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OTCPicks.com: OTCPicks.com Stocks to Watch for Monday, August 25th
RNVO, OGXI, MEDT, CPRX, FFGO
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:25082008
Our Stocks to Watch tomorrow include Renovo Holdings (OTCBB: RNVO),
OncoGenex Pharmaceuticals Inc. (Nasdaq: OGXI), Mediatechnics Corp.
(OTC: MEDT), Catalyst Pharmaceutical Partners Inc. (Nasdaq: CPRX) and
Fortress Financial Group Inc. (OTC: FFGO).
Visit http://www.otcpicks.com to register for our Daily Market Mover's
Digest Newsletter, and Email Stock Watch Alerts.
RENOVO HOLDINGS (OTCBB: RNVO) "Up 200.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/RNVO.php
Renovo Holdings does not have significant operations. It intends to
acquire or merge with one or more operating businesses. The company,
formerly known as Fortis Enterprises, was founded in 2000 and is based
in Casselberry, Florida.
RNVO News:
August 22 - Renovo Holdings Updates Shareholders
Renovo Holdings (OTCBB: RNVO) announced that the company has reached
negotiated terms, which have set the framework for significant changes
in the company's management and operating structures.
After completion of the transaction, Renovo Holdings will commence
operations under the leadership of the new management team. Both the
current and incoming management teams are pleased to announce that
under the negotiated terms, the parties have agreed that there will be
no reverse stock split associated with the transaction.
The company anticipates introducing the new management team and
business model in the very near term. The resignation of Stephen W.
Carnes, current President of Renovo Holdings, will be accepted and
effective concurrently upon the appointment of the company's new
management team.
ONCOGENEX PHARMA INCORPORATED (NASDAQ: OGXI) "Up 63.90% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/OGXI.php
OncoGenex Pharmaceuticals is a biopharmaceutical company committed to
the development and commercialization of new cancer therapies that
address unmet needs in the treatment of cancer. OncoGenex has a deep
oncology pipeline, with each product candidate having a distinct
mechanism of action and representing a unique opportunity for cancer
drug development. OGX-011, the lead candidate currently completing five
Phase 2 clinical studies in prostate, lung and breast cancers, is
designed to inhibit the production of specific proteins associated with
treatment resistance; OGX-427 and SN2310 are in Phase 1 clinical
development; and CSP9222 and OGX-225 are currently in pre-clinical
development.
OGXI News:
August 22 - FDA Grants Fast Track Designation for OncoGenex
Pharmaceuticals' Lead Product Candidate OGX-011
OncoGenex Pharmaceuticals (Nasdaq: OGXI) announced that OGX-011, also
known as custirsen sodium, received Fast Track designation from the
U.S. Food & Drug Administration (FDA) in combination with docetaxel for
progressive metastatic prostate cancer. OGX-011 is currently completing
five Phase 2 clinical studies in prostate, lung and breast cancer, and
is designed to inhibit the production of a specific protein, clusterin,
associated with treatment resistance.
Fast Track designation is granted to products that may provide a
significant improvement in the safety or effectiveness of the treatment
for a serious or life-threatening disease. Based on this designation,
the FDA will take actions as appropriate to expedite the development
and review of OGX-011 for approval. These actions include scheduled
meetings to obtain FDA input into development plans, the option of
submitting a New Drug Application in sections rather than all
components simultaneously, and the option of requesting evaluation of
studies using surrogate endpoints.
"Obtaining Fast Track designation for custirsen sodium while developing
our Phase 3 program for hormone-refractory prostate cancer (HRPC) and
in advance of initiating our Phase 3 study is very important and should
help us move forward expeditiously on our pathway toward
commercialization," said Scott Cormack, chief executive officer of
OncoGenex Pharmaceuticals. "We welcome this designation as another
example of our ability to rapidly advance our development programs."
The request for Fast Track designation was based on data from Phase 2
studies in HRPC as well as supporting data in non-small cell lung
cancer (NSCLC) indicating that OGX-011 treatment can significantly
reduce serum clusterin levels and that achieving low serum clusterin
levels during treatment is correlated with improved survival.
Furthermore, serum clusterin levels during OGX-011 treatment may be
predictive of a treatment benefit with OGX-011. In patients with HRPC
who had failed first-line docetaxel while on or within six months of
first-line docetaxel therapy and received second-line chemotherapy in
combination with OGX-011 (Study OGX-011-07), achieving or maintaining
low serum clusterin levels correlated with improved survival. Similar
results were seen in Study OGX-011-05 in patients with NSCLC who were
treated with gemcitabine plus a platinum regimen and OGX-011. Data from
the Phase 2 study in HRPC were presented at the 2008 Annual Meeting of
the American Society of Clinical Oncology.
MEDIATECHNICS CORPORATION (OTC: MEDT) "Up 50.00% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/MEDT.php
Mediatechnics Corporation (www.mediatechnicscorporation.com) is the
parent company of Mediatechnics Systems Inc., MediaMaster Corporation,
The Live Network, Innotech and CRD Technology.
MEDT News:
August 22 - Mediatechnics Announces New Strategic Partnership With
Digital Media Applications
Mediatechnics Corporation (OTC: MEDT) announced a new partnership with
Digital Media Applications (DMA), the leading provider of automated DVD
authoring solutions and the RocketDVD Professional software application.
Together with Mediatechnics' new DVD production platform, FusionPro and
DiscWrite4, DMA's software will enable Mediatechnics to provide their
customers with turn-key solutions including, DVD authoring applications
with an automated process for capture, disc duplication and
distribution of professional DVDs including customized disc labels and
DVD case wraps.
Incorporating key support for Mediatechnics' products with RocketDVD
will help expand Mediatechnics' market penetration by adding support
for two key DMA applications; RocketDVD-Live and RocketDVD-On-Demand.
RocketDVD-Live is an end-to-end automated DVD authoring solution that
offers real-time video/audio captures, recording and creation of DVDs
during live events. It consists the RocketDVD Professional system, Live
feature upgrades and the RocketDVD Duplicator Rack mount Towers,
RocketDVD-Live, is completely scalable and can produce a large number
of fully authored DVDs within 10 minutes from the conclusion of the
event. RocketDVD-Live technology enables the simultaneous receipt of
the DVD image file to all DVD Duplicators available on the gigabit
Ethernet network. Once receipt of the DVD image file is complete each
tower will immediately initiate the writing process on all available
drives populated with blank media. Additional DVD runs can be initiated
once all drives in the duplicator are repopulated with blank media
(actual writing times per 6-drive tower is approximately 6.5 minutes).
Markets: Live Events - Entertainment, Training, Corporate Events,
Government, and Education
RocketDVD-On-Demand enables you to fully automate the entire DVD
production process from a second application such as a Website,
Database or an Asset Management system. By placing a text file with
project parameters in a pre-defined hot folder, RocketDVD On Demand
will automatically poll the hot folder looking for project files to
execute, immediately process the project and send the DVD to the
Mediatechnics Fusion system for production. This includes creating a
new menu, disc label and custom case wrap for the DVD project. You no
longer have to keep DVDs in inventory. With DVD-On-Demand you can
create a just-in-time DVD production process while adding the ability
for your customers to custom select the video components or assets they
want on the DVD.
Markets: Broadcaster, Content Producers, Catalogs, and Education
Digital Media Applications was formed in 2003 to bring to market
RocketDVD Professional, a unique and innovative DVD authoring
application. The company is made up of industry professionals with
backgrounds in DVD Authoring, Video and Network Storage, Video
Streaming, Video Conferencing and Video Production. We've used our
years of experience and industry knowledge to produce
RocketDVDProfessional, the first DVD creation system to incorporate
high level DVD Authoring features like; custom menus, custom
chaptering, motion menus, variable text fields etc. in a fully
automated DVD Authoring and Production solution. Please check out our
products page for more information.
CATALYST PHARMACEUTICAL PARTNERS (NASDAQ: CPRX) "Up 18.40% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/CPRX.php
Catalyst Pharmaceutical Partners, Inc., a development-stage
biopharmaceutical company, focuses on the development and
commercialization of prescription drugs for the treatment of drug
addiction. It is developing CPP-109, a chemical compound
gamma-vinyl-GABA based product, which is in Phase II clinical trial for
the treatment of addiction to cocaine. The company also intends to
develop CPP-109 to treat methamphetamine and other addictions, such as
addictions to nicotine, prescription pain medications, alcohol, and
marijuana, as well as treatments for obsessive-compulsive disorders,
including obesity and compulsive gambling. In addition, it holds a
worldwide license from Brookhaven Science Associates to nine patents
and four patent applications relating to the use of vigabatrin for a
range of indications, including the treatment of various substance
addictions. The company was founded in 2002 and is based in Coral
Gables, Florida.
CPRX News:
August 21 - Catalyst Pharmaceutical Partners Announces Publication of
Animal Data Demonstrating Vigabatrin Effective for Weight Loss
Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) reported that
animal data from a new study sponsored by scientists at the U.S.
Department of Energy's Brookhaven National Laboratory appears to
demonstrate that taking vigabatrin leads to rapid weight loss and
reduced food intake. The data was published online as of August 20,
2008 in the journal Synapse, a prestigious peer-reviewed neuroscience
publication.
Catalyst Pharmaceutical Partners is currently evaluating the use of
CPP-109, its version of vigabatrin, for the treatment of both cocaine
and methamphetamine addiction. Two FDA-approved U.S. Phase II clinical
trials are currently ongoing. CPP-109 is an orally administered, small
molecule drug which inhibits psychostimulant-induced dopamine release.
According to the study published in Synapse, a total of 50 adolescent
and adult animals, all genetically bred to be obese, were assigned to
either a control group or groups that received vigabatrin at various
dose levels and were monitored for up to 40 days. The controls received
daily salt water (saline) injections, while those in the study groups
received up to 300 milligrams of vigabatrin per day. All animals
received injections for two, 7-13 day periods, with breaks in between.
At the end of the 40 day period, all animals receiving vigabatrin
weighed significantly less than the control subjects. In fact, those
animals that were bred to be obese experienced a loss of up to 19
percent of their total weight, while non-obese animals lost 12 to 20
percent of their total weight following short-term treatment with
vigabatrin. Amy DeMarco of Brookhaven led the study working in the
laboratory of Brookhaven Lab senior scientist, Stephen Dewey, Ph.D.
(Dr. Dewey is the Chairman of Catalyst's Scientific Advisory Board).
The Brookhaven National Laboratory press release may be accessed at:
http://www.bnl.gov/bnlweb/pubaf/pr/PR_display.asp?prID=811.
Commenting on today's news, Patrick J. McEnany, Chairman and Chief
Executive Officer of Catalyst Pharmaceutical Partners, noted, "We are
very encouraged by this new animal data, which shows the long-term
prospects of using vigabatrin for the treatment of obesity, which is
currently at epidemic proportions in the U.S. In addition to
development of CPP-109 for treatment of cocaine, methamphetamine and
other substance addictions, the compound appears to provide a platform
for multiple indications, including as a potential treatment for
obsessive compulsive disorders. In fact, as previously reported, we are
currently seeking to conduct a Phase II clinical trial later this year
evaluating CPP-109 for the treatment of binge eating disorder."
FORTRESS FINANCIAL GROUP INCORPORATED (OTC: FFGO) "Up 33.33% on Friday"
Detailed Quote: http://www.otcpicks.com/quotes/FFGO.php
Fortress Financial Group, Inc. was primarily engaged in the issuing and
marketing of prepaid debit card and related payment solution
activities. Through the closure of the Trinity Mercantile Finance Group
and the Mortgage Bank acquisitions; Fortress Financial Group, Inc. is
now expediting its plans to become a broadly based Consumer Finance
Group. The "Mortgage and Consumer Lending Divisions" will comprise the
vast majority of the Group's earnings in the immediate to medium term.
The Company is utilizing is substantial Balance Sheet of circa US$100
million comprised of quoted and unquoted Gold Mining & Exploration
stocks (this is after the payment of the Extraordinary Dividend of
US$400 million to stockholders); to aggressively fund a large number of
acquisitions in the consumer financial services sector; initially
focused in the Mortgage Lending and Banking sectors.
FFGO News:
August 22 - Fortress Financial Group, Inc. Receives Substantial Bid for
Gold Assets
Company Confirms That It Has Received a 30% Higher Bid for Its Gold
Assets
Fortress Financial Group, Inc. (OTC: FFGO) confirms that it has
received a very substantially higher bid for its "Bouse" and its "South
Copperstone" Gold assets.
The Company will announce full details prior to the market open on
Monday, August 25, 2008.
This will not delay any payments of dividends, and should this bid be
accepted it will increase the dividend payment by as much as 30%.
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