Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Procyon Biopharma Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Montana Wildhack who wrote (314)	7/4/2001 11:01:36 PM
From: thebeach	Read Replies (1) \| Respond to of 356

From the Analytical Investor: An update on well-run R&D biotech Procyon [PBP,TSE:$0.94]finds the Company reducing its orphan status by gaining more institutional support with the completion of a 1 million share private placement @$1.02/share, with two Quebec-based institutions each taking 500,000 shares. With over $12 million on hand @ Mar.31, the financing is useful but, unlike many of its peers, was not essential. Principal objective was to qualify PBP for the Quebec Stock Savings Plan, which will be helpful in broadening local market interest. While market performance, as with most of our juniors, has been disappointing in recent months, PBP continues to make solid progress toward bringing its two advanced-stage products, Colopath and Fibrostat, to market. The latter, a topical cream for the treatment of severe scars resulting from surgery and burns, is in the final stages of Phase ll clinical trials at 8 centres across Canada.. Phases lll trials are expected to get underway in Q3. Canadian rights have been licensed to the Company's development partner, Crystaal, a division of Biovail Corp. for $1.5 million for development through Phase lll, plus a double digit royalty. U.S. trials are expected to get under way by Q2/02. With no comparable product in sight, the potential market over time is estimated to be in the area of US$ 500 million. While it is a mug's game to endeavor to forecast earnings at this stage of corporate development, PBP is clearly developing products with significant market potential. With cash in hand and competent management headed by CEO Hans Mader, two products close to revenue generation and two impressive cancer candidates [PSP94 for prostate cancer and the ANA platform with multiple cancer potential] for an encore, we believe patient investors in PBP will be very well rewarded over the next 12 months and beyond. The Analytical Investor Is published 11 times a year Annual Subscription US$179.95……C$249.95 Mail cheque or money order to: The Analytical Investor Inc. 72 Nottinghill Rd. Thornhill, Ont L3T 4Y2 The information contained herein is for information purposes only and is not to be considered an offer to engage in trade in the securities mentioned. The staff of TAI may, from time to time, buy, sell or hold the securities mentioned.