BOSTON LIFE SCIENCES TO HOLD CONFERENCE CALL ON MAY 22, 2002
May 21, 2002 Boston Life Sciences, Inc. announced that it will hold an investor's conference call on Wednesday, May 22, at 11:00 am EDT.
During the call, the company will discuss the Notice of Allowance of claims and the patent application for the use of Inosine to treat stroke and spinal cord injuries. To participate in the conference call, please dial (800) 556-3831 in the U.S. and Canada, or for International callers (972) 512-0694. All participants must enter the following passcode to partake in the call: 70549. The conference call will also be taped and may be heard by dialing (888) 746- 9011 within the U.S. and Canada, or International callers may dial (972) 512-0694 and enter the following passcode: 01665. The audio recording of the call will be available through May 24, 2002 until 11:59pm.
The management of the company will also answer questions about the development of diagnostics and therapeutics for Parkinson's Disease (PD) and Attention Deficit Hyperactivity Disorder (ADHD) as well as Troponin for the treatment of solid tumors. Progress and developments on other projects will also be discussed.
BLSI is developing novel diagnostics and therapeutics for Parkinson's Disease (PD) and Attention Deficit Hyperactivity Disorder (ADHD) as well as treatments for cancer, autoimmune disease, and central nervous system disorders. BLSI's products in development include: ALTROPANETM and FLUORATECTM radioimaging agents for the diagnosis of PD and ADHD; Troponin I, a naturally-occurring anti-angiogenesis factor for the treatment of solid tumors; AF-1 and Inosine, nerve growth factors for the treatment of acute and chronic CNS disorders; novel therapies for the treatment of PD and ADHD; and transcription factors that may control the expression of molecules associated with autoimmune disease and allergies.
David Hillson, President and CEO of BSLI
Dr. Marc Lanser, Chief Scientific Officer of BLSI
My notes:
Inosine
Recent press release, paper was accepted, exact publication not disclosed. Recovery due to nerve generation caused specifically by Inosine. Direct injection into spinal fluid. Administered over 6 weeks. Histology has shown growth in the brain. Explanation as to why this technology works. It distinguishing itself from other stroke treatments - actual growth of nerves was seen.
Talking to some high power medical facilities who are interested in getting on board with Insoine in stroke studies. Secondarily, spinal cord injury issues will be dealt with later. (when more money comes in?) Glaucoma is also a target for optic nerve re-growth. Working on an intra-ocular delivery techniques.
Inosine - Manufacturing: Good news, it's a widely available, small molecule. Not all sources are GMP qualified, but they have a GMP source.
Troponin - pre IND document submitted about a month ago. Several ancillary studies suggested along with further tox studies. Sites are already lined up for PI and PII studies. Converting smaller GLP(?) facility into a GMP production facility. June/July time for this to ramp up. Cheaper to do than to farm out production.
March 20, 2002-Boston Life Sciences, Inc. announced that the Company had initiated regular production of its anti-angiogenic protein, Troponin I in its own facility in Baltimore, MD. The Company's manufacturing team is now able to produce all anticipated clinical trial material, using its internally developed proprietary manufacturing process. This in-house production should result in substantial cost and time savings. The Company is in the process of converting its GLP production facility to full GMP capability to meet FDA requirements for human-use material. snip..
Altropane - FDA dialog continues toward (Parkinsons) NDA filing "soon". Productive exchanges ongoing.
ADHD target (PII) studies going forward, with "better" data already being seen. Filing by end of year.
Questions:
Inosine. Major effort by the Christophor Reeve Foundation seeking treatments. Does BLSI have anything to do with this?
Some researchers are using BLSI products.
What about the burn rate?
We don't feel we are running out of cash. Burn rate is low enough to get them well into next year.
One key to longer term viability is a better overall biotech market where we can be money more easily.
MetLife securities:(Important answers)
Any concerns about FDA rejections and the impact on your filings?
This is one reason that biotech is out or favor right now. Success or failure of many of our products will be determined in 2003. We will need maybe $7M additional cash to see this to the end.
We delayed Troponin trials 2-3 yrs so that we could get our manufacturing house in order first.
Can not predict when the company will be profitable(profits from Altropane). So that after submittals are done, and excepted there is a 9 month delay in the FDA waiting for approval. The next delay will be ramping up to full production.
How can you get your credibility back with the analysts?
We have lost credibility with investors mostly. Not many analysts cover our stock. Most of our delays in moving forward with products were caused by our delays with using and managing contact manufactures in the development cycle. Troponin was difficult to make and we succeeded were other large contract facilities could not do this (Bristol Meyers was named).
Most if not all biotechs are asked “ when are the filings going to be and when are you going to make a profit”. We did not do a good job of getting the word out given out lack of manufacturing capability.
Tape hiccuped and stopped.
About 45 min long |
