Week 1 Hypothesis Identification Article Review (The article)
Week 1 Hypothesis Identification Article Review (The article)
CSU - Dominguez hills
Popular in Course
verified elite notetaker
Popular in Department
This 0 page Study Guide was uploaded by smartwriter Notetaker on Sunday November 15, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 17 views.
Reviews for Week 1 Hypothesis Identification Article Review (The article)
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/15/15
Copyright PR Newswire Association LLC Nov 15 2010 ANN ARBOR Mich Nov 15 2010 PRNewswireFirstCall Adeona Pharmaceuticals Inc Amex AEN a developer of innovative medicines for serious central nervous system diseases announced today its third quarter 2010 nancial results as well as recent clinical and operational achievements Adeona39s Recent Clinical and Operational Achievements Clinical Programs Alzheimer39s Disease All 60 patients are now enrolled in Part 2 of CooperProof 2 clinical study evaluating Zinthionein a new zincbased treatment for Alzheimer39s disease In this randomized doubleblind placebocontrolled study patients are assessed 3 and 6 months after they begin the oncedaily oral treatment or matching placebo These 60 patients should complete their 6 month treatment by the end of March 2011 and it is anticipated that topline clinical study results should be available shortly thereafter If successful Adeona expects to make its Zinthionein product commercially available as a prescription medical food for patients suffering from Alzheimer39s disease and mild cognitive impairment Five peerreviewed scienti c articles have recently been published supporting the role of copper toxicity and zinc de ciency in Alzheimer39s disease and mild cognitive decline These publications were authored by Adeona39s scienti c founder and consultant GeorgeJ Brewer MD the Morton S and Henrietta Sellner Emeritus Professor of Human Genetics and Internal Medicine at the University of Michigan Multiple Sclerosis 115 of 150 patients have been enrolled in the clinical trial evaluating Trimesta in women suffering from relapsingremitting multiple sclerosis The randomized doubleblind placebocontrolled clinical trial is currently underway at 15 centers in the United States Operational Since purchasing Adeona Clinical Laboratory in July 2009 the client base has increased from 5 to 9 practices and the inhouse diagnostic testing services have been expanded to include a full array of microbiology testing These signi cant changes represent a 567 increase in net laboratory revenues for the quarter ended September 30 2010 compared to the quarter ended September 30 2009 Two grants totaling 488959 were awarded in November 2010 under the Qualifying Therapeutic Discovery Project Program to support Adeona39s Alzheimer39s disease and multiple sclerosis programs currently in clinical testing Third Quarter Ended September 30 2010 Results Total net revenues for the three and nine months ended September 30 2010 were 289898 and 2544825 respectively compared to 51085 for both periods in 2009 The increase in total net revenues for the three months ended September 30 2010 re ects a 567 increase in net laboratory revenues from the three months ended September 30 2009 The increase in total net revenues for the nine months ended September 30 2010 re ects 2125000 of net license revenue received as a result of the Meda AB sublicense agreement of upirtine for bromyalgia during the second quarter of 2010 and increases in net laboratory revenues for expanded client services provided by Adeona Clinical Laboratory from the nine months ended September 30 2009 Total costs and expenses for the three and nine months ended September 30 2010 were 1023026 and 3393029 respectively compared to 677308 and 2671519 for the same periods in 2009 Research and development expenses for the three and nine months ended September 30 2010 were 424573 and 1406264 respectively compared to 325662 and 1219135 for the same periods in 2009 These increases are primarily due to the increased costs associated with the expansion of the client base at Adeona Clinical Laboratory For the three and nine months ended September 30 2010 research and development expenses also include a noncash charge relating to sharebased compensation expense of 19817 and 72785 respectively compared to 33421 and 153031 for the same periods in 2009 General and administrative expenses for the three and nine months ended September 30 2010 were 598453 and 1986765 respectively compared to 351646 and 1452384 for the same periods in 2009 These increases are primarily the result of increased legal and consultant fees and salary expenses For the three and nine months ended September 30 2010 general and administrative expenses also include a noncash charge relating to sharebased compensation expense of 68493 and 252100 respectively compared to 20875 and 91509 for the same periods in 2009 Net losses for the three and nine months ended September 30 2010 were 732835 or 003 per share and 840575 or 004 per share respectively compared to 626075 or 003 per share and 2617608 or 012 per share for the same periods in 2009 As of September 30 2010 Adeona had approximately 33 million in cash compared to approximately 27 million on December 31 2009 Adeona will hold a conference call today Monday November 15 2010 at 1200 Noon EST to discuss these results and achievements James S Kuo MD MBA Adeona39s Chief Executive Of cer will host the call In order to participate please call United States toll free 18008602442 and International dialin 1412858 4600 To ensure each participant is able to hear the entire conference call it is recommended that participants dial into the conference line at least 5 minutes prior to the call The audio recording will be available for replay at wwwadeonapharmacom for a period of at least 30 days after the call quotWe continue to make excellent progress in the clinical development of our product candidates for Alzheimer39s disease and multiple sclerosis With patient enrollment now complete in the Alzheimer39s disease clinical study we expect to report topline results after all patients have completed their 6 month followup anticipated to occur toward the end of March 2011 In parallel with this ongoing clinical study we are working to make Zinthionein commercially available as a prescription medical foodquot stated James S Kuo MD MBA Adeona39s Chief Executive Of cer quotWe are also encouraged by the continued growth of the client base net revenues and the expanded testing services offered at Adeona Clinical Laboratoryquot About Adeona Pharmaceuticals Inc Adeona is a pharmaceutical company developing innovative medicines for the treatment of serious central nervous system diseases The Company39s strategy is to license product candidates that have demonstrated a certain level of clinical efficacy and develop them to a stage that results in a signi cant commercial collaboration Currently Adeona has the following product candidates in development a prescription medical food for Alzheimer39s disease and four drugs for multiple sclerosis bromyalgia rheumatoid arthritis and dry agerelated macular degeneration For more information please visit Adeona39s website at wwwadeonapharmacom This release includes forwardlooking statements on Adeona39s current expectations and projections about future events In some cases forwardlooking statements can be identi ed by terminology such as quotmayquot quotshouldquot quotpotentialquot quotcontinuequot quotexpectsquot quotanticipatesquot quotintendsquot quotplansquot quotbelievesquot quotestimatesquot and similar expressions These statements are based upon current beliefs expectations and assumptions and are subject to a number of risks and uncertainties many of which are dif cult to predict and include statements regarding our cash on hand being suf cient to fund operations for the next 12 months and the expected completion of the Zinthionein clinical study in the rst quarter of 2011 and the expected results from such study The forwardlooking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forwardlooking statements Important factors that could cause actual results to differ materially from those re ected in Adeona39s forwardlooking statements include among others a failure of our clinical trials to be completed on time or to achieve desired results a failure of our clinical reference laboratory to continue to grow and achieve revenue or a failure by us or our strategic partners to successfully commercialize products and other factors described in Adeona39s report on Form 10K for the year ended December 31 2009 and any other lings with the SEC The information in this release is provided only as of the date of this release and Adeona undertakes no obligation to update any forwardlooking statements contained in this release on account of new information future events or otherwise except as required by law SOURCE Adeona Pharmaceuticals Inc Credit Adeona Pharmaceuticals Inc
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'