We have been beaten up pretty bad as it stands right now, but I haven't been able to find anything wrong with the fundamentals. It seems everyone is saying that it is a fund selling for tax losses. The company is still on it coarse as far as I can tell. I understand that there is private placement coming together, perhaps $2m to $3m.
On 2000/10/15 there were no short positions.
Dick
RESPONSE BIOMEDICAL CORP - Senior Management Addition [223]
Canadian Market News from Market News Publishing, Tuesday, October 24, 2000 at 09:22
Response Biomedical Corp., a leading point-of- care diagnostics
developer, announced that Humberto Reyes has been appointed President and
CEO of the Company.
Effective immediately, Mr. Reyes will assume the position of President
and CEO. Mr. Reyes will also continue as Chairman while the Board of
Directors searches for a suitable candidate to fill this role. Bruce
Colwill, who has held the role of Interim President and CEO since April
2000, will continue to serve as Chief Financial Officer.
"Having participated fully in the operational and manufacturing design
elements of the business for the past three years, I look forward to my new
full-time role guiding Response Biomedical through this exciting
commercialization 'hese," said Mr. Reyes. "At Response, we are committed to
one initial goal -- the commercialization of our proprietary RAMP system
for point-of-care diagnostics. We are well-positioned to capitalize on the
opportunities in this multi-billion dollar market."
The RAMP platform is suitable for a large number of diagnostic tests.
The market size for the first six tests that are expected to be developed
is estimated at US$2.0 billion.
Mr. Reyes has been a Director of Response Biomedical since 1997. Mr.
Reyes brings more than 20 years of management experience in the diagnostics
industry, including positions as Vice President at Baxter International's
Dade Diagnostics, Senior Vice President of Operations at Microgenics, CEO
of BPR Health and President and CEO of OXIS Health Products Inc. Mr. Reyes'
experience includes establishing strategic alliances, holding
responsibility for worldwide diagnostics manufacturing operations in a
1300-employee environment, launching multiple diagnostic products with
sales of US$100 million, and overseeing all operational aspects in several
high-growth situations.
Response Biomedical develops quantitative diagnostic systems for use in
hospitals, clinics, research laboratories and physicians offices worldwide.
Response Biomedical's patented RAMP system reduces the cost of healthcare
by providing inexpensive, rapid and easy to use tests at the point-of-care.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of the content of the information contained
herein. The statements made in this press release may contain certain
forward- looking statements that involve a number of risks and
uncertainties. Actual events or results may differ from the Company's
expectations.
TEL: (604) 681-4101 Scott Jackson, Response Biomedical Corp.
FAX: (604) 412-9830
Email: sjackson@responsebio.com
TEL: (416) 815-0700 Joanna Longo, Investor Relations,
The Equicom Group Inc.
FAX: (416) 815-0080
Email: jlongo@equicomgroup.com |
