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A pharmaceutical and medical technology company, which conducts research and development both domestically and abroad on proprietary pharmaceutical products.
As I predicted, the company has been chipping out low-yield international deals for Vitaros and so far the stock has been bumping each time a deal goes through. Today's short-lived spike was due to a deal in the Middle East. There are many reasons to be dubious about the prospects of PrevOnco, the company's most advanced pipeline compound. PrevOnco is an unspecified derivative of lansoprazole (Prevacid), a commonly-prescribed antacid. There is absolutely no evidence of any antineoplastic activity in humans. The company proposes to proceed directly to a phase III trial based on activity on tumors in mice.Apricus bulls point to Vitaros as a back up plan but the company has completely divested themselves of US rights to the drug, and will have to chip out individual approvals around the world in order to make the drug profitable. Meanwhile, Viagra will be going generic in 2012. Apricus displays typical bad biotech behavior in thumping their chest about countless drugs in clinical and pre-clinical development, yet they only burned 3M last quarter and have 4M in cash reserves. A large dilutive financing is virtually certain in the near future.
Dale Carnegie once said: „Every business is about people“Bassam Damaj, Ph.D / Apricus Biosciences CEO /Dr. Damaj is a very knowledgeable and well respected professional in the field. In the early 2000s, he was approached by the U.S. government. The military was in search of a technology that could detect Anthrax and its level of infection in the human body. Remarkably, Dr. Damaj was able to deliver this kit—the first of its kind—in less than six months, winning him a U.S. Congressional Award in 2002. This is a testament to the respect and talents of the Apricus Bio leadership.Roberto Crea, Ph.D. / Apricus Biosciences Director /Dr. Crea was appointed to the Board in December 2009, and has over 30 years of experience in the biotechnology field as a scientist, investor and entrepreneur. He is one of the scientific co-founders of Genentech, founder of Creative Bio Molecules, Inc. (1982), Creagen, Inc. (1992), CreAgri (1998), Bioren (2002) and ProtElix (2005). Creagen, Inc. was merged into Neurex in 1994, which was then sold to Elan Pharmaceuticals for over $700 million. Pfizer successfully acquired Bioren in 2005. Dr. Crea received his Ph.D. in Biological Chemistry from the University of Pavia, Italy. He was also an Associate Professor of DNA Chemical Synthesis at Leiden University in the Netherlands prior to moving to the U.S. in 1977. Dr. Crea is the author of more than 25 international patents and has co-authored more than 50 scientific articles. He was also the recipient of the Rumbaugh Award for Scientific Contribution given by the Juvenile Diabetes Foundation for America.
Nice cut and paste job. I'm convinced.
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