SARASOTA, Fla., Sept. 21, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Desert Sun Mining Corp. (TSX Venture Exchange:DSM) (AMEX:DEZ), Eyetech Pharmaceuticals Inc. (Nasdaq:EYET) and Wellstone Filters (OTCBB:WLSF)
Tuesday's Alert:
Desert Sun Mining Corp. (TSX Venture Exchange:DSM) (AMEX:DEZ) announced on Sept 15th that it has, "Received surface diamond drill results from the Morro do Vento Extension ("MVTE") area, located immediately north of the processing plant at the Jacobina Mine area, on the Bahia Gold Belt in Northeastern Brazil." Dr. Bill Pearson, P.Geo., Vice President, Exploration stated: "These results are very positive as they indicate another major target zone with the potential to outline significant higher grade resources close to existing underground workings."
Eyetech Pharmaceuticals Inc. (Nasdaq:EYET)
Eyetech Pharmaceuticals Inc. and Pfizer Inc. (NYSE:PFE) announced Monday that the European Medicines Agency has accepted the filing of their marketing authorization application for Macugen, pegatanib sodium injection, for neovascular age-related macular degeneration, referred to as AMD.
Macugen is a pegylated anti-VEGF aptamer, which binds to vascular endothelial growth factor, also known as VEGF. VEGF is a protein that plays a critical role in the formation of unwanted new blood vessels and increased leakage from blood vessels, two of the primary processes responsible for the vision loss associated with neovascular AMD.
The companies also announced that they have completed the filing of a NDA for Macugen in Canada, where it has been given priority review, and have begun clinical trials with the medicine in Japan.
The two companies will co-market the drug in the United States. Macugen is currently under priority review with the U.S. FDA.
EYET closed Monday's regular trading session at $33.55
Wellstone Filters (OTCBB:WLSF)
Wellstone Filters, developer of filter material that removes certain carcinogens and other toxins produced when tobacco is smoked, announced Monday that it has declared a 3-for-1 forward stock split to shareholders of record on September 27, 2004. Under the dividend, each holder of one share of common stock on the record date shall receive two additional shares of common stock. The payment date is October 5, 2004.
The company stated the purpose for the stock split is to benefit the shareholders by enhancing the liquidity of the common stock.
WLSF closed Monday's trading session up 0.20 at $1.76 on above average volume.
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