 |
 |
 |
 |
 |
 |
 |
 |
 |
|
News
Axys Pharmaceuticals Announces Profitable Second Quarter 2000 Axys Pharmaceuticals, Inc., (Nasdaq: AXPH) reported net income of $21.4 million, or $0.61 per share, for the quarter ended June 30, 2000, compared to a loss of $13.2 million, or $0.44 per share, in the second quarter of 1999. The results for the quarter included the sale of the company's subsidiary, Axys Advanced Technologies (AAT), to Discovery Partners International, Inc. (Nasdaq: DPII), a San Diego-based provider of drug discovery technologies to pharmaceutical and biopharmaceutical companies. Under the terms of the sale, Axys received 7.425 million shares of DPII common stock, a 40% ownership interest in DPII. Second quarter 2000 operating expenses were $13.1 million, a 34% reduction over 1999's second quarter, reflecting the company's decision last year to eliminate early-stage research and focus resources on a nearer-term oncology research and development pipeline. John Walker, chairman and chief executive officer, said Axys continues to execute a strategy to fund ongoing drug discovery and development activities by incubating several affiliated technology units and eventually spinning them out as independent businesses. Since 1998, the company has spun off its agricultural biotech venture, Akkadix, and its pharmacogenomics business, PPGx, and completed the merger of AAT with DPII. Based upon DPII's initial public offering price in July, the AAT spinout created approximately $134 million in value. "I am personally very pleased at the marriage of our strong science with a much stronger balance sheet," Walker said During the quarter, the company announced that its Phase II clinical study of a tryptase inhibitor for ulcerative colitis would continue with 61 patients. But in May, Axys and its partner Bayer AG discontinued development of BAY 44-3428, a potential oral treatment for asthma, because of the compound's toxic properties. Endocare Opens Training Centers, Reports Record Revenues for Second Quarter Endocare, Inc., (Nasdaq: ENDO) a leading developer of cryosurgical technologies for the treatment of cancer and temperature-based treatments for benign prostate growth, today announced that revenues rose 158% to $1.6 million in the quarter ended June 30, 2000, compared to the $607,000 posted in the same quarter last year. Endocare Chairman and Chief Executive Officer Paul Mikus attributed the continued revenue growth to the increasing number of centers offering cryoablation as a treatment option for prostate cancer, liver and renal disease. As part of its U.S. rollout of cryoablation technology, Endocare announced the opening of training centers at three leading medical centers. Two of the new centers, Columbia Presbyterian Hospital in New York City and Crittenton Hospital in Rochester, Mich., will train surgeons to perform targeted cryoablation for prostate cancer treatment. The third, located at the Cleveland Clinic, will focus on the cryoablative procedure as a treatment for renal disease. The company plans to open several more training centers before the end of the year. "The demand by surgeons to be trained in these procedures has outstripped our in-house proctoring capacity. The opening of these training facilities will accelerate the growth in the number of physicians trained and performing these procedures. The high level of expertise that resides at each center ensures that surgeons who receive the training will be exceptionally qualified," Mikus said. Duke Bahn, M.D., Co-Director of the Crittenton Prostate Center, said, "As the cryoablation technology has advanced, it has steadily become an important part of the treatment landscape for prostate cancer. More and more patients are seeking out this option, and as a result, there is an imminent need to train surgeons in this procedure."
LifeCell Corporation (Nasdaq: LIFC) reported record revenues of $5.9 million for the second quarter of 2000, up 81% from $3.2 million in the same quarter of 1999. This increase in revenue was largely due to the commercial launch of Cymetra, a product for nonsurgical soft tissue repair, and continued revenue growth for Repliform, a product for urogynecology applications. Cymetra is being marketed through an alliance with Obagi Medical Products, and Repliform is sold through Boston Scientific. Company officials believe they are on track with LifeCell's transition from a start-up company focused on research and development to an operating company with a commercial focus. Paul G. Thomas, LifeCell's president and chief executive officer, said the company remains focused on achieving profitability in the near term. LifeCell Corporation is a leader in the emerging field of regenerative medicine and has developed three products for the repair, replacement and preservation of human tissues.
Matrix Announces Positive Results of Cancer Treatment Trials Matrix Pharmaceutical, Inc., (Nasdaq: MATX) presented additional data from the Phase III clinical trials of IntraDose (cisplatin/epinephrine) injectable gel at the fifth International Conference on Head & Neck Cancer in San Francisco. Michael D. Casey, chairman, president and CEO, called the results "very encouraging" and said Matrix expects to complete its New Drug Application for IntraDose with the U.S. Food and Drug Administration by the end of the year. The FDA earlier granted fast-track status to IntraDose for the treatment of recurrent or refractory head and neck cancer. The company also received Orphan Drug designation for IntraDose and presented important clinical results at the American Society of Clinical Oncology (ASCO) and the Digestive Disease Week annual meetings for the use of IntraDose to treat primary liver cancer. Given the advanced stage of disease and extensive treatment history of the patients in the trials, doctors are encouraged by the response to IntraDose which is injected directly into the tumor and is designed to be used as a single therapy or integrated with other cancer therapies. Harinder Garewal, M.D., from the Department of Medicine at the Arizona Cancer Center, said, "It is very encouraging that many of these patients, after attaining a local response with IntraDose, were able to go on to a systemic or consolidation therapy. Without IntraDose, these patients would not have been considered for these therapies."
Photon Dynamics Enters Exclusive Partnership in Singapore Photon Dynamics, Inc., (Nasdaq: PHTN) announced an exclusive partnership with Aneric Enterprises Pte. Ltd., a technical services company, to provide local sales, application, and field service support for Photon Dynamics' flat panel display (FPD) products in Singapore. According to several industry and analysts reports, FPD manufacturing in Singapore is expected to begin in 2001 with investments by two of the largest FPD manufacturers. Photon Dynamics believes that the partnership with Aneric will further complement the company's Asian infrastructure and provide service and support to customers in Singapore. Photon Dynamics is a leading worldwide supplier of yield management solutions to the flat panel display, printed circuit board assembly and advanced semiconductor packaging industries. Aneric Enterprises was established in 1989 as a sales and services organization providing quality solutions to local and multinational semiconductor companies whose customers need spare parts and technical, manpower and process.
Physiometrix Announces First Shipment of Patient State Analyzer Physiometrix, Inc., (Nasdaq: PHYX), developer of the Patient State Analyzer (PSA), an anesthesia monitoring system that enables clinicians to assess and manage a patient's level of consciousness during surgery, delivered its first shipment of PSA 4000 monitors to its marketing partner, Baxter Healthcare Corporation. The PSA 4000 recently received clearance from the FDA. "This shipment of PSA 4000s is the next important stage in commercializing our product," said John A. Williams, president and CEO. "We plan to pursue rapid market penetration in the anesthesia monitoring market. Our continued goal is to make the PSA 4000 the standard of care in the anesthesia monitoring marketplace." Baxter's sales force is using this first shipment of units to secure orders for the PSA 4000, and initial feedback has been positive. The company hopes its partnership with Baxter will help Physiometrix build a backlog of orders. "Baxter's ability to create demand, combined with the clinical utility and ease-of-use of the PSA 4000, positions Physiometrix to capitalize on this growing market," Williams said. Each year, some 200,000 American patients wake up during their surgery in hospital operating rooms, and in certain cases complications arise from inappropriate delivery of anesthesia. Designed for use by anesthesiologists during surgery, the PSA is an early-warning device that enables the anesthesiologist to monitor and manage a patient's level of consciousness during surgery.
Valentis Announces Launch of GeneSwitch Web site Valentis, Inc., (Nasdaq: VLTS) has launched a Web site dedicated to promoting the scientific and therapeutic uses of the company's gene regulation technology known as the GeneSwitch. The site, www.geneswitch.com, is designed to be a central source for scientific information concerning the use of the GeneSwitch in all areas, including the regulation of genes in functional genomics studies, the regulation of transiently expressed proteins in cell biology experiments and its use as a regulator for clinical gene medicines. Valentis is currently developing the GeneSwitch for use in regulating therapeutic proteins administered by gene therapy. "The ability to confer tight regulation of gene expression using the GeneSwitch is an important safety feature for a number of gene medicines currently in development," said Benjamin F. McGraw III, president and CEO of Valentis. "The launch of the Web site enhances our strategy to make the GeneSwitch technology available to the research community in order to broaden the understanding of its utilities. In addition, we are also making the technology available for licensing by pharmaceutical companies interested in using the GeneSwitch in functional genomics studies, research applications, and gene-medicine approaches that we are not developing ourselves." The Web site contains descriptions of the molecular mechanisms underlying the function of the GeneSwitch, a bibliography of scientific publications reporting on the use of the GeneSwitch and information on patents covering the technology. Valentis develops proprietary technologies and applies its preclinical and early clinical development expertise to create novel therapeutics. The Company's core technologies include multiple gene delivery and gene expression systems.
Women.com Networks Sets New Records for Traffic, Audience Reach and Membership Women.com Networks, Inc., (Nasdaq: WOMN), a leading Internet destination for women, today announced that pageviews, network traffic and membership growth reached new highs in the second quarter of 2000. Total revenue for the quarter was $12.3 million, up 104% over the $6 million reported for the same period in 1999. Outpacing its own forecasts for the quarter, Women.com:
As part of its Majority 2000 initiative, Women.com is covering both the Republican and Democratic National Conventions this summer. A joint venture between Women.com and Good Housekeeping, Majority 2000 reports on the single most influential demographic in the American voting electorate -- women. Women have been the voting majority in every major U.S. election since 1964, and decided the 1996 presidential election with the largest gender gap in American history.
Technology Funding (including its directors, employees, and affiliates) is not responsible for the content available on any other Internet sites linked to this site. Access to any other Internet sites linked to this site is at the user's own risk.
|