Recent activity
It has been a while since any posts on this stock.
I wonder if anyone has knowledge on introducing drugs in
Mexico.
I have listened to the Jan 24 webcast of the LORFF 2nd Quarter results presentation. Three people spoke, Bruce Rollins, the new IR guy did the introduction,
Ping Wei [sp?], the comptroller, did the financials, and Jim Wright did the bulk of the 19 1/2 minute presentation. I listened to it at the web page, www.lorusthera.com.
As in the other times I have heard him, Wright sounds very confident and upbeat about the future prospects of the company, and shows no signs of dismay about
the low stock price. I am not a good transcriber, so won't attempt to summarize his talk.
The subject that interested me personally the most is Virulizin, and especially its launch in Mexico. Wright talked a lot about the new people added and the other newer drugs in development, maybe someone else will post about those subjects.
The first good thing he said was that we have a new "composition" patent on Virulizin, granted in 2002 to go along with the "method of production" granted before.
He said that the phase III study of Virulizin against pancreatic cancer is double blinded, and no efficacy data will be available until the study is completed and the result analyzed. He did not predict when that will be. He did say that "safety data" would be available during the trial and "we" would be "able to get it". My own guess that the "we" means "company management" and that the FDA would not like Lorus to issue PR's about interim results of a Phase III trial. The SEC would not like to see them give it to selected insiders either.
About the Mexican launch Wright said the first lot was shipped to Mexico in December and is now undergoing testing by the regulatory authorities. This
will be completed "very soon" he said, probably "within the week". Wright spoke at some length about this "regulatory testing". It is not just applied to the first lot of a new drug, but routine for all lots of all drugs, from small biotechs to big companies. I was quite surprised to hear this, and am wondering if any other poster had heard of this before. Mayne Pharma has the main responsibility for this effort and I hope that they know the proper way to expedite this phase with the Mexican governmental authorities. Mayne is also responsible for the
distribution of Viruliain in Brazil and Argentina, and may well have simlar dealings with their regulatory authorities.
One of the interesting things Wright said about the launch was that the "focus revolves around a major international meeting of clinicians in Mexico called 'INCAM' [sp?]" and that "details will be available shortly".
I emailed the company about the spelling of the word and the date of the meeting, but have not had a response yet.
Norman |
