>>OXFORD, UK, Sept. 24 /PRNewswire/ -- Oxford GlycoSciences Plc (LSE: OGS; Nasdaq: OGSI) announces interim results for the six months ended 30 June 2001.
Vevesca (OGT 918):
'Acceptance for review' of Marketing Authorisation Application (MAA) for Vevesca (OGT 918) notified by the European Agency for the Evaluation of Medicinal Products (EMEA) in July. Step-wise (rolling) New Drug Application (NDA) submission to the US Food and Drug Administration (FDA) initiated in March and completed in August.
Preliminary analysis of a six month study to investigate the potential of oral treatment with Vevesca (OGT 918) in patients with Gaucher disease who have been receiving enzyme therapy announced in February.
Clinical study on Vevesca (OGT 918) initiated in July with the New York University School of Medicine (NYU), an acknowledged centre of excellence for the treatment of Gaucher disease.
Further results on follow-up and dose comparison studies on Vevesca (OGT 918) presented at the European Study Group on Lysosomal Diseases on 22 September (see today's announcement).
Proteomics:
Proteomics database joint venture, Confirmant Limited (Confirmant) was formed with Marconi plc in June to build the Protein Atlas of the Human Genome(TM), the first definitive database of human protein-coding genes which Confirmant will market and distribute.
Successful integration of Isotope Coding Affinity Tag (ICAT) technology with MALDI ToF/ToF mass spectrometry, the 'next generation' proteomics platform that will accelerate the identification of new drug targets, as announced in New York in July.
Increased portfolio of patent applications on disease-associated proteins in angiogenesis, chronic lymphocytic leukaemia and prostate cancer.
Drug Discovery:
Multi-target collaboration signed with NeoGenesis Drug Discovery, Inc. (NeoGenesis) to apply high throughput chemistry, screening and computational biology to OGS portfolio of disease-associated proteins.
Financial Highlights:
Reported revenues for the period of GBP 8.7 million (2000: GBP 4.5 million); cash position GBP 195.9 million (2000: GBP 53.6 million).
Michael Kranda, Chief Executive Officer of OGS, said: ``In the first half we achieved solid progress in our business plan. We submitted our regulatory package both in the US and Europe for Vevesca (OGT 918). We advanced our proteome platform and revenue model and continue to make progress in the development of our proteomics-based drug research for the discovery of new therapeutics and biomarkers. In the second half we expect to make continued progress on all fronts.''
A presentation for UK analysts will be held at Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London WC2 at 10:30am (GMT) on Monday 24 September. This will also be available by conference call. Please contact Mo Noonan on +44 (0)20 7831 3113 for further details.
A conference call for US analysts will take place at 11am EST (8am PST). Please contact Hemal Parikh at Feinstein Kean Healthcare on +1 617 761 6787 for further details.
The presentation and Q&A will be recorded for a webcast which will be available on OGS' website at www.ogs.com at 6pm (GMT).<<
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By my reckoning, they have ~$5.20 USD/share, with the ADRs trading in the high 7s now. Are you adding here or waiting to see what late stage candidates they spend their money on?
Cheers, Tuck |
