Excerpts/questions from the 10K:
"The Company also intends to conduct or sponsor clinical studies to evaluate existing products in additional indications, and for expansion of ProstaScint and other products into foreign markets."
What are the licensing rights for ProstaScint? Does anyone know what "other products" is referring to?
"In addition, the Company intends to emphasize development of technology with
near term commercial significance and to review all current research and development programs to assess the potential of such research and development activities to enhance the Company's value for its stockholders."
Wait a minute, this can't be CYTO. Our CYTO would *never* mention the measly stockholders. Or, is this standard fluff I've just never really noticed?
"On March 31, 1998, Elan Corporation plc ("Elan") exchanged its shares of the Company's Series A Convertible Preferred Stock ("Series A") and thereby acquired 50% of CYTOGEN's 99.75% ownership of Targon, as contemplated by the terms of such Series A."
Finally, confirmation.
"For the year ended December 31, 1997, revenues related to ProstaScint and Quadramet accounted for approximately 86% of the Company's product related revenues. ProstaScint sales have experienced continued growth since product launch, with sales increases during each successive quarter...Quadramet sales during the period from its launch have been below levels of minimum royalty payments due from its commercial partner, the DuPont Merck Pharmaceutical Company through its radiopharmaceutical division ("DuPont Merck")...initial marketing efforts by DuPont/Merck have been directed to nuclear medicine physicians who directly administer the product to patients. While management believes this sales effort was necessary to generate product awareness, the Company believes that marketing to oncologists and urologists, the primary care-givers for patients who may benefit from Quadramet, is necessary for adequate penetration into the market. The Company and DuPont Merck have begun discussions as to such marketing efforts."
That one paragraph contains some good info we have not been privy to before.
I tried to capture the important statements.
All this info was in the first four pages of the 10K. Am I losing it, or is CYTO beginning to be a little more straight forward?
Jody |
