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AVNR, PWRM, APCVZ, ORFG, COCO - Stock News Alert! - Monday December 6th, 2010


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Avanir Pharmaceuticals (Nasdaq:AVNR) reported unaudited financial results for the three and twelve months ended September 30, 2010.

For the fourth quarter of fiscal 2010, AVANIR reported a net loss of $9.7 million, or $0.10 loss per share, compared with a net loss of $7.0 million, or $0.09 loss per share, for the same period in fiscal 2009.

Net revenues consisting primarily of the recognition of deferred revenue were $726,000 and $1.0 million for the fourth quarter of fiscal 2010 and fiscal 2009, respectively. Total operating expenses were $9.5 million in the fourth quarter of fiscal 2010, compared with $7.7 million in the comparable fiscal 2009 period. Cash used in operations during the fourth quarter of fiscal 2010 was $7.2 million.

AVANIR Pharmaceuticals, Inc. is a biopharmaceutical company focused on bringing innovative medicines to patients with central nervous system disorders of high unmet medical need. As part of our commitment, we have extensively invested in our pipeline and are dedicated to advancing medicines that can substantially improve the lives of patients and their loved ones.

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Power3 Medical Announces Execution of Definitive Agreement to Acquire Rozetta-Cell Life Sciences

Power3 Medical Products, Inc. (OTC:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, announced recently that it has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc.

Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger.

The acquisition of Rozetta-Cell is expected to be completed by end of Dec 2010.

Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally.

Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.

To learn more about PWRM visit: http://www.Power3Medical.com

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Fresenius Kabi Pharmaceuticals (Nasdaq:APCVZ) APP Pharmaceuticals, Inc., a wholly owned subsidiary of Fresenius Kabi Pharmaceuticals Holding, Inc., (NASDAQ:APCVZ) announced November 30, 2010 that it has received approval from the U.S. Food and Drug Administration (FDA) to market Topotecan for Injection, and plans to launch immediately.
Topotecan for Injection is therapeutically equivalent to the reference-listed drug Hycamtin®, which is currently marketed by the innovator GlaxoSmithKline, plc. According to IMS data, U.S. sales of Hycamtin®, in 2009 were $157.1million 1.

Fresenius Kabi AG is the leader in infusion therapy and clinical nutrition in Europe and in its most important countries of Latin America and Asia Pacific. Fresenius Kabi’s core product range includes infusion solutions, blood volume substitutes, I.V. drugs and parenteral nutrition, as well as products for enteral nutrition. Furthermore, the company provides concepts for ambulatory health care and is focused on managing and providing home therapies.

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Orofino Gold Corp. (ORFG.PK)

Orofino Gold Corp. is a US (Nevada) company established for the purpose of creating a significant exploration and mining group operating in Colombia.

The major criteria for selection of properties will include:

  • Significant historical production
  • Favorable geology for hosting major ore bodies
  • Significant property area for large target exploration
  • Recent results available
  • Favorable infrastructure and access to allow mine development
  • Receptive local government and populace.
  • In addition Orofino has acquired a database comprised of exploration and mining results from previous operators who left when the global mining sector experienced a major downturn in the 1997-2000 time frame.

All properties meet the above criteria outlined above.

The second part of ORFG’s strategy to become a recognized player in the Colombia mining sector was the acquisition of an interest in an operating mine. ORFG has acquired a 55% interest in the La Azul/La Estrella property with the rights to acquire up to 80%.

ORFG’s Mission

To become a 100,000 ounce gold producer from first mine and to replicate this on each of the current optioned properties.

The vision of Orofino Gold Corp.:

  • To become a good Joint Venture Partner
  • To become a premier Mid Tier precious metals mining operation in Colombia
  • To fast track first mine to commercial production.

Intrinsic, and essential, to this vision is ORFG’s moral, ethical and social commitment to develop the communities related to the projects.

To learn about ORFG visit: http://www.orofinogold.com

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Corinthian Colleges Inc. (Nasdaq:COCO) Chief Executive Officer Peter Waller resigned after less than two years on the job. Corinthian, one of the larger players in the controversial for-profit education sector, said Waller resigned from both the CEO post and as a member of its board of directors. The board tapped chairman Jack Massimino, who served as chief executive from Nov. 2004 through July 2009, to resume the role of CEO, effective immediately. Massimino will continue to serve as chairman.

Corinthian Colleges, Inc., a post-secondary education company, provides various diploma programs, as well as associate’s, bachelor’s, and master’s degrees in the United States and Canada.

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