Here is the Dow Jones News article on Dimethaid that appeared Friday.
Warren
T =Dimethaid Links Stk Price Rise To Online Interview >T.DMX
By Lori McLeod
TORONTO (Dow Jones)--Dimethaid Research Inc.'s (T.DMX) shares have risen 23% in the past two trading sessions, likely due to an interview that ran on Web site Stockhouse.com Wednesday, Peter Block, a spokesman for Dimethaid, told Dow Jones.
In Toronto trading Friday, Dimethaid's shares are up 0.16, or 4%, to 4.06, on about 555,000 shares.
Block said the interview introduced Dimethaid to a "new audience" of potential investors. Block noted that during his interview with Stockhouse, he reiterated that Dimethaid expects to sign a marketing partnership in the U.S. for its PENNSAID product by the end of May. PENNSAID is a topical lotion for osteoarthritis pain relief.
Dimethaid is "confident" a U.S. marketing partnership deal, with a "multi-national" pharmaceutical company, will be signed before the end of May, Block said. An announcement would follow immediately, he added. Dimethaid has finished formal clinical trials of PENNSAID and submitted for regulatory approval in Canada, the U.K. and the U.S. It expects to receive approval for the product in all three countries sometime this year, Block said.
Block also said Dimethaid executives continue to tell their story to potential investors, noting they did so at a conference earlier Friday. However, this effort has been going on for about six to eight months, he said.
Dimethaid, Toronto, is a pharmaceutical company involved in the development of therapeutic solutions that minimize the unwanted effects of drug therapy on the body.
Block noted Dimethaid's topical delivery system has the potential to be used for many other localized drug treatments.
-By Lori McLeod; 416-943-7800; lori.mcleod@dowjones.ca
(END) DOW JONES NEWS 05-07-99 03:24 PM- - 03 24 PM EDT 05-07-99 |
