Good Stuff Nephros..it's nice to see this sort of out of the box thinking.
September 21, 2015 07:30 AM Eastern Daylight Time
RIVER EDGE, N.J.--(BUSINESS WIRE)--Nephros, Inc. (OTCQB:NEPH), a commercial stage medical device company that develops and sells high performance liquid purification ultrafilters and an on-line mid-dilution hemodiafiltration system for use with a hemodialysis machine for the treatment of chronic renal failure patients, announced today that it has launched the “Nephros Challenge” campaign, a program designed to encourage dialysis clinics to evaluate the performance improvement potential from using Nephros ultrafilters to assist in providing dialysis quality water or bicarbonate concentrate.
“Qualitative and quantitative feedback from our customers suggests that integrating our ultrafilters with a dialysis clinic’s water treatment system provides measurable improvements in the quality of its dialysis water,” said Daron Evans, President and CEO of Nephros. “We have confidence that our ultrafilters will improve the quality of water leading into the dialysis machines, and are willing to put a money-back guarantee on our dialysis ultrafiltration products.”
“The Nephros Challenge is simple. We encourage the dialysis clinics to develop their own evaluation metrics that include common variables associated with water quality. After six months of using Nephros ultrafilters, if a dialysis clinic does not see improvement in those metrics, then we will provide the clinics with a full refund of the cost of the ultrafilters.”
Nephros ultrafilters are used on the water and bicarbonate concentrate lines which feed into a hemodialysis machine. The ultrafilters retain particles as small as five nanometers (5nm), preventing bacteria, viruses and endotoxins from entering the machine. Nephros’ proprietary filter fiber provides superior protection and enables a five log reduction in levels of endotoxin, which is a key contributor to vascular inflammation in dialy
Daron Evans buys 51,500 shares.CEO Daron Evans purchased 51,500 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $0.53 per share, for a total transaction of $27,295.00. Following the completion of the purchase, the chief executive officer now owns 125,584 shares in the company, valued at approximately $66,559.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission,
Old news...from the last 10k:
Anti-arenavirus Drug Development
In August 2011, we received a 5-year grant of $7.7 million from NIH to continue funding for the development of antiviral drugs for Lassa fever virus. In connection with the Optimization Program, in August 2014, the Company entered into an asset purchase agreement to sell and transfer its pre-clinical Anti-arenavirus assets and research and development to Kineta Four, LLC, an unrelated party (see Note 3 to the financial statements).
MannKind Corp. (NASDAQ: MNKD) is still one of the biggest battleground stocks out there in the realm of biotech and emerging pharma. After getting U.S. Food and Drug Administration (FDA) approval for the inhalable insulin Afrezza, the real push and launch has gotten off to a slow start with very slow use adoption. Then shares of MannKind tanked, only to almost double from their 52-week low in a period of just the past month.
24/7 Wall St. has seen both sides of the coin on MannKind, and the most obvious issue here is that it is not just going to be a battleground stock ahead. It likely will be a tug-of-war stock, each day and each week ahead, until a more clear direction and long-term path is known.
The first tug-of-war is of course going to be how the public reacts to the inhalable insulin named Afrezza. Most doctors do not know enough about Afrezza to prescribe it. Of the doctors that do know Afrezza is approved, many remain more concerned than optimistic. The same appears to be true for many patients. That will be a serious tug-of-war.
Jefferies has remained very positive in its research report on MannKind. Goldman Sachs was very negative, but MannKind is set to present at the Goldman Sachs health care conference this week. You could have Jefferies covering this one endlessly with bullish views, and you could have Goldman Sachs covering it negatively. Then there are other analysts as well.
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Reports have included issues such as a coming capital raise from MannKind. While a capital raise helps the company’s cash and long-term viability, it either adds on debt or it ultimately dilutes shareholders. That means that long-term holders will fight traders in the near term over which direction the stock will go. Tug-of-war!
The short interest from the end of May is not yet out, but will be in hours. We just showed how the short sellers were likely being shaken out, but the reality is that short sellers often stay short or stay negatively biased for more than just weeks. That means the short sellers likely will remain active.
Momentum traders are likely to remain active here. That also means big buying, followed by big selling — and not just in that order. Tug-of-war!
Options traders may create another tug-of-war. The June 12, 2015, weekly expiration options had over 10,000 call contracts and over 5,000 put contracts in the open interest. Each 10,000 contracts, with each contract consisting of the right to buy or sell 100 shares, accounts for a million shares on a fully leveraged basis. The June 19 puts and calls are even more active — far more active, due to those being the monthly expiration that would have been bought weeks and months ahead.
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Anyhow, there are of course more issues to consider with Afrezza and MannKind. Either way, the tug-of-war status looks as though it will remain in place for some time.
MannKind shares were down 5.3% to $6.85 Tuesday afternoon. The stock has a consensus analyst price target of $7.46 and a 52-week trading range of $3.46 to $11.48. The company has a market cap of $2.8 billion.
By Jon C. Ogg
The conference call will include a presentation followed by a Q&A session. It will be accessible through audio webcast and via the following telephone numbers:
Call in numbers
France: +33 (0) 1 70 77 09 40
UK: +44 (0) 203 367 94 53
USA: +1 866 907 59 28
Audio replay (available approximately 2 hours after the end of the call)
France: +33 (0) 1 72 00 15 00
UK: +44 (0) 203 367 94 60
USA: +1 877 642 30 18
Access code: 293697#
about 375k has traded since the last form 4. I don't know if they are required to file a form 4 if the change in ownership is reflected on a 13g. I would imagine that a form 4 is always required to cover the detail of the transaction. What is for sure is a whale, with intimate knowledge of Siga's inner workings, is loading up on the open market.
From the Form 4 from a few days ago, the "Amount of Securities Beneficially Owned Following Reported Transaction(s)" showed as 13,509,722 as of 11/7. From this morning's 13D "Aggregate Amount Beneficially Owned by Each Reporting Person" is listed at 13,759,722 with Percent of Class now standing at 25.6%. This reads as mafco being behind the purchase of 250k additional shares over the last few days.
interesting turn of events and up a bit on this news. Here is Bloomberg's take on it:
Smallpox Drug Maker Siga to Mediate PharmAthene Dispute
By Erik Larson October 31, 2014
Siga Technologies Inc. (SIGA:US), the biological-warfare defense firm supplying the only smallpox drug for the U.S. strategic stockpile, got court permission to mediate a damages award in a licensing dispute that drove it into bankruptcy.
Siga and competitor PharmAthene Inc. (PIP:US), which won a 2006 lawsuit, agreed to mediate a final resolution over the amount of damages Siga must pay, U.S. Bankruptcy Judge Sean Lane said in a ruling yesterday in Manhattan. A creditor committee that includes PharmAthene had supported mediation, according to court papers.
The litigation, pending in Delaware state court, will continue during mediation, and any accord over a possible $232 million in damages reached by the companies will require bankruptcy court approval, Lane said.
Delaware’s highest court last year upheld a judge’s 2011 finding that Siga violated promises to negotiate in good faith with Annapolis, Maryland-based PharmAthene over a license for Tecovirimat when it was being developed. Siga may have walked away from the talks after realizing the drug’s potential value, the court ruled.
Tecovirimat, an antiviral drug, is intended for use during a possible biological terrorist attack and the U.S. needs the product, New York-based Siga said. The company filed for court protection from creditors on Sept. 16, saying the damages award in the lawsuit may imperil its operations.
Filing for bankruptcy allowed Siga to put off posting a court bond on the damages award while attempting to lower the penalty on appeal, Siga said in court filings.
Siga’s chief executive officer, Eric Rose, has said in court papers that his company is committed to fulfilling a contract with the U.S., the total value of which is about $463 million. The deal, struck in 2011, calls for 2 million doses of the smallpox drug, also known as Arestvyr, and 1.3 million have already been delivered, Rose said in September.
Smallpox, is a sometimes-lethal airborne virus as infectious as the common flu. Siga’s drug is the only known viable treatment, the company said.
Siga won the government contract through a unit of the U.S. Department of Health and Human Services, which was authorized by Congress under the Project BioShield Act of 2004 to acquire drugs in the national interest, even if they haven’t been approved by regulators, according to Siga’s court filing.
I do remember... wow that feels like an eternity ago, and still we do not have a clear path forward for FDA approval.
Every so often I yap about this "synthetic potential" and now years later the NYT decides to write about it. I suppose with Ebola and ISIS in the news now this a logical article to see in print. ISIS is the ideal group to see hiring a foundry to whip up a batch for their destructive conquests. They would salivate at the idea of launching this kind of attack on the mainland US. In the Ebola fiasco we clearly see that our gov't is unprepared for an outbreak. A bad mix of political correctness and hubris has left us with a scatterbrained response thus far. I have yet to hear a sensible explanation as to why we have not secured our borders or at the least instituted a commercial travel ban.
Author of this article, Leonard Adleman just grasped what we have been discussing on this board for years....The Synthetic Potential. Genomic Foundries are out there and groups like ISIS are sophisticated, capitalized, and sick enough to use them to deliver this nightmare scenario, especially after seeing how unprepared and scatter brained the CDC is in their response to Ebola.
"...If you search online, you can find the sequence for the smallpox genome. It is a word written with the letters A, T, C and G. The word is about 185,000 letters long. It is the word that tells cells to make smallpox viruses. The sequence was stored on a computer in the early 1990s, when a research team led by J. Craig Venter obtained it using a biotechnical process applied to a sample of the virus.
Of course, a word in a computer file cannot kill you. Well, yes and no. In the 1990s, I ran a biotechnology laboratory. In my lab there was a machine much like a soda dispenser, only in this case the reservoirs were filled with chemicals. If I typed in a short word of my choice using the letters A, T, C and G, the machine would squirt one chemical after another into a test tube. When it was done, the test tube would contain trillions of molecules of DNA. Each would look like a necklace, with molecules of adenine, thymine, cytosine and guanine (the building blocks of DNA) strung according to the word I had typed.
At that time, the 10,000-letter sequence of the H.I.V. genome was available online. I contemplated using my machine, together with well-known biotechnical methods, to create, de novo, the H.I.V. genome — an actual molecule identical to that found in H.I.V. viruses living in the wild. I had reason to believe that inserting such a synthetic molecule into a living human cell would cause the cell to manufacture full-blown H.I.V. viruses that could then be transmitted from person to person and cause AIDS...."
CMX001 is starting to look like the Silver Bullet we had hoped for in ST-669 back when Siga was still a motivated research and development company. CMRX traded at 52 week highs today on this news at over 10x average volume.
The last I heard Duncan was in very bad shape. If CMX001 brings him back from the brink, and assuming it works as well on smallpox, this would be yet another reason for BARDA to weight its purchase over ST-246...that is, if they are still planning on procuring the follow on courses that Chimerix protested Siga initially being awarded. Parsons' non-speculative assessment of ST-246 is looking more and more speculative by the day, as alternatives for the stockpile look more and more attractive.