Another good swing. Might be a little pricey now, but if you can get in at .18 or below it is a good buy. The recent news about licensing of their Oxygent blood substitute to China has made this jump from .15 to .23, but it should consoldate around .18.
Alliance Pharmaceutical Corp. And Beijing Double-Crane Pharmaceutical Co., Ltd. Announce a Development, License and Supply Agreement for Oxygent(TM) in The People's Republic Of China 08:01 a.m. 05/16/2005 Provided by PR Newswire
SAN DIEGO, May 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Alliance Pharmaceutical Corp.("Alliance")(OTC Bulletin Board: ALLP), through its subsidiary PFC Therapeutics, LLC, and Beijing Double-Crane Pharmaceutical Co., Ltd. ("Double-Crane") today announced that they have entered into a Development, License and Supply Agreement ("Agreement") for the development of Oxygent(TM) in The People's Republic of China ("PRC").
Pursuant to the Agreement, Double-Crane will make an upfront license fee payment and certain milestone and royalty payments to Alliance. Double-Crane will conduct clinical trials in the PRC, in accordance with international guidelines, to receive marketing approval for Oxygent in the PRC. Alliance will have the right to use any data derived from the clinical trials in other countries. Double-Crane will have the option to manufacture Oxygent in the PRC after obtaining approval from the regulatory authorities in the PRC and they will also have a right of first refusal to add specific additional countries to the Agreement upon further negotiation with Alliance.
"Over the past year, we have worked closely with the Double-Crane professionals as well as experts from the leading hospitals in China to develop a plan for advancing the clinical development of Oxygent," said Duane Roth, Alliance Chairman and CEO. "We are very pleased to partner with such a great team that has extensive experience in clinical development, manufacturing and marketing of products that are synergistic to Oxygent."
"We are pleased to become Alliance's development partner for Oxygent in China," said Xin Li, President Double-Crane. "We have great respect for the high quality work that the Alliance development team has achieved over the past decade. We will try all our best to work together to complete the clinical testing necessary to obtain market approval."
Yu Zhang, Vice Chairman Double-Crane, who is in charge of this project, also adds, "During the past year's cooperation with Alliance team, we are glad to find that they are sincere, precise and hard-workers. After much discussion, we respect their more than 10 years of research and recognize the potential of Oxygent."
Old news now, but i forgot to post this last week
Alliance Pharmaceutical Corp. Announces Its Intention to Pursue Proof of Concept Study Relating to the Use of Oxygent(TM) for Organ Protection During Major Surgery 08:01 a.m. 05/18/2005 Provided by PRNewswire
SAN DIEGO, Calif., May 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Alliance Pharmaceutical Corp. ("Alliance") (ALLP) today announced its intent to pursue a Proof of Concept Study related to the use of Oxygent(TM) for organ protection during major surgery.
As previously announced, Alliance has entered into an Exclusivity Agreement dated December 22, 2004 with LEO Pharma A/S ("LEO") pursuant to which LEO has obtained the right to enter into a definitive license agreement for the development and commercialization of Oxygent. Pursuant to an Amendment to Exclusivity Agreement, dated February 25, 2005, entry into any such definitive license agreement with LEO is conditioned upon the results of a Proof of Concept Study to be conducted by Alliance related to the use of Oxygent for organ protection during major surgery.
The expense of this Proof of Concept Study likely would have caused Alliance to violate the covenant set forth in Section 4.12(l) of that certain Securities Purchase Agreement dated September 21, 2005 by and among Alliance and certain of its investors (the "Securities Purchase Agreement") which requires that Alliance maintain on hand a minimum of at least five million five hundred thousand dollars ($5,500,000) in cash or cash equivalents in order not to be in default under its Senior Convertible Promissory Notes (the "Cash Covenant"). Alliance had been seeking the consent of Alliance's Lender Committee to commence the Proof of Concept Study.
However, the Cash Covenant ceases to apply on the date that Alliance enters into a binding agreement for the joint development of Oxygent with a Qualified Third Party (as that term is defined in the Securities Purchase Agreement) obligating such third party to make certain payments or undertake certain activities.
On May 13, 2005, Alliance entered into a Development, License and Supply Agreement with Beijing Double-Crane Pharmaceutical Co., Ltd. ("Double-Crane") for the development and commercialization of Oxygent in China ("Double-Crane Agreement"). Alliance has notified the Lender Committee that Double-Crane is a Qualified Third Party (as that term is defined in the Securities Purchase Agreement) and that the Double-Crane Agreement satisfies the termination requirements of the Cash Covenant. Accordingly, as of May 13, 2005, the restrictions related to the amount of cash and cash equivalents that Alliance must maintain on hand in order not to be in default under its Senior Convertible Promissory Notes, as set forth in the Cash Covenant, have ceased and are of no further force or effect.
**********: ALLP, INPC, SZE have been on ********** naked short list for 13 consecutive trading days 09:45 a.m. 06/14/2005 Provided by M2
Jun 14, 2005 (M2 PRESSWIRE via COMTEX) -- **********, www.**********, announced today that these select companies have been on the NASDAQ, AMEX and NYSE naked short threshold lists for 13 consecutive trading days: Alliance Pharmaceutical Corp.. (ALLP), InPhonic, Inc. (INPC) and Suez, SA (SZE) . For a complete list of companies on the naked short lists please visit our web site.
Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. Regulation SHO mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.
Alliance Pharmaceutical Corp. (ALLP) engages in identification, design, and development of medical products for human health applications. The company is developing its lead product, Oxygent, which is an intravascular oxygen carrier. Oxygent is used as a temporary blood substitute' to reduce the need for donor blood in surgical and other patients at risk of acute oxygen deficiency. The company is also conducting multicenter international clinical trials on a synthetic perfluorochemical (PFC) emulsion-based oxygen therapeutic, in both Europe and North America. In addition, it is developing intellectual property and know-how for potential products to treat immune disorders, including autoimmune disease, cancer, and infectious disease. The company was incorporated in 1983 and is headquartered in San Diego, California. With 23 million shares in its float and an undisclosed short position, the failure to deliver in shares of ALLP has not been resolved and a buy-in is expected.
InPhonic, Inc. (INPC) provides online wireless services and devices. The company operates in three segments: Wireless Activation and Services; Mobile Virtual Network Operator (MVNO) Services; and Data Services. Wireless Activation and Services segment sells and activates wireless services and devices through private-labeled Web sites that it creates and manages for third parties, including online businesses, member-based organizations and associations, and national retailers. It also sells through its own branded Web sites. MVNO Services segment markets and sells its own branded wireless services to consumers based on wireless airtime minutes. Data Services segment provides subscribers with wireless access to work and personal information, including email, calendar, corporate directories, personal contacts, and documents, as well as wireless entertainment and content. The company also develops a proprietary e-commerce platform that integrates the merchandising, provisioning, procurement, customer care, and billing operations into a single system for the online sale of wireless services and devices. InPhonic was incorporated in 1997 and is headquartered in Washington, D.C. With 17.21 million shares in its float and 2.98 million shares declared short as of May 10th, the failure to deliver in shares of INPC has not been resolved and a buy-in is expected.
Suez (SZE) engages in the development, design, implementation, and operation of systems and networks to companies, municipalities, and individual customers. It operates in three segments: Energy, Environment Local Services, and Environment Industrial Services. The Energy segment engages in the production, transmission, and distribution of electricity or gas; the operation of cogeneration and waste-to-energy facilities; and the provision of facility management services. The Environment Local Services segment provides private individuals and local authorities with water management and water treatment services under concession contracts; water purification facility design and construction; and waste collection and treatment services, including sorting, recycling, composting, landfilling, and hazardous waste treatment. The Environment Industrial Services segment provides industrial process facility services to industrial customers. Suez was formed in 1997 by the merger of Compagnie de Suez and Lyonnaise des Eaux. The company is headquartered in Paris, France. With 1.02 billion shares outstanding and 139.190 shares declared short as of May 10th, the failure to deliver in shares of SZE has not been resolved and a buy-in is expected.
Looking to pick some more up tomorrow. I sold off a bunch at .25 last run, but it normally swings up closer to .30 with good news. Waiting to get an update on the development of the Oxygent trials in Europe and China. In the meantime this plays as a pretty good swing, but if they ever get Oxygent full approval, this would be a very lucrative long play as well.