, a significant part of any company's assets are intangible, originating from patents, copyrights, and other legally protected intellectual property, according to Bill Roberts, writing for Knowledge Management Magazine. Intellectual property (IP) is considered one of the most significant assets of several of the world’s largest and most powerful companies. In fact, IP is the basis for market leadership and ongoing prosperity of numerous multinational organizations. In addition, IP is often the key objective in mergers and acquisitions.
With its 33 active US patents, some 25 European counterparts, continued applications and continuations SpectraScience owns the largest patent portfolio in the field of optical methods for cancer and cancer precursor discovery. These patents provide significant barriers to entry as we continue to broaden our portfolio. Here is a list:
13 patents related to optical biopsy forceps, scanning arrays and confocal optics
16 patents covering spectral analysis applications, obstructions, image normalization and calibration
4 imaging patents covering temporal alignment and focus
The Company has placed heavy emphasis to accelerate its pharmaceutical drug development programs, as the industry is expected to reach $1.2 trillion globally by 2018. The Company's main goal here is to acquire national and international regulatory approval for its cannabis-based formulations, subsequently giving the Company substantial revenue growth considerations. The Company is focused on three main formal drug targets, proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
Further to its expanded pharmaceutical drug development program with partner ImmunoClin (IMCL) out of Europe. The fully GMP compliant facilities are licensed and the Company is already working in the lab to realistically accomplish its aggressive goals. The expanded program is focused on delivering compliant GMP quality pre-clinical data, including cultivation of CBIS specific cannabis strains, formulation and manufacturing of clinical grade material to enable entry of CS-NEURO-1 and other cannabinoid based products into a Phase I human studies in Europe.
In the State of California, Cannabis Science is seeing great success with initial production and testing of its Pure Decarboxylated CO2 Oil (PDCO) and CBD, Sativa, and Indica Capsule products during the last quarter of 2015. The capsules were debuted at The Emerald Cup, a cannabis-centric event attended by over 20,000 consumers and industry vendors. In 2016, product improvements will continue to be made and these products will be rolled out to a wider array of dispensaries. Marketing efforts for the capsule products will be ramped up in 2016, as the company's products are now completely viable and have received outstanding feedback from consumers to date.
To further cement its foothold in the substantial pharmaceutical drug development industry, the Company expects its IGXBIO, Genepro drug development program to be a major pharmaceutical win. Program specific details are expected to be announced in early 2016.
"2015 was a great year of growth for our Company. We made a great deal of progress with our drug development, acquisition strategy, product roll out, and strategic partnership search," said company Director, President, Co-Founder & CEO, Raymond C. Dabney. "With that said, 2016 is looking to be an exciting year for Cannabis Science. We are kicking off the new year with new products already brought to market -- a huge head start over last year. We look forward to announcing all of our ground-breaking progress, step by step, along the way."
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Technology License Agreement
On December 16, 2015, the Company and Inox entered into a Technology License Agreement (the “License Agreement”). Under the License Agreement, the Company has agreed to grant to Inox (i) an exclusive license to use the Company’s technology (not including the source code) to internally manufacture and supply ECS only for use in its Wind Turbines in India, and (ii) a non-exclusive license to use the Company’s technology to manufacture, distribute and supply ECS only for use in its Wind Turbines in the rest of the world (together, the “License”). The grant of the License will become effective after Inox makes an advance payment under the Supply Contract and the upfront payment under the License Agreement discussed below. The License granted to Inox is subject to the limits on the number of ECS permitted to be manufactured by Inox as set forth in the Supply Contract.
Under the License Agreement, Inox is required to make payments to the Company in the aggregate amount of $12 million to be paid as follows: (i) an upfront payment to the Company of $6 million within thirty (30) days after execution of such agreement, and (ii) an additional $6 million as milestones are satisfied over the fifteen-month period from the License Agreement effective date.
Guided Therapeutics, Inc (GTHP) -OTC BB
0.02 Down 0.01(25.82%) 3:59PM EST
Income Statement Get Income Statement for:
View: Annual Data | Quarterly Data All numbers in thousands
Period Ending Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014
Total Revenue 102 112 142 185
Cost of Revenue 230 207 107 168
Gross Profit (128) (95) 35 17
Research Development 413 304 373 666
Selling General and Administrative 1,068 1,202 1,135 1,500
Non Recurring - - - -
Others - - - -
Total Operating Expenses - - - -
Operating Income or Loss (1,609) (1,601) (1,473) (2,149)
Income from Continuing Operations
Total Other Income/Expenses Net (159) 218 720 (515)
Earnings Before Interest And Taxes (1,768) (1,383) (753) (2,664)
Interest Expense 425 323 492 534
Income Before Tax (2,193) (1,706) (1,245) (3,198)
Income Tax Expense - - - -
Minority Interest - - - -
Net Income From Continuing Ops (2,193) (1,706) (1,245) (3,523)
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (2,193) (1,706) (1,245) (3,198)
Preferred Stock And Other Adjustments (545) (1,295) (31) (24)
Net Income Applicable To Common Shares (2,738) (3,001) (1,276) (3,222)
On November 11, 2015, the Company held a special meeting of stockholders at its office in Norcross, Georgia. As of the record date, September 17, 205, there were 131,625,417 shares of Common Stock and 1,277 shares of Series B preferred stock (common stock equivalent being 12,214,252 shares), voting on an as-converted basis entitled to vote at the annual meeting. Represented at the meeting in person or by proxy were 121,183,117 votes representing 84 percent of the total shares of Common Stock entitled to vote at the meeting.
The purpose of the meeting was to amend our Certificate of Incorporation to increase the number of authorized shares of our common stock to a total of 1,000,000,000 shares, to amend our Certificate of Incorporation to effect a reverse stock split, in a ratio to be determined by our board of directors ranging from 1-for-10 to 1-for-100, of all issued and outstanding shares of our common stock, at a time in the three years following such approval to be determined by the board and for the adjournment of the special meeting, if necessary or appropriate in the discretion of the chairman of the special meeting, to solicit additional proxies if there are not sufficient votes at the time of the special meeting to approve the first proposal. The following table sets forth the results of the vote on the matters: