It has been almost a month since your post to the LOR forum. The closing price on Nov 24 was 39 cents. The closing price today was .92 and since Nov 24 more than 35 million shares have changed hands. It has definitely had quite a run.
You might have another look at their website - last updated Dec 7 - a lot of the things that you rightly noted were missing now seem to be included. Your note about cash on hand didn't reflect that they had closed a $10 million CDN financing on October 27 , and have added another 6 million on the EARLy exercise of warrants.
See the latest press release out today (below). It is the associations that this company has that make it intriguing to me.
(Applies to: LORFF)
(LORFF) Lorus Therapeutics Reports Results of International Scientific
Study
TORONTO, Dec 20, 1999 (BUSINESS WIRE) -- Lorus Therapeutics
I(TSE:LOR.) (ME:LOR.) (OTC Bulletin Board:LORFF)
- Reported in Gene - An International Journal on Genes and Genomes -
Lorus Therapeutics Inc. ("Lorus") announced today that it has published
a report in the scientific journal, entitled Gene (Volume 238), which
describes a unique role for the ribonucleotide reductase R2 gene in the
development and growth of tumors. The report was a collaboration of
efforts between Lorus and scientists at the National Institutes of
Health in the United States and the University of Manitoba in Canada.
"By understanding that an abnormal elevation in the R2 component leads
to an increase in the malignant properties of tumor cells, we were able
to develop a series of specific anticancer drugs that could potentially
be used to treat a wide variety of cancers. The first two drugs to come
from this research are GTI 2040 and GTI 2501," said Dr. Jim Wright,
president and chief scientific officer at Lorus. "Understanding the
role of the R2 component of the ribonucleotide reductase gene in cancer
progression is extremely important because it provides us with
additional information on possible new targets for drug design and
treatment strategies."
Lorus recently announced an important step forward with the stamp of
approval from the U.S. Food and Drug Administration ("FDA") for the
company's Investigational New Drug ("IND") application to begin
clinical trials of the anti-cancer drug, GTI 2040. The clinical trials
will take place under the direction of Dr. Richard Schilsky of the
Chicago Cancer Research Center.
Lorus is a biopharmaceutical company focused on the research and
development of cancer therapies. Lorus' goal is to capitalize on its
research, pre-clinical, clinical and regulatory expertise by developing
new drug candidates that can be used, either alone, or in combination,
to successfully manage cancer. Through an active acquisition and
in-licensing program, Lorus is building a portfolio of promising
anti-cancer drugs. Late-stage clinical development and marketing will
be done in cooperation with strategic pharmaceutical partners. Founded
in 1986, Lorus Therapeutics Inc. is a public company listed on the
Toronto Stock Exchange and the Montreal Stock Exchange under the symbol
LOR, and on the OTC BB exchange under the symbol LORFF.
Except for historical information, this press release contains
forward-looking statements, which reflect the Company's current
expectation regarding future events. These forward-looking statements
involve risks and uncertainties, which may cause actual results to
differ materially from those statements. Those risks and uncertainties
include, but are not limited to, changing market conditions, the
successful and timely completion of clinical studies, the establishment
of corporate alliances, the impact of competitive products and pricing,
new product development, uncertainties related to the regulatory
approval process, and other risks detailed from time to time in the
Company's ongoing quarterly filings, annual reports and 20-F filings.
Lorus Therapeutics Inc.'s press releases are available through the
company's Internet site: www.lorusthera.com. |
