This was e-mailed to me by Stockwatch.
Lorus Therapeutics fifth most active conference
Lorus Therapeutics Inc LOR
Shares issued 43,280,001 Jan 7 close $2.10
Mon 10 Jan 2000
Week ended Jan 7th
by Stockwatch business reporter
This is the first review of Lorus Therapeutics in Forum Watch, sliding into
fifth position among Canada Stockwatch's most active conferences. Lorus is
a pharmaceutical company engaged in the development of cancer therapies. In
addition to trading on the Toronto and Montreal exchanges, Lorus trades on
the Nasdaq OTC Bulletin Board under the symbol "LORFF".
Lorus is currently developing a number of anticancer compounds called
NuChem Analogues as well as a sterile liquid drug formulation for injection
called Virulizin. At a special shareholders meeting on July 14, 1999, Lorus
obtained shareholder approval for the acquisition of GeneSense
Technologies, a private biopharmaceutical company. The acquisition of
GeneSense and recent exercise of warrants has pushed the company's total
shares outstanding to 140 million according to a Jan. 6 Globe and Mail
report.
On Dec. 7, Lorus announced that its application to begin trials of the
anticancer drug, GTI 2040, had been approved by the U.S. Food and Drug
Administration. The clinical trial will take place under the direction of
Dr. Richard Schilsky of the Chicago Cancer Research Center. That
announcement, coupled with renewed interest in the biotechnology sector,
moved the stock price sharply higher. Lorus set a 52-week high of $3.10 on
Jan 6. in brisk trading.
The Lorus conference slipped into fifth position among the active
conferences largely through default in a week of light posting. There was
not any sustained or extensive discussion. Early in the week, 'Jag' offered
some brief comments regarding recent news coverage, remarking that Lorus
"is taking a leadership role in regards to the battle for control of cancer
and from the activity on the market place the news was received very well!"
On Jan. 3, 'Midas' joined in: "LOR seems to be in big demand trading as
high as $1.08 today on the Nasdaq. That would be about $1.56 (Canadian)."
'Ziggy' offered some thoughts, remarking, "I read recently (National Post)
that the company is spearheading a biotech consolidation in Canada, which
may also be a part of their success in the markets." When Lorus closed at
$1.31 (U.S.) on Monday, 'Midas' speculated on what the following day would
bring, remarking, "We should have a strong opening and some frantic short
covering to begin the day." 'Ziggy' agreed: "LOR should open above $2
tomorrow. Even at this price this may be a good play." As it turned out,
Lorus did set a 52-week high on Thursday before closing out the week at
$2.10.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
