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Iomed Inc.(IOX [Amex]). STOCK FOR EVERYONE! <G>(Subject title rejects <G>) web site: iomed.com (no info about new technologies yet) Now Bid 2 Ask 2 1/4 For everyone <G> investors with financ background should feel good: Price/Cash=0.8 (Not so optimistic, "potential" at least 900K (+ 200K more) shares are not included; still about 1). Of course, price is below book. Real products, real sales, revenues. Operation history from 1974. biotech optimist should feel great: small molecules delivery: oligonucleotides (related to antisense tech) genes delivery (be careful here, it's not gene delivery in today gene therapy meaning, but there is some potential relation.) anti-angiogenic compounds add proteins to that, not bad program <G>. BTW, they are selling on line, clearly, internet company. And symbol... almost IOM, but even better. IOX definitely means it will be I0 times more expensive soon <G>. About new tech, please, read: biz.yahoo.com "Ocular Delivery IOMED is also refining prototype systems for the iontophoretic delivery of therapeutics into the eye. In in-vivo studies conducted in rabbits, the Company has been successful in demonstrating the delivery of small molecules,oligonucleotides, peptides, proteins and genes through the sclera (white of the eye) and into the retina. IOMED is currently screening anti-angiogenic compounds, which would prevent the proliferation of new blood vessels in the eye, for the treatment of age-related macular degeneration and diabetic retinopathy. Both diseases, which affect the retina, are common causes of blindness and there are no approved drug therapies for the treatment of either disease. ''The need to use needle injections to get many drug candidates into the eye significantly inhibits the ability to conduct effective clinical trials in the treatment of these and other diseases of the eye,'' stated Mr. Hamilton. ''We believe that a safe and effective iontophoretic drug delivery platform could offer the pharmaceutical industry a rapid, non-invasive alternative for the delivery of therapeutics to the eye without the risk of infection, bleeding, retinal detachment or retinal tissue damage''. Does it work? Who cares! <G>(Well,at least there are very interesting possibilities. Let's hope procedure is effective, not too painful/unpleasant and may be combined with some others). Even if small percentage of such claims are correct and at least one of the methods works, market is huge. I am not aware of any medical/scientific publication from the Company that may support such claims, however. If you are not familiar with "Ionophoresis", which is, actually, electrophoresis, please, read this: "IONTOPHORETIC DRUG DELIVERY AND ITS ADVANTAGES Iontophoretic drug delivery systems are designed to overcome many of the limitations associated with many other drug delivery methods. Iontophoresis is an active method of transdermal drug delivery in which water-soluble, ionized (electrically charged) drugs are transported through the skin for local or systemic therapeutic applications by applying a low level, external electrical current. " Method is known and widely used for decades. Are new applications real? Marketable? If yes, how many years and M$ will be necessary to reach the market? (For method description and it's advantages, please, look at BACKGROUND ON DRUG DELIVERY SYSTEMS and IONTOPHORETIC DRUG DELIVERY AND ITS ADVANTAGES at pp 4-5 of 10K,seems to be very reasonable description. sec.gov From Dec 98, 6 insiders (3 VP, 2 Dir, 1 <G> CFO) purchased about 70 K. Check 4 s here if you have time. Don't miss 4s from 12.10. You will understand what I mean. sec.gov As I promised, however, stock is for everyone <G>... They are in red - (115,000) last Q "Since its inception, the Company has generally incurred operating losses and may incur additional operating losses over the next several years as a result of anticipated costs associated with increases in internally funded research, development and clinical trial activities relating to new applications for its iontophoretic drug delivery technologies." Convertebles (don't stop reading here, continue, your patiency will be rewarded! <G>). They are from Elan's agreement; conversion 1:1. That's major part of 900K "potential" dilution mentioned before. IOX had agreement with Novartis (Who didn't have one with Novartis?), and it was terminated by Novartis. Not the best sign. Ned M. Weinshenker, Ph.D., president and CEO of IOMED noted that Novartis "has elected to focus its development efforts on an alternative drug delivery system which was under evaluation at Sandoz Corporation prior to its merger with Ciba-Geigy" (collaboration was started in 1995 by Ciba-Geigy). In any case, "Beginning January 1, 1999, Novartis will no longer provide contract research funding and the Company will focus its development efforts on self funded, internal research and development programs, while it seeks new collaborative research partners." But, "In addition, Mr. Weinshenker stated "Following the expiration of the agreement, Novartis' rights to exclusivity in those fields covered by the agreement will terminate, and IOMED will be free to apply the technologies developed for Novartis to any available drug candidates, either independently or on behalf of other parties. Such application of the technology may shorten our future product development cycles." Mr. Weinshenker also noted that Novartis remains a shareholder in IOMED."( July 2, 1998). Sounds like "regained rights" small biotech happiness.<G> Still, "In connection with their collaboration, the Company granted Novartis a perpetual, non-exclusive, royalty bearing license to certain of the Company's iontophoretic technology which will survive the termination of the collaboration. Novartis may, pursuant to the royalty-bearing license, independently develop products using the licensed technology, including products which may compete directly with those currently marketed or under development by the Company." Well, if Novartis can make money on it, royalty-bearing license may sound not too bad. IOX last invention for painless IV (and similar), Numby, may not be very promising. Yes, it may be deeper and faster than geles, but sensitivity to electricity is very different for different patients and organs; special equipment, however simple and cheap, but still required, as well as supervision. Creams may be more competetive. "The Company recently introduced its local dermal anesthesia products into the market place and, to date, has not realized significant revenue from the sales of such products." IOX will present 7-9 Apr at "Sutro & Co. Health Care Conference, April 7-9 at the Loews Coronado Bay Resort near San Diego, California. Nearly 100 public and private companies and panels of industry experts will gather under the conference theme ''Realizing Undiscovered Values.'' biz.yahoo.com Will they realize? <G> | ||||||||||||
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