The reason for the jump in stock prices is probably based on the following news release:
<<<CYGS Initiates Antisense Animal Studies
Business Wire - October 23, 1998 19:15
HOUSTON--(BUSINESS WIRE)--Oct. 23, 1998--Cryogenic Solutions Inc. (OTC BB:CYGS) announced it has recently entered into an agreement with the Southwest Foundation for Biomedical Research to undertake animal testing of its proprietary ssDNA expression vector. The tests will be conducted by Dr. Jason T. Kimata and supervised by Dr. Jean L. Patterson, chairman of the Department of Virology and Immunology.
The animal studies are intended to demonstrate the ability of the ssDNA expression vector to synthesize pharmacologically significant titers of sequence specific, antisense competent
oligodeoxyribonucleotides intracellularly in an animal model. "We expect to show in a primate that we have overcome the oligo delivery barrier and with controllable expression of ssDNA," said company president, Laurence Mealey. Tests will commence in late November.
In addition the company announced plans to begin shipping ssDNA expression vector kits in late November. The kits will be provided to researchers for experimental purposes only and are governed by Materials Transfer Agreements between CYGS and the research facilities. A number of premiere universities and hospitals have requested such agreements to date. The agreements cover commercialization of all discoveries and developments resulting from the use of the company's technology. CYGS is also entertaining overtures from a number of major pharmaceutical companies.
CONTACT: Cryogenic Solutions Inc., Houston
Dell Gibson, 713/780-1399 >>>
Again, there is no mention of this being a "CURE" for anything, but it is the vehicle by which the anti-sense therapies belonging to other companies can be introduced into living cells.
I'm hearing the 'guess' that this announcement will bring the stock up into the $3 - $5 range, and then when the tests are underway, it will slide up into the $7 - $8 range. In the highly unlikely event that the 'first' round of tests are successful (instead of the usual "fourth or fifth" round), then it's anybodys guess where it will go.
Hogger, RAdm
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