INO, PMII, NXGH, CSKH, SYMW, XTNT Stocks to Watch for Thursday, July 30th from OTCPicks.com
Our Stocks to Watch tomorrow include Inovio Biomedical Corp. (Amex: INO), Power Medical Interventions Inc. (OTCBB: PMII), NXGen Holdings Inc. (OTC: NXGH), Clear Skies Solar Inc. (OTCBB: CSKH), SymPowerco Corp. (OTC: SYMW) and XTENT Inc. (Nasdaq: XTNT).
Visit http://www.otcpicks.com/microcap.htm to register for our Daily Market Mover's Digest Newsletter, and Email Stock Watch Alerts.
INOVIO BIOMEDICAL CORPORATION (AMEX: INO)
"Up 329.73% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/INO.php
Inovio Biomedical is engaged in the design, development, and delivery of a new generation of vaccines, called DNA vaccines, focused on cancers and infectious diseases. The company’s SynCon™ technology enables the design of DNA-based vaccines capable of providing cross-protection against new, unmatched strains of pathogens such as influenza. Inovio’s proprietary electroporation-based DNA vaccine delivery technology has been shown by initial human data to safely and significantly increase gene expression and immune responses. Inovio’s clinical programs include HPV/cervical cancer (therapeutic) and HIV vaccines. An
INO News:
July 29 - Inovio Biomedical Universal Influenza Vaccines Demonstrate 100% Protection Against Current Pandemic A/H1N1 Influenza Viruses in Animal Studies
Inovio Consensus DNA Vaccine Approach Demonstrates 100% Protection Against Unmatched Flu Virus Strains Currently in Circulation
Inovio Biomedical Corporation (NYSE Amex: INO), a leader in DNA vaccine design, development and delivery, announced today that the company's SynCon™ H1N1 influenza DNA vaccines achieved protection against current circulating swine origin influenza A/H1N1 viruses in animal studies.
The company had previously reported interim data from an ongoing study in a pig model in which the SynCon™ based H1N1 vaccines achieved hemagglutination inhibition (HI) titers above the protection threshold in 100% of the vaccinated animals against the swine influenza virus (A/Iowa/35233/1999). In a continuation of this study, Inovio investigators tested the immune sera for responses against a virus isolated from the current circulating strain of swine origin influenza A/H1N1 (Swine A/Mexico/InDRE4487/2009). All the animals immunized with the SynCon™ H1N1 vaccine developed HI titers exceeding the 1:40 level commonly associated with protective immunity.
In a second study, the investigators immunized mice with the NP and m2E components of the vaccine and challenged these animals with a second related strain also isolated from the current circulating influenza A/H1N1 (A/Canada/AB/RV1532/2009). While all mice showed effects of virus challenge as judged by significant weight loss, the vaccinated mice recovered from virus infection-induced morbidity significantly faster compared to the non-immunized control animals.
In a previous study, the Inovio team demonstrated that mice immunized with Inovio’s SynCon™ H1N1 DNA vaccine provided 100% protection in a lethal challenge study against an unmatched H1N1 virus that caused the 1918 Spanish flu, which killed over 40 million people worldwide.
The challenge of current seasonal influenza vaccines is they are not effective against new strains that emerge, like the present swine origin influenza A/H1N1. The CDC reported low human prevaccination response rates and cross-reactivity to swine origin influenza (A/California/04/2009), suggesting that current H1N1 seasonal flu vaccines were likely to be ineffective against the new 2009 A/H1N1 strains. Similarly, the USDA recently reported there was limited cross-reactivity against the new 2009 A/H1N1 virus in pig herds vaccinated with existing swine influenza vaccines.
Dr. J. Joseph Kim, Inovio’s CEO, said, “The latest data further underscores the potential of the SynCon™ technology to create vaccines capable of protecting against emerging pandemic influenza viruses. Our SynCon™ influenza vaccines were developed prior to the emergence of the current swine flu strains and have yielded strong protective responses in animal models against a variety of unmatched influenza strains. This is an advantage for our universal flu program over conventional influenza vaccines, which are strain-specific. Inovio, along with its collaborators, is amongst the first groups to report on the successful protection of vaccinated animals against a virus challenge with the 2009 influenza A/H1N1 virus. We are also one of the first groups to report on preclinical results regarding this virus using a large-animal model like pigs, a more natural host for the current influenza pandemic.”
Inovio’s novel SynCon™ technology enables the company to design DNA-based vaccines with the potential to protect against unmatched sub-types and strains of pathogens and provides the opportunity to have vaccines on hand against new strains that perpetually emerge, as in the case of influenza. Inovio has created SynCon™ DNA vaccines based on influenza HA, NA, and NP proteins from strains H1N1, H2N2, H3N2, and H5N1, which make up the majority of seasonal and pandemic influenza. Resulting vaccines could target seasonal as well as pandemic-potential influenza strains such as avian influenza and swine-origin flu, which has already been designated pandemic status. Significantly, being based on a common set of antigens derived from a broad range of flu strains, a universal vaccine would have the potential to provide greater protection against new, unmatched flu strains.
POWER MEDICAL INTERVENTIONS INCORPORATED (NASDAQ: PMII)
"Up 250.00% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/PMII.php
Power Medical Interventions®, Inc. is the world's only provider of computer-assisted, power-actuated surgical stapling products. PMI's Intelligent Surgical Instruments™ enable less invasive surgical techniques to benefit surgeons, patients, hospitals and healthcare networks. PMI manufactures durable recyclable technology to reduce medical waste and help keep the planet clean. The company was founded in 1999, and is headquartered in
PMII News:
July 29 - Covidien Announces Definitive Agreement to Acquire Power Medical Interventions, Inc.
Expands Portfolio of Solutions for Surgeons
Covidien (NYSE: COV), a leading global provider of healthcare products, today announced the Company has reached a definitive agreement to acquire Power Medical Interventions, Inc. (OTCBB: PMII), a provider of computer-assisted, power-actuated surgical cutting and stapling products.
Based in
PMI’s first powered stapling platform, the SurgAssist, was introduced in 2001 and has been used in more than 45,000 procedures globally. Over the last two years, the company has introduced wireless Intelligent Surgical Instruments™ that have the potential to revolutionize and expand minimally invasive surgery applications, as well as enable novel surgical procedures to benefit surgeons, patients, hospitals and healthcare networks. Covidien, which develops innovative technology for advanced surgical procedures, is a world leader in surgical stapling.
“By combining these technological assets with our global infrastructure, we will be delivering differentiated solutions to our customers,” said Scott Flora, President, Surgical Devices, Covidien. “As a pioneer in surgical stapling, we are committed to providing healthcare technology that enables advanced surgical techniques and improves patient outcomes.”
“We are excited to join Covidien’s Surgical Devices business unit and look forward to establishing a technology platform that will advance surgical stapling and instrumentation beyond the capabilities of existing manually operated devices,” said Michael Whitman, President and Chief Executive Officer, PMI.
Covidien does not anticipate this transaction will have a material impact on its fiscal 2009 sales or operating margin outlook. The transaction will be slightly dilutive in 2010, but the underlying strength of its existing businesses is expected to offset the dilution. Once the transaction has been completed, Covidien will report the PMI business as part of its Endomechanical product line in the Medical Devices segment.
ABOUT COVIDIEN
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries.
NXGEN HOLDINGS INCORPORATED (OTC: NXGH)
"Up 218.84% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/NXGH.php
NXGen Holdings, Inc., through its wholly owned subsidiary, Green Bridge Industries, Inc., offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military and retail markets. The Company, through its proprietary technology, has the ability to develop 100% all natural cleaning products, which are superior to the synthetic products currently offered in the marketplace. The Company's products are safe for the surfaces it cleans, the environment, animals and humans.
NXGH News:
July 29 - NXGen Holdings, Inc.'s
NXGen Holdings, Inc. (OTC: NXGH) announced that the Company's wholly owned subsidiary, Green Bridge Industries, Inc., has entered into a licensing agreement with SpongeTech® Delivery Systems, Inc. (OTCBB: SPNG), in which Green Bridge Industries has the exclusive nationwide rights to produce, market, and distribute the SpongeTech® Stain Remover Pens.
SpongeTech® has built a globally recognized brand over the last 2 years; advertising with major radio and television media outlets, including regional and national television commercials on major broadcast and cable networks. SpongeTech® also has agreements with 28 Major League Baseball teams advertising in stadiums across the country as well as other sporting events such as the Mike Ashley Racing and the National Hot Rod Association, World Football Challenge, and the Nautica NYC Triathlon.
SpongeTech® Delivery Systems, Inc. is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. SpongeTech® currently has a unique line of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. SpongeTech® also has a licensing agreement with Nickelodeon and Viacom to produce a SpongeBob Soap-Filled Children's Bath Sponges.
"The SpongeTech® Stain Remover Pen enables us to enter into another arena of cleaning products. The SpongeTech® brand is globally recognized and we will now begin expanding our revenue stream through licensing agreements with companies such as Green Bridge who can bring innovative products to the marketplace under our brand name," stated Steven Moskowitz, Chief Operating Officer of SpongeTech® Delivery Systems, Inc. "We look forward to a long and profitable relationship with Green Bridge Industries."
"We are pleased to be launching the new SpongeTech® Stain Remover Pen with our proprietary formula. SpongeTech® is a nationally recognized brand and is one of the fastest growing names in the household cleaning industry across the country and we are excited to market our product under the SpongeTech® name," stated William White, CEO of NXGen Holdings, Inc.
CLEAR SKIES SOLAR INCORPORATED (OTCBB: CSKH)
"Up 78.77% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/CSKH.php
Clear Skies Solar, Inc. designs, markets, sells, and installs solar power systems and renewable energy technology solutions for commercial and residential customers in the
CSKH News:
July 29 - Clear Skies Solar Issues Letter to Shareholders
Ezra Green, CEO of Clear Skies Solar, Inc. (OTCBB: CSKH), a leading provider of turnkey solar electricity installations and renewable energy solutions, issues the following letter to the company's shareholders:
Dear Fellow Shareholders:
Due to the stock market upheaval and credit drought of the past year, we would like to provide you with an update and perspective on the progress of Clear Skies Solar (CSS) to position itself as a successful, sustainable and dynamic solar energy provider.
Since the public launch of CSS in January 2008, we have been able to achieve the sales goals set forth in our business plan, with the exception of exceeding our sales targets for 2008. In July of 2008, CSS had a pipeline of commercial and utility scale projects of various sizes. Several of these projects were expected to close imminently, as written and verbal funding commitments had already been received.
Sales were approaching the $10 million mark in August of 2008, while active proposals exceeded $100 million at that time. Simultaneously, the credit markets started showing cracks in their foundation and the looming expiration of the federal Investment Tax Credit (ITC) began to give our funding partners concern.
Without a guaranteed ITC (a 30% federal tax credit), it would be difficult to receive investor funding on many projects. Due to this uncertainty regarding the ITC, all projects needed to be completed by December 31, 2008 or chance the forbearance of a tax credit equal to almost 1/3 of the project's cost. This risk made it nearly impossible to fund projects with expected completion dates approaching the end of 2008 or beyond.
The second problem was the complete freeze in capital for project financing and general financing for our clients. Without the availability of the credit markets, our clients had no way of closing on our contracts and CSS was no longer able to offer the Power Purchase Agreement (PPA) tool, which is a form of 3rd party financing that has driven the solar industry for years.
The issue of the ITC was resolved in October 2008 with the government voting to extend the incentive for 8 years, and now it appears that the credit markets are beginning to open up. CSS has weathered the worst of the storm and is reestablishing several financing vehicles from which our clients can choose from. Several projects are in the final stages of approval and we hope to start closing on them in the next several weeks, although there can be no assurance that this will happen. Unlike many companies that have been forced to file for bankruptcy or close their doors during these difficult times, we have been able to survive through a combination of cash reserves, liquidation of inventory and bridge financing.
By approaching the crisis organically whenever possible, CSS has been able to avoid the predatory or toxic lending that other firms have succumbed to, and more importantly, our doors have remained open and our pipeline has continued to develop domestically and abroad.
CSS has kept its management team intact and is now executing a new post-stock market crash business plan, which is more aggressive than the original outlook for the company.
We believe that we will become a larger and stronger entity, as we have several new strategic partnerships which we believe could establish us as a world class solar technology and integration company.
With renewed interest in solar energy, and an eagerness to take advantage of record low solar module prices, our clients are beginning to find life in the credit markets, and as previously stated, we hope to start closing on several contracts in the coming weeks.
We would like to reassure the investor community that we believe we are poised to gain substantial market share in the near future by delivering high quality solar projects throughout the expanding
SYMPOWERCO CORPORATION (OTC: SYMW)
"Up 55.56% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/SYMW.php
SymPowerco Corporation develops advanced fuel cell and power delivery systems for the rapidly growing personal transportation and portable power system markets being created by today's energy and environmental challenges.
SYMW News:
July 29 - SymPowerco Releases Details of Government Grant
SymPowerco Corporation (OTC: SYMW) CEO John Davenport revealed details of the terms of the recently announced government grant in support of the development of the company's unique Flowing Electrolyte Direct Methanol Fuel Cell ("FEDMFC"). Polygenic Power Systems, Inc. ("PPSI"), SymPowerco's majority-owned subsidiary, was recently informed by the Ontario Centres of Excellence ("OCE") that it was successful in its application for a grant from the OCE's Centre of Excellence for Energy.
The Centre of Excellence for Energy, a part of
The grant has been approved in support of the FEDMFC development project to be undertaken by the Department of Mechanical and Aerospace Engineering at
SymPowerco CEO, John Davenport, commented, "We at SymPowerco are very excited and pleased that the lengthy application process for this grant has been so successful. Our application went through an exhaustive process of evaluation and peer review. The peer reviews were conducted by academics from various universities and research organizations and by successful business people. They were all chosen by the Ontario Centres of Excellence and were all anonymous to SymPowerco. We believe this process and the grant funding is very confirming of the importance and viability of SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell technologies."
SymPowerco Corporation develops advanced fuel cell and power delivery systems for the rapidly growing personal transportation and portable power system markets. SymPowerco's soon-to-be majority-owned subsidiaries, HOSS Motor Sports and Highline Hydrogen Hybrids Systems, offer potentially expansive synergies and marketing opportunities with SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell and Hybrid Power System technologies.
XTENT INCORPORATED (NASDAQ: XTNT)
"Up 53.66% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/XTNT.php
XTENT, Inc. is a medical device company focused on developing and commercializing innovative customizable drug eluting stent (DES) systems for the treatment of coronary artery disease (CAD). CAD is the most common form of cardiovascular disease and the number one cause of death in the
XTNT News:
July 7 - XTENT, Inc. Announces That It Has Postponed the Special Meeting of Its Stockholders
XTENT, Inc. (Nasdaq: XTNT) announced that it has postponed its special meeting of stockholders which was scheduled to take place at 9:00 a.m. Pacific Time on Thursday, July 9, 2009. The meeting has been rescheduled for 9:00 a.m. Pacific Time on August 3, 2009.
On May 15, 2009, the Company announced that its board of directors had unanimously approved a Plan of Complete Liquidation and Dissolution of the Company (the "Plan of Dissolution"). On June 4, 2009, the Company announced that its board of directors had set July 9, 2009 as the date for a special meeting of the Company's stockholders at which the stockholders would vote on a proposal to approve the Plan of Dissolution.
Since May 15, 2009, members of the Company's management and its bankers, Piper Jaffray & Co., have contacted approximately 11 potential strategic buyers in an effort to secure an investment in or the acquisition of the Company. Eight of the 11 parties indicated that they are not interested in pursuing a transaction with the Company at this time. One of the 11 parties expressed interest in acquiring specific assets of the Company on terms that the Company believes would not maximize the value of the Company's assets. The Company's board of directors decided to postpone the special meeting of its stockholders in order to allow for further discussions with the other two parties.
The discussions with these two parties, and discussions we may have with any other parties, with respect to an alternative to liquidation and dissolution are or will be in the very early stages. We can provide no assurance that these discussions will result in agreement on the terms and conditions of a transaction with either of these two parties or any other party. Even if the terms and conditions of a transaction were agreed to, consummation of the transaction would be subject to one or more risks related to, among others, the due diligence efforts undertaken by either party, the ability to obtain adequate financing, the need for domestic and foreign regulatory approval and approval by the board and stockholders of each party.
OTCPicks.com is located at
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice.
OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. You are receiving this email because you have registered on OTCPicks.com or one of our affiliate companies.
The information contained in our report should be viewed as commercial advertisement and is not intended to be investment advice. The report is not provided to any particular individual with a view toward their individual circumstances. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
Our newsletter and website have been prepared for informational purposes only and are not intended to be used as a complete source of information on any particular company. An individual should never invest in the securities of any company profiled based solely on information contained in our reports. Individuals should assume that all information contained in the report about profiled companies is not trustworthy unless verified by their own independent research.
Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Always research your own investments and consult with a registered investment advisor or licensed stockbroker before investing.
Information contained in our report will contain "forward looking statements" as defined under Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Subscribers are cautioned not to place undue reliance upon these forward-looking statements. These forward-looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. You should consider these factors in evaluating the forward-looking statements included in the report and not place undue reliance upon such statements. We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company's plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company's operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related public information sources which we believe to be reliable but we cannot guarantee the accuracy of the information. To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.
Disclosure: OTCPicks.com has not been compensated by any of the companies covered in this release.
