VHC, BEHL, SNRR, FNXC, ANDS, EREI Stocks to Watch for Monday, August 3rd from OTCPicks.com
Our Stocks to Watch tomorrow include VirnetX Holding Corp. (Amex: VHC), Biocentric Energy Holdings Inc. (OTC: BEHL), Super Nova Resources, Inc. (OTC: SNRR), Fonix Corp. (OTCBB: FNXC), Anadys Pharmaceuticals Inc. (Nasdaq: ANDS) and Worldwide Food Services Inc. (OTC: EREI).
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VIRNETX HOLDING CORPORATION (AMEX: VHCI)
"Up 102.70% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/VHCI.php
VirnetX Holding Corporation, a secure real-time communications and collaboration technology company, is engaged in commercializing its patent portfolio by developing a licensing program, as well as developing software products designed to create a secure environment for real-time communications such as instant messaging and Voice over Internet Protocol. The Company's patent portfolio includes over 25
VHCI News:
July 31 - VirnetX Receives Markman Order in Patent Infringement Action Against Microsoft
VirnetX Optimistic, Views Ruling as Very Favorable
VirnetX Holding Corporation (Amex: VHC) announced that the United States District Court for the Eastern District of Texas, Tyler Division, issued its patent claim construction, or "Markman" Order ("Markman Order") in the ongoing patent infringement action between VirnetX Inc. ("VirnetX") and Microsoft Corporation ("Microsoft").
In a Markman ruling, a district court hearing a patent infringement case interprets and rules on the scope and meaning of disputed patent claim language regarding the patents in suit. A Markman decision is often a significant factor in the progress and outcome of patent infringement litigation.
In the recently issued Markman Order, the Court adopted interpretations that VirnetX believes are favorable to VirnetX on many of the claim terms that were in dispute in the litigation.
The litigation, which the company previously announced it had filed in February, 2007, involves Microsoft's development and marketing of certain of its products that the company believes infringe three patents owned by VirnetX.
"We are extremely pleased with the Court's Markman Order. We remain confident in our position concerning Microsoft's infringement of the patents at issue," said Kendall Larsen, VirnetX's chairman, president and CEO. "While the outcome of this and any legal matter is unpredictable, we believe the Court's Markman Order is another significant step towards the successful resolution of this litigation and further validates VirnetX's ongoing commitment to the enforcement of our intellectual property and protection of our investment in patent-protected licensing and research and development."
BIOCENTRIC ENERGY HOLDINGS INCORPORATED (OTC: BEHL)
"Up 36.99% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/BEHL.php
BioCentric Energy, Inc. is dedicated to the development of new technologies as well as acquiring and fostering companies with innovative technologies designed to provide unique and effective green energy solutions for the 21st century. Along with the cultivation of important relationships and partnerships with synergistic entities, BioCentric Energy has devoted substantial time and effort in research and development in order to bring a range of innovative green alternatives to the marketplace.
BEHL News:
July 31 - EmergingGreenCompanies.com Announces an Exclusive Interview With Mr. Dennis Fisher, CEO of Biocentric Energy Holdings Inc.
EmergingGreenCompanies.com today announced the airing of its exclusive three part interview with Mr. Dennis Fisher, CEO of Biocentric Energy Holdings, Inc. (OTC: BEHL).
During the three part interview Mr. Fisher answers several key questions including what he feels about being compared to Wal-Mart, and the uses of Algae in Asian markets.
The exclusive interview can be viewed by clicking on the following link to the Emerging Green Companies Media page:
http://emerginggreencompanies.com/home/?page_id=124.
SUPER NOVA RESOURCES (OTC: SNRR)
"Up 53.93% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/SNRR.php
Based in
SNRR News:
July 31 - Greenlink Interactive Soon to Announce Major Technology Partner Press Release
Shane Hodge, President of Greenlink Interactive, wholly owned subsidiary of Super Nova Resources, Inc. (OTC: SNRR), will soon announce the Company's LCD Screen technology partner for the Company's National PODS roll out program. Shane stated, "After months of testing we feel we are close to securing a Technology partnership with one of the world's leading brands of LCD Technology. We are excited as this Screen technology along with our own propriety Interactive solution will place Greenlink at the forefront of the Billion Dollar kiosk market. With Greenlink's PODS delivering High Definition live content, the quality of LCD screens and continued product excellence are a high priority of Greenlink and by partnering with a Global leader in screen technology we will maintain our market leading advantage."
FONIX CORPORATION (OTCBB: FNXC)
"Up 79.49% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/FNXC.php
Fonix Corporation, based in
FNXC News:
July 30 - Fonix iSpeak 1.4 Now Available for iPhone 3.0
Fonix Speech, Inc., a wholly owned subsidiary of Fonix® Corporation (OTCBB: FNXC) specializing in embedded speech interfaces for mobile devices, handheld electronic products, video game systems and processors, today debuted Fonix iSpeak™ 1.4 for the Apple iPhone™ 3.0 operating system.
Fonix iSpeak provides voice dial by name or number with highly accurate speech recognition software (especially in noisy environments) and voice confirmation using recorded speech together with text-to-speech. Fonix iSpeak allows for nearly hands-free use, no buttons to hold while speaking, and quick integration of names and numbers from your contact list.
“While the iPhone 3GS recently introduced its own voice-recognition function, Fonix iSpeak works with any model of the iPhone,” said Fonix CEO Roger Dudley. “iSpeak was designed to manage more contacts and deliver a higher level of professional quality voice control than other technologies on the market.”
Fonix iSpeak 1.4 includes the following new features and functions:
*Highly accurate when used in a vehicle. iSpeak is more accurate than the Voice Control software in the 3GS.
*Easily manages expanded number of contacts.
*Delivers professional quality voice prompts, improving the output sound.
*Compatible with Apple’s new and improved iPhone 3.0 audio functionality.
*After updating to the new iPhone 3.0 OS, current iSpeak users receive a free update to iSpeak 1.4 (the Voice Control software on the new iPhone 3GS is not available for 2G and 3G phones).
*iPhone 2G, 3G and 3GS users wanting the benefits of Fonix iSpeak may purchase iSpeak 1.4 through the Apple AppStore.
Fonix iSpeak runs on the device, eliminating time delays by processing the speech signal through an off-site server. The program does not record names and numbers on a public server, nor requires holding buttons on the iPhone when in use.
Fonix iSpeak can be purchased for US$2.99 through the Apple iTunes App Store™ in the Productivity and/or Utilities category (www.apple.com). Fonix iSpeak is available for 2G, 3G and 3GS models with iPhone OS 3.0. For more information go to www.fonixspeech.com or call (801) 553-6600 and say “iSpeak support” or “sales” for demos, availability and pricing.
ANADYS PHARMACEUTICALS INCORPORATED (NASDAQ: ANDS)
"Up 44.44% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/ANDS.php
Anadys Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C. The Company believes hepatitis C represents a large unmet medical need in which meaningful improvements in treatment outcomes may be attainable with the introduction of new medicines. The Company is developing ANA598, a non-nucleoside polymerase inhibitor for the treatment of hepatitis C. The Company has also investigated the potential of ANA773, an oral, small-molecule inducer of endogenous interferons that acts via the Toll-like receptor 7, or TLR7, pathway in hepatitis C.
ANDS News:
July 30 - Anadys Pharmaceuticals Reports Second Quarter 2009 Financial Results and Program Highlights
Cash Reserves Augmented with Recently Completed Financing Expected to Fund Operations into 2011
Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS), a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C, today reported its financial results and program highlights for the second quarter ended June 30, 2009.
"With our enhanced cash position, reduced cost structure and Phase II protocol allowance from the FDA, we are well positioned to continue advancing the development of ANA598 as a treatment for chronic hepatitis C," said Steve Worland, Ph.D., President and CEO of Anadys. "ANA598 has demonstrated potent antiviral activity and good tolerability in Phase I, as well as preclinical properties indicative of likely synergy when used clinically in combination regimens. The upcoming Phase II trial has several important elements, including twelve weeks of ANA598 combination treatment and a randomized exploration of shortening the overall duration of HCV therapy in conjunction with ANA598 treatment. We look forward to receiving the first data from this trial by year-end 2009 and additional data in the first half of 2010."
Financial Results
As of June 30, 2009, the Company's cash, cash equivalents and securities available-for-sale totaled $30.6 million compared to $27.9 million as of December 31, 2008. The increase in cash, cash equivalents and securities available-for-sale is the result of proceeds received from a "registered direct" offering of common stock and warrants in early June 2009, partially offset by the year-to-date cash utilization.
Research and development expenses were $4.6 million for the second quarter of 2009, compared to $5.5 million for the second quarter of 2008. The $0.9 million decrease was primarily attributable to a $1.3 million decrease in ANA773 development costs partially offset by $0.5 million in severance costs recorded in conjunction with the strategic restructuring initiated in June 2009. ANA773 development costs during the second quarter of 2009 were primarily driven by the ongoing Phase I clinical trial for the treatment of hepatitis C. During the second quarter of 2008, ANA773 development costs were primarily driven by the now completed 13-week GLP animal toxicology studies and the Phase I oncology clinical trial. The ANA598 development costs during the second quarter of 2009 were primarily associated with the 14-day healthy volunteer study and the ongoing long-term chronic toxicology studies which were initiated in September 2008.
General and administrative expenses were $2.5 million for the second quarter of 2009, compared to $2.0 million for the second quarter of 2008. The $0.5 million increase primarily resulted from severance costs recorded in conjunction with the strategic restructuring initiated in June 2009.
Operating expenses were $7.2 million for the second quarter of 2009, compared to $7.5 million for the second quarter of 2008. Included as a component of Anadys' operating expenses were non-cash, share-based expenses of $1.1 million and $0.7 million for the second quarter of 2009 and 2008, respectively.
The net loss was $6.5 million for the second quarter of 2009, compared to a net loss of $7.1 million for the second quarter of 2008. Included in the net loss for the second quarter of 2009 is a $0.4 million gain resulting from a reduction between issuance and June 30, 2009 in the liability associated with common stock warrants issued in conjunction with the "registered direct" financing. Basic and diluted net loss per common share was $0.21 in the second quarter of 2009, compared to $0.25 in the second quarter of 2008. Non-cash share-based expense resulted in a $0.03 and $0.02 increase in basic and diluted net loss per share for the second quarter of 2009 and 2008, respectively.
For the six months ended June 30, 2009, Anadys reported a net loss of $15.3 million, compared to $14.5 million for the same period last year. Basic and diluted net loss per common share was $0.51 for the six months ended June 30, 2009 and 2008.
Operational Highlights
* Closed Registered Direct Financing. In early June, Anadys closed a "registered direct" offering through the sale of units to institutional investors, with each unit consisting of one share of common stock and a warrant to purchase 0.35 of a share of common stock. $17.5 million in gross proceeds were raised, with net proceeds of approximately $16.0 million, after deducting placement agent fees and estimated offering expenses. Proceeds from the transaction are being used to further the development of ANA598, as well as for other general corporate purposes.
* Future Operations to Focus on Development of ANA598. In June, Anadys initiated a strategic restructuring to focus its operations on the continued development of ANA598, in particular a Phase II study in combination with pegylated interferon-alpha and ribavirin. The restructuring included a reduction in Anadys' workforce expected to generate annual savings of $4 to $5 million, while retaining the clinical development infrastructure required to conduct the Phase II study of ANA598, key capabilities directed toward pharmaceutical development and next generation non-nucleosides, and a streamlined administrative staff. Also included in the restructuring is an expected reduction in annual facility expense of approximately $1.8M associated with our completed move to a smaller facility.
Development Program Highlights
ANA598 is the Company's non-nucleoside HCV polymerase inhibitor.
* Finalization of ANA598 Phase II Protocol. Anadys has finalized its protocol and received FDA clearance for the Phase II study of ANA598 in combination with pegylated interferon-alpha and ribavirin for the treatment of chronic hepatitis C. In the Phase II study, naive genotype 1 patients will receive ANA598 or placebo in combination with Pegasys® (peginterferon alfa-2a) and Copegus® (ribavirin, USP) (a current standard of care, or SOC) for 12 weeks at dose levels of 200 mg or 400 mg twice daily (bid), each with a loading dose of 800 mg bid on day one. After week 12, patients will continue to receive SOC alone. Patients who have undetectable levels of virus at weeks 4 and 12 will be randomized to stop all treatment at either week 24 or 48. The primary endpoint of the study is the proportion of patients who achieve undetectable levels of virus at week 12 (complete Early Virological Response or cEVR). Response at week 4 will also be assessed to provide the rate of Rapid Virological Response, or RVR. Patients will be followed for 24 weeks after stopping therapy to determine the rate of Sustained Virological Response, or SVR. Ninety patients are planned to be enrolled in this study - thirty patients receiving ANA598 and fifteen receiving placebo at each dose level. The study will be conducted at a number of clinical sites in the
* Reported Potent Antiviral Activity/Good Tolerability in HCV at EASL. In April 2009, data demonstrating potent antiviral activity and good tolerability of ANA598 as a single agent at all dose levels in a Phase Ib study in HCV patients were reported at the EASL conference. The median viral load reduction over three days ranged from 2.4 to 2.9 log10 in the three dose groups studied. No patient at any dose level showed evidence of viral rebound while on ANA598 and there were no serious adverse events.
* Reported 14-day Healthy Volunteer Study Results. In April 2009, Anadys reported results from a 14-day study of ANA598 in healthy volunteers. ANA598 was generally well-tolerated in all cohorts in the study with no serious adverse events. Three instances of mild-to-moderate rash were observed at the higher dose levels. Pharmacokinetic results from this trial confirmed the plasma half-life of ANA598 of approximately 24 hours, and demonstrated that steady-state levels of ANA598 in plasma are reached after six to seven days of dosing.
* Dosing Completed in Long-Term Chronic Toxicology Studies. The dosing period is completed in two long-term, chronic toxicology studies of ANA598 (26 weeks duration in rats and 39 weeks duration in monkeys). At the 13-week interim, the toxicology profile of ANA598 in both species was very favorable. While 39-week data from the monkey study is not yet available, a preliminary assessment of the results from the 26-week study in rats indicates a similar profile to that seen in rats at 13 weeks, in which the only adverse finding was a marginal decrease in the rate of weight gain in females at 1000 mg/kg, the highest dose tested. Complete results from both studies are expected at the end of the third quarter 2009.
ANA773 is the Company's oral inducer of endogenous interferons that acts via the toll like receptor 7 (TLR7) pathway.
* Phase I Clinical Trial in HCV. Nine patients have completed dosing at 2000 mg in the Company's trial of ANA773 in HCV patients, and the final patient is currently being dosed. During the second quarter the Company reported evidence of viral load reduction in a majority of patients who received ANA773 at 1600 mg. Anadys expects to present further results from this study later this year and intends to explore
* Reported PK/PD Data for ANA773 in HCV at EASL. In April 2009, the pharmacokinetic (PK) and pharmacodynamic (PD) data from the healthy volunteer portion of the Phase I clinical trial of ANA773 in HCV were reported at the EASL conference. ANA773 was generally well tolerated with no serious adverse events. Plasma drug levels were proportional to dose, and there was a dose-dependent induction of well-recognized interferon dependent biomarkers.
* Phase I Clinical Trial in Oncology. In order to focus its resources on ANA598, Anadys recently elected to stop enrollment of new patients in the ongoing Phase I oncology trial of ANA773. Anadys plans for currently enrolled patients to continue to receive ANA773 until disease progression is observed and to conclude the trial once all patients reach this point.
WORLDWIDE FOOD SERVICES INCORPORATED (OTC: EREI)
"Up 47.06% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/EREI.php
Worldwide Food Services has established an international marketing and distribution system for food and beverage products in a global economy. The company was formerly known as Eagle Rock Enterprises, Inc.
EREI News:
July 30 - Worldwide Food Services Signs Joint Venture Agreement
Worldwide Food Services Inc. (OTC: EREI) (WWFS) has signed a Joint Venture Agreement with Rainbow Foods.
Under the terms of the Agreement, Rainbow Foods agrees to oversee all procurement of products, assembly, warehousing, packing, storage and distribution of the Emergency Food Kits for the Department of Defense and for FEMA, named in the BOA ordering agreement, for Rastelli Global and contracted exclusively to Worldwide Food Services, Inc.
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