JB -- Here's some news. 3Q 1999 earnings of $2.7 million ($0.18/shr) on revenues of $11.9 million were reported (at least via PPRT's homepage linked to biz.yahoo.com) on Feb 16th ($4.4 mill from mfg & $7.5 mill from a nonrecurringlicense/devel. fee). Chmn/CEO Elliot Friedman said PPRT expects significantly greater manufacturing revenues as well as some royalty revenues in future quarters. Later in the announcement, he indicated that mfg & royalty revenue could be more than $30 mill in calendar 1999 (I think PPRT's FY ends March 31st). On Feb 12th, PPRT filed a Form S-8 with the SEC to register shares held by officers and/or directors. The Form indicates that about 1.2 million shares would be sold (with all net proceeds going to the sellers, not the company) although it appears that some of the insiders will retain about 3 million additional shares in the aggregate. On the same date, PPRT filed a Form S-3 with the SEC to register shares held by MHMeyerson (and some of its principals) which it acquired when it underwrote PPRT's (I think) IPO. About 300,000 shares would be sold although some of the principals would retain another 71,000 shares. The forms are public and are available, among other places, at www.sec.gov. MHMeyerson's latest "free, public" report on PPRT, dated March 2, 1998, is linked through PharmaPrint's website which takes you to www.mhmeyerson.com/research/pharma/pharma.htm.
Regards, and happy reading.
Harry |
