latest news releases from the newsroom
Jerini AG Reports First Quarter Financial Results
BERLIN, May 15, 2006 (PRIMEZONE) -- Jerini AG (FSE:JI4) reported financial results for its first quarter ended March 31, 2006. Under International Financial Reporting Standards (IFRS), revenues for the three-month-period increased by 61.4 percent to EUR 3.2 million from EUR 2.0 million for the same period in 2005, primarily attributable to revenues from a partnership agreement with Kos Life Sciences, Inc. As of March 31, 2006, cash and cash equivalents amounted to EUR 89.3 million, compared to EUR 96.7 million at year end 2005. "Our solid financial position further supports our expansion in the area of sales and marketing for the expected 2007 market launch of Icatibant for hereditary angioedema," said Jens Schneider-Mergener, CEO of Jerini. "We remain on track to report top line results from both Phase III clinical trials in the third quarter." Research and development expenses of EUR 5.9 million (EUR 3.0 million in the prior year period) reflect higher spending for clinical studies, including the current Phase III hereditary angioedema (HAE) trials, and for the advancement of other projects. An increase in general and administrative expenses to EUR 1.6 million (compared to EUR 1.1 million in the prior year period) is mainly the result of expenses related to personnel, compensation for stock options granted in the third quarter of 2005, and to the increased reporting requirements of the company and investor relations activities. Therefore, loss from operations before tax and finance cost (EBIT) increased to EUR 5.3 million (EUR 3.2 million in the prior year period). For the three-month-period ended March 31, 2006, net loss amounted to EUR 4.7 million (compared to EUR 3.0 million in 2005), and loss per share amounted to EUR 0.09 million (EUR 0.38 million in the prior year period). Cash used in operating activities as of March 31, 2006 totaled EUR 6.2 million (compared to EUR 3.0 million in the prior year period). Net cash burn for the first three months in 2006 amounted to EUR 6.7 million. Net cash burn is calculated by the addition of cash used in operating activities (EUR 6.2 million) and cash used in investing activities (EUR 0.5 million), as disclosed in the unaudited consolidated cash flow statements for the three-month-period ended March 31, 2006.
OTA Flash Forum c/o Bitfone
OTA Flash Forum Formalizes Structure and Elects Jim Eckels as New Chairman
LAGUNA NIGUEL, Calif., May 15, 2006 (PRIMEZONE) -- The OTA Flash Forum (OTAFF), a special interest group addressing the technical and operational issues facing over-the-air (OTA) management of mobile devices, today announced that it has formalized its structure as an independent, nonprofit organization and has elected Jim Eckels, general manager of Digital Solutions & Accessories at Motorola as the new chairman of the OTA Flash Forum. Gene Wang, CEO of Bitfone and co-founder of the OTA Flash Forum, will remain actively involved in OTAFF as a board member.
Golden Patriot Corp.
Crews Being Mobilized on Past Producing Lucky Boy Uranium Mine
UNIONDALE, N.Y., May 15, 2006 (PRIMEZONE) -- Golden Patriot, Corp. ("GPTC") (OTCBB:GPTC) (Frankfurt:GPU) is pleased to announce that it has been informed by the operator (Ashex) of the project that crews are being mobilized for further exploration and in preparation for the upcoming drill program on the Lucky Boy past producing uranium mine in Gila County, Arizona. The company has advanced to the operator the funds for the necessary state and federal bond requirements. The operator is now preparing the documentation required for the drill permits. The operator signed-off on a service contract with SWCA Environmental Inc., to initiate the biological and archeological surveys on the Lucky Boy property as required by BLM and State law and in compliance with the Plan of Operations. This normal procedure must precede any surface disturbance like road building, trenching, drilling etc.
SmallCap Sentinel: Using Cannes to Spark Interest in Film Companies
IRVINE, Calif., May 12, 2006 (PRIMEZONE) -- "The Cannes film festival is perhaps the most Darwinian opportunity for smaller film companies to compete and bring their films to market," said SmallCap Sentinel analyst D.R. Clark. "There the emerging film company stands next to the largest, their creative work competing without regard to ad budget, theatre count or other factors that often stack the deck in favor of the powerhouse filmmakers in the open market."
Scott+Scott, LLC Notifies Investors of Filing Deadline: Four Business Days to Move for Lead Plaintiff Appointment in Class Action Against PainCare Holdings, Inc. -- PRZ
COLCHESTER, Conn., May 12, 2006 (PRIMEZONE) -- Scott+Scott, LLC, reminds investors that four business days remain in which to request that the Court appoint them as lead plaintiff in a securities-fraud action against PainCare Holdings Inc. ("PainCare" or the "Company") (AMEX:PRZ) and certain officers. On April 3, 2006, Scott+Scott, LLC, filed a class action in the U.S. District Court for the Southern District of Florida on behalf of PainCare securities purchasers during the period August 27, 2002 through March 15, 2006, inclusive (the "Class Period").
Scott+Scott, LLC Files Class Action Lawsuit Against Fairfax Financial Holdings Ltd. on Behalf of Investors -- FFH
COLCHESTER, Conn., May 12, 2006 (PRIMEZONE) -- On May 12, 2006, Scott+Scott, LLC filed a class action in the U.S. District Court for the Southern District of New York against Fairfax Financial Holdings Ltd. ("Fairfax Financial" or the "Company") (NYSE:FFH) and certain officers. The action is on behalf of Fairfax Financial securities purchasers during the period March 24, 2004 through March 21, 2006, inclusive (the "Class Period"), for securities law violations. This action is also brought on behalf of all purchasers of Fairfax Financial 7.75% senior notes due April 26, 2012 (the "Sub-class"), pursuant to the August 25, 2004 offering registration statements and/or prospectus. Fairfax Financial, through its subsidiaries, operates as an underwriter of property and casualty insurance and reinsurance. The complaint alleges that defendants made false and misleading statements regarding the Company's financial performance by improperly accounting for transactions relating to finite contracts and treaties at its Odyssey Re Holdings subsidiary ("Odyssey Re") and concealing an internal review of those matters. As a result, the price of the Company's securities was inflated during the Class Period, thereby harming investors.
Pomerantz Haudek Reminds Northfield Laboratories, Inc. Investors of Approaching Lead Plaintiff Deadline of May 19, 2006 -- NFLD
NEW YORK, May 12, 2006 (PRIMEZONE) -- Investors of Northfield Laboratories Inc. ("Northfield" or the "Company") (Nasdaq:NFLD), are reminded that May 19, 2006 is the deadline to ask the Court to appoint you as lead plaintiff for the class. Pomerantz Haudek Block Grossman & Gross LLP ("Pomerantz") (www.pomerantzlaw.com) filed a class action lawsuit in the United States District Court Northern District of Illinois, Eastern Division against Northfield, on behalf of purchasers of the common stock of the Company during the period from February 20, 2004 to February 21, 2006, inclusive (the "Class Period"). The complaint alleges violations of Section 10(b) and Section 20(a) of the Exchange Act and Rule 10b-5.
Scientific Industries Reports Increased Net Income for Interim Periods
BOHEMIA, N.Y., May 12, 2006 (PRIMEZONE) -- Scientific Industries Inc. (OTCBB:SCND) reported net income of $288,800, or $0.29 per basic share, and $102,200, or $0.10 per basic share, for the nine and three month periods ended March 31, 2006, respectively -- increases of $74,700 (35%) and $7,500 (8%) from the net income for the same periods of the prior year.