posted
Jim, what is your theory on that transaction? MM transfer, someone got caught in areal bad market order?
The silver lining in the cloud from the late filing is that biz in Nigeria must be "booming!"
"We have significantly expanded our operations in Nigeria over the past year. This factor has resulted in our requiring additional time and coordination in completing our disclosure. As a result of the foregoing reason, we will not, without unreasonable effort and expense, be able to complete our Form 10-QSB within the prescribed time period. The completed filing is expected to be available within the requested five day extension period."
-------------------- I may be wrong, but I don't think so....
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posted
That's the $64,000 question. This stock will go up significantly upon any approval news, profits and revenues won't really matter as is the case with most pharmaceutical companies in development. Your betting more on the news than you are on the profits IMO.
More on the drug: In July, 2002, Xechem acquired an exclusive, worldwide license to develop NICOSAN™ (HEMOXIN™ in the US) from the Nigerian government and, subsequently, received U.S. orphan drug status for HEMOXIN™ from the FDA in August, 2003. The product is made from four botanical species indigenous to Nigeria. NICOSAN™ is produced there today by Xechem. The Company expects to launch NICOSAN™ in Nigeria’s 4,000,000 SCD patient market, the world’s largest SCD market, in 2005. SCD, a devastating hereditary blood disorder characterized by acute painful crisis, organ damage, anemia and early death, affects over 80,000 African Americans in the U.S. alone. Based on published data and human experience, the Company believes the successful clinical development of HEMOXIN™ represents an unusually low risk. In phase II human studies in Nigeria, published in Phytomedecine, HEMOXIN™ was shown to be safe in all patients and effective in approximately 80% of patients. As published in the May 2003 issue of the British Journal of Hematology, Asakura and colleagues from Children’s Hospital of Philadelphia (CHOP) and the University of Pennsylvania demonstrated the anti-sickling effects of HEMOXIN™ in transgenic mice. This lends significant credibility to the Nigerian human experience to initiate clinical trials in the U.S.
quote:Originally posted by hellars:
quote:Originally posted by BULListic: Based on the size of the manufacturing plant in Nigeria, I'd say 99.999%
quote:Originally posted by hellars: How sure of a thing is the approval?
And how much revenue and profits are we talking in the first couple years of production?
-------------------- I may be wrong, but I don't think so....
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Xechem International Inc, OTC BB:XKEM Date: May 18, 2006 This stock was mentioned in all the following reports between May 10 and May 17, 2006; 1)Plunkett's Biotech & Genetics Industry Almanac 2)Reuters Investment Profile 3)Plunkett's Biotech & Genetics Industry Trends & Statistics 4)ValuEngine Summary 5)Wright Reports 6)Weiss Ratings
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
I'm in!! Come on good news I am ready to help give out meds. With all the volume we could see good numbers next week. "How much is a man willing to pay to make a penny"
-------------------- How much is a man willing to spend to make a penny?
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quote:Originally posted by Johnwayne: Juice- 30% of my EQBM profit is going to be parked here. In fact 30% of every profit I make next week is going here. Good luck all.
I loaded up on this a couple months ago and have been holding waiting for the approval. This is going to be big IMO. The only "real" long term hold I have are XKEM BIGN VNBL and free shares of RSHN. That and throwing a few hundred at BS like PAIM SMMW
-------------------- The difference between genius and stupidity is that genius has its limits
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quote:Originally posted by hellars: Someone mentioned this could get approval by the end of the month?
What evidence is there to assume that?
It's mostly speculation. Most of which are posted throughout this thread and the PM I sent you read through this thread again. Here's one:
From RB, By: alexng00 15 May 2006, 12:58 PM EDT Msg. 31490 of 31685
In addition to the feedbacks provided by Steve Burg, I called directly NAFDAC organisation this morning to get other confirmation and updates. I pick up the phone number from the NAFDAC website and reach a person within NAFDAC who provides me another number of a responsible person,I call that person and I ask her about the submission from Xechem for Nicosan, she checks the system and confirms to me that Xechem has submitted the master drug file in March, she said they submitted the Nicosan product for 250mg, and I ask her what is the status right now, and she said it' a "go far status", so I ask her what does it mean "go far" status, she says it's the product in an advanced stage for approval, then I ask her point blank, when the product will be approved please, and she says end of May. She gives me her email address and ask me to send email if I have other questions, as the quality of the phone line is not so good. I google her name and find out that she is the Director of the Registration&Regulatory approval. Guys and girls, the Nicosan product is going to be approved latest of the end of the month. Stay tuned and GLTA
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
ok, i have a question, and dont want to offend anyone. but where they are building there facilitie is in nigeria, how well do we trust that... i have been scammed bt nigerians in the past. and i was looking at all the pictures on people working there, and saw no americans(that i could tell), but i might be wrong.. i just wanted to point that out. and see what everyone else had to say about it.
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posted
it also says in this 2004 article that this product would be on the market within 12 months.. back in 2004, it also says they are working in this in india..
posted
This from the form 10 lookis very promising
(3) We are in negotiations with UPS Capital Business Credit to obtain financing in the sum of $8,253,000 for our pharmaceutical project in Nigeria. In March 2006, we paid a $50,000 non-refundable good faith deposit to UPS and the loan facility proposal is being processed under the U.S. Ex-Im Bank Loan Guarantee Program. One requirement, among others, of the loan facility is the provision of a Nigerian bank guarantee in the amount of the proposed loan, from an identified Nigerian-based bank.
Two Nigeria-based banks, have been identified which are qualified to provide the Nigerian bank guarantee required by UPS Capital and Ex-Im Bank. UPS has provided a loan offer to us, subject to our review and approval. The two Nigerian banks must also review, and approve the UPS offer. Upon the banks' acceptance of the loan offer, they will undergo discussions with UPS regarding the final terms. If UPS completes the negotiation to its satisfaction, a formal request will be submitted by UPS Capital to Ex-Im Bank for the credit guarantee approval. If Ex-Im Bank provides the loan guarantee, UPS Capital will be authorized to disburse the funds to us.
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(7) It is anticipated that sales of our product NICOSAN(TM), a sickle cell drug, will commence in Nigeria in the second or third quarter of 2006. Initially, it is not anticipated that revenues will be significant but they should help in covering the costs of the operation.
We expect to continue our development efforts with respect to antifungal, anticancer, antiviral (including anti-AIDS) and anti-inflammatory compounds, as well as antiaging and memory enhancing compounds. Although we do not expect product revenues from these sources in 2006, we anticipate that these development activities may allow us to enter into more favorable licensing and/or investment arrangements.
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posted
I sort of exspected this dip when the form 10 came out you have to remember this stock is going to pay off on what people are thinking of what furture earnings will be
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posted
Even if they started production to day they would not see profit until next year but shear investor spectulation would drive the pps up
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