Blog - Page 4218 of 5582

FridayNov 14, 2008 7:58 pm

GeoPharma, Inc. (GORX) Releases Fiscal ’09 2Q Financial Results

On Thursday, GeoPharma announced second quarter financial results of the period ended September 30, 2008, posting some impressive figures for fiscal year 2009. Highlights for the quarter included an amazing display of growth in the company's distribution revenues, which increased by more than 700 percent over the second quarter of fiscal 2008. Overall revenues reached $16,039,751, reflecting an increase of 166 percent over the same period a year prior. Despite operating in a relatively tumultuous financial environment, the company managed to more-than double its gross profits, from $1,457,936 in the second quarter of fiscal 2008, to its present level of…

FridayNov 14, 2008 2:14 pm

Waiting to Exhale: Help for the Big Three?

It appears that help for the nation's three largest automakers will continue to be delayed as supporters of aid for Detroit met with vehement opposition from Washington. While most believe that a bailout is imminent, Hank Paulson is standing firm on leaving TARP funds for banks, even as the auto industry suffers. According to the Center for Automotive Research, a major failure in Detroit could spark the loss of 2.5 million jobs, and up to $125 billion in personal income. Turn-around expert Wilbur Ross warns that leaving the automakers for bankruptcy could cause far greater damage to the economy than…

FridayNov 14, 2008 2:13 pm

FDIC Plan Could Prevent 1.5 Million Foreclosures

The Federal Deposit Insurance Corporation on Friday proposed the use of $24 billion in government funding in an effort to save up to 1.5 million American homeowners from foreclosure. Providing resistance to the idea that the money might come from the recently passed $700 billion rescue bill, the Treasury Department holds firm to the notion that taxpayers' money should be utilized for investments which carry a possibility of returns. Supporters of the plan may have to wait until January to see action, as the FDIC is receiving little support from the current administration. Let us hear your thoughts below:

FridayNov 14, 2008 2:11 pm

Stocks Fail to Hold Thursday’s Gains

In a display of erratic trading, just a day after one of the biggest rallies on record, indices were hit hard toward the end of the session. The Dow closed at 8,497, falling 337 points, or 3.82 percent. Losses were even more pronounced on the Nasdaq, which dropped five percent. A possible contribution to the afternoon's disruption came from Federal Reserve Chairman Ben Bernanke, who remarked that the markets continue to exhibit "severe strain". Let us hear your thoughts below:

FridayNov 14, 2008 11:52 am

Lexicon Pharmaceuticals, Inc. (LXRX) Successfully Completes Phase 1b Trials for LX1032

Lexicon Pharmaceuticals, Inc. (LXRX), a biopharmaceutical company focused on developing breakthrough treatments for a variety of human diseases, recently announced that it successfully completed a second Phase 1 clinical trial of LX1032. The drug candidate will be used by patients to manage gastrointestinal symptoms associated with carcinoid syndrome, which is a chronic condition that results in metastatic neuroendocrine tumors that secrete large amounts of serotonin. During the Phase 1b multiple ascending-dose trial, the LX1032 was found to be well-tolerated at all dosage levels by all 40 volunteers. Five doses were given to the participants ranging from 100 mg to a…

FridayNov 14, 2008 11:50 am

Chembio Diagnostics, Inc. (CEMI.OB) Reports Strong Third Quarter Results

Chembio Diagnostics, Inc. (CEMI.OB), a company that develops, manufactures, and markets simple and cost-effective testing devices, recently announced its financial results for the third quarter 2008. Chembio is focused on high-quality rapid testing kits for detecting diseases such as HIV and tuberculosis to the worldwide market. In the third quarter 2008, Chembio recognized total revenue of $3.52 million, which is a 52% increase compared to the same period in 2007 of $2.31 million. The company’s positive revenue numbers were mainly due to the company’s strong sales of its HIV testing kits in the U.S. and in Africa along with its…

FridayNov 14, 2008 11:30 am

Basic Earth Science Systems, Inc. (BSIC.OB) 2nd Quarter Results Show Upside of Higher Oil and Gas Prices

Basic Earth Science Systems, Inc. today reported its operating results for the 2nd Quarter ending September 30, 2008. Basic Earth is an independent oil and gas exploration company. Benefitting from higher oil and gasoline prices earlier in 2008, net income rose to $946,000. Oil and gas revenue was $2,697,000. Compared to the same period in 2007, net income was 120% higher and sales revenue was 51% higher. Asked to comment on the company’s impressive results, Basic’s President, Ray Singleton, said the “combination of high commodity prices and the effect of our new Colorado wells coming on production have certainly supported…

FridayNov 14, 2008 11:03 am

StemCells Inc. (STEM) to Present Study Results at the Society for Neuroscience Annual Meeting in Washington, D.C.

StemCells Inc. (Nasdaq: STEM) is a clinical-stage biotechnology company focused on the development and commercialization of cell-based therapeutics to treat diseases of the central nervous system and liver. Though controversial to many people, cell-based discoveries are important in medical and scientific advances. The company’s HuCNS-SC product candidate (purified human neutral stem cells) is undergoing clinical trials to treat retinal and spinal cord damage and will soon be showcased to neuroscientists around the globe. StemCells today announced it will present the results of its retinal degeneration and spinal cord injury research program at the Society for Neuroscience Annual Meeting later this…

FridayNov 14, 2008 10:31 am

China North East Petroleum (CMEH.OB) Sales Jump 227%

China North East Petroleum Holdings Limited, a pioneer in China’s oilfield drilling and production industry, today announced a spectacular increase in revenue and net income for the third quarter of 2008. Total sales for the third quarter increased 227% over the same quarter last year to $19.7 million. The jump was due to an increase in crude oil production, and the price received for crude oil from PetroChina (PTR), the company’s sole customer. Crude oil production doubled to 172,730 barrels over the same quarter last year. The production boost was attributed to refracturing improvements, and the implementation of water injection…

FridayNov 14, 2008 10:28 am

Medical Connections Holdings, Inc. (MCTH.OB) Reports 58% Revenue Increase

Medical Connections Holdings, Inc., a fast growing national provider of medical staffing services, has reported a 58% increase in revenue for the third quarter, 2008. The company declared quarterly revenues of $1,855,671, versus $1,176,850 for the same quarter 2007. Also given were revenue figures for the nine months ending September 30, 2008, representing an increase of 64%, to $5,346,080. The results are an important step in the company’s continued drive toward profitability, representing a decrease in net loss margin by 30% period to period. Anthony Nicolosi, the company’s president, commented, “We are very excited with our year-to-date results and anticipate…

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