Navigation Links
Genesis Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2009
Date:2/17/2009

LAIYANG, China, Feb. 17 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced its financial results for the second quarter of its fiscal year 2009 ended December 31, 2008.

    Second Quarter of Fiscal Year 2009 Highlights

    -- Revenue was $32.9 million, up 24.1% from the corresponding quarter
       ended December 31, 2007
    -- Gross profit was $25.8 million, up 30.8% from the corresponding
       quarter ended December 31, 2007, and gross margin was 78.3%,
       compared to 74.3% in the corresponding quarter ended December 31,
       2007
    -- Operating income was $11.4 million, up 34.7% from the corresponding
       quarter ended December 31, 2007
    -- Net income was $5.4 million, or $0.11 per fully diluted share, up
       from $5.2 million, or $0.02 per fully diluted share, a year ago
    -- Non-GAAP adjusted net income was $7.0 million, or $0.71 per weighted
       average share, up 28.8% from non-GAAP adjusted net income of $5.4
       million, or $0.56 per fully diluted share, for the quarter ended
       December 31, 2007
    -- The board of directors approved a $2 million share buyback program
    -- An Assets Transfer Contract was signed in January to acquire
       Shandong Hongrui Pharmaceutical Factory ("Hongrui")
    -- A new website was launched: http://www.genesispharmaceuticals.com/

"We are pleased to report that Genesis Pharmaceuticals continued to show solid financial performance in the second quarter of our fiscal year 2009. Increased sales of Itopride Hydrochloride Granules and Baobaole Chewable Tablets led to strong revenue and operations income growth," said Mr. Wubo Cao, Chairman and CEO of Genesis. "And, sales of our latest over the counter product, Radix Isatidis Dispersible Tablets, began to contribute to revenue in the second quarter."

Second Quarter of Fiscal Year 2009 Results

Total revenue for the three months ended December 31, 2008 was $32.9 million, an increase of $6.4 million, or 24.1%, from $26.5 million for the three months ended December 31, 2007. Revenue increased mostly because of strong sales for two of the Company's products, Itopride Hydrochloride Granules and Baobaole Chewable Tablets. Sales also grew quickly for Radix Isatidis Dispersible Tablets, a drug launched in the first quarter of the Company's fiscal year 2009. Increased revenue was partially offset by decreased sales of Clarithromycin Sustained-Release Tablets.

Gross profit in the second quarter of the fiscal year 2009 was $25.8 million, an increase of 30.8% from $19.7 million for the prior year's corresponding period. Gross margin increased to 78.3% from 74.3% for the prior year's corresponding period. Gross margin increased because of increased sales of higher margin over the counter products, Baobaole chewable tables and Radix Isatidis Dispersible Tablets, and carefully managed purchases of raw materials.

Research and development costs totaled $1.1 million for the three months ended December 31, 2008, compared to $0.9 million for the three months ended December 31, 2007. Two new cooperative research and development agreements were signed to support university research and development projects in the latter part of fiscal year 2008 for which the Company makes monthly payments.

Selling, general and administrative expenses were $13.3 million for the three months ended December 31, 2008, up 28.8% from $10.3 million in the three months ended December 31, 2007. Salaries, wages and related benefits increased by 46.1% from the three months ended December 31, 2007 to $9.2 million for the three months ended December 31, 2008 primarily due to an increase in commissions as a percentage of sales paid to sales representatives and increased sales volume.

Income from operations was $11.4 million for the three months ended December 31, 2008, a 34.7% increase from $8.5 million for the three months ended December 31, 2007.

Net income for the three months ended December 31, 2008 was $5.4 million, $0.11 diluted earnings per share, compared to $5.2 million, $0.02 diluted earnings per share, for the three months ended December 31, 2007.

While the Company had a $2.9 million increase in income from operations, other expenses increased by $2.9 million. The increase in net other expenses was primarily due to increases in realized and unrealized losses of $1.3 million on security investments, an increase in interest expense and amortization of debt discounts related to financings in November 2007 and May 2008 of $2.7 million, and accounting for expenses acquired from discontinued operations associated with the Company's reverse merger on October 1, 2007. Excluding an unrealized net loss on security investments of $422,652, and a non-cash charge for amortization of debt discount and issuance costs, and interest expense related to convertible debentures of $1.7 million, non-GAAP adjusted net income for the three months ended December 31, 2008 was $7.0 million, or $0.71 per share, a 28.7% increase from non-GAAP net income of $5.4 million, or $0.56 per share, for the three month period ended December 31, 2007.

Six Month Operating Highlights

Total revenue for the six month period ended December 31, 2008 was $60.5 million, up 40.2% from $43.2 million for the six month period ended December 31, 2007.

Gross profit for the six month period ended December 31, 2008 totaled $47.6 million, up 49.9% from $31.8 million for the six month period ended December 31, 2007. Gross profit margin was 78.7% for the six month period ended December 31, 2008, compared to 73.6% for the corresponding period in 2007.

Operating income for the six month period ended December 31, 2008 totaled $18.8 million, a 39.9% increase from $13.4 million in the corresponding period in 2007. The Company's operating margin kept stable at around 31.0%.

Net income for the six month period ended December 31, 2008 was $8.5 million, $0.41 diluted earnings per share, compared to $8.4 million, $0.53 diluted earnings per share, for the corresponding period in 2007.

Excluding an unrealized net loss on security investments of $1.5 million, and a non-cash charge for amortization of debt discount and issuance costs related to convertible debentures of $2.0 million, non-GAAP adjusted net income for the six months ended December 31, 2008 was $12.0 million, or $1.23 per share, a 38.4% increase from non-GAAP net income of $8.7 million, or $1.46 per share, for the six month period ended December 31, 2007.

Financial Condition

As of December 31, 2008, the Company had $83.0 million in cash and restricted cash. Working capital was $83.7 million, up from $72.5 million as of June 30, 2008. Current liabilities were $33.7 million and long-term debt consisted of $4.0 million in convertible debt. Shareholders' equity was $102.9 million. Future contractual obligations within a one year period include $8.8 million in bank debt and $4.4 million in research and development contractual agreements.

The Company generated $26.4 million in cash flow from operating activities in the first half of the fiscal year 2009, compared to $2.9 million for the first six months of 2007. The Company believes it has enough cash to meet its future cash needs and successfully implement its growth strategies.

Recent Events

In January, the Company announced that it has retained KPMG Huazhen to help the Company develop a SOX 404 compliance program. This will include an examination and report on the adequacy of the Company's internal financial reporting and control procedures, and recommendations on how to implement best practices in the areas of operations and financial risk reporting and control.

In January, the Company announced that it signed an Assets Transfer Contract to acquire Hongrui, including all of Hongrui's manufacturing and office buildings, land, equipment and inventories. This acquisition also includes all the rights to manufacture and distribute Hongrui's 22 Traditional Chinese Medicines. The total purchase price will be RMB110 million (approximately $16.1 million) consisting of RMB66 million in cash (approximately $9.6 million) and 643,651 shares of Genesis' common stock. The Company has valued the equity consideration to be paid in this transaction at approximately $12.2 million based on the closing price of the Company's common stock on January 23, 2009.

The acquisition of Hongrui will increase the Company's product portfolio from 6 to 28 products, and will increase the Company's presence in the over the counter drug market while helping balance Genesis' over the counter sales with its sales of prescription drugs. Genesis will manufacture, label and distribute the drugs it purchased from Hongrui under its own brand name, "Jiangbo."

"We are excited by the opportunity to expand our over the counter presence by selling Hongrui's drugs. We expect that sales of Hongrui products will have an immediate positive impact on our revenue growth. Because our attention is no longer being diverted by the demands of arbitration procedures, we believe that we can return our attention to growing Genesis and developing our Hongrui purchase."

The Company participated in a number of American Arbitration Association ("AAA") proceedings during the latter part of 2008 and the beginning of 2009. In February 2009, the Company was notified by an AAA Panel that it awarded a total of $980,070 to claimants in the last remaining joint arbitration proceedings against the Company. These claimants had originally sought over $13 million from the Company. Once this joint claim is satisfied, the claimants who brought the arbitration proceedings against the Company will no longer be able to seek Genesis' shares or any other property which was originally sought in the arbitration proceedings brought by them.

"As part of our ongoing process of reviewing and improving our operational and financial reporting and controls, we engaged KPMG Huazhen to help develop a SOX 404 compliance program for us. We expect that the ideas which are generated during this engagement will help us in our ongoing preparations for upgrading the listing of our shares to the NASDAQ Capital Market."

Business Outlook and Guidance

In January of 2009, China's government announced that it will spend more than $120 billion over the next three years to expand insurance coverage, revamp public hospitals and improve access to medical treatment. Genesis expects these government programs to create favorable market conditions for the Company, especially because most of the Company's products are used to treat commonly occurring diseases.

The government aims to extend medical insurance to 90% of the population by 2011 and make "basic health-care services" available to all of China's 1.3 billion citizens. Making medical services available to more people is line with the Company's marketing strategy which includes increasing sales in rural markets.

"Sales growth for Baobaole Chewable Tablets and Radix Isatidis Dispersible Tablets confirms that there are tremendous market opportunities for over the counter products in China. Our acquisition of Hongrui comes at a time when the Chinese government is about to increase its spending on drugs. We believe that Genesis is well positioned to grow its sales and market reach, and we are confident that we will meet our fiscal year 2009 guidance," concluded Mr. Cao. "We expect revenue for fiscal 2009 to be from $122.0 to $130.0 million, and operating income to be from $40.0 to $43.0 million, excluding the impact of the Hongrui purchase."

Conference Call

Genesis Pharmaceuticals Enterprises, Inc. management will host a conference call at 9:00 a.m. Eastern Time on Tuesday, February 17, 2009 to discuss financial results for the quarter ended December 31, 2008. Mr. Wubo Cao, Chairman and CEO, Ms. Elsa Sung, CFO, and Mr. Haibo Xu, COO, of Genesis will be present for the conference call. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time of 9:00 a.m. Eastern Time on Tuesday, February 17, 2009: (888) 419-5570. International callers should call (617) 896-9871. The Conference Passcode is 694 125 61. Replay of the conference call will be available from Tuesday, February 17, 2009 at 11:00 a.m. Eastern until Tuesday, March 3, 2009. To access the replay, call (888) 286-8010. International callers should call (617) 801-6888. The Conference Passcode is: 398 758 52.

Use of Non-GAAP Financial Information

This press release includes certain financial information, adjusted net income and adjusted fully diluted earnings per share, which are not presented in accordance with GAAP. Adjusted net income was derived by taking earnings before unrealized losses on trading securities and non-cash amortization of debt discount and debt issuance costs related to convertible securities. The Company's management believes that these non-GAAP measures provide investors with a better understanding of the Company's historical results from its core business operations. To supplement the Company's condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information, which is adjusted net income and adjusted earnings per share, excluding the impact of these items in this release. The non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information provided by the Company may also differ from non-GAAP information provided by other companies. A table below provides a reconciliation of the non-GAAP financial information to the nearest GAAP measure.

About Genesis Pharmaceuticals Enterprises, Inc.

Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a pharmaceutical company in China producing western and Chinese herbal-based medical drugs in tablet, capsule, and granule form. For more information, visit: http://www.genesispharmaceuticals.com/

Safe Harbor Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

                       - Financial Statements Follow -



          GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

       CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
                                 (UNAUDITED)

                       For the Three Months Ended   For the Six Months Ended
                              December 31,                 December 31,
                           2008          2007          2008          2007
    REVENUES:
      Sales            $32,944,809  $25,154,071    $60,265,493  $40,416,860
      Sales -
       related
       parties                  --    1,394,662        243,909    2,742,757
    TOTAL REVENUES      32,944,809   26,548,733     60,509,402   43,159,617

      Cost of sales      7,138,166    6,524,403     12,851,210   10,730,348
      Cost of sales
       - related
       parties                  --      292,040         54,493      676,209
    COST OF SALES        7,138,166    6,816,443     12,905,703   11,406,557

    GROSS PROFIT        25,806,643   19,732,290     47,603,699   31,753,060

    RESEARCH AND
     DEVELOPMENT
     EXPENSE             1,098,525      937,390      2,196,450    1,202,310

    SELLING,
     GENERAL AND
     ADMINISTRATIVE
     EXPENSES           13,282,421   10,311,750     26,634,396   17,133,166

    INCOME FROM
     OPERATIONS         11,425,697    8,483,150     18,772,853   13,417,584

    OTHER (INCOME) EXPENSE:
      Other (income)
       expense, net        429,559      (40,185)     1,344,529      (27,507)
      Other (income)
       expense -
       related parties     (92,774)     (26,944)      (236,724)     (53,436)
      Non-operating
       (income) expense   (225,558)     (59,606)      (150,937)         297
      Interest
       expense, net      1,549,331      339,484      2,902,125      399,484
      Loss from
       Discontinued
       Operations        1,545,607      112,931      1,590,823      112,931
      OTHER EXPENSE,
       NET               3,206,165      325,680      5,449,816      431,769

    INCOME BEFORE
     PROVISION FOR
     INCOME TAXES        8,219,532    8,157,470     13,323,037   12,985,815

    PROVISION FOR
     INCOME TAXES        2,820,346    3,004,007      4,790,367    4,597,360

    NET INCOME           5,399,186    5,153,463      8,532,670    8,388,455

    OTHER COMPREHENSIVE INCOME:
      Unrealized Holding
       (loss) gain        (384,650)   1,618,203     (1,947,617)   1,618,203
      Foreign currency
       Translation
       Adjustment          248,823    1,050,485        579,464    1,467,831

    COMPREHENSIVE
     INCOME             $5,263,359   $7,822,151     $7,164,517  $11,474,489

    BASIC WEIGHTED
     AVERAGE NUMBER
     OF SHARES           9,771,883    9,641,742      9,770,615    5,907,192

    BASIC EARNINGS
     PER SHARE               $0.55        $0.53          $0.87        $1.42

    DILUTED WEIGHTED
     AVERAGE NUMBER
     OF SHARES          10,418,317   10,206,553     10,443,463    6,472,003

    DILUTED EARNINGS
     PER SHARE               $0.11        $0.02          $0.41        $0.53



            GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                                                 December 31,     June 30,
                                                     2008           2008
                                                 (Unaudited)
                                      ASSETS
    CURRENT ASSETS:
      Cash                                    $   76,379,860  $  48,195,798
      Restricted cash                              6,580,962      7,839,785
      Investments                                    532,724      2,055,241
      Accounts receivable, net of
       allowance for doubtful accounts of
       $267,957 and $155,662, respectively        26,101,618     24,312,077
      Accounts receivable - related parties          188,022        673,808
      Inventories                                  4,978,846      3,906,174
      Other receivables                            2,324,562        152,469
      Other receivables - related parties            237,343             --
      Advances to suppliers and other assets         124,578      1,718,504
        Total current assets                     117,448,515     88,853,856

    PLANT AND EQUIPMENT, net                      11,125,526     11,225,844

    OTHER ASSETS:
      Restricted investments                         600,075      2,481,413
      Financing costs, net                         1,576,793      1,916,944
      Intangible assets, net                       9,823,785      9,916,801
        Total other assets                        12,000,653     14,315,158

          Total other assets                  $  140,574,694  $ 114,394,858


                       LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
      Accounts payable                        $    2,924,891  $   2,341,812
      Short term bank loans                        2,200,500      2,772,100
      Notes payable                                6,580,962      5,843,295
      Other payables                               5,613,441      3,671,703
      Other payables - related parties               391,793        324,972
      Accrued liabilities                            231,715        173,604
      Liabilities assumed from reorganization      1,771,650      1,084,427
      Taxes payable                               14,014,450        166,433
      Total current liabilities                   33,729,402     16,378,346

    CONVERTIBLE DEBT, net of discount of
     $31,364,174 and $32,499,957 as of
     December 31, 2008 and June 30, 2008,
     respectively                                  3,986,278      2,500,043

      Total Liabilities                           37,715,680     18,878,389

    COMMITMENTS AND CONTINGENCIES                         --             --

    SHAREHOLDERS' EQUITY:
      Preferred stock  ($0.001 par value;
       20,000,000 shares authorized;
       none issued or outstanding)                        --             --
      Common stock ($0.001 par value, 22,500,000
       and 15,000,000 shares authorized,
       respectively; 9,791,448 and 9,767,844
       shares issued and outstanding as of
       December 31 and June 30, 2008
       respectively)                                   9,792          9,770
      Paid-in-capital                             73,566,519     45,554,513
      Capital contribution receivable            (27,845,000)       (11,000)
      Retained earnings                           46,109,412     39,008,403
      Statutory reserves                           4,685,539      3,253,878
      Accumulated other comprehensive income       6,332,752      7,700,905
        Total shareholders' equity               102,859,014     95,516,469
          Total liabilities and
           shareholders' equity               $  140,574,694  $ 114,394,858



            GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               FOR THE SIX MONTHS ENDED DECEMBER 31, 2008 AND 2007
                                   (UNAUDITED)

                                                2008               2007
    CASH FLOWS FROM OPERATING ACTIVITIES:
      Net income                             $8,532,670         $8,388,455
      Loss from discontinued operations       1,590,823            112,931
      Income from continuing operations      10,123,493          8,501,386
      Adjustments to reconcile net
       income to cash from operating
       activities:
        Depreciation                            289,749            241,282
        Amortization of intangible assets       147,120             58,289
        Amortization of financing costs         340,151             18,049
        Amortization of debt discount         1,646,235            254,630
        Bad debt expense                        111,237                 --
        Gain on sale of marketable
         securities                            (115,128)           (64,742)
        Unrealized loss (gain) on
         trading securities                   1,459,656             (8,893)
        Other non-cash settlement               (20,000)                --
        Stock-based compensation                 38,028             28,750
      Changes in operating assets and
       liabilities
        Accounts receivable                  (1,764,421)        (5,314,103)
        Accounts receivable - related
         parties                                488,580         (1,093,483)
        Notes receivables                            --             58,893
        Inventories                          (1,049,318)           738,910
        Other receivables                    (2,175,378)           (84,925)
        Other receivables- related parties     (236,724)                --
        Advances to suppliers and
         other assets                         1,608,131         (2,129,298)
        Accounts payable                        569,601           (453,390)
        Accrued liabilities                     153,587            311,785
        Other payables                        1,815,563           (879,701)
        Other payables - related parties         66,028             13,359
        Liabilities assumed from
         reorganization                        (903,600)          (689,022)
        Taxes payable                        13,821,621          3,363,650
            Net cash provided by
             operating activities            26,414,211          2,871,426

    CASH FLOWS FROM INVESTING
     ACTIVITIES:
      Proceeds from sales of marketable
       securities                               117,614            376,205
      Prepayment for land use right                  --         (2,544,100)
      Cash receipt from reverse
       acquisition                                   --            534,950
      Acquisition of equipment                 (128,179)          (293,487)
            Net cash used in
             investing activities               (10,565)        (1,926,432)

    CASH FLOWS FROM FINANCING
     ACTIVITIES:
      Decrease (Increase) in
       restricted cash                       12,921,612          4,270,071
      Proceeds from sale of common stock
       and options exercised                         --            180,000
      Proceeds from convertible debt                 --          5,000,000
      Payments on debt issuance costs                --           (354,408)
      Payments for dividend                          --        (10,596,800)
      Proceeds from bank loans                2,196,450          3,183,560
      Principal payments on short term
       bank loans                            (2,782,170)        (2,649,200)
      Payment to escrow account                      --           (325,000)
      Payments on notes payable                 704,328         (4,270,071)
            Net cash provided by (used
             in) financing activities         1,410,770         (5,561,848)

    EFFECTS OF EXCHANGE RATE CHANGE IN
     CASH                                       369,646            513,427

    INCREASE (DECREASE) IN CASH              28,184,062         (4,103,427)

    CASH, beginning of period                48,195,798         17,737,208

    CASH, end of period                     $76,379,860        $13,633,781



            GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES
                      RECONCILIATION OF NON-GAAP NET INCOME

                             For Three Months Ended    For Six Months Ended
                             December 31 December 31  December 31 December 31
                                  2008       2007         2008        2007

    Net Income                 5,399,186  5,153,463    8,532,670   8,388,455
    Realized loss (income) on
     trading securities, net     418,134     (8,993)   1,459,656      (8,993)
    Amortization of debt
     discount and debt
     issuance costs related
     to convertible debetures  1,153,760    272,679    1,986,385     272,679

    Adjusted Net Income        6,971,080  5,417,149   11,978,711   8,652,141
    Adjusted Earnings Per
     Weighted Average Number
      of Shares                    $0.71      $0.56        $1.23       $1.46

    Weighted Average Number
     of Shares                 9,771,883  9,641,742    9,770,615   5,907,192


    For more information, please contact:

    Genesis Pharmaceuticals Enterprises, Inc.
     Ms. Elsa Sung, CFO
     Tel:   +1-954-727-8435
     Email: elsasung@jiangbo.com
     Web:  http://www.genesispharmaceuticals.com

    CCG Investor Relations, Inc.
     Mr. Crocker Coulson, President
     Tel:   +1-646-213-1915
     Email: crocker.coulson@ccgir.com
     Web:  http://www.ccgirasia.com


'/>"/>
SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2009 PR Newswire.
All rights reserved


Related biology technology :

1. Genesis Pharmaceuticals Announces Conference Call to Discuss Results for its Second Quarter of FY 2009
2. Genesis HealthCare Promotes Wendy LaBate To Senior Vice President of Operations for the Northeast Area
3. AngioGenex Presents Data on its Id Targeted Anti-Angiogenesis Inhibitors at Two Scientific Conferences
4. ThermoGenesis Corp. to Announce Second Quarter Fiscal 2009 Results on February 4, 2009
5. Genesis Pharmaceuticals Appoints KPMG to Help Develop a SOX 404 Compliance Program
6. OmegaGenesis Announces Angiogenesis Application Collaboration
7. Cardiogenesis Announces Addition of Raymond W. Cohen to Board of Directors
8. Tissue Genesis Applies CE Mark to Its Adult Stem Cell Isolation System
9. Cardiogenesis Reports Third Quarter 2008 Results
10. ThermoGenesis Presentation at Rodman & Renshaw Conference
11. Genesis Pharmaceuticals Launches New Corporate Website
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)...  CytRx Corporation (NASDAQ: CYTR ), a ... today announced that it has entered into a ... Growth Capital, Inc. and Hercules Technology III, L.P. ... --> --> CytRx ... under the loan and security agreement.  The proceeds ...
(Date:2/8/2016)... Novan, Inc. today announced that Director Robert A. Ingram ... In addition, Robert Keegan has been appointed to the ... --> North Carolina . ... of $32.8 million of net proceeds in a private Mezzanine B ... the Research Triangle area of North Carolina . ...
(Date:2/8/2016)... , Feb. 8, 2016  BioElectronics Corporation ... medical devices, announced today that it is responding ... proceedings from the Securities and Exchange Commission posted ... Staelin , Chairman of the Board of BioElectronics ... of Business Administration at The Fuqua School of ...
(Date:2/8/2016)... ... February 08, 2016 , ... Bulk ... loose, bulk foods at various stages of the production process. Despite frequently inspecting ... large bulk products post packaging such as sacks of dry powders. , Mettler-Toledo ...
Breaking Biology Technology:
(Date:1/20/2016)... , Jan. 20, 2016  Synaptics Incorporated (NASDAQ: ... interface solutions, today announced sampling of S1423, its ... wearables and small screen applications including smartwatches, fitness ... Supporting round and rectangular shapes, as well as ... performance with moisture on screen, while wearing gloves, ...
(Date:1/15/2016)... Puerto Rico , Jan. 15, 2016 ... big and small to find new ways to ensure ... culture. iOS and Android ... based on biometrics, transforming it into a hardware authorization ... that users swipe their fingerprint on their KodeKey enabled ...
(Date:1/13/2016)... , January 13, 2016 /PRNewswire/ ... announced the addition of the  "India ... Estimation & Forecast (2015-2020)"  report ... http://www.researchandmarkets.com/research/7h6hnn/india_biometrics ) has announced the addition ... Identification Market - Estimation & Forecast ...
Breaking Biology News(10 mins):