Symbol: RNN Last: 1.17 Change: -0.08 -6.4000%
Prices are as of 03/01/2010 16:04 ET (15-minute delayed quote)
Reports | Ratings
Nelson’s Consensus Rating: Strong Buy
Ratings (as of 02/26/2010)
Number of Strong Buys 1 100.0%
Number of Buys 0 0.0%
Number of Holds 0 0.0%
Number of Underperforms 0 0.0%
Number of Sells 0 0.0%
Qtr EPS Estimate ($/shr) ($0.03)
FY EPS Estimate ($/shr) ($0.11)
Next FY EPS Estimate ($/shr) $0.00
ACRUX SUBMITS NEW DRUG APPLICATION
FOR AXIRON™ TO THE FDA
Melbourne, 27 January 2010: Acrux (ASX: ACR) today announced that it had
submitted a New Drug Application (NDA) to the US Food and Drug Administration
(FDA), seeking marketing authorisation for AXIRON™, which is indicated for the
treatment of testosterone deficiency (hypogonadism) in men. If approved by the FDA,
AXIRON is expected to be made available to patients in the US market in the first half
“The NDA filing is a major milestone for AXIRON and for Acrux”, said Dr Richard
Treagus, Chief Executive Officer of Acrux. “We are now one step closer to making this
novel treatment available to men living with the effects of low testosterone. The
process of selecting a marketing partner for AXIRON is proceeding as planned”, he
Global sales of testosterone therapies have grown strongly to more than US$1 billion
per annum, with sales of testosterone gels in the US comprising US$0.7 billion.
The NDA submission follows a pre-NDA meeting with the FDA and the recently
announced results from the Phase 3 trial of AXIRON. The trial demonstrated that after
4 months of treatment with AXIRON, 84% of subjects achieved average blood levels of
testosterone within the normal range, exceeding the requirement of 75% that was agreed
with the FDA.
In addition, after only 2 weeks of treatment, it was found that 76% of subjects had
average blood levels of testosterone within the normal range. Analysis of mood, sexual
desire, sexual activity and sexual performance before and after 4 months of treatment
showed statistically significant improvement from baseline across all measures.
CQQQ currently has 34 holdings with the ten largest being Tencent Holdings (TCEHF.PK) 10.2%, Baidu.com (BIDU) 9.4%, Netease.com (NTES) 7.3%, BYD (BYDDY.PK) 7.1%, Alibaba.com (ALBCF.PK) 5.8%, Shanda Interactive Entertainment (SNDA) 4.5%, Sina (SINA) 4.4%, ZTE (ZTCOF.PK) 3.7%, Lenovo Group (LNVGY.PK) 3.7%, and Kingboard Chemical Holdings 3.7%. The expense ratio is 0.70%.
This is the first ETF to focus on the China technology sector, and coincidentally, the second one is expected to be launched by Global X tomorrow.