OTCPicks.com Daily Market Movers Digest Midday Report for Monday, April 23rd
DHRM,
SGOC,
KERX,
OPXS,
ECDC,
LQMT Our Stocks to Watch today include Dehaier Medical Systems Ltd. (NASDAQ:
DHRM),
SGOCO Group Ltd. (NASDAQ:
SGOC), Keryx Biopharmaceuticals Inc.
(NASDAQ:
KERX), Optex Systems Holdings Inc. (OTCBB:
OPXS), East Coast Diversified Corp. (OTCBB:
ECDC) and Liquidmetal Technologies Inc. (OTCBB:
LQMT).
Visit http://otcpicknews.com/emailmarketer/link.phpM940&N58&L1&F=T to register for our Daily Market Movers Digest Newsletter and Email Stock Watch Alerts.
DEHAIER MEDICAL SYSTEMS LIMITED (NASDAQ:
DHRM) "Up 56.50% in morning trading" Detailed Quote:
http://otcpicknews.com/emailmarketer/link.phpM940&N58&L01&F=T Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA),
HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan).
Dehaier`s technology is based on six patents and five software copyrights; additionally Dehaier has two pending software copyrights and proprietary technology.
DHRM News:
April 23 - Dehaier Medical Signs Strategic Cooperation Agreement with Timesco of London Ltd.
Dehaier Medical Systems Ltd. (NASDAQ:
DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today announced that it has signed a strategic cooperation agreement with Timesco of London Ltd., one of the most progressive surgical and medical companies in the U.K.
Under the terms of this three-year agreement Dehaier will be the exclusive distributor in mainland China for Timesco`s entire laryngoscope Optima series of products, which include the CXL and Eclispse series. The presidents of both companies signed the agreement at the 67th China International Medical Equipment Fair in Shenzhen.
A laryngoscope is a viewing instrument that is used for tracheal intubations. The laryngoscope Optima series products offer a broad visual field and better vision for physicians due to its patented light source, while also addressing a variety of clinical demands through a diverse set of models and specifications. The agreement represents a benchmark for Dehaier as a leading distributor in China`s laryngoscope market, while also providing a new product channel for the Company to offer its customers across China and ultimately strengthen its market share and increase revenue.
Dehaier`s President and CEO, Mr. Ping Chen, commented, "Dehaier has maintained a long-term and reliable partnership with Timesco since 2003; we are currently taking as leading distributor in the laryngoscope market in China. We are glad that Timesco has expressed their appreciation of our product sales and market influence. Dehaier secured our competitive position through a strong and geographically diverse distribution network.
We anticipate a comprehensive cooperation with Timesco, and believe this will help enhance our corporate reputation and ultimately agreements such as this will return value for our shareholders." ABOUT TIMESCO OF LONDON LTD.
Founded in 1964, Timesco of London is a medical supplies company that designs, manufactures, and sells surgical and non-surgical medical and dental instruments. Its specialties include products for laryngoscope, surgery, podiatry, and primary care as well as emergency health care, midwifery, and more. The Company has been recognized as one of the most progressive surgical and medical companies in the U.K. Their goal is to serve the healthcare needs of all consumers in all cultures throughout the world. To develop new, innovative medical technologies that will save or improve the quality of life, whilst meeting the highest standards of quality and product safety at all times.
SGOCO GROUP LIMITED (NASDAQ:
SGOC) "Up 36.29% in morning trading" Detailed Quote:
http://otcpicknews.com/emailmarketer/link.phpM940&N58&L63&F=T
SGOCO Group, Ltd. is focused on building its own brands and retail distribution network in the flat panel display market, including LCD/LED monitors, TVs, and application specific products. With a network of hundreds of
SGOCO Image branded retail partners, the Company is rapidly expanding in Chinas tier 3 and tier 4 cities. By providing international standard quality products at competitive prices, the Company believes it is well positioned to take advantage of the emergence of Chinas new consumer culture.
SGOC News:
No recent news for
SGOCO Group Ltd. (NASDAQ:
SGOC).
KERYX BIOPHARMACEUTICALS INCORPORATED (NASDAQ:
KERX) "Up 24.33% in morning trading" Detailed Quote:
http://otcpicknews.com/emailmarketer/link.phpM940&N58&L2&F=T Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease and cancer. Keryx is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is being conducted pursuant to a Special Protocol Assessment (SPA) agreement with the FDA. Keryx is also developing KRX-0401 (perifosine), which is in Phase 3 clinical development for multiple myeloma. Keryx is headquartered in New York City.
KERX News:
April 23 - Keryx Biopharmaceuticals Announces Positive Top-Line Results from Phase 3 Study of Ferric Citrate (Zerenex) in Japan by Partner, Japan Tobacco and Torii Pharmaceutical Keryx Biopharmaceuticals, Inc. (NASDAQ:
KERX) announced that its Japanese partner, Japan Tobacco Inc. (JT) and Torii Pharmaceutical Co., Ltd.
(Torii), has announced positive top-line results from a Phase 3 study of ferric citrate in Japan for the treatment of hyperphosphatemia in end-stage renal disease patients on hemodialysis. This study is part of an ongoing Phase 3 program for ferric citrate in Japan for the treatment of hyperphosphatemia.
The Phase 3 study, conducted in Japan, was an open-label, randomized study evaluating the efficacy and safety of ferric citrate against an active control, sevelamer hydrochloride, over 12 weeks in hemodialysis patients with hyperphosphatemia. In the top-line results, which evaluated the change of serum phosphorus from baseline, the primary endpoint of efficacy met non-inferiority to sevelamer hydrochloride. Furthermore, there were no clinically significant findings on safety and tolerability of ferric citrate within the treatment period.
JT/Torii stated that it is aiming to submit the marketing application for ferric citrate in Japan in the fiscal year ending March 31, 2013.
Ron Bentsur, Chief Executive Officer of Keryx, said, "We congratulate our partner, JT/Torii, on their successful Phase 3 study and we are excited by their progress. We are also encouraged about our partner`s plans to file their marketing application in Japan within less than a year, similar to our expected timelines for the U.S. NDA and European MAA filings." Mr.
Bentsur added, "We are enthusiastic about Zerenex`s potential differentiated product profile and its prospects for becoming an important part of the treatment of hyperphosphatemia in dialysis patients worldwide." Zerenex (ferric citrate), a ferric iron-based phosphate binder, is also in a Phase 3 clinical program in the United States for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease on dialysis, which is being conducted pursuant to a Special Protocol Assessment agreement with the FDA.
Keryx holds a worldwide license (except for certain Asian Pacific countries) to Zerenex from Panion & BF Biotech, Inc.
Sublicense Agreement with Japan Tobacco & Torii Pharmaceutical In September 2007, Keryx sublicensed to JT/Torii the exclusive rights for the development and commercialization of its hyperphosphatemia drug, Zerenex (ferric citrate), in Japan. The licensing arrangement calls for JT/Torii to pay to Keryx up to $100 million in up-front license fees and payments upon the achievement of specified milestones, of which $28 million has been received by Keryx to date. In addition, upon commercialization, JT/Torii will make royalty payments to Keryx on net sales of the drug in Japan. JT/Torii are responsible for all development and commercialization costs in Japan.
OPTEX SYSTEMS HOLDINGS INCORPORATED (OTCBB:
OPXS) "Up 75.82% in morning trading" Detailed Quote: www.otcpicks.com/quotes/
OPXS.php Optex, which was founded in 1987, is a Richardson, Texas-based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
OPXS News:
No recent news for Optex Systems Holdings, Inc. (OTCBB:
OPXS).
EAST COAST DIVERSIFIED CORPORATION (OTCBB:
ECDC) "Up 37.14% in morning trading" Detailed Quote:
http://otcpicknews.com/emailmarketer/link.phpM940&N58&L12&F=T East Coast Diversified Corp. operates through its subsidiary, EarthSearch Communications, Inc. East Coast Diversified Corp. offers a portfolio of GPS devices, RFID interrogators, integrated GPS/RFID technologies and Tag designs. The company was founded in 2010 and is based in Atlanta, Georgia.
ECDC News:
April 23 - Ironridge Technology Enters into $2.5 Million in Equity Financings with East Coast Diversified Corporation Ironridge to convert Series B Preferred shares at 285% of current PPS East Coast Diversified Corporation (OTCBB:
ECDC) announces that it has entered into two equity financings with Ironridge Technology Co., an institutional investor financing small cap public companies in the technology sector, for an aggregate of more than $2.5 million.
The Company settled over $1 million in accounts payable, which Ironridge had acquired from various creditors of the company, in exchange for shares of common stock. The transaction thereby substantially reduced the Company`s liabilities, including its outstanding accounts payable balance.
According to Kayode Aladesuyi, CEO
ECDC, "This funding will help us continue the momentum we are experiencing with our businesses and manage growth more effectively, 45% of the payable funding is related to manufactured inventory that will help us accelerate sales and revenue especially with our StudentConnect business which require significant investment in equipments to be deployed to school districts." East Coast Diversified also entered into a definitive Stock Purchase Agreement with Ironridge to purchase $1.5 million in redeemable, convertible Series B Preferred Stock, which is convertible into common stock of the Company. Ironridge received no warrants. There are few restrictive covenants and no amortization provisions in the agreement. The transaction is subject to customary equity and closing conditions.
Under the Series B Stock Purchase Agreement, Ironridge has agreed to convert the shares at more than 285% of the current market price.
"Ironridge is demonstrating confidence in our business plan and the direction of the operation, its decision and agreement to convert at a significantly higher PPS than current market price is indicative of this, but more importantly, is that we can now accelerate the development of our social media division `WetWinds` and other projects we are working on." Consistent with its long-only investment mandate, Ironridge represented that it has never shorted the Company`s stock, does not hold any short position, and will not engage in or affect, directly or indirectly, any short sale of the common stock.
ABOUT IRONRIDGE TECHNOLOGY Ironridge Technology Co. is a division of Ironridge Global IV, Ltd. that specializes in equity investments in stocks related to researching, developing and creating computer software and hardware, electronics, information technology systems and services. Ironridge is a long-only institutional investor, making direct equity investments in small cap public companies. The firm entered into more than twenty equity financing transactions last year, ranging from a quarter million to $10 million each.
Ironridge seeks to be a long-term financial partner, assisting public companies in financing operations and expansion by supplying innovative funding solutions and flexible capital. The firm seeks to unlock the full potential of cash-constrained businesses, propelling higher growth and more profitable enterprises.
LIQUIDMETAL TECHNOLOGIES INCORPORATED (OTCBB:
LQMT) "Up 40.24% in morning trading" Detailed Quote:
http://otcpicknews.com/emailmarketer/link.phpM940&N58&L02&F=T Rancho Santa Margarita, California-based Liquidmetal Technologies, Inc. is the leading developer of bulk alloys and composites, that utilize the performance advantages offered by amorphous alloy technology. Amorphous alloys are unique materials that are distinguished by their ability to retain a random structure when they solidify, in contrast to the crystalline atomic structure that forms in ordinary metals and alloys.
Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries.
LQMT News:
March 30 - Liquidmetal Technologies Reports Annual Revenue of $1 Million for the Year Ended 2011 Liquidmetal Technologies Inc. (OTCBB:
LQMT) announced its financial results for the three months ended and year ended December 31, 2011. The Company reported revenues of $0.25 million and $1 million for the fourth quarter ended and year ended December 31, 2011, respectively. Furthermore, the Company closed out the fourth quarter with an operating loss of $1.7 million and $6.5 million for the year end.
Mr. Tom Steipp, President and CEO, commented, Liquidmetal Technologies has reached an important milestone enabling it to realize the benefits of its partner relationships. By the end of 2011, we are now able to source alloy feedstock from Materion, process our alloys using next generation molding machines from Engel and manufacture commercial parts at our contract manufacturer, Visser Precision Cast. Looking forward, we will be working with our partners to scale up these production capabilities while engaging with customers in aerospace, medical, sporting goods and other industries.
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