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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: brian krause who wrote (10196)	11/25/2002 8:46:34 AM
From: Al Collard	Read Replies (1) of 11802

WHT-t...in the news: Globe/wires say World Heart application sparks rally Mon 25 Nov 2002 The Globe and Mail reports in its Saturday edition that shares in World Heart more than doubled on Friday after the medical products company said U.S. regulators had filed an application to expand the use of the company's Novato artificial heart pump for an expedited review. The unbylined item says World Heart is seeking approval to increase the use of its Novato device to include long-term therapy on seriously ill heart patients who are not candidates for transplants. Its shares closed at $1.63, up 82 cents. The application, if granted, would expand its market by 100 times, the company said. If the premarketing approval supplement application is successful, World Heart sales could increase tenfold within the next three years, chief executive officer Rod Borden told Reuters. In fiscal 2001, the company reported sales of $8.25-million. The stock is still 78 per cent off the year-high of $7.30 set in January. The filing marks a reversal by the U.S. Food and Drug Administration, which decided in October not to review the application because of data deficiencies.

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