ALL - You may have already seen the following information which was part of the last quarter's earning press release in May. But what I wanted to add to this was that I saw Kathleen Mullinix (Chairman) interviewed by Mark Haines on CNBC in May and I was extremely impressed with her presence and knowledge during the interview. Plus, she used a phrase that really caught my attention; and probably was the trigger that made me want to own SNAP stock.. the phase was 'sine qua non' [without which not. The indispensable element, condition, or quality.] A major link in the progress of biotechnology. and she seemed very confident in it's meaning to the pharmaceutical industry. I'm looking forward to the continued success of this company from their patented technology and large pharma relationships.
Laura
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Synaptic Pharmaceutical Reports First Quarter Results
PR Newswire - May 11, 1998 08:44
PARAMUS, N.J., May 11 /PRNewswire/ -- Synaptic Pharmaceutical Corporation (Nasdaq: SNAP) today reported financial results for the first quarter ended March 31, 1998.
Excerpt:
"We are pleased that the license fee received from Glaxo has resulted in positive earnings for the quarter," said Kathleen P. Mullinix, Ph.D., chairman, president and chief executive officer. "We are optimistic that our patent strategy and our growing patent position in the G protein-coupled receptor area will continue to yield revenue to the company as the G protein- coupled receptor area remains a prime focus for many of the larger pharmaceutical companies."
Synaptic Pharmaceutical Corporation has developed "human receptor-targeted drug design technology," which involves the use of cloned human receptors as targets for the design of potential drugs. As of March 1998, the company had five collaborative drug development programs with: Eli Lilly and Company for migraine headache, depression, obesity and smoking cessation; Merck and Co., Inc. for benign prostatic hyperplasia (BPH); Novartis Pharma A.G. for obesity; Grunenthal GmbH for the alleviation of pain; and the Warner-Lambert Company for a variety of disorders. The company has also licensed certain patent rights to Glaxo Group Limited.
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