On Thursday, WPCS International Incorporated (NASDAQ:WPCS)’s shares climbed, after WPCS International, declared that its domestic operation was awarded $14.4 million in new contracts during the month of March 2015.
The two San Francisco-based structured, low voltage communications cabling and installation projects comprise an $8.4 million contract for the California Pacific Medical Center, Cathedral Hills, a new 274-bed hospital and a $4.5 million contract for the Trans Bay Center Project, a visionary and transformational transportation and housing project that, once accomplished, will be the tallest structure in San Francisco. In addition, WPCS was also awarded $1.5 million in new work from existing customers.
WPCS International Incorporated provides low voltage communication infrastructure services in the public services, healthcare, energy, and corporate enterprise markets worldwide.
iBio, Inc. (NYSEMKT:IBIO)’s shares jumped during the last trading session on Thursday, as on March 30, iBio declared it received notice from the European Patent Office that the opposition period expired for a bio-defense product patent granted to iBio, and no opposition was filed.
The patent, entitled “Yersinia Pestis Antigens, Vaccine Compositions and Related Methods” (European patent EP 2178558), comprises claims covering plague antigens fused to a thermostable protein such as the Corporation’s iBioModulator ™ thermostable immunomodulator, in addition to vaccine compositions and a method for producing the antigen.
“This is an important extension of our commercial platform,” said Robert Erwin, iBio’s president. “We expect our success with vaccine and therapeutic product candidates for use against serious infectious disease agents with weapon potential, such as plague bacillus, to be of interest to governments and companies engaged in supplying disease countermeasures.”
iBio is developing proprietary products for the treatment of a range of fibrotic diseases counting idiopathic pulmonary fibrosis, systemic sclerosis, and scleroderma. IBIO-CFB03, produced using the corporation’s iBioLaunch™ gene expression platform, is the first product candidate from this program designated for IND development.
At the end of Thursday’s trade, Novogen Limited (NASDAQ:NVGN)’s shares climbed, after Novogen declared that studies conducted at The University of Queensland Diamantina Institute (UQDI) revealed that experimental drug, Anisina, killed melanoma cells irrespective of their mutational status.
The significance of this finding lies in the fact that melanoma is associated with a variety of mutations, with those to the BRAF gene being the most prominent. A mutation to the BRAF gene occurs in about half of all melanoma patients and two drugs that target that mutation (vemurafenib and dabrafenib) have come to market in recent times. No targeted therapy exists for the 50% of melanoma patients whose tumors do not have the BRAF mutation. But even where a response is obtained with a BRAF-inhibitor, resistance typically develops within a year of treatment. Therefore the development of a drug that kills melanoma cells irrespective of their BRAF or any other mutational status has become an urgent clinical imperative.
Novogen believes that Anisina represents a noteworthy potential opportunity to meet this need.
Novogen Limited is engaged in the pharmaceutical research and development business in Australia. The corporation has primarily two drug technology platforms, which comprise super-benzopyrans (SBPs) and anti-tropomyosins (ATMs).
Magellan Petroleum Corporation (NASDAQ:MPET), ended its Thursday’s trading session in Green, after an independent energy corporation, declared that it has concluded that the CO2-improved oil recovery pilot project at Poplar has been a technical success, and demonstrates that the CO2-EOR technique is a technically viable tertiary recovery method in the Charles formation at Poplar Dome. The Corporation reached this conclusion on the basis of the oil production response observed in, and other injection and pressure data gathered from, the Pilot.
CO2 injection into the Pilot’s single injector well began in August 2014. In October, the Pilot’s four producer wells were opened for production. Since then, oil production has raised in three of the four producer wells in response to CO2 injection, and the Corporation anticipates the fourth well will demonstrate an oil production response soon. The current run-rate of production from the three producing wells together is between 50 and 75 bopd and is predictable to raise gradually through the summer.
Magellan Petroleum Corporation, an independent energy corporation, is engaged in the exploration and production of oil and gas in the United States, Australia, and the United Kingdom. It focuses on the development of the Poplar Dome oil field project in Roosevelt County, eastern Montana; and exploration of the Weald Basin in Sussex county, onshore United Kingdom.
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