[CMF-checkins] Is The time right to jump into this stock
Raul Fletcher
r_fletcher_vo at carnegie.se
Wed Jul 28 19:40:02 EDT 2004
Breaking News Alert
Special Biotech Alert
Genex Pharmaceutical, Inc.
(OTCBB: GENX)
Revenues 3 months 3/31/04; $436,208
(Source: 8K Filed 6/29/04)
News After the Close
Press Release Source: Genex Pharmaceutical, Inc.
Chinese FDA Approves Clinical Trials of Genex Pharmaceutical's New Dental
Product Tuesday July 27, 5:42 pm ET
NEW YORK--(BUSINESS WIRE)--July 27, 2004--Genex Pharmaceutical, Inc. (stock
symbol: GENX; a Delaware corporation, is a profitable biomedical technology
company with a unique product for treating various bone-related injuries
called Reconstituted Bone Xenograft (RBX), which is a medical device approved
by the SFDA (Chinese State Food and Drug Administration). RBX is suitable for
compound or complex bone fractures, compression fractures and intractable
fractures, bone defects, vertebral column or joint rehabilitation and for bone
absence after tumor removal such as a bone cyst. The SFDA has approved
clinical trials of the company's new product for dental applications,
micro-particle RBX. The clinical trials will focus on orthodontic and
periodontal procedures. Micro-particle RBX provides a minimally invasive
technique that will improve dental surgery procedures and potentially
accelerate recovery from surgeries.
"Approval for clinical trials of micro-particle RBX is a significant step in
the development and expansion of our product pipeline. We are extending our
success of treating orthopedic surgical patients with RBX to the vast number
of dental patients seeking minimally invasive technologies in orthodontic
treatment," commented Mr. Fuzhi Song, Chairman and CEO of Genex.
According to a National Dental Survey conducted by the PRC Ministry of Health,
from 1995 to 1998, 570 million Chinese people suffer from advanced tooth
decay, 80% of Chinese people over the age of 7 suffer from permanent tooth
decay, 4% over 60 need gum treatment and 2% of the nation's over 40 population
require dental grafting.
About Genex Pharmaceutical, Inc.
Genex Pharmaceutical, Inc. is a biomedical technology company with distinctive
proprietary technology for an orthopedic device that treats bone-related
injuries. Headquartered in Tianjin, China, the Company manufactures and
distributes Reconstituted Bone Xenograft (RBX), to 400 hospitals in 22
provinces throughout mainland China. RBX is approved by the State Food and
Drug Administration (SFDA) in China (the Chinese government agency that
regulates drugs and medical devices). RBX offers a modern alternative to
traditional methods of treating orthopedic injuries.
Safe Harbor Statement
Statements about the Company's future expectations, including future revenue
and earnings and all other statements in this press release, other than
historical facts, are "F0RWARD-looking" statements and are made pursuant to
safe harbor provisions of the Securities Exchange Act of 1934. Such
F0RWARD-looking statements involve risks and uncertainties and are subject to
change at any time. The Company's actual results could differ materially from
expected results. In reflecting subsequent events or circumstances, the
Company undertakes no 0BLIGATI0N to update F0RWARD-looking statements.
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statements" within the meaning of Section 27A of the Securities Act of 1933
and Section 21B of the Securities Exchange Act of 1934. Any statements that
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or performance are not statements of historical fact and may be "F0RWARD
looking statements."F0RWARD looking statements are based on expectations,
estimates and projections at the time the statements are made that involve a
number of risks and uncertainties which could cause actual results or events
to differ materially from those presently anticipated. F0RWARD looking
statements in this action may be identified through the use of words such as
"projects", "foresee", "expects", "will," "anticipates," "estimates,"
"believes," "understands" or that by statements indicating certain actions
"may," "could," or "might" occur. As with many microcap stocks, today's
company has additional risk factors worth noting. Those factors include: the
company advancing cash to related parties and a shareholder on an unsecured
basis, one vendor, a related party through a majority stockholder, supplies
ninety-seven percent of the company's raw materials, reliance on two customers
for over fifty percent of their business and numerous related party
transactions and the need to raise capital. Breaking News Alert does not
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