Navigation Links
Lotus Pharmaceuticals Announces Second Quarter 2008 Results
Date:8/18/2008

ared to $36.9 million as of December 31, 2007. Total liabilities were $14.0 million compared to $10.3 million as of December 31, 2007. Stockholders' equity as of June 30, 2008 was $35.0 million, up 31.5% from $26.6 million as of December 31, 2007. The Company generated $4.7 million in net cash flow from operating activities in the first half of 2008, down from $4.9 million in the same quarter of 2007.

Recent Events

In May 2008, Lotus signed a technology transfer agreement with Dongguan Kaifa Biomedicine, Inc. ("Dongguan Kaifa") for the patent and exclusive production rights to Laevo-Bambutero in China. Laevo-Bambutero is a more effective asthma drug than a number of alternative drugs that currently are on the market. Lotus plans to launch the drug by 2012, pending approval from the SFDA. Lotus agreed to pay RMB 48 million (about $6.9 million) in cash and a 3% royalty on products sales to Dongguan Kaifa for Laevo-Bambutero. The Company has already paid RMB 20 million (about $2.9 million) to Dongguan Kaifa.

In June 2008, Lotus entered into an agreement with the Cha You Qian Qi Economy Commission ("Cha You"), Inner Mongolia, to purchase land rights to property on which it plans to construct a facility for developing and manufacturing pharmaceutical products. The property is approximately 400,200 square meters. Plans call for construction of a 40,000 square meter manufacturing facility. The cost of land rights was RMB 108 million (approximately $15.5 million), of which RMB 39 million (approximately $5.8 million) has been paid to Cha You.

The agreement through which Liang Fang acquired land rights to the property stipulates that construction of a manufacturing facility on the property must start by September 3, 2008. The cost of construction is an estimated RMB 160 million (approximately $22.9 million). The cost of purchasing production machinery is an estimated RMB 182 million (approximately $26.0 million). Working capital for development of
'/>"/>

SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Related biology technology :

1. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
2. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
3. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
4. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
5. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
6. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
7. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
8. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
9. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
10. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
11. Sunesis Pharmaceuticals Announces Reorganization to Focus Resources and Build Value in Clinical-Stage Programs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... Using microscopic polymer light resonators that expand in ... Quantum Photonics Laboratory have developed new optical sensors ... Optical sensors are ideal for detecting trace gas ... lightweight nature, and immunity to electromagnetic interference. , ... before, the MIT team conceived an extremely sensitive, ...
(Date:7/10/2014)... Columbia researchers have observed the fractional quantum Hall effect ... of matter can be tuned by an electric field. ... occur when electrons confined to thin sheets are exposed ... collective behavior where thousands of individual electrons behave as ... this effect is well established, many details of this ...
(Date:7/10/2014)... 1960s, theatergoers have shelled out for crude 3-D ... their viewing experience. These basic devices, used to ... reality, may soon be rendered obsolete with the ... Aviv University researchers. , TAU doctoral students Yuval ... highly efficient holography based on nanoantennas that could ...
(Date:1/15/2014)... akin to assembling a club sandwich at the ... researchers have succeeded in crafting a uniform, multi-walled ... foam commonly used in upholstered furniture and other ... polyurethane foam was reduced 35 percent compared with ...
Breaking Biology Technology:Swell new sensors 2Columbia researchers observe tunable quantum behavior in bilayer graphene 2Columbia researchers observe tunable quantum behavior in bilayer graphene 3Projecting a 3-dimensional future 2Projecting a 3-dimensional future 3Layered security: Carbon nanotubes promise improved flame-resistant coating 2
... PHOENIX, Nov. 12 Arizona Heart Innovative Technologies,LLC (AHIT) ... endovascular,use to a publicly traded medical device company. "This ... the past ten months. We,continue to demonstrate our ability ... community to commercially viable products for medical,device companies. This ...
... Zentaris Inc.,(NASDAQ: AEZS , TSX: AEZ), a ... will announce its third quarter 2008,financial and operating ... a.m.,The Company will host a conference call and ... at 10:00 a.m., Eastern Time., Participants may ...
... Novavax, Inc.,(Nasdaq: NVAX ) a clinical-stage vaccine ... Executive Officer, will be presenting at,the Lazard Capital Markets ... 19, 2008 at the St. Regis Hotel, New York ... strategy, research and,development progress. A link to the live ...
Cached Biology Technology:Arizona Heart Innovative Technologies Licenses New Endovascular Device 2
(Date:7/11/2014)... including scientists from the Max Planck Institute for Medical ... step in understanding photosynthesis, the process by which the ... its atmosphere and which is therefore crucial for all ... researchers report the first direct visualization of a crucial ... which a specific protein complex, photosystem II, splits water ...
(Date:7/11/2014)... 11, 2014 Researchers have pioneered a revolutionary ... new technology, called Virtual Finger, allows scientists to ... neurons and synapses using the flat surface of ... 3D imaging studies orders of magnitude more efficient, ... level across many areas of experimental biology. The ...
(Date:7/11/2014)... has demonstrated that transplantation of mesenchymal stem cells can ... mouse models of Alzheimer,s disease (AD) and improve tissue ... Few studies are reported on the therapeutic effect of ... and on the effect on oxidative injury and neurogenesis ... and her team, School of Life Sciences, Tsinghua University, ...
Breaking Biology News(10 mins):A first direct glimpse of photosynthesis in action 2Virtual finger enables scientists to navigate and analyze complex 3D images 2
... ill, or suffered an injury, you,ve watched gloomily as your ... about as common to the human condition as breathing. ... causes skeletal muscles to atrophy. They know proteins are responsible, ... key actors from the poseurs is tricky. In a ...
... the atmosphere are rising; the average temperatures of the ... these changes. The transitional zones between shallow shelf seas ... huge amount of methane hydrates in the sea bed. ... and under high pressure. When the water temperature directly ...
... linked to type 2 diabetes have been discovered by an ... The study provides a fuller picture of the genetics ... patterns emerging. The international team, led by researchers ... and MIT, and the University of Michigan, Ann Arbor, used ...
Cached Biology News:Researchers identify key culprit causing muscle atrophy 2Researchers identify key culprit causing muscle atrophy 3Are methane hydrates dissolving? 210 new diabetes gene links offer picture of biology underlying disease 210 new diabetes gene links offer picture of biology underlying disease 3
...
... PlusOne Silver Staining Kit, Protein, 1. ... and Dernick (1), the kit gives ... electrophoresis systems.Silver Staining Kit, Protein provides ... proteins in polyacrylamide gels in less ...
Mouse monoclonal [IFR0104] to Salmonella enteriditis ( Abpromise for all tested applications)....
Cyno macaque plasma and serum - various quantities available...
Biology Products: