OPK, the Miami company headed by Dr. Phillip Frost, has a large LTD,but earlier this month it raised $31M in private placement transactions, with the issue of 31M restricted shares of common at $1.00 per share, and the company has not been loosing any time in putting that cash to work. <g>
On Jun 11, it announced an investment in Sorrento Therapeutics of San Diego, which has a platform technology for the generation of fully human monoclonal antibodies.OPK acquired 1/3 of the outstanding shares of Sorrento and received an exclusive license to the Sorrento antibody library for the discovery and development of therapeutic antibodies in the ophthalmology field.
Yesterday it announced that it was making an investment in Cocrystal Discovery a biopharmaceutical Co. focusing initially on the discovery and development of antiviral drugs, with the first targets viruses that cause the common cold and hepatitis C.
And today it announced that it has acquired exclusive rights to a technology developed at the Univ. of TX Southwestern Med. Cntr., by Thomas Kodadek, Ph.D., and his team. Dr. Kodadek, had recently joined the faculty at Scripps in Jupiter, FL.
The new platform technology is for the rapid identification of molecules that can be useful as vaccines and new drugs, and to create new diagnostic tests.
The stock was able to trade earlier this month,(before the recent market slump.<g>), above its Jan. H.
bigcharts.marketwatch.com
The stock is starting to get off from the DT coming from its early 2007 H above the $5 level.<g>
bigcharts.marketwatch.com
Bernard |
