Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

IMMUNOTHERAPEUTICS' IMMTHER MACROPHAGE ACTIVATOR IN PHASE II

Executive Summary

IMMUNOTHERAPEUTICS' IMMTHER MACROPHAGE ACTIVATOR IN PHASE II for adjunctive cancer therapy, with a focus on patients with lung cancer, colorectal cancer metastatic to the liver, and metastatic breast cancer. Fargo, N.D.-based Immunotherapeutics, a cancer drug start-up firm, said Phase I studies showed improvement in three of 12 patients. Phase II efficacy studies have begun; however the company says it cannot complete the trials without a new infusion of cash. Immunotherapeutics noted its urgent need for new capital in a June 15 filing with the Securities and Exchange Commission. The company proposed to raise $3 mil. in new funds through the sale of 3,000 units (common shares plus Class C warrants). D.H. Blair is underwriting the offering, which has not yet received SEC clearance. As of April 30, the company had working capital of $19,232, down from a high of $478,832 immediately after its initial public offering in April 1987. Since the firm's inception, the cumulative net loss has amounted to $3.2 mil. The start-up's independent auditor, KPMG Peat Marwick, highlighted the importance of the proposed offering, noting in the filing that "the company's recurring losses from operations and net capital deficiency raise substantial doubt about the entity's ability to continue as a going concern." Immunotherapeutics' first public offering raised $2 mil., of which approximately $1.8 mil. went toward research and development activities and clinical trials related to ImmTher. In April 1989 a rights offering through existing shareholders yielded another $1 mil. Prior to going public, Immunotherapeutics (and its predecessor company Biological Therapeutics) had raised$600,000. In addition to continued support for ImmTher, Immunotherapeutics intends to use a portion of the proceeds from the current offering to back further R&D for a second disaccharide peptide-based compound for macrophage activation in cancer treatment. Immunotherapeutics also has developed a technology that permits the prolonged use of cytokines through the immobilization of these proteins in liposomes. Immunotherapeutics has ties to the University of North Dakota. The company leases 2,900 square feet of space and the use of certain major scientific equipment from the university. Company principal, President and Scientific Director Gerald Vosika, MD, founded the company in February 1985. Currently chief of oncology for the University of North Dakota, Vosika previously worked for the Veterans' Administration from July 1980 to May 1987 and as chief of hematology for the university and chief of oncology for the Fargo V-A Hospital from 1980 to March 1988.

You may also be interested in...



Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth

UsernamePublicRestriction

Register

MT125529

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel