Friday 13th August 2004 |
Text too small? |
One company with loads of groundbreaking research behind it; a ton of potential but no actual earnings is Pacific Edge Biotechnology.
Pacific Edge has been developing products for cancer treatment, an area of research where progress can be measured in years.
The shares have jumped up and down a bit lately on news that the company is close to signing a breakthrough deal with a Japanese pharmaceutical company, which could offer multimillion-dollar investment.
This is pretty good news because at balance date in March the company's capital was $9.62 million, accumulated deficit was $7.09 million, leaving shareholders' equity of $2.52 million.
That has since been boosted by a private placement of six million shares, raised by brokers Forsyth Barr.
But the company is burning through $1.4 million a year, according to chairman Trevor Scott.
If the Japanese deal goes through, and the company is negotiating with two other firms there as well, Pacific Edge could secure development work for at least four years and be able to fund more oncology tests.
The company, based near the University of Otago, has developed an extensive oncology database to correlate clinical information on cancer progression.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes