NVSR, ALRX, ACCP, OPSY, SNRY, BNVI, WNC, KERX, ANPI, SAY, YRCW Daily Market Movers Digest Midday Report for Tuesday, August 4th from OTCPicks.com

NVSR, ALRX, ACCP, OPSY, SNRY, BNVI, WNC, KERX, ANPI, SAY, YRCW Daily Market Movers Digest Midday Report for Tuesday, August 4^th from OTCPicks.com

 

Our Stocks to Watch today include NavStar Technologies Inc. (OTC: NVSR), AlphaRx Inc. (OTCBB: ALRX), Access Pharmaceuticals Inc. (OTCBB: ACCP), Optical Systems Inc. (OTC: OPSY), Solar Energy Initiatives Inc. (OTCBB: SNRY), Bionovo Inc. (Nasdaq: BNVI), Wabash National Corp. (NYSE: WNC), Keryx Biopharmaceuticals Inc. (Nasdaq: KERX), Angiotech Pharmaceuticals Inc. (Nasdaq: ANPI), Mahindra Satyam (NYSE: SAY) and YRC Worldwide Inc. (Nasdaq: YRCW).

 

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NAVSTAR TECHNOLOGIES INCORPORATED (OTC: NVSR)

"Up as much as 52% in morning trading; sixth consecutive day of double-digit gains"

 

Detailed Quote: http://www.otcpicks.com/quotes/NVSR.php 

 

Company Profile: http://www.otcpicks.com/navstar-technologies/navstar-technologies.htm

 

NavStar is focused on the creation of GPS products and services that provide wireless tracking of vehicles, equipment, and other valuable and personal assets. The goal is to be a total solutions provider.

 

NVSR News:

 

August 4 - NavStar Announces Initial Inquiry From Investors to Sell and Distribute Products in Korea Which Could Represent $15M in Revenue

 

NavStar Technologies, Inc. (OTC: NVSR) (www.navstarinc.com), a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo, today announced a series of meetings this week with a group of investors to sell and distribute products and services in Korea.

 

The discussions will range from a possible joint venture to sell and distribute and could include manufacturing to a straight multi-year distribution and sales agreement. Whatever form the agreement takes, it will combine NavStar's product development and GPS/wireless knowledge with the Korean investors'/partners' in-country experience and extensive business connections. The agreement for hardware and services should be in the $15M range for fiscal years 2010 and 2011.

 

"We have been working on this relationship for the past 3 months and are pleased that the investors are making a trip to the US to accelerate the process and are determined to reach agreement on the deal structure," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc. "The potential Korean investors have an extensive distribution capacity and a range of contacts in Korea that would take us years to duplicate. The early conversations have been centered around the purchase of a minimum of 10,000 units every 12 months."

 

ALPHARX INCORPORATED (OTCBB: ALRX)

"Up 3.33% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/ALRX.php 

 

Company Profile: http://www.otcpicks.com/alpharx/alpharx.htm

 

AlphaRx is a specialty pharmaceutical company dedicated to developing proven therapies by reformulating FDA approved and marketed drugs which through the application of its proprietary site-specific nano drug delivery technology, offers improved medical benefits and a potential for significant commercial product development.

 

ALRX News:

 

August 4 - AlphaRx and Venturepharm Announce Collaboration Agreement

 

AlphaRx Inc. (OTCBB: ALRX), an emerging biopharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs, announced that the Company has entered into a collaboration agreement with Venturepharm Group (the "Venturepharm") to establish a drug development center in China Medical City, Taizhou, China that is expected to be used as a platform for the development of innovative drug products for the fast growing China pharmaceutical market. The goal of this is to enhance the Company's research capabilities, expedite the development of new products as well as to expand the Company's product range.

 

Under the terms of the agreement, AlphaRx will incorporate its China R D facility into Venturepharm's state of the art pre-clinical development complex which comprises of a 200,000 sq. ft. chemistry center, a 200,000 sq. ft. multi-product pilot plant to support pilot scale formulation and Clinical Trial Material (CTM) manufacture of biopharmaceutical products and a 500,000 sq. ft. (Asia's largest) animal testing center (under construction). The in-house pharmaceutical research facilities provide specialized equipment for most aspects of drug research and development. AlphaRx will be responsible for all of its own product development costs and will in turn retain the intellectual property rights relating to any developed products.

 

Michael Lee, President of AlphaRx, said: "Venturepharm provides the equipment and physical infrastructure to further establish our presence in China and reduces our start up investment costs. As AlphaRx continues to build its presence in China, this collaboration with Venturepharm marks an important step in our overall strategy to commercialize current products and to develop new therapeutics for the world fastest growing pharmaceutical market."

 

ABOUT VENTUREPHARM GROUP

 

Venturepharm Group is an Asia based life science leader that provides world-class, innovative, affordable and integrated service in CRO, CMO and CSO, as well as venture capital, merchant banking for the biotechnological and pharmaceutical industry. Venturepharm also engages in compound licensing, compound partnering and royalty sharing with its clients to expand the market of their products. Venturepharm conducts its business in China as well as global top five markets. The group now operates eight distinct business units with over 2500 employees worldwide.

 

ACCESS PHARMACEUTICALS INCORPORATED (OTCBB: ACCP)

 

Detailed Quote: http://www.otcpicks.com/quotes/ACCP.php 

 

Company Profile: http://www.otcpicks.com/access-pharmaceuticals/access-pharmaceuticals.htm 

 

Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes propriety products for the treatment and supportive care of cancer patients. Access' products include ProLindac™, currently in Phase 2 clinical testing of patients with ovarian cancer, and MuGard™ for the management of patients with mucositis. The company also has other advanced drug delivery technologies including Cobalamin™-mediated targeted delivery and oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism; Angiolix®, a humanized monoclonal antibody which acts as an anti-angiogenesis factor and is targeted to breast cancer; and Thiarabine, a new generation nucleoside analog which has demonstrated both pre-clinical and clinical activity in certain cancers.

 

ACCP News:

 

August 3 - Access Pharmaceuticals Provides Update on ProLindac Clinical Development Program

 

Enrolling Ovarian Cancer Patients in France; Finalizing Clinical Trial Programs with Partners in China and Korea

 

Access Pharmaceuticals, Inc. (OTCBB: ACCP), provided an update on its clinical development strategy for ProLindac, a novel DACH platinum drug that has shown to be active in many solid tumors in human clinical studies. Access has commenced a new clinical study of ProLindac in France. The study will examine dose levels and regimens of ProLindac monotherapy in cancer patients, provide additional data to support design of combinations studies, and extend the safety database. Two ovarian cancer patients have been enrolled in the study to date, and it is anticipated 6 to 12 patients will be enrolled this year in advance of enrolling patients in trial evaluating ProLindac in combination with other chemotherapies. Access recently announced data from a recurrent ovarian cancer trial that showed that ProLindac was more active than currently available platinum drugs in that patient population, and that the drug was very well tolerated.

 

ProLindac is a novel DACH platinum drug that has shown to be active in many solid tumors in human clinical studies. Platinum drugs are one of the most clinically and commercially successful class of chemotherapies and generated more than $3 billion in revenue globally in 2008. Access believes that ProLindac, as a well-tolerated and active DACH platinum, represents a important improvement in the design and tolerability of platinum chemotherapies.

 

Later this month, an Access management and clinical development team is meeting with Access' partner, Aosaikang Medicinal Group (ASK) and several key oncology opinion leaders to finalize plans for ProLindac development in China. In addition, Access is meeting with its Korean partner, JCOM of Seoul, South Korea to finalize development plans in that territory. Access believes that three ProLindac combination trials will start shortly upon regulatory approvals of protocols in both China and Korea. Further, Access has reported receipt of additional milestone payments from its Far East partners in the ordinary course under their collaborative agreements.

 

"Our Chinese partner, ASK, has made great progress on manufacturing scale-up of ProLindac and advancing the Regulatory process with the SFDA. We are excited about finalizing protocols with ASK and the leading oncologists in China, and look forward to their continued progress," stated Jeffrey B. Davis, Access' President and CEO. "Additionally, we are meeting this month with JCOM and key opinion leaders in Korea, and hope to get the combination trials started in Korea as soon as reasonably possible."

 

Access intends to design all clinical studies of ProLindac in accordance with FDA standards and intends to use the clinical data from all three planned clinical trials in the Far East to further development in North America and Europe. Access has the right to all clinical data generated in the Far East under the agreements entered into with their Far East partners, and as previously announced, believes that these trials run by its ProLindac partners will save Access between $20 and $30 million in clinical development expenses.

 

Access is currently in discussion with potential partners for development and commercialization of ProLindac in additional territories.

 

ABOUT PROLINDAC™

 

ProLindac is a novel DACH platinum prodrug which has been shown to be active in a wide variety of solid tumors in both preclinical models and in human trials. Access believes that ProLindac's unique molecular design potentially could eliminate some of the toxic side effects seen in the currently marketed DACH platinum, Eloxatin, which has sales in excess of $2 billion. Access has previously announced that it has licensed ProLindac to Aosaikang Medicinal Group ("ASK") for the Greater China Region and to JCOM, Ltd for South Korea. Under these agreements both of these partners will be conducting Phase 2 combination studies with ProLindac in specific tumor types at their expense based on these results.

 

OPTICAL SYSTEMS INCORPORATED (OTC: OPSY)

 

Detailed Quote: http://www.otcpicks.com/quotes/OPSY.php 

 

Company Profile: http://www.otcpicks.com/optical-systems/optical-systems.htm

 

Optical Systems, Inc., through its operating subsidiary, Automotive Software Designers, Inc., develops technology and services for the automotive retail industry designed to maximize productivity and increase profits at auto dealerships. ASDI's flagship technology solution, Save-a-Deal, is a turnkey customer relationship management (CRM) tool for auto dealerships. Our business development center (BDC) provides a variety of services designed to help auto dealerships drive traffic to their showroom or Web site, retain customers and generate new streams of revenue.

 

OPSY News:

 

July 29 - Optical Systems, Inc. Launches Cutting-Edge GPS System for Auto Dealerships More Robust Than LoJack

 

Optical Systems, Inc. (OTC: OPSY), a leading provider of software and services for the automotive retail industry today announced the launch of Save-a-Car GPS, a cost-effective, global positioning system for auto dealerships to monitor and track inventory.

 

"Save-a-Car is a low-cost, robust tracking system that represents a huge market opportunity for our company," said B.J. Grisaffi, CEO of Optical Systems, Inc. "There has been a lot of enthusiasm, excitement and positive feedback about Save-a-Car from dealerships. In today's market, dealers need scalable products that have a solid return on investment. Save-a-Car is a state-of-the art GPS system that helps dealers track inventory and maximize profit potential like never before. This small, covert system can be sold to the customer as a theft and tracking device that is much more robust than LoJack and available with no monthly fee. Our system works nationwide, where LoJack only works in certain areas," said Grisaffi.

 

In addition to offering superior tracking capabilities, Save-a-Car also allows drivers to save up to 35 percent on their insurance premium when installed.

 

Growing usage in automotive and consumer applications is propelling the mobile location technologies market, which is forecasted to grow at a CAGR of more than 20 percent to cross US$ 75 Billion by 2013, says "World GPS Market Forecast to 2013," a new market research report by RNCOS.

 

"We already have more than 30 dealerships enrolled in our Save-a-Deal and Business Development Center programs," said Grisaffi. "Save-a-Car is a complimentary and standalone product that can easily be integrated into our existing programs. We are optimistic that we will be able to leverage our existing customer base and generate sales for this new, exciting product and bring substantial revenue to Optical."

 

Save-a-Car is currently available through the Company's operating subsidiary, Automotive Software Designers.

 

SOLAR ENERGY INITIATIVES INCORPORATED (OTC BB: SNRY)

 

Detailed Quote: http://www.otcpicks.com/quotes/SNRY.php 

 

Company Profile: http://www.otcpicks.com/solar-energy-initiatives.htm

 

Solar Energy Initiatives, Inc. (www.SolarEnergy.com) is executing its “RENEW THE NATION” campaign, intended to promote job growth nationwide via an aggressive grass roots effort. The main focus of RENEW THE NATION will be working with companies in the construction industry and related trades affected by the economic downturn to re-train and re-deploy their workforce, allowing this important national asset to meet the needs of the Solar Energy industry, the fastest growing industry in the world. We are executing on a three-pronged approach to achieve our plan. This includes: continuing development of one of the fastest growing dealer networks in the U.S. that sells and installs solar solutions to homeowners and commercial customers; placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s); and becoming a developer of solar parks bringing together landowners, utilities and our corporate resources to build large photovoltaic installations. The Company’s dealer network of solar energy installers has access to Suntech Power Holdings Co., Ltd. (NYSE: STP), BP Solar (NYSE: BP) and GE Solar (NYSE: GE) equipment via its distribution agreements. While Solar Energy Initiatives is not a solar franchise, and the Company does not compete directly with industry giants such as First Solar (Nasdaq: FSLR), Kyocera (NYSE: KYO) or Sanyo (OTC: SANYY), as a system integrator, it provides exciting and practical solutions to businesses and individuals worldwide that understand the value of solar power.

 

SNRY News:

 

August 4 - Solar Energy Initiatives Announces Revenue Guidance of $2.6 Million for Fourth Quarter 2009

 

Cash Flow Positive from Operations Expected

 

Solar Energy Initiatives, Inc. (OTCBB: SNRY), executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced that the Company expects to report revenues of $2.6 million for the fourth quarter 2009 and recognize positive cash flow from operations.

 

"Management is extremely pleased with the business momentum that the Company has achieved," stated David Fann, Chief Executive Officer of Solar Energy Initiatives. "Solar Energy Initiatives has successfully increased revenue, achieved cash flow positive status, and established a strong organic revenue foundation for which new contracts will be leveraged. We believe that we will continue to see sustained growth throughout our 2010 fiscal year.”

 

Operational Highlights

 

Solar Energy Initiatives, Inc. signed a contract securing land for the design, construction and operation of a 300 Megawatt solar park in west Texas. Solar Energy Initiatives will sell the solar panels and balance of system to the LLC, generating as much as $750 million in revenue over a 6 year time period. During the first year of development, the project will potentially generate over $100 million in sales. The revenue approximation is solely based on the sale of the solar panels and does not account for the sale of generated electricity.

 

The Company also announced that it has secured federal stimulus funding to train displaced workers as solar energy installation and maintenance technicians. The funding is being provided by the American Recovery and Reinvestment Act of 2009, which was signed into law February 2009, by President Obama. Solar Energy Initiatives is currently in discussions regarding three additional grants.

 

Thirdly, Solar Energy Initiatives formed the Green Energy Alliance, a strategic affiliation with RS&H, one of the nation’s leading facilities and infrastructure consulting/engineering firms, and K-Power Inc., a provider of full service solar energy solutions to commercial and industrial users. The Green Energy Alliance will combine member areas of expertise providing turn-key solar solutions including project financing to commercial and solar park projects located in North America and the Caribbean.

 

Mr. Fann continued, “Solar Energy Initiatives is thrilled with the recent milestones that we have achieved, especially in our first year of operation. The Company’s recent accomplishments have allowed us to establish our reputation as a legitimate market leader within the rapidly growing solar energy sector. The Company is currently targeting additional municipal contracts, larger solar park projects and expanding our core dealer network. Management believes that these endeavors will lead to increased earnings and improved shareholder value.”

 

BIONOVO INCORPORATED (NASDAQ: BNVI)

"Up 82.75% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/BNVI.php 

 

Bionovo is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The company applies its expertise in the biology of menopause and cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates within their rich pipeline with the potential to be leaders in their markets.

 

BNVI News:

 

August 3 - Bionovo Presents Positive Results from Phase 1B Trial of Bezielle for Metastatic Breast Cancer

 

Bionovo Presents Positive Results from Phase 1B Trial of Bezielle for Metastatic Breast Cancer

 

Bionovo, Inc. (Nasdaq: BNVI) announced positive results from the Phase 1B clinical trial of Bezielle (formerly BZL101), their lead drug candidate for advanced breast cancer. In the trial, Bezielle showed an excellent safety and tolerability profile, and also showed promising indications of efficacy in a difficult-to-treat population.

 

The Phase 1B clinical trial was conducted at eight US clinical sites under the directorship of Dr. Charles Shapiro, Professor of Medicine and Director of Breast Oncology at Ohio State University. The primary objective of the study was to identify the maximum tolerated dose of Bezielle and to determine the safety, feasibility and preliminary efficacy of the Company's novel, oral, anticancer therapy. A total of twenty-seven women with metastatic breast cancer were enrolled to the Phase 1B trial.

 

To date, 48 women with advanced breast cancer have been successfully treated with Bezielle in two early clinical trials. In a previous Phase 1A study, Bezielle demonstrated very limited toxicity with a favorable tolerability profile and encouraging clinical activity among a cohort of patients with metastatic breast cancer who had been heavily pretreated with anticancer therapies. Results from this second Phase 1B study provide further support that Bezielle is safe and well-tolerated, with early signs of clinical efficacy.

 

Safety Analysis

 

In comparison to other oral cytotoxic agents, Bezielle was extremely safe and well tolerated. No drug-related deaths or serious adverse events occurred during the study, and 94% of all drug-related adverse events were classified as grade 1 and 2 side effects per the National Cancer Institute Common Terminology Criteria for Adverse Events. The most common adverse events associated with Bezielle were grade 1 and 2 gastrointestinal side effects, accounting for 56% of all drug-related adverse events.

 

Efficacy Analysis

 

Sixteen of the twenty-seven participants in the Phase 1B clinical trial were evaluable according to the Response Evaluation Criteria in Solid Tumors (RECIST). Of these sixteen evaluable women, five (31%) were stable on Bezielle for greater than 90 days and two (13%) were stable on Bezielle for greater than 180 days. Three patients (19%) on Bezielle had objective tumor regression, as evaluated by an independent radiology review.

 

Four patients discontinued from the study with stable disease, and of these four patients, one patient had objective tumor regression during 449 days of Bezielle treatment and continues to be stable off of study medication for a total of 600 days. A second patient who discontinued Bezielle treatment with stable disease continues to be stable for 832 days and has not started any new anticancer treatment. A third patient who discontinued with stable disease was stable for 591 days before evidence of progression. Further analyses on overall survival and progression-free survival will be performed.

 

Dose Escalation and Compliance

 

Overall compliance with study medication was excellent with 90% of prescribed doses taken. A maximum tolerated dose, as defined in study protocol, was never established despite dose escalation reaching a dose that was four times (40g/day) the previously evaluated Phase 1A dose.

 

"We are eager to advance Bezielle to Phase 2 clinical testing as the drug continues to have an improved safety profile over currently available chemotherapeutic agents, and shows encouraging clinical activity in a cohort of women who have been heavily pretreated for metastatic breast cancer," said Dr. Mary Tagliaferri, President and Chief Medical Officer, Bionovo.

 

"We are encouraged by the results of the Company's second Phase 1 trial in women with advanced breast cancer," said Isaac Cohen, Chairman and CEO of Bionovo. "Despite improvements in currently available breast cancer therapies, the five-year survival rate of women who develop metastatic disease is still only 27%. Many of these therapies cause women with advanced breast cancer additional discomfort through severe side effects resulting in a poor quality of life at the end of life. There are currently over 160,000 women in the United States living with advanced breast cancer who are eagerly awaiting an oral anticancer drug with minimal side effects that can extend life without profoundly diminishing their quality of life. We are aiming to improve the extract formulation so we can further improve on the gastrointestinal symptoms associated with Bezielle treatment. We believe Bezielle may be an important new anticancer agent because its biological selectivity allows it to kill cancer cells without affecting normal cells. This also leads to a dramatically lower side effect profile."

 

Bezielle

 

Bezielle is an oral drug designed for the treatment of advanced breast cancer with a novel mechanism of action. Bezielle targets diseased cells while leaving normal cells healthy and intact. Normal cells depend primarily on the citric acid cycle (>85%) and very little on glycolysis (<7%) for energy production. Cancer cells depend largely on glycolysis (>85%) for energy production. Bezielle induces greater production of reactive oxygen species in cancer cells. This results in high levels of DNA damage and the hyperactivation of PARP. The resulting depletion of NAD and ATP (PARP substrates), results in the inhibition of glycolysis, energetic collapse, and programmed necrosis.

 

There are currently no effective therapeutic cures for advanced breast cancer and treatment is primarily aimed at palliation of symptoms as well as improving overall survival. Over 192,000 women in the United States are diagnosed with breast cancer each year and breast cancer is the second leading cause of cancer death in women. Although survival after breast cancer treatment is improving, there are still over 40,000 deaths per year due to the disease in the Unites States alone.

 

WABASH NATIONAL CORPORATION (NYSE: WNC)

"Up 44.36% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/WNC.php 

 

Headquartered in Lafayette, Ind., Wabash National® Corporation (NYSE:WNC - News) is one of the leading manufacturers of semi trailers in North America. Established in 1985, the Company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, dump trailers, truck bodies and intermodal equipment. Its innovative core products are sold under the DuraPlate®, ArcticLite®, FreightPro(TM) Eagle® and Benson(TM) brand names. The Company operates two wholly-owned subsidiaries: Transcraft® Corporation, a manufacturer of flatbed, drop deck, dump trailers and truck bodies; and Wabash National Trailer Centers, trailer service centers and retail distributors of new and used trailers and aftermarket parts throughout the U.S.

 

WNC News:

 

August 3 - Wabash National Corporation Closes Investment for $35 Million Capital Infusion

 

Wabash National Corporation (NYSE: WNC) announced that it has successfully closed the previously announced $35 million investment in the Company by Trailer Investments, LLC, an entity formed for this purpose by Lincolnshire Equity Fund III, L.P., a private equity investment fund managed by Lincolnshire Management, Inc. As part of the investment, the Company issued Series E, Series F, and Series G redeemable preferred stock to Trailer Investments, as well as a warrant that is immediately exercisable for common stock representing 44.21% of the issued and outstanding common stock of the Company, subject to certain upward adjustments.

 

An Amended and Restated Loan and Security Agreement, which amended and restated the Company's prior revolving credit facility, also became effective upon the completion of the investment. The revolving credit facility, as amended, now provides for borrowings of up to $100 million, subject to a borrowing base and applicable reserves.

 

In connection with the proposed investment, the Company increased the size of its board of directors to twelve members and appointed the following designees of Trailer Investments: Thomas J. Maloney, Michael J. Lyons, Vineet Pruthi, James G. Binch, and Andrew C. Boynton. Messrs. Maloney, Lyons, Pruthi and Binch are principals of Lincolnshire Management, and Mr. Boynton is the dean of Boston College's Carroll School of Management.

 

"We are excited to welcome Trailer Investments as not only an investor in Wabash National but, more importantly, as our new partner. Lincolnshire Management brings a proven track record of success and has consistently demonstrated a strong commitment to supporting the companies that they invest in," said Dick Giromini, Wabash National Corporation's President and Chief Executive Officer. "This investment, combined with the amended credit facility and the continuing impact of our cost restructuring initiatives, provides the capital structure that we believe will meet the needs of the Company during this economic downturn, and we look forward to profitable growth as business conditions improve."

 

Michael J. Lyons, Senior Managing Director of Lincolnshire Management, said, "We are extremely pleased to have closed our investment in Wabash National and to provide the Company with more operating flexibility during this economic downturn. We look forward to working together with the management team to grow Wabash's market leading position and franchise."

 

KERYX BIOPHARMACEUTICALS INCORPORATED (NASDAQ: KERX)

"Up 4.35% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/KERX.php

 

Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important, novel pharmaceutical products for the treatment of life-threatening diseases, including renal disease and cancer. Keryx is developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex is currently in Phase 2 clinical development for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease. The Company is also developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that modulates Akt, a protein in the body associated with tumor survival and growth. KRX-0401 also modulates a number of other key signal transduction pathways, including the JNK and MAPK pathways, which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 is currently in Phase 2 clinical development for multiple tumor types. The Company also has an in-licensing and acquisition program designed to identify and acquire additional drug candidates. Keryx is headquartered in New York City.

 

KERX News:

 

August 4 - Keryx Biopharmaceuticals Settles License Dispute With Alfa Wassermann

 

Keryx to Receive $3,500,000 and Deliver Sulonex Data and Intellectual Property to Alfa Wassermann

 

Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced that the Company and Alfa Wassermann S.p.A. have settled a dispute over issues arising from the terminated license agreement for Sulonex (sulodexide). Under the terms of the settlement agreement, Alfa Wassermann is paying Keryx US$3,500,000 (of which US$2,750,000 has already been received by Keryx and $750,000 is to be paid to Keryx on or before July 30, 2010), and Keryx shall deliver to Alfa Wassermann all of its data, information and other intellectual property related to Sulonex.

 

Ron Bentsur, Chief Executive Officer of Keryx, stated, "We are pleased that this matter has been resolved in a manner that we believe serves the best interests of the Keryx shareholders. This settlement provides us with additional non-dilutive cash to move our compounds into Phase 3 trials."

 

ANGIOTECH PHARMACEUTICALS INCORPORATED (NASDAQ: ANPI)

"Up 11.90% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/ANPI.php

 

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company with over 1,500 dedicated employees. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury.

 

ANPI News:

 

August 4 - Angiotech Pharmaceuticals announces launch of Quill SRS product codes for laparoscopic gynecology procedures

 

Angiotech Pharmaceuticals, Inc. (Nasdaq: ANPI) (TSX: ANP) announced the launch of a series of new, proprietary Quill™ SRS product codes specifically designed for laparoscopic, or minimally invasive, gynecology procedures, including hysterectomies and myomectomies. In 2008, there were approximately 750,000 hysterectomies performed in the United States of which approximately 130,000 were performed laparoscopically. In addition, there were approximately 72,000 myomectomies performed in the United States to remove uterine fibroid tumors. Management estimates 6-8% annual growth in laparoscopically assisted hysterectomies through 2014.

 

Angiotech's proprietary Quill SRS barbed suture technology offers significant advantages in laparoscopic surgery whether performed manually by surgeons or through robotic assistance. The primary advantage of Quill SRS for laparoscopic procedures is the ability to close a wound using Quill without the surgeon having to tie knots. The exercise of tying knots can be very challenging and time consuming when surgeons are relegated to operating in a smaller surgical field as a result of electing to use a minimally invasive approach for the procedure. A second advantage is to minimize or eliminate the need for a third hand to maintain tension on the suture as typically required with a traditional suturing technique in order to deal with tissue recoil. A third advantage of Quill SRS is that the even distribution of tension and its ability to maintain the tension along the length of the suture also provides hemostatic benefits, often eliminating or minimizing the need for standard hemostatic sutures.

 

These and other novel elements of Angiotech's Quill SRS for laparoscopic and robotic-assisted surgery are expected to significantly reduce the time and difficulty of completing a wound closure in these types of surgical procedures, where tying sutures through small incisions using instruments, while having limited visibility of patient anatomy, can be one of the most difficult and tedious aspects of such procedures for physicians. Patients may also benefit through reduced surgical times, and therefore reduced time under anesthesia, and health care facilities and payors may also benefit from the potential to reduce operating room time needed, or the total cost of material needed, to complete such surgical procedures.

 

Angiotech's new Quill SRS product codes for laparoscopic gynecology procedures are available in our polydioxanone (PDO) suture material in size -0- with 7 cm by 7 cm and 14 cm by 14 cm lengths, and include our newly designed 36 mm needles.

 

The use of Quill SRS in laparoscopic gynecology surgery was first reported by James Greenberg, MD, and Jon Einarsson, MD, MPH, of the Centre for Women's Surgery at Brigham Women's/Faulkner Hospitals and Harvard Medical School Boston, Massachusetts in the Journal of Minimally Invasive Gynecology, in November of 2008. The results of this small feasibility study looked at the application of Quill SRS in myomectomy and total laparoscopic hysterectomy vaginal cuff closures. This publication was then followed by up by a podium presentation at the American Association of Gynecologic Laparoscopists (AAGL) annual meeting in the fall of 2008 confirming that there were no post operative issues or complications from the use of Quill SRS in a patient series that had grown to 150 patients reviewed to that date. "Bidirectional barbed sutures greatly facilitate laparoscopic suturing. Further evolution and incorporation of this suture material into clinical practice seems inevitable," said Dr. Einarsson.

 

"Quill SRS helps surgeons overcome one of the largest obstacles in advanced minimally invasive surgery - tying knots laparoscopically. With this revolutionary technology, we should anticipate the introduction of the next generation of safer minimally invasive procedures," said Dr. Greenberg.

 

For more information about Quill SRS for laparoscopic gynecology procedures, please refer to our Quill SRS website located at www.angioedupro.com and view our online movies demonstrating Quill SRS in use. All Quill SRS products are also available for purchase online by accredited surgeons at Angiotech's e-commerce site which can be accessed at https://ecommerce.angiotech.com/Main/Home.aspx.

 

ABOUT THE QUILL™ SELF-RETAINING SYSTEM (SRS)

 

The Quill SRS product line represents a revolutionary technology in wound closure made possible by bidirectional fixation within the wound. Its patented design allows the surgeon to begin closure at the midpoint of the wound and suture in two directions from the midpoint. Barbs within the Quill SRS product distribute tension across the wound and eliminate the need for knots.

 

MAHINDRA SATYAM (NYSE: SAY)

"Up 5.93% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/SAY.php

 

Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities. Mahindra Satyam is part of the $6.3 billion Mahindra Group, a global industrial conglomerate and one of the top 10 industrial firms based in India. The Group's interests span financial services, automotive products, trade, retail and logistics, information technology and infrastructure development. Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.

 

SAY News:

 

July 17 - Company Law Board Withdraws Four Government-Appointed Directors from Mahindra Satyam Board

 

Mahindra Satyam, the new brand identity of Satyam Computer Services Ltd. (NYSE: SAY), a global consulting and IT services provider, announced today that the Company Law Board has given permission to the central government to withdraw FOUR of the SIX directors appointed by it to the Board of Directors of Satyam Computer Services Limited. Following the order, the government this evening chose to retain Mr. Achutan and Mr. T. N. Manoharan on the board of the company.

 

After receiving permission on January 9, 2009 from the Company Law Board, the central government had appointed the following six eminent directors to the board of the company under the chairmanship of Mr. Kiran Karnik on January 11, 2009 and January 15, 2009: Mr. Kiran Karnik, Mr. Deepak Parekh, Mr. C. Achutan, Mr. Tarun Das, Mr. T. N. Manoharan and Mr. Suryakant Balkrishna Mainak.

 

When issuing today's order, the Company Law Board extended its compliments and appreciation to all six board directors for providing vital leadership during a challenging period, enabling the rapid stabilization of the firm, and effecting a smooth transition of control of the company to the strategic investor. A copy of the order can be obtained at www.mahindrasatyam.net.

 

ABOUT TECH MAHINDRA

 

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry, with a majority stake owned by Mahindra & Mahindra Limited, in partnership with British Telecommunications plc. With total revenues of Rs 44,647 million in the year ended March 31, 2009, Tech Mahindra serves telecom service providers, equipment manufacturers, software vendors and systems integrators. Tech Mahindra solutions enable clients to maximize returns on IT investment by achieving fast time to market, reduced total cost of ownership and high customer satisfaction. Tech Mahindra achieves this through its domain and process expertise, distinctive IT skills, research and development, and its proven, innovative delivery models and approach to offshoring.

 

Assessed at SEI-CMMi Level 5 and PCMM Level 5, Tech Mahindra's track record for value-delivery is supported by over 25,000 professionals who provide a unique blend of culture, domain expertise and in-depth technology skill-sets. Its development centres are ISO 9001:2000 and BS7799 certified. Tech Mahindra has principal offices in the UK, US, Germany, UAE, Egypt, Singapore, India, Thailand, Taiwan, Malaysia, Philippines, Canada and Australia.

 

YRC WORLDWIDE INCORPORATED (NASDAQ: YRCW)

"Up 5.96% in morning trading"

 

Detailed Quote: http://www.otcpicks.com/quotes/YRCW.php 

 

YRC Worldwide Inc., a Fortune 500 company and one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and Reddaway. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. The company is headquartered in Overland Park, Kan.

 

YRCW News:

 

August 3 - YRC Worldwide Reports Second Quarter 2009 Results

 

Finalized Bank Amendment Represents another Step in the Company's Comprehensive Plan; Core Operating Results Showing Sequential Improvement

 

YRC Worldwide Inc. (Nasdaq: YRCW) reported its results for the second quarter and provided an update on its comprehensive plan. For the quarter, the company announced a loss per share of $3.53, excluding significant charges as detailed below, and a loss per share of $5.20 when including the charges. By comparison, the company reported earnings per share in the second quarter of 2008 of $.23, when excluding a curtailment gain related to the harmonization of retirement plans across the company for its non-contractual employees, and earnings per share of $.62 when including the curtailment gain.

 

"The second quarter was focused on executing our comprehensive plan to realize efficiencies from the YRC integration, restore financial strength and position our operating companies for future success," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide. "As a result of the March integration of Yellow and Roadway, the further rightsizing of our networks in relation to volumes and the overall economic environment, we recorded some significant charges that we believe are not reflective of the underlying operating results of our company. Although we will continue to enhance the efficiencies of our networks, we do not expect to record charges of this magnitude going forward."

 

Summary of Second Quarter Results

 

YRC Worldwide also reported aggregated cash and available unused capacity under the credit facilities of $218 million at June 30, 2009, including $165 million of cash and cash equivalents. In addition, the company had $95 million in the revolver reserve created pursuant to the company's credit agreement at June 30, 2009. The company completed $127 million of sale and financing leaseback transactions and closed on $14 million of excess properties during the second quarter.

 

The equity investment impairment of $30 million noted in the significant charges table related entirely to the company's August 2008 65% investment in Shanghai Jiayu Logistics, one of the largest providers of truckload and less-than-truckload ground transportation services in China. This write-down was primarily a result of the declining economy in China and around the world.

 

Segment Information

 

Key segment information for the second quarter 2009 compared to the second quarter 2008 included:

 

A) YRC National Transportation total shipments per day down 37.1% and total tonnage per day down 39.4%. The company continues to right size its network to support current and future shipment volumes. Total revenue per hundredweight, including fuel surcharge, down 13.1%, when adjusting for rerates of $12 million not attributed to the second quarter revenue, and down 14.2% without adjusting for these items. Excluding fuel surcharge and adjusted for $12 million in rerates, and mix, total revenue per hundredweight for YRC National Transportation was down about 1.5%.

 

B) YRC Regional Transportation total shipments per day down 22.0% and total tonnage per day down 26.4%. Total revenue per hundredweight, including fuel surcharge, down 11.9%. Excluding fuel surcharge, total revenue per hundredweight for YRC Regional Transportation was down about one percent.

 

"We continue to win new business, and customers have returned shipments to our networks, though it has not happened as quickly or at the levels we were initially expecting," said Zollars. "Although misinformation about our financial stability creates noise in the marketplace, many of our key customers stand firmly behind our plans and show their support with their business every day. We believe that as we continue to make significant progress on our plans, the tremendous support of our employees, lenders and other stakeholders can provide all of our customers with the confidence they need to completely return."

 

Additional statistical information is available on the company's website at yrcw.com under Investors, Earnings Releases & Operating Statistics.

 

Comprehensive Plan Update

 

YRC Worldwide also announced additional progress in its comprehensive plan to realize efficiencies from the YRC integration, restore financial strength, and position its operating companies for future success. The company's progress report includes updates on subsequent events since the close of the June 30, 2009 reporting period. These events focus on three key areas of its comprehensive plan.

 

Bank Amendment

 

The company finalized today an amendment to its credit agreement with its lender group. The amendment eliminates the third quarter 2009 earnings before interest, taxes, depreciation and amortization (EBITDA) covenant and establishes a fourth quarter 2009 EBITDA covenant of $15 million and a first quarter 2010 EBITDA covenant of $20 million. Also, under the amendment, the company can retain 100% of asset sales between July 31, 2009 and August 31, 2009, up to $50 million (subject to certain conditions) and the minimum liquidity covenant during that same period has been eliminated. The company and its lenders continue active dialogue in regard to the company's progress on its strategic actions and will evaluate the need for longer-term modifications to the credit agreement.

 

"We have continued to receive support from our lenders as we manage through this severe economic downturn and the implementation of our recovery plan," stated Tim Wicks, Executive Vice President and CFO of YRC Worldwide. "We believe their actions demonstrate their belief in the value of this company and its potential as the benefits of our strategic plans become more reflective in our results."

 

Pension Fund Progress

 

YRC Worldwide has reached agreement with the company's International Brotherhood of Teamsters ("IBT") multi-employer defined benefit pension funds to provide certain of the company's real estate as collateral in lieu of pension contribution payments during the second quarter. The company previously announced that it had finalized agreements with funds totaling $94 million, and the remaining funds have joined as participants in the same agreement for a total deferral of $128 million.

 

Teamsters Voting on Contract Modifications

 

The company's employees represented by the IBT are currently voting on modifying our labor agreement, and the results of the vote are expected in early August. Upon ratification of the modification, the company expects an immediate benefit to monthly operating income and cash flow of approximately $45 million per month, increasing to $50 million per month in 2010.

 

Outlook

 

The company expects gross capital expenditures of about $65 million in 2009 and over $100 million of cash proceeds from sales of excess properties. Sale and financing leaseback transactions are expected to generate over $300 million of cash proceeds in 2009. Excluding payments related to sale and financing leaseback transactions, we expect interest expense of approximately $35 to $40 million in the third quarter of 2009.

 

"We have seen signs of encouragement in the economy including stabilization in our absolute volumes, though we think it is too early to confirm that this is the bottom of the recession," Zollars stated. "We remain optimistic that economic improvement could happen earlier than expected but we do not have it reflected in our financial plans until we progress through 2010."

 

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