Today, HMSL went up by a little more than 80% in both Toronto and on the NASDAQ based upon the news that it formed a strategic alliance with T.PLI, another TSX traded company with scant revenues, assets, ...
HMSL looked like a strong competitor for BPUR until the DMSB said its product, Hemolink, wasn't safe. To my knowledge it has no other products.
Today's strategic alliance seems to be all hope, dreams and have very little substance re achieving any revenues any time soon.
Does anyone think there may be any justification for the 80%+ rise in its share price?
Portion of News story follows:
Hemosol and ProMetic Biosciences form Strategic Alliance for Production and Commercialization of Plasma-based Proteins
07:30 EST Thursday, December 04, 2003
TORONTO, Dec. 4 /CNW/ - Hemosol Inc. (TSX: HML, NASDAQ: HMSL) today announced that it has forged the principle terms of a strategic alliance with ProMetic Biosciences Ltd. a wholly owned subsidiary of ProMetic Life Sciences Inc. (TSX: PLI) that will include Hemosol in-licensing the novel plasma separation technology developed by ProMetic and its strategic partner, the American National Red Cross ("American Red Cross").
Key elements of the strategic alliance include:
- Hemosol obtaining from ProMetic the exclusive North American license
for the novel cascade purification process developed by ProMetic and
the American Red Cross (the "Cascade") to recover valuable proteins
from human plasma;
- The implementation and optimisation of the Cascade at Hemosol's
state-of-the-art Meadowpine manufacturing facility in Mississauga,
Ontario;
- The commitment in principle of the American Red Cross to supply raw
material to Hemosol for processing and the purchase from Hemosol of
specific therapeutic products isolated using the Cascade; and
- Co-ordinated business activity by Hemosol and ProMetic to generate
revenue for both Companies following the successful implementation of
the Cascade at the Meadowpine facility by:
- Providing clinical trial material to the American Red Cross and
other potential licensees of Cascade outside of North America;
and
- developing markets for both therapeutic and non-therapeutic
plasma products produced by Hemosol employing the Cascade; and
- identifying, developing and exploiting commercial opportunities
in addition to those available from the use of Cascade. |
