|Radient's CEO will kick off Aegis Conference in Vegas|
|Thursday, 28 April 2011 03:11|
This is an important development for these two companies because the conference attracts a lot of market movers like floor brokers, institutional trading desk specialists and other opinion leaders. This is not your typical investors conference. It costs $6,000 just to get in the door. It's obvious that someone wants to hear more details about the developments at these two firms and that the buzz we've been hearing about these emerging penny plays is coming into play. Here is what we know:
After re-structuring and cleaning up the huge debts that ran up during their lengthy FDA approval process for the Onko‐Sure® in vitro diagnostic (IVD) cancer test, the company has been preparing full commercialization efforts not only in the U.S. but also in various countries abroad. In addtion to all of their usual business, management has been setting the record straight about several key issues- including the validation study itself. As other investigations, including our own have proven, the validation study was designed and coordinated with clinicians at the Mayo Clinic. A special investigator with ties to the SEC, a former NASDAQ listings compliance officer turned consultant and the very high profile law firm which Radient hired presented that evidence and more in the form of contractual and IRB backed study materials to various review board members at the NYSE Amex. Much of the damage to the company's reputation came after a tabloid columnist maliciously reported that the Mayo Clinic denied any link to Radient in an improperly filed (and later corrected) headline that was sent across newswires and shaved millions of dollars off Radient's market cap.
Sources tell BioMedReports that DLA Piper, the law firm retained to represent the RPC has set their sites on the individuals whose actions have caused the most harm to the firm's investors and business activities. One source, who spoke on condition of anonymity, made it clear that the completely unnecessary and costly headaches which have been caused are not being taken lightly by the legal team and other officials. According to the same source, some of those individuals have been put on notice in writing and/or face the possibility of legal action going forward.
As if that weren't enough to cause the 5-6 million shorts in the stock some angst, it appears the other shoe is about to drop. Cash from the highly debated $10 million dollar order from the Indian Government's cancer screening program sold by Ministry of Health and Family Welfare approved distributor Gaur Diagno in India, is set to start coming in. The money, as specified in the sales contracts, will come in on a regular basis and company officials should document the key material event in official SEC filings.
After a very successful hearing with NYSE AMEX officials that has allowed the company to continue trading on the big boards, the sense we get from talking to other analysts and observers is that Radient is also set to start being more aggressive in their marketing and visibility efforts.
The kick-off speech at the Aegis Conference in Las Vegas by CEO, Douglas MacLellan should be very enlightening and we will certainly report what we hear.
The other company that has been invited to present is Tapimmune (OTC:TPIV). Shares of the company rose 5% during Wednesday's trading after our initial report to subscribers.
While there are ongoing vaccine trials targeting Her2/neu. The major disadvantage of technologies that are currently in development are their inability to cover all or a majority of Her2/neu cancer patients and their ability for long-term protection. Some of them seem to be effective only in a subset of Her2/neu cancer patients. Along with Mayo the company believes this new technology could cover up to 90% of the Her2/neu patients and perhaps even last a life time. This would mark a significant improvement that could cover an additional 30% of the population who may not be covered by the other technologies that are currently in development (after some recent meetings with the FDA we are anticipating an NDA Filing shortly). Her2/neu receptor related cancer is a very aggressive form of breast cancer that affects a subset of breast cancer patients. Herceptin (a Her2/neu inhibitor by Genentech) is an approved drug with annual sales in excess of $4 Billion.