Watching GNLB this morning.....check it out
::)
May be getting ready to take off members.
Parked just above the 50 day. :o
From Street.com
Genelabs Technologies (GNLB:Nasdaq - commentary - research) rose 24.4% after the company said that its Prestara drug has been granted orphan drug status by the Food and Drug Administration. The investigational drug is used for the treatment of lupus. Specifically, the FDA said that the drug qualifies for orphan status as an indication for the "prevention of loss of bone mineral density in systemic lupus erythematosus patients on glutocorticoids." Genelabs says that it has scheduled a meeting with the FDA to discuss the company's options regarding the development of the drug.
The chart sounds too.
after a breather,we have some action
But the runup doesn't want to be persistent ...
Active in the pre-market +10.67%
Another bio company and it is in uptrend now.
Has higher lows:
$0.37 -> $0.42 -> $0.46 up 26% in two days.
Buy on pull back may be n $0.50
Taking another stab at it....back above the 50-day ema.
Indicators have turned north,volume up nice today.
Let's see what's cooking.
Press Release Source: Genelabs Technologies, Inc.
Genelabs Announces Results From Preliminary Analysis of an Open Label Study of Its Lupus Drug Prestara(TM)
Thursday August 18, 8:05 am ET
REDWOOD CITY, Calif., Aug. 18 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB - News) today announced positive results from a preliminary analysis of an open label clinical trial, Study GL03-01, which has met its primary objective of maintaining the bone mineral density (BMD) of women with systemic lupus erythematosus (SLE or lupus) receiving glucocorticoids. This clinical trial measured the effect of Prestara(TM) on BMD for a 12-month period following completion of the company's 6-month double-blind, placebo-controlled clinical trial (Study GL02-01), the results of which were announced in October 2004.
(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19990728/GNLBLOGO )
The primary endpoint of Study GL03-01 was maintenance of bone mineral density at the lumbar spine for patients receiving 200 mg of Prestara per day, which has been the standard dose Genelabs has used in clinical evaluation of Prestara. All patients in Study GL03-01 received Prestara(TM), either 100 or 200 mg per day, with approximately two-thirds of the patients receiving 200 mg per day. While the trial was not designed with a placebo control, it was randomized and all of the patients' BMD scans were sent to a centralized reading site. All patients enrolled in Study GL03-01 were taking glucocorticoids, which normally cause a decrease in bone mineral density.
Preliminary results of Study GL03-01 demonstrated that patients who received 200 mg of Prestara per day increased their BMD at the lumbar spine by approximately 0.9% during the 12 months they were enrolled in Study GL03-01. Results of Study GL03-01 also demonstrated that patients who received a lower dose of Prestara, 100 mg per day, did not increase their BMD during the clinical trial, and in fact lost a measurable amount of bone mineral density at the lumbar spine over the 12-month period of Study GL03-01. The patients who had previously received 200 mg per day of Prestara in the earlier Study GL02-01 and who were then randomized to continue receiving 200 mg of Prestara in Study GL03-01 experienced an increase in BMD at the lumbar spine over each successive 6-month interval in the 18-month duration of the combined studies. In addition, the safety profile for Prestara in this study was consistent with that seen in previous clinical studies.
"The preliminary analysis of the results from this clinical trial are supportive of our belief that 200 mg per day of Prestara, the dose we have used in most of our clinical studies, improves the bone mineral density of women with lupus, and that these increases accumulate over time," stated James A.D. Smith, President and Chief Executive Officer. "The validation provided by the data from this trial is an important consideration as we evaluate the future development options for Prestara for lupus. We strongly believe in the benefits that Prestara provides to patients suffering from the debilitating effects of lupus, and this trial indicates the protective effect of 200 mg of Prestara daily on the patients' bone mineral density. However, in determining our future development plans we must weigh these benefits against the standards required by the FDA for approval of this investigational drug. Our analyses of these study results are continuing, however we expect to be able to submit them to the FDA in advance of an upcoming meeting, which we hope will provide additional clarity on what may be needed going forward."
Study GL03-01 enrolled 115 women with lupus who were randomized into one of two Prestara treatment groups. Genelabs conducted this open label trial to determine the long-term effects of Prestara on bone mineral density beyond an initial six-month period (which was measured in the company's double-blind Phase III clinical trial, Study GL02-01). While Study GL03-01 provides useful data on the positive effect of Prestara on the BMD of women with lupus, the U.S. Food and Drug Administration (FDA) normally does not consider open label studies to be sufficient to support approval of a new drug. Genelabs has scheduled a meeting with the FDA to discuss the company's options for the development of Prestara for lupus, including the results of this clinical trial.
Background of Prestara for Lupus and Bone Mineral Density
Genelabs previously completed a placebo-controlled one-year Phase III clinical trial, designated Study GL95-02, which evaluated the ability of Prestara to improve or stabilize clinical outcome and disease symptoms in women with mild to moderate lupus. Nested within this clinical trial was a separate study to assess the effect of Prestara on bone mineral density in women with lupus who were taking glucocorticoids. An analysis of the patients who had pre- and post-treatment bone mineral density measurements showed that the group of patients receiving Prestara had significantly increased bone mineral density, compared to a decrease in bone density for the group of patients on placebo. The FDA subsequently issued an approvable letter to Genelabs, which required the successful completion of an additional clinical trial providing sufficient evidence to confirm the positive effect of Prestara on the patients' bone mineral density. Genelabs conducted a double-blind Phase III clinical trial, designated Study GL02-01, which was designed to satisfy FDA's requirement if the results were positive. In October 2004 Genelabs announced that the results of Study GL02-01 were not statistically significant in favor of Prestara. Patients who completed Study GL02-01 were eligible to enroll in Study GL03-01, a one-year follow-on clinical trial which treated all patients with Prestara.
About Genelabs
Genelabs Technologies, Inc. is a biopharmaceutical company focused on the discovery and development of pharmaceutical products to improve human health. We have built drug discovery and clinical development capabilities that can support various research and development projects. Genelabs is currently concentrating its capabilities on developing a late-stage product for lupus, discovering novel compounds that selectively inhibit replication of the hepatitis C virus and advancing preclinical development of compounds from this hepatitis C virus drug discovery program. We believe that these high-risk, potentially high reward programs focus our research and development expertise in areas where we have the opportunity to generate either first-in-class or best-in-class products that will address diseases for which current therapies are inadequate. For more information, please visit www.genelabs.com.
NOTE: Genelabs® and the Genelabs logo are registered trademarks and Prestara(TM) is a trademark of Genelabs Technologies, Inc.
NOTE ON FORWARD LOOKING STATEMENTS AND RISKS: This press release contains forward-looking statements including statements regarding the future development of Prestara(TM), final analysis of the open label study, potential meetings with the FDA and the outcomes of any such meetings, possible factors that could affect a future clinical trial and prospects for our HCV program. These forward-looking statements are based on Genelabs' current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from the statements made. Uncertainties and risks include, without limitation, further analysis of the data from the open label study; adverse results from the open label study or Taiwan study; an adverse response from the FDA; a determination to discontinue development of Prestara; regulatory problems or delays regarding Prestara; potential de-listing from the Nasdaq National Market; fluctuations in Genelabs' stock price; factors affecting our HCV drug discovery program; increases in expenses and Genelabs' capital requirements and history of operating losses. Please see the information appearing in the Genelabs' filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, under the captions "Risk Factors" and "Forward-Looking Statements" for more discussion regarding these uncertainties and risks and others associated with the company's research programs, early stage of development and other risks which may affect the company or cause actual results to differ from those included in the forward-looking statements. Genelabs does not undertake any obligation to update these forward-looking statements or risks to reflect events or circumstances after the date of this release.
CONTACT:
Matthew M. Loar
Chief Financial Officer
+1-650-562-1424
--------------------------------------------------------------------------------
Source: Genelabs Technologies, Inc.
Big white Marubozu candlestick today.
Could be back in play.
Support @ 0.60.....Resistance @ 0.69
BLOCKBUSTER NEWS ARE SCHEDULED FOR DECEMBER 12, 2005. THIS ONE COULD GO PAST $1 AFTER THE NEWS ARE OUT
GNLB will officially present the results of its groundbreaking PHASE 2 trials for its Hepatitis E vaccine candidate on December 12 at a worldwide infectious dicease conference to be held in Washington DC. The study included 2000 subjects and was sponsored by several agencies.
This will be the first commercial vaccine for Hepatatis E in the world. GlaxoSmithcline (GSK) signed an exclusive worldwide license with GNLB in November 2004 after the results of the Phase 1 trial results were shared with potential partners. GSX was selected as the partner in this venture.
GSK made an initial payment of $750,000. GNLB gained 20% when the announcement was made. The agreement calls for GNLB to receive handsome royalty payments from GSK on this $400M/year drug market.
Hepatitis E is a growing concern in developing countries. The mortality rate can be very high depending on the health, age, and sex of the infected individual.
Here is a little primer on Hepatitis E (read the section pertaining vaccines):
http://www.who.int/mediacentre/factsheets/fs280/en/
If you really think about it, anything under 50c is dirt cheap with so much potential. Why do you think institutions are hanging on and even adding despite the pps being this low??
When the PHASE 2 results come out, GNLB will be in Pandemonium. This is the most advanced hepatitis E vaccine at Phase 2. No one esle is even near. Having giant GlaxoSmithkly by your side says a lot IMO
I don't believe GSK would make a big down payment to be part of this opportunity if the results were not excellent.
GNLB has another potentially blockbuster Drug candidate in Prestara, potentially the first major drug for the treatment of Lupus (Competes with LJPC). The company received organ drug status and an "Aprovable Letter" from the FDA. A meeting with the FDA on this subject is upcoming according to a recent PR.
GNLB's is also developing several vaccine candidates for Hepatitis C in association with Gilead Sciences. Gilead already made a $11M payment for GNLB to accelerate drug development. GNLB will receive royalty payments and Gilead will concentrate in the sales/marketing/commercialization end of the business.
The Hepatitis C is market is estimated to be about $3 Billion now and increasing to $5 Billion plus by 2010.
GNLB has $14M in cash, enough to carry the company for at least a year since it is already generating revenues from its partnership with Gilead Sciences. The company reported its best quarter ever in terms of revenues (royalties from Gilead) and losses last week.
The company has been granted until mid March 2006 to regain compliance with the Nasdaq under $1 rule.
GNLB could be a huge gainer in the next few weeks. This is a ground floor opportunity. Institutions have increased their stake in GNLB from the 6/30 to the 9/30 filing. Not many stocks under $1 can make that claim. The largest institutional investor is Biovail with over 8M shares followed by J.P. Morgan Chase with almost 2M shares
I suggest that you take the time to hear the company update to institutional investors at the Rodman & Renshaw Techvest 7th Annual Healthcare Conferenc held on Monday, November 7, 2005 (link in Yahoo's site for GNLB Headlines section).
** Do your own DD and invest at your own risk (I did after I read this e-mail from an investment guru)**
Setravis,
Any thoughts on the giant volume today ?
Roll Tide !
Quote from: fill_the_gap on November 23, 2005, 02:51:21 PM
Setravis,
Any thoughts on the giant volume today ?
Roll Tide !
I don't know what's up with all that volume.
Somebody must know something....put a watchful eye on it the next market day.
StockCharts seems to be down at this time ,had to use this chart from Yahoo
Didn't roll in the last 2 games... :'(
I got my back up USC....Go Trojans ! ;D
Happy Thanksgiving.
Last Trade: 0.48
Trade Time: Nov 23
Change: 0.01 (2.13%)
Prev Close: 0.47
Open: 0.48
Bid: 0.01 x 100
Ask: 9,000.00 x 100
1y Target Est: 1.00
Day's Range: 0.47 - 0.58
52wk Range: 0.36 - 1.40
Volume: 7,368,466
Avg Vol (3m): 823,209
Market Cap: 42.66M
P/E (ttm): N/A
EPS (ttm): -0.11
Div & Yield: N/A (N/A)
Looks, IMO, I had better say. Taking a stab at the 50-dma.
May be forming a Rounding Bottom (reversal).
Volume: 1,056,211
Avg Volume (3m): 773,725
Technicals
Percentage Gainer
Last Price Quote is:
6.34%above 13-day EMA
0.35%above 50-day EMA
RS Rating: 11
Fundamentals
Key Data:
Market Cap (M): $41.59
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
bought 40k shares today at 0.51...
I highly suggest you listen to the conference call that they had on the 30th. It was what made me buy the stock... don't believe what the pumpers say... due your own dd.
http://www.investorcalendar.com/IC/CEPage.asp?ID=97892&CID=
nothing really that impressive for the first 18 minutes, then, WHAMMO...
Listen from minutes 18:30 to 22... I've paraphrased what they said (mostly b/c I couldn't type that fast... lol!!! but it is clear that Dec 12th is going to be a huge day.
(slide 20)
"we entered into a license with GSK to develop vaccine for Hep E... Same team that developed GSK Hep A vax is developing HEp E vaccine...
vax has been 100% effective in animal model
2 phase 1 studies showed it produced human antibodies to hep E.
2000 subject trial conducted under IND. Objective was to determine if vax candidate prevented disease... double blind, placebo controlled... based on results of this trial about a year ago, gsk paid a milestone to genelabs that was triggered under the agreement.
however, they have not publically disclosed the results of that clinical trial yet, and are planning to do that in 2 weeks at a meeting of the american society of tropical disease...on December 12th, so we are looking forward to that. ***LONG PAUSE*** <gnlb spokesperson goes on about other programs>"
:)
good luck
Gambler
good info on the trial
from a bioethics journal, but whatever...
http://www.bioethics.net/journal/j_articles.php?aid=713
"The Phase II/III trials of the vaccine, with RNA soldiers as subjects, were completed in late 2003, but the results have yet to be made public. "
This is what is being made public on Dec 12.
The main reason why the Phase II results have not been released yet is because the vaccine has been undergoing long-term immunogenicity testing to ensure that the large investment required for a manufacturing establishment is warranted.
Now, GSK announced several months ago that it is building a plant to manufacture vaccines. Did noy say what vaccines, but given the region where the plant is being (or will be built), I would suspect is for Hep E.
Do your own DD
I give this a 95% chance that we get a positive pr about hep E vaccine tomorrow, premarket.
which is why I am long 40k shares after I left nabi.
http://www.3stocksonfire.org/trading/index.php?topic=3855.0
We'll see if I have egg on my face tomorrow ;)
gambler
GNLB is not an OTCBB or Pink Sheet listed.
This pick is located on the Stock Picking Board....here..
http://www.3stocksonfire.org/trading/index.php?topic=355.0
IMHO, still looks like it is trying to form a Rounding Bottom (Reversal) Pattern.
BRIEF: For the nine months ended 30 September 2005, Genelabs Technologies, Inc.'s revenues totaled $5.1M, up from $1.8M. Net loss from continuing operations fell 40% to $8.6M. Revenues reflect higher contract revenue from research collabration and license agreement with Gilead Sciences. Net income was offset by lower research & development expense, decreased general & administrative expense and higher interest income, net. http://www.genelabs.com
Technicals
Close Above the 50-day EMA
Last Price Quote is:
5.70%above 13-day EMA
0.98%above 50-day EMA
RS Rating: 16
Fundamentals
Key Data:
Market Cap (M): $41.77
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
Overlooked this news of Reverse Split.......
************************************************
• Genelabs Announces Board Approval of Reverse Stock Split
PR Newswire (Tue, Dec 6)
Press Release Source: Genelabs Technologies, Inc.
Genelabs Announces Board Approval of Reverse Stock Split
Tuesday December 6, 6:30 pm ET
REDWOOD CITY, Calif., Dec. 6 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB - News) announced today that its board of directors has approved the implementation of a one-for-five reverse split of the company's common stock. The reverse split was previously approved by the company's shareholders at the company's annual shareholder meeting on June 14, 2005.
Genelabs' common stock will begin trading on a split-adjusted basis when the market opens on Monday, December 19, 2005. For a period of 20 trading days beginning December 19, 2005, Genelabs' common stock will trade on a post-split basis under the trading symbol "GNLBD" as an interim symbol to denote its new status. After this 20 trading day period, Genelabs' common stock will resume trading under the symbol "GNLB."
The reverse split is intended to broaden Genelabs' investor base and help the company regain compliance with Nasdaq's $1.00 minimum bid price listing requirement by increasing the share price and decreasing the number of shares, warrants and options outstanding.
Genelabs had 88,868,865 shares of common stock issued and outstanding at the end of trading on December 5, 2005, the date of board approval of the reverse split. When the market opens on December 19, 2005, there should be approximately 17,773,773 shares issued and outstanding if no warrants or options are exercised in the interim.
Genelabs will not issue fractional shares of common stock following the reverse split. Shareholders otherwise entitled to fractional shares will receive a cash payment equal to the average closing price of Genelabs common stock for the 30 trading days ending five days preceding the effective date of the reverse split. Additional information about the reverse stock split is available in Genelabs' definitive proxy statement filed with the Securities and Exchange Commission on April 29, 2005.
About Genelabs
Genelabs Technologies, Inc. is a biopharmaceutical company focused on the discovery and development of pharmaceutical products to improve human health. We have built drug discovery capabilities that can support various research and development projects. Genelabs is currently concentrating these capabilities on discovering novel compounds that selectively inhibit replication of the hepatitis C virus and advancing preclinical development of compounds from this hepatitis C virus drug discovery program, while also developing a late-stage product for lupus. We believe that these high-risk, potentially high reward programs focus our research and development expertise in areas where we have the opportunity to generate either first-in-class or best-in-class products that will address diseases for which current therapies are inadequate. For more information, please visit www.genelabs.com.
NOTE: Genelabs® and the Genelabs logo are registered trademarks and Prestara(TM) is a trademark of Genelabs Technologies, Inc.
NOTE ON FORWARD LOOKING STATEMENTS AND RISKS: This press release contains forward-looking statements including statements regarding the timing of the effectiveness of the reverse split of Genelabs' common stock and the trading price of Genelabs common stock after the reverse split is implemented. These forward-looking statements are based on Genelabs' current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from the statements made. Uncertainties and risks include, without limitation, fluctuations in Genelabs' stock price; events which reduce Genelabs' future prospects, problems in initiating manufacturing or IND-enabling studies; failures or setbacks in our HCV research programs or in our collaboration with Gilead; progress and announcements by competitors regarding their HCV programs; regulatory problems or delays regarding Prestara(TM), including an adverse response from the FDA or a determination to discontinue development of Prestara; increases in expenses and Genelabs' capital requirements and history of operating losses. Please see the information appearing in Genelabs' filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, under the captions "Risk Factors" and "Forward-Looking Statements" for more discussion regarding these uncertainties and risks and others associated with the company's research programs, early stage of development and other risks which may affect the company or cause actual results to differ from those included in the forward-looking statements. Genelabs does not undertake any obligation to update these forward-looking statements or risks to reflect events or circumstances after the date of this release.
Contact:
Matthew M. Loar
Chief Financial Officer
Phone: 650-562-1424
--------------------------------------------------------------------------------
Source: Genelabs Technologies, Inc.
Possible double bottom play in.
Up in the after hours...
GENELABS TECH INC (NasdaqSC:GNLB) Delayed quote data
After Hours (RT-ECN): 2.30 0.10 (4.55%)
Company reported higher revenue/hep C virus drug, in collaboration with Gilead Sciences.
Revenue $1.7M vs. .4M same qtr year ago.
Technicals
Close Above the 50-day EMA
Percentage Gainer
Last Price Quote is:
14.44%above 13-day EMA
7.49%above 50-day EMA
RS Rating: 9
Fundamentals
Key Data:
Market Cap (M): $35.01
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
Up today 110% :o :o :o :o :o
next stop $2.50 tomorrow......
yessssssss ;D ;D ;D
I Love this game
Quote from: jpm on June 05, 2006, 11:25:54 AM
Up today 110% :o :o :o :o :o
next stop $2.50 tomorrow......
yessssssss ;D ;D ;D
I Love this game
So do you have GNLB? I haven't seen you post on it before?
;D
GNLB----Huge volume with good news
from 0.76-2.45,222.3% up....
:o
Volume: 24,137,126
Avg Vol (3m): 85,346.2
Technicals
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
185.84%above 13-day EMA
110.45%above 50-day EMA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $13.72
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
bizjournals.com
Genelabs inks hepatitis deal with Novartis
Monday June 5, 12:35 pm ET
Genelabs Technologies Inc. inked a research and sales deal with drug giant Novartis, which will develop and sell products using Genelabs' hepatitis C research program.
Redwood City-based Genelabs (NASDAQ: GNLB - News) will get about $20 million over two years, including an up front payment of $12.5 million. It also stands to get royalties on sales of any successful products from the deal.
James Smith, president and CEO of Genelabs, said drug candidates found using his company's technology may complement other hepatitis C drugs being developed by Novartis (NYSE: NVS - News), which is based in Basle, Switzerland.
Hepatitis C is a virus that attacks the liver. No existing vaccine can protect against infection by the virus.
Genelabs has about 66 employees. Novartis has 90,000.
Published June 5, 2006 by San Francisco Business Times
news on CNBC...
Novartis will pay $5 dollars a share for Genelabs Technologies (GNLB)...
not published on the websites from Novartis, Genelabs Technologies & CNBC :P !!!
latest news from Monday:
http://biz.yahoo.com/bizj/060605/1297795.html?.v=1
Motley Fool
Novartis Can't Say No
Wednesday June 7, 12:14 pm ET
By Stephen D. Simpson, CFA
I'm beginning to wonder whether there are any deals that Novartis (NYSE: NVS - News) hasn't accepted in the past few quarters. In the last few days, the company has sealed three separate deals to add compounds to its pipeline -- at the cost of hard cash.
Today, news broke that Novartis will be buying British biotech company NeuTech Pharma for about $569 million in cash. For that price, Novartis is getting a company focused on treatment-resistant infections, with two late-stage drugs in the pipeline. Mycograb, targeted at dangerous fungal infections, could be submitted for U.S. approval in 2009, while Aurograb (for staph infections) looks like it's about a year later in the queue.
But wait, there's more!
Yesterday, the company announced a deal with Human Genome Sciences (Nasdaq: HGSI - News) for the rights to Albuferon, a hepatitis C treatment. Assuming this drug reaches approval (a phase 3 trial should begin later this year), the companies would cooperate in the U.S. market, while Novartis would handle foreign sales and distribution. Under this deal, Novartis pays $45 million up front and potentially more than $500 million in future milestones.
But wait, there's even more!
Novartis also announced a licensing deal with Genelabs Technologies (Nasdaq: GNLB - News). The deal will cost Novartis about $20 million over two years, and as much as $175 million in potential milestones, if a successful drug comes out of this agreement. The disease in question? Yep, you guessed it -- hepatitis C.
Obviously, Novartis wants to establish a major franchise in hepatitis C, given both of these deals and past agreements with Idenix (Nasdaq: IDIX - News) and Anadys (Nasdaq: ANDS - News). There's certainly a ripe and underserved market here, and I also think that Novartis has a logical underlying philosophy. It's looking at several different and possibly complementary approaches to the disease, with the hope of combining them in different ways to treat various subtypes of the disease and patients who don't adequately respond to existing therapies.
If you're a company with a hep-C drug or a development program in that area, stay by the phone -- Novartis will probably be calling you, too. As for Novartis shareholders, I'm not quite sure what to think. I know it takes money to build a pipeline, but these guys have been doing deals left and right. Then again, we're talking about a strong pharmaceutical company in a weak sector that's still somewhat undervalued -- not exactly the worst story I've seen this week.
Fool contributor Stephen Simpson but has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).
Novartis Can't Say No
Wednesday June 7, 12:14 pm ET
By Stephen D. Simpson, CFA
I'm beginning to wonder whether there are any deals that Novartis (NYSE: NVS - News) hasn't accepted in the past few quarters. In the last few days, the company has sealed three separate deals to add compounds to its pipeline -- at the cost of hard cash.
Today, news broke that Novartis will be buying British biotech company NeuTech Pharma for about $569 million in cash. For that price, Novartis is getting a company focused on treatment-resistant infections, with two late-stage drugs in the pipeline. Mycograb, targeted at dangerous fungal infections, could be submitted for U.S. approval in 2009, while Aurograb (for staph infections) looks like it's about a year later in the queue.
But wait, there's more!
Yesterday, the company announced a deal with Human Genome Sciences (Nasdaq: HGSI - News) for the rights to Albuferon, a hepatitis C treatment. Assuming this drug reaches approval (a phase 3 trial should begin later this year), the companies would cooperate in the U.S. market, while Novartis would handle foreign sales and distribution. Under this deal, Novartis pays $45 million up front and potentially more than $500 million in future milestones.
But wait, there's even more!
Novartis also announced a licensing deal with Genelabs Technologies (Nasdaq: GNLB - News). The deal will cost Novartis about $20 million over two years, and as much as $175 million in potential milestones, if a successful drug comes out of this agreement. The disease in question? Yep, you guessed it -- hepatitis C.
Obviously, Novartis wants to establish a major franchise in hepatitis C, given both of these deals and past agreements with Idenix (Nasdaq: IDIX - News) and Anadys (Nasdaq: ANDS - News). There's certainly a ripe and underserved market here, and I also think that Novartis has a logical underlying philosophy. It's looking at several different and possibly complementary approaches to the disease, with the hope of combining them in different ways to treat various subtypes of the disease and patients who don't adequately respond to existing therapies.
If you're a company with a hep-C drug or a development program in that area, stay by the phone -- Novartis will probably be calling you, too. As for Novartis shareholders, I'm not quite sure what to think. I know it takes money to build a pipeline, but these guys have been doing deals left and right. Then again, we're talking about a strong pharmaceutical company in a weak sector that's still somewhat undervalued -- not exactly the worst story I've seen this week.
today let´s play rock and roll...
in pre-market +15%
Press Release Source: Genelabs Technologies, Inc.
Genelabs Announces Forecast of Mid-Year Cash Level and Notification From Nasdaq
Friday June 9, 8:00 am ET
REDWOOD CITY, Calif., June 9 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB - News) announced today that, after its receipt of $12.5 million in up-front payments under its recently announced agreement with Novartis, Genelabs expects its June 30, 2006 cash and cash equivalents to be approximately $15 million. The mid-year cash level anticipated by the company accounts for costs related to closing the transaction and anticipated second quarter operating expenses. The company estimates that this cash balance together with anticipated funding under its hepatitis C virus collaborations with Novartis and Gilead, and in the absence of earning any milestones, would be sufficient to fund its current operations until approximately the beginning of 2008.
"We are committed to maximizing value for our shareholders," stated James A.D. Smith, President and Chief Executive Officer. "The recent collaboration provides us with additional needed cash and allows us to continue to move forward with our three separate hepatitis C virus drug discovery programs, two of which now have top-notch corporate partners. There is a great need for improving the safety, efficacy and dosing convenience in HCV treatment, which we believe will most likely be accomplished through multi-drug treatment regimens. Because each of our programs focuses on a distinct anti-HCV mechanism, they have the potential to be complementary in such a regimen. In addition to the cash infusion, partnering also provides substantial potential upside with reduced risk, allowing us some additional flexibility as we continue to evaluate new opportunities."
Genelabs also announced that on June 5, 2006, the company received notification from The Nasdaq Stock Market that for 30 consecutive business days the bid price of the company's common stock had closed below the $1.00 minimum per share required for continued listing under Marketplace Rule 4310(c)(4). The company has 180 calendar days, or until December 4, 2006, to regain compliance. The Nasdaq letter also indicated that if the bid price of the company's common stock closes at $1.00 per share or higher for a minimum of 10 consecutive business days, Genelabs would regain compliance. The 30 consecutive business day period for which Genelabs common stock closed below $1.00 per share ended on June 2, 2006, the last trading day before Genelabs announced its HCV collaboration with Novartis. On each of the four business days since Genelabs received the letter, shares of Genelabs' common stock have closed with a bid price greater than $1.80 per share.
Genelabs is presently in the process of appealing an earlier Nasdaq staff determination related to its compliance with Nasdaq Marketplace Rule 4310(c)(2)(B), which requires the company to have either a minimum of $2,500,000 in shareholder's equity or a market capitalization of $35,000,000.
About Genelabs
Genelabs Technologies, Inc. is a biopharmaceutical company focused on the discovery and development of pharmaceutical products to improve human health. We have built drug discovery and clinical development capabilities that can support various research and development projects. Genelabs is currently concentrating its capabilities on developing a late-stage product for lupus, discovering novel compounds that selectively inhibit replication of the hepatitis C virus and advancing preclinical development of compounds from this hepatitis C virus drug discovery program. We believe that these high-risk, potentially high reward programs focus our research and development expertise in areas where we have the opportunity to generate either first-in-class or best-in-class products that will address diseases for which current therapies are inadequate. For more information, please visit www.genelabs.com.
NOTE: Genelabs® and the Genelabs logo are registered trademarks and Prestara(TM) is a trademark of Genelabs Technologies, Inc.
NOTE ON FORWARD LOOKING STATEMENTS AND RISKS: This press release contains forward-looking statements including statements regarding the June 30, 2006 cash level, the length of time which the company's cash would be able to fund current operations, the receipt of research funding, the earning of milestone payments, the appeal of the staff determination letter from Nasdaq, the continued trading of the company's stock on the Nasdaq Capital Market, and the compliance with Nasdaq Capital Market listing requirements. These forward-looking statements are based on Genelabs' current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from the statements made. Uncertainties and risks include, without limitation, delisting of Genelabs common stock from the Nasdaq Capital Market; fluctuations in Genelabs' stock price resulting in the fluctuation of the market capitalization of Genelabs; potential development failures or setbacks in our HCV research programs or in our collaborations with Novartis and Gilead; progress and announcements by competitors regarding their HCV programs; regulatory problems or delays regarding Prestara(TM), including an adverse response from the FDA or a determination to discontinue development of Prestara; lease termination; and increases in expenses and Genelabs' capital requirements. Please see the information appearing in Genelabs' filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, under the captions "Risk Factors" and "Forward-Looking Statements" for more discussion regarding these uncertainties and risks and others associated with the company's research programs, early stage of development and other risks which may affect the company or cause actual results to differ from those included in the forward-looking statements. Genelabs does not undertake any obligation to update these forward-looking statements or risks to reflect events or circumstances after the date of this release.
Contact: Matthew M. Loar
Chief Financial Officer
Phone: 650-562-1424
--------------------------------------------------------------------------------
Source: Genelabs Technologies, Inc.
AP
Genelabs Can Fund Operations Until 2008
Friday June 9, 10:57 am ET
Genelabs Says It Can Fund Operations Until 2008 With Current Cash Obligations
REDWOOD CITY, Calif. (AP) -- Genelabs Technologies Inc. jumped Friday after the biotech drug maker said that upfront payments from a recent agreement with Swiss drug maker Novartis AG should give it enough cash to fund operations until the beginning of 2008.
Shares of Genelabs rose 24 cents, or 12.8 percent, to $2.11 in morning trading on the Nasdaq at more than triple their average volume. Shares have traded between 70 cents and $3.55 over the past 52 weeks.
The company announced on Monday it would receive a $12.5 million upfront payment from a collaboration with Novartis to develop hepatitis C treatments. The upfront payment will give the company a total of about $15 million in cash and equivalents by June 30.
Genelabs said that even without milestone payments from Novartis and Gilead Sciences Inc., it should be able to fund company operations until the beginning of 2008.
The company also said that it received a notice from the Nasdaq Monday warning that the company risked its listing as the stock had traded under $1 per share for 30 consecutive business days. Genelabs needs to keep its share price above $1 for 10 consecutive business days to comply with listing requirements.
Shares broke the under-$1 slump after the announcement of the Novartis deal on Monday, and have stayed above $1 since.
Genelabs is already appealing an earlier Nasdaq warning that Genelabs fell under the shareholder capitalization requirements.
bizjournals.com
Nasdaq warns Genelabs about possible delisting
Friday June 9, 11:38 am ET
Genelabs Technologies Inc. said Friday it has been warned by Nasdaq that it could be delisted because its stock traded below the $1 minimum required for 30 days.
Redwood City-based Genelabs (NASDAQ:GNLB - News) has 180 calendar days, or until Dec. 4, to close at $1 per share or higher for a minimum of 10 consecutive business days to regain compliance.
The period for which Genelabs common stock closed below $1 per share ended on June 2, the last trading day before Genelabs announced its HCV collaboration with drug giant Novartis AG (NYSE:NVS - News).
On each of the four business days since Genelabs received the letter, shares of Genelabs' common stock have closed with a bid price greater than $1.80 per share.
In midday trading Friday, the company's stock was at $2.09, an 11.76 percent increase.
Genelabs also said it expects its cash and cash equivalents to be about $15 million at the mid-year point, fueled by $12.5 million in up-front payments from Novartis. The company said the cash level accounts for costs related to closing the transaction and anticipated second quarter operating expenses. The company estimates that this cash balance together with anticipated funding under its hepatitis C virus collaborations with Novartis and Foster City-based Gilead Sciences Inc. (NASDAQ:GILD - News) will be sufficient to fund its current operations until approximately the beginning of 2008.
Published June 9, 2006 by the Silicon Valley/San Jose Business Journal
Genelabs Technologies (GNLB:Nasdaq - rose 8% after the drugmaker said it should have enough cash to fund operations until the beginning of 2008. Including $12.5 million in payments from licensing partner Novartis (NVS:NYSE - commentary - research - Cramer's Take), Genelabs expects to have a mid-year cash level of about $15 million. "The recent collaboration provides us with additional needed cash and allows us to continue to move forward with our three separate hepatitis C virus drug discovery programs, two of which now have top-notch corporate partners," the company said.
Separately, Genelabs received notification from Nasdaq officials that it is out of compliance with the market's bid price regulations, which require a stock to not trade below $1 for 30 consecutive business days. Shares of the company had traded below $1 a share until June 2, the last trading day before Genelabs announced a collaboration agreement with Novartis. Since the announcement, shares have traded above the $1 threshold. The company has until Dec. 4 to regain full compliance, it said. In the meantime, the company is in the process of appealing an earlier Nasdaq compliance issue related to minimum shareholder equity and market capitalization requirements. Shares recently were up 15 cents to $2.02.
Volume: 4,132,879
Avg Vol (3m): 612,762
Support @ $1.95...1.85...1.75
Resistance @ $2.19
MACD is Bullish
Technicals
Percentage Gainer
Last Price Quote is:
45.70%above 13-day EMA
60.82%above 50-day EMA
RS Rating: 73
Fundamentals
Key Data:
Market Cap (M): $13.72
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
GNLB : having good pre-market trading. Looks ready to climb back up. News out this morning. Using two year ,,weekly chart and six month daily
Link for pre-market trading
http://tinyurl.com/fw6ho
Press Release Source: Genelabs Technologies, Inc.
Genelabs Announces Issuance of U.S. Patent on DHEA Composition and Method
Monday June 12, 8:00 am ET
REDWOOD CITY, Calif., June 12 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB - News) announced today the issuance of U.S. patent No. 7,045,513 entitled "DHEA Composition and Method." The patent claims pharmaceutical formulations of dehydroepiandrosterone, or DHEA, in certain purified polymorphic forms. DHEA is the active ingredient in Prestara(TM), the company's investigational drug for systemic lupus erythematosus, or lupus. Genelabs formulation of Prestara is a highly purified synthetic form of DHEA, or prasterone, and the patent covers the specific polymorphic formulation of DHEA used in Genelabs' most recent clinical trials. The patent is scheduled to expire in August 2022.
The chart.....
Update to this thread...... ;)
Technicals
13-day EMA Cross Above 50-day EMA ;D
Last Price Quote is:
15.55%above 13-day EMA
15.94%above 50-day EMA
RS Rating: 14
Fundamentals
Key Data:
Market Cap (M): $29.58
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
Pressed for time tonight.
Will leave the end of day chart
Hmmmm...... nice set-up ;)
I like it !..... ;D
Very nice indeed Terliso......Thanks for the update...Applaud ;)
Quote from: setravis on October 13, 2006, 05:31:21 PM
I like it !..... ;D
Very nice indeed Terliso......Thanks for the update...Applaud ;)
I actually bought this one today, good volume 9 times the average daily volume....thanks Setravis ;)
If you so happen to have created a thread on GNLB.
You will now find it here......
All Threads on GNLB have been merged.
Please use the search before you start a new thread on a Stock Pick !
Thank You...and good trading to all ! ;)
Has brought the price back to the reverse split range of 12/19/05
52wk Range: 0.70 - 2.55
Volume: 650,672
Avg Vol (3m): 187,654
Technicals
Last Price Quote is:
12.75%above 13-day MA
28.00%above 50-day MA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $68.06
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
Press Release Source: Genelabs Technologies, Inc.
Genelabs Technologies Announces Appointment of Leslie J. Browne and Matthew J. Pfeffer to Its Board of Directors
Monday April 23, 7:00 am ET
REDWOOD CITY, Calif., April 23 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB - News) today announced the appointment of Leslie J. Browne, Ph.D. and Matthew J. Pfeffer to its Board of Directors.
Dr. Browne is currently President, Chief Executive Officer and a director of Pharmacopeia, a Nasdaq-listed company focused on the discovery and development of novel small molecule therapeutics. Previously he was the Chief Operating Officer at Iconix Pharmaceuticals, Inc., a chemogenomics company. Before that, Dr. Browne spent over a decade at Berlex/Schering AG, in several positions rising to Corporate Vice President, Berlex Laboratories, Inc. and President of Schering Berlin Venture Corporation. Before Berlex, he was employed by Ciba-Geigy Corporation, where he discovered Fadrozole, the first marketed non-steroidal aromatase inhibitor for the treatment of estrogen-dependent breast cancer. He also managed cardiovascular research at Ciba-Geigy Ltd., in Basel, Switzerland, where one of the group's achievements was the discovery of Diovan®, the second angiotensin II antagonist ever to be marketed. Dr. Browne received his B.Sc. at Strathclyde University, in Glasgow, Scotland. After receiving his Ph.D. in chemistry from the University of Michigan, he was a National Institutes of Health postdoctoral fellow at Harvard University with the Nobel laureate Professor R. B. Woodward.
Mr. Pfeffer has 25 years of financial management experience and is currently serving as Senior Vice President and Chief Financial Officer of VaxGen, Inc. Prior to VaxGen, Mr. Pfeffer was Chief Financial Officer of Cell Genesys, Inc. During his nine year tenure at Cell Genesys, Mr. Pfeffer's responsibilities included managing finance, tax, treasury, information technology and investor relations functions and overseeing corporate governance and compliance issues. Previously, Mr. Pfeffer served in a variety of financial management positions, including roles as Corporate Controller, Manager of Internal Audit and Manager of Financial Reporting, at Diasonics Ultrasound, Inc. and ComputerLand Corporation. Mr. Pfeffer is a Certified Public Accountant who began his career at Price Waterhouse. He is a graduate of the University of California, Berkeley.
Separately, Genelabs announced that Arthur Gray, Jr., who has served as a director of Genelabs since 1991, has advised the company that he does not intend to stand for re-election to the Board of Directors at the next annual shareholders meeting.
"I am delighted to welcome both Les Browne and Matt Pfeffer to Genelabs' Board of Directors," stated Irene A. Chow, Ph.D., Chairman of the Board of Genelabs. "Both Les and Matt are highly experienced executives with many years of leadership experience in the biotechnology industry. Their insight and expertise will be invaluable to Genelabs as we continue to execute our strategies for creating shareholder value through novel drug discovery and development. At the same time, I want to express my sincere thanks to Arthur Gray for his 16 years of service on the Genelabs Board of Directors. Arthur has been generous with his time and gracious in his manner, and has never wavered in his advocacy for shareholders. All of us at Genelabs wish him well in his retirement."
About Genelabs Technologies
Genelabs Technologies, Inc. is a biopharmaceutical company focused on the discovery and development of pharmaceutical products to improve human health. We have built drug discovery capabilities that can support various research and development projects. Genelabs is currently concentrating these capabilities on discovering novel compounds that selectively inhibit replication of the hepatitis C virus and advancing preclinical development of compounds from this hepatitis C virus drug discovery program, while also developing a late-stage product for lupus. We believe that these high-risk, potentially high reward programs focus our research and development expertise in areas where we have the opportunity to generate either first-in-class or best-in-class products that will address diseases for which current therapies are inadequate. For more information, please visit www.genelabs.com.
NOTE: Genelabs® and the Genelabs logo are registered trademarks of Genelabs Technologies, Inc.
Contact: James A. D. Smith
President and Chief Executive Officer
Phone: 650-562-1424
--------------------------------------------------------------------------------
Source: Genelabs Technologies, Inc.
It is developing Prestara (prasterone), an investigational drug for women with systemic lupus erythematosus. The company also pursues drug discovery of novel anti viral compounds for the treatment of hepatitis C virus infections and advances pre clinical development of compounds in this program. Its products in pre clinical stage include HCV NSSb Polymerase and HCV NSSa for the treatment of Hepatitis C virus infection. Genelabs Technologies, in partnership with Glaxosmithkline, is also developing HEV Vaccine for the prevention of disease caused by Hepatitis E virus. The company has strategic collaborations with Watson Pharmaceuticals, Inc. and Tanabe Seiyaku Co., Ltd. for the development and commercialization of its investigational new drug. It also has an agreement with Gilead Sciences, Inc. to collaborate in the research, development, and commercialization of certain compounds that inhibit replication of the hepatitis C virus; and a license and collaboration agreement with Novartis for the development and commercialization of compounds from Hepatitis C Virus (HCV) non-nucleoside drug discovery program.
52wk Range: 0.70 - 2.55
Volume: 301,209
Avg Vol (3m): 208,894
Technicals
Percentage Gainer
Last Price Quote is:
7.00%above 13-day MA
21.84%above 50-day MA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $65.36
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Hold
"GNLB" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;) ;D
Today's chart.......
TOP STORIES.......
Genelabs Technologies Announces
Commitments to Raise $23.7M in Capital
Genelabs Technologies, Inc. (GNLB) announced that it has obtained
commitments from several institutional investors to purchase approximately
12.9 million shares of its common stock and warrants to purchase
approximately 2.6 million shares of its common stock for gross
proceeds of approximately $23.7 million. The investors have agreed to
purchase the shares and warrants for $1.84 per unit (each unit consisting
of one share and a warrant to purchase 0.20 shares of common
stock). The exercise price of the warrants will be $2.08 per share. The
warrants will be exercisable at any time prior to the fifth anniversary of
the closing of the transaction. The closing of the offering is expected to
take place on October 1, 2007, subject to satisfaction of customary closing
conditions. Genelabs plans to use the proceeds from this financing
to support its ongoing hepatitis C virus (HCV) drug discovery programs
and for general corporate purposes. The proceeds will not be used to
fund a new phase III clinical trial of Prestara. Deutsche Bank Securities
Inc. acted as exclusive placement agent in the transaction.