Maybe this is why SPEX has been so strong lately despite a horrible market??On December 6 and 7, 2005 SPEX went from $1.26 to $5.85 with over 20M shares traded, or twice the float, when it announced that the FDA had approved Naturlose's Phase 1 and 2 clinical data allowing the company to pursue Phase 3 clinical trials (see lower chart):http://stockcharts.com/charts/gallery.html?spexWith Phase 3 Naturlose patient recruiting in Australia and the US almost complete, SPEX will likely update the investment community about the official launch of this pivotal phase clinical trials ....very ....very soon.
This means that another explosion in pps and shares traded is just around the corner.Regarding Phase I and Phase 2 clinical trials, the FDA agreed that:
- Naturlose has an excellent safety profile
- Naturlose taken before food consumption prevents an increase in glucose levels in the blood
- Patients taking Naturlose lost weight and experienced a significant increase in HDL or good cholesterol
Naturlose is a naturally occurring compound found in milk and various fruits and as such it does not have harmful side effects and limitations like Starlix, glucotrol, insulin, and other products in the market do.SPEX INVESTMENT HIGHLIGHTS:
- Market cap: $28M
- Est. 2007 Revenues: $28M
- Float: 9M
- Cash: $10M
- No long term debt
SPEX's Naturlose is also currently being tested at University of Maryland as an anti-gingivities and anti-plaque agent to be used in toothpaste, mouthwash, and sugarless chewing gum.
Naturlose is also being tested in many important applications such as the preservation of critical blood components.
Unlike other biotecs, SPEX funds its BioSpherix Division's clinical development through strong earnings coming from its InfosPherix, information services division. InfoSpherix's backlog has increased from $11M to $75M within the last 12 months.
SPEX has been profitable or break-even the last 2 quarters due to InfoSpherix's strong increase in backlog and new contracts despite a huge jump in R&D expenses to fund its clinical trials.http://finance.yahoo.com/q/is?s=SPEX
Tagatose/Naturlose is the newest member of the sweeteners category (potential Equal and Splenda replacement). Tagatose has been granted GRAS (Generally Recognized As Safe) status by the FDA allowing it to be included in foods as a sweetener.
On December 15, 2006, SPEX announced that tagatose was formally approved "as a novel food ingredient" by the European Union (EU) permitting the use of the sweetener in a wide range of of products from soft drinks, to candy, to tooth paste. The approval followed approval by South Korea, Australia, New Zealand, Brazil and other countries..
Spherix Incorporated (Nasdaq: SPEX) engages in the provision of information services, as well as in the biotechnological research and development activities in the United States. It operates through two divisions, InfoSpherix and BioSpherix.
InfoSpherix division designs and operates contact centers providing information management and other services for campgrounds, golf courses, and other parks through its ReserveWorld business line.
BioSpherix division engages in the development of proprietary products for commercial applications. It offers tagatose, a sweetener, under the brand name Naturlose. The company has a license agreement with Arla Foods Ingredients to manufacture, market, and distribute tagatose as a food and beverage ingredient.