April 15. Tax day. One of the most dreaded days in America.
If you haven’t finished your taxes yet, run. They’re due today.
For those who have, here are four wild facts about taxes in America.
1. Tax cheats have cost trillions of dollars over the last decade.
Every few years, the IRS provides an estimate of the “tax gap,” or the difference between how much revenue it should have collected based on known business activity, and how much it actually collected. It’s a rough measure of tax cheats.
In 2006, the most recent year it has data on, IRS estimates the tax gap at $385 billion, or an 85.5% compliance rate. And that’s after subsequent audits brought in late payments and penalties. 2001’s tax gap totaled $290 billion.
The IRS only issues these reports every five years, and each report covers just one year. But let’s assume 2001’s tax gap of $290 billion was reflective of the 2001-2005 period, and 2006’s $385 billion gap was reflective of the 2006-2010 period. In total, that’s $3.3 trillion in lost tax revenue over the last decade.
Top Medical Companies To Own In Right Now: Navidea Biopharmaceuticals Inc (NAVB)
Navidea Biopharmaceuticals, Inc. (Navidea), formerly Neoprobe Corporation, incorporated in 1983, is a biopharmaceutical company focused on the development and commercialization of precision diagnostic agents. As of December 31, 2011, the Company’s radiopharmaceutical development programs included Lymphoseek (Lymphoseek, Kit for the Preparation of Technetium Tc99m for Injection), a radiopharmaceutical agent for lymph node mapping; AZD4694, an imaging agent, and RIGScan, a tumor antigen-specific targeting agent. In January 2012, the Company executed an option agreement with Alseres Pharmaceuticals, Inc. (Alseres) to license [123I]-E-IACFT Injection, also called Altropane, an Iodine-123 radiolabeled imaging agent, being developed as an aid in the diagnosis of Parkinson’s disease, movement disorders and dementia. In August 2011, the Company sold its gamma detection device line of business (the GDS Business) to Devicor Medical Products, Inc.
Navidea’s pipeline includes clinical-stage radiopharmaceutical agents used to identify the presence and status of disease. Lymphoseek (Kit for the Preparation of Technetium Tc99m for Injection) is a lymph node targeting agent intended for use in intraoperative lymphatic mapping (ILM) procedures and lymphoscintigraphy employed in the overall diagnostic assessment of certain solid tumor cancers. The lymph system is a component of the body’s immune system. The key components of the lymph system are lymph nodes-small anatomic structures that contain disease-fighting lymphocytes, filter lymph of bacteria and cancer cells, and signal infection in response to heightened levels of pathogens. In Navidea’s Phase III clinical studies of Lymphoseek, it detected over 99% of positive nodes identified by vital blue dye (VBD). As of December 31, 2011, Navidea, in co-operation with UC, San Diego affiliate (UCSD), completed or initiated five Phase I clinical trials, one multi-cent er Phase II trial and three multi-center Phase II trials inv! olving Lymphoseek. Two Phase III studies were completed in subjects with breast cancer and melanoma. During the year ended December 31, 2011, data from NEO3-09 were released, which indicated that all primary and secondary endpoints for the study were met. As of December 31, 2011, third Phase III clinical trial for Lymphoseek in subjects with head and neck squamous cell carcinoma (NEO3-06) was in progress.
AZD4694 is a Fluorine-18 labeled precision radiopharmaceutical candidate for use in the imaging and evaluation of patients with signs or symptoms of cognitive impairment such as Alzheimer’s disease (AD). It binds to beta-amyloid deposits in the brain that can then be imaged in positron emission tomography (PET) scans. Amyloid plaque pathology is a required feature of AD and the presence of amyloid pathology is a supportive feature for diagnosis of probable AD. Patients who are negative for amyloid pathology do not have AD. AZD4694 has been studied in several clinical trials. Clinical studies through Phase IIa have included more than 80 patients to date, both suspected AD patients and healthy volunteers. No significant adverse events have been observed. Results suggest that AZD4694 has the ability to image patients quickly and safely with high sensitivity.
As of December 31, 2011, RIGScan had been studied in a number of clinical trials, including Phase III studies. Navidea has conducted two Phase III studies, NEO2-13 and NEO2-14, of RIGScan in patients with primary and metastatic colorectal cancer, respectively. Both studies were multi-institutional involving cancer treatment institutions in the United States, Israel, and the European Union.
The Company competes with Pharmalucence, Eli Lilly, Bayer Schering, General Electric and GE Healthcare.
- [By Erin McCarthy]
Navidea Biopharmaceuticals Inc.(NAVB) said Chief Executive Mark Pykett would leave that post around the end of this month as the company restructures its biopharmaceutical product pipeline.
- [By Lauren Pollock]
Navidea Biopharmaceuticals Inc.(NAVB) said the U.S. Food and Drug Administration has granted a priority review for an expanded use of its Lymphoseek drug for some patients with head and neck cancer. Shares dropped 5.4% to $1.97 premarket.
- [By Lauren Pollock]
Among the companies with shares expected to actively trade in Tuesday’s session are Toll Brothers Inc.(TOL) and Navidea Biopharmaceuticals Inc.(NAVB)
- [By Sean Williams]
Diagnostics can also play an important role in early and late-stage breast cancer diagnoses. Navidea Biopharmaceuticals (NYSEMKT: NAVB ) had Lymphoseek, its external lymph-node imaging and intra-operative lymphatic mapping diagnostic device, approved by the Food and Drug Administration earlier this year to help doctors stage cancer. Discovering whether breast cancer has invaded adjacent lymph nodes has never been easier or safer thanks to Lymphoseek, and it can dramatically aid physicians in determining the best course of action for breast cancer patients.
Top Medical Companies To Own In Right Now: ImmunoCellular Therapeutics Ltd (IMUC)
ImmunoCellular Therapeutics, Ltd., incorporated on March 20, 1987, is a clinical-stage biotechnology company. The Company is engaged in developing immune-based therapies for the treatment of cancers, such as brain, ovarian and other solid tumors. Immunotherapy is an approach to treat cancer in which a patient’s own immune system is stimulated to target tumor antigens, which are molecular signals that the immune system uses to identify foreign bodies. The Company’s products include ICT-107, ICT-140, ICT-120, ICT-109 and DIAAD. ICT-107, the pipeline product, is a Phase II therapeutic dendritic cell (DC) vaccine for the treatment of glioblastoma multiforme (GBM), the common and lethal type of brain cancer. ICT-107 is designed to activate a patient’s immune system to target six different tumor-associated antigens. In February 2012, it acquired a world-wide license from the University of Pennsylvania and The John Hopkins University (JHU).
The Company in addit ion to ICT-107, is also developing other therapeutic DC vaccines: ICT-140 for ovarian cancer and ICT-121 for recurrent GBM. ICT-140 targets seven tumor-associated antigens expressed on ovarian cancer cells. ICT-107 is a DC vaccine that targets six different tumor-associated antigens that are found on patients’ tumor cells; four of the six antigens are expressed on CSCs. The therapeutic vaccine is used subsequent to conventional therapy or concomitantly with chemotherapy in patients with newly diagnosed GBM. ICT-140 is a DC vaccine that targets seven different ovarian cancer antigens. ICT-121 is a DC vaccine that targets CD133 antigens; it has the potential to be a universal cancer vaccine because CD133 is widely expressed on CSCs from a majority of cancers. Data from this small study demonstrated that ICT-109 had a statistically ability to discriminate between cancerous and non-cancerous samples, suggesting the potential to detect pancreatic and lung cancer in plasma and s erum study sets. The DIAAD (differential immunization for an! tigen and antibody discovery) platform it acquired from Molecular Discoveries utilizes immunological tolerization to accelerate the discovery of the molecular differences between diseased cells and their normal counterparts. The monoclonal antibodies produced by DIAAD provide the basis for the discovery and development of its potential diagnostic and therapeutic products.
The Company competes with Dendreon, Oncothyreon, Galena, Bavarian Nordic and Immunovaccine, Northwest Biotherapeutics, Prima Biomed, DCPrime, Roche/Genentech, Seattle Genetics, Bristol-Myers Squibb and Immunogen.
- [By Monica Gerson]
ImmunoCellular Therapeutics (NYSE: IMUC) dropped 11.05% to $1.3699. ImmunoCellular’s trailing-twelve-month ROE is -59.80%.
Posted-In: market losersNews Movers & Shakers Intraday Update Markets
- [By Wallace Witkowski]
Shares of ImmunoCellular (IMUC) jumped after the drug developer said data on a mid-stage brain cancer drug study were looking encouraging.
- [By Lauren Pollock]
ImmunoCellular Therapeutics Ltd.(IMUC) said its leading product candidate, a dendritic cell-based vaccine for brain cancer, didn’t show a statistically significant advantage in overall survival in a Phase II study. In a research note, Maxim Group said it is pushing its EU approval date target to 2019 and lowered its estimate on the stock to $12 a share from $18 a share. The stock plunged 62% to $1.04 premarket.
- [By Smith On Stocks]
Using my assumptions, the common of Agenus might be worth about $7.00 per share in early 2014 based on the royalties from the Glaxo vaccines and the net operating loss carry forward even if every other asset in the company were valued at zero. However, there may be substantial value in Agenus’ internal vaccine programs in recurrent and newly diagnosed glioblastoma and the genital herpes vaccine. Based on a comparison to peer companies like Northwest Biotherapeutics (NWBO) and ImmunoCellular Therapeutics (IMUC), I believe that the internal programs at Agenus currently may be worth $150 million or $4.45 per share. Adding this to the value of the MAGE A-3 vaccine could produce a stock price of $11.00 in early 2014.
Top Medical Companies To Own In Right Now: Boston Therapeutics Inc (BTHE)
Boston Therapeutics, Inc. is a development-stage company. The Company’s business is the development, manufacture and commercialization of therapeutic drugs and dietary supplements with a focus on glyco-pathology, a specialized field involving understanding the importance of carbohydrates in biochemistry and progression of diseases. The Company is focusing on three products: IPOXYN, an injectable anti-hypoxia drug, which it is developing; PAZ320, which is a non-systemic, chewable drug candidate for reduction of blood glucose in diabetics in development and SUGARDOWN, a complex carbohydrate-based chewable dietary supplement, which it is marketing. The Company’s non-systemic compounds for prediabetes and diabetes, SUGARDOWN and PAZ320, belong to the class of carbohydrate-hydrolyzing enzyme inhibitors.
The Company has developed SUGARDOWN, a non-systemic complex carbohydrate-based dietary supplement to moderate post-meal blood glucose us ing processes and technology. It has unrestricted access to both sufficient raw materials at commodity pricing and processing facilities to produce sufficient supply of SUGARDOWN to support product distribution across multiple sales channels as a dietary supplement. Its SUGARDOWN dietary supplement consists of a stabilized complex carbohydrate composition. The Company has completed development of SUGARDOWN as a dietary supplement. On January 24, 2012 the Company announced the clinical trial results in healthy volunteers performed at the University of Sydney on SUGARDOWN.
PAZ320 is a non-systemic, non-toxic, chewable drug candidate for prevention of diabetes and its complications. PAZ320 inhibits the enzymes, which release glucose from complex carbohydrate in foods during digestion, reducing the amount of available glucose absorbed through the intestine. PAZ320 is in development as a drug candidate. The Company’s non-systemic compounds for p rediabetes and diabetes, SUGARDOWN and PAZ320, belong to the! class of carbohydrate-hydrolyzing enzyme inhibitors.
The Company has developed a drug candidate product IPOXYN, a glyco-protein based therapeutic agent. Its IPOXYN anti-hypoxia drug consists of a stabilized glycoprotein composition containing oxygen-rechargeable iron, targeting both human and animal tissues and organ systems deprived of oxygen and in need of metabolic support. In addition to potential uses for human patients, it also focuses to file a registration for IPOXYN for veterinary applications under the name OXYFEX. The Company’s pharmaceutical agents are intended for intravenous administration into the circulatory system to target acute and late stage diseases.
- [By CRWE]
Today, BTHE remains (0.00%) +0.000 at $1.10 thus far (ref. google finance Delayed: 12:25PM EDT October 10, 2013).
Boston Therapeutics has previously closed the final tranche of approximately $1.8 million to bring total gross proceeds of approximately $5.3 million from the private placement of Common Stock and warrants to existing and new accredited investors (the “Offering”).
Proceeds of the offering will be used to fund additional clinical trials for PAZ320, a non-systemic chewable drug designed to reduce the elevation of postprandial glucose or post-meal blood sugar for treatment of patients with Type 2 diabetes, and for general corporate purposes. PAZ320 is the first compound in a new class of therapies for this disease.
Top Medical Companies To Own In Right Now: Taro Pharmaceutical Industries Ltd (TARO)
Taro Pharmaceutical Industries Ltd., incorporated in 1959, is a science-based pharmaceutical company. The Company develops manufactures, and markets prescription and over-the-counter (OTC) pharmaceutical products, primarily in the United States, Canada and Israel. The Company also develops and manufactures active pharmaceutical ingredients (APIs), primarily for use in its finished dosage form products. The Company’s primary areas of focus include pediatric creams and ointments, liquids, capsules and tablets, mainly in the dermatological and topical, cardiovascular, neuropsychiatric and anti-inflammatory therapeutic categories. The Company operates through three companies: Taro Pharmaceutical Industries Ltd. (Taro Israel), and two of its subsidiaries (including indirect), Taro Pharmaceuticals Inc. (Taro Canada) and Taro U.S.A. The Company markets more than 180 pharmaceutical products in over 25 countries.
Taro Israel manufactures more than 160 finished dosage form pharmaceutical products for sale in Israel and for export. It produces APIs used in the manufacture of finished dosage form pharmaceutical products. It markets and distributes generic products in the local Israeli market. Taro Israel’s primary product lines include dermatology, prescription and OTC semi-solid products (creams, ointments and gels) and liquids; cardiology and neurology, prescription oral dosage products; oral analgesics, both prescription and OTC, and OTC oral and nasal sprays and ophthalmic products.
Taro Canada manufactures more than 70 finished dosage form pharmaceutical products for sale in Canada and for export. It markets and distributes generic products in the local Canadian market. Its product line includes dermatology: prescription and OTC semi-solid products (creams, ointments and gels) and liquids, cardiology, oncology, gastrointestinal and neurology: prescription oral and injects able dosage products, and allergy (antihistamine ): OTC oral dosage products.
Taro U.S.A markets! and distributes generic products in the United States market. Its primary product lines include dermatology: prescription and OTC semi-solid products (creams, ointments and gels) and liquids, cardiology and neurology: prescription oral dosage products, and other prescription and OTC products.
The Company competes with Bristol-Myers Squibb, GlaxoSmithKline, Merck, Novartis, Pfizer/Wyeth, Valeant, Galderma, Merck/Schering-Plough, Teva Pharmaceuticals U.S.A., Mylan Laboratories, Perrigo Company, Ranbaxy Pharmaceuticals Inc., Sandoz Pharmaceuticals, Merck Canada Inc., Pfizer Canada Inc., Janssen Inc., Schering-Plough Canada, Novartis Pharmaceuticals Canada Inc., GlaxoSmithKline Inc., Bayer Inc., Bristol-Myers Squibb Canada, Apotex Inc., Teva Canada Limited, Mylan Pharmaceuticals ULC, Sandoz Canada Incorporated, Pharmascience Inc., Teva Pharmaceutical Industries Ltd., Perrigo Israel Pharmaceuticals Ltd., Dexxon Ltd., Rafa Laboratories Ltd., Bayer AG, Eli Lilly and C ompany, Merck & Co., Inc. and Pfizer Inc.
- [By Ben Levisohn]
Teva has dropped 7.7% to $37.85 today at 3:23 p.m. but doesn’t seem to be spreading though the generic drug space. Taro Pharmaceuticals (TARO) ha gained 1.1% to $79, while Actavis (ACT) has gained 1.2% to $156.25 and Dr. Reddy’s Laboratories (RDY) has advanced 1% to $40.24. Mylan (MYL) has dropped 0.7% to $38.40.
- [By Rich Smith]
Israeli drugmaker Taro Pharmaceutical Industries (NYSE: TARO ) has a new CEO — and a new Chairman of the Board, as well.
On Thursday, Taro announced the imminent retirement of Interim Chief Executive Officer Mr. James Kedrowsk, who will be replaced August 1 by new permanent CEO Mr. Kalyanasundaram Subramanian (“Kal Sundaram”). Additionally, the company said that Dilip Shanghvi has been appointed Chairman of its Board of Directors.
Top Medical Companies To Own In Right Now: Intrexon Corp (XON)
Intrexon Corporation, incorporated on April 19, 2004, is engaged in the business of synthetic biology. Using the Company’s suite of complementary technologies, it design, build and regulate gene programs, or sequences of deoxyribonucleic acid (DNA) that control cellular function, and cellular systems, or activities that take place within a cell and the interaction of those systems in the greater cellular environment, to enable the development of new and improved products and manufacturing processes across a variety of end markets, including healthcare, food, energy and environmental sciences. Its technologies include the UltraVector gene design and fabrication platform; Cell Systems Informatics; LEAP-cell identification and selection, and mAbLogix-antibody discovery.
The Company’s LEAP technology facilitates the automated identification of an individual cell with the highest levels of expression, quality and potency from a population of over 100,000 cells. Its mAbLogix platform complements UltraVector with a library of human antibodies that exceeds 500 million. By immortalizing human tonsils, which consists of lymphatic tissue containing B-cells, its mAbLogix platform creates a B-cell library that can generate antibodies against an almost infinite number of new antigens.
The UltraVector gene design and fabrication platform
The Company’s gene program design platform, which it refer to as UltraVector, is an integrated suite of tools comprising advanced DNA construction technology and components, cellular and protein engineering tools, computational models and statistical methods which facilitate the rapid design, build and testing of complex systems. The UltraVector platform allows the Company to translate gene programs into standard components that can be designed, manufactured and tested in an automated format. This technology enables it to engineer at the cellular level from biological sources.
UltraVector DNA design is computer-automated and ! utilizes a set of defined construction rules to assemble components that are stored in its DNA library. In addition to the number of gene components in its UltraVector library, it is designing and creating enzymatic and regulatory components that provide control over genome integration and gene regulation. Its RheoSwitch Therapeutic System is a three-component transcriptional regulator that provides inducible gene expression. The RheoSwitch Therapeutic System provides the ability to not only express proteins/enzymes of interest, but also the ability to control the level and timing of expression to achieve a biological outcome. Other ongoing programs include its Attsite recombinases, which mediate predictable gene exchange into host cells thereby eliminating many of the difficulties seen with traditional gene insertion.
Cell Systems Informatics
The Company’s Cell systems informatics permits design, as well as testing and learning about new gene tar gets or product pathways. Its bioinformatics software and database systems for mapping cellular pathways when combined with its genome-scale modeling and experimental data, including, gene expression profiling and protein engineering, enable the Company to optimize selection and development of gene programs and cellular systems for its collaborators. Its computational modeling and simulation platform enables the development of predictive computer models of organisms, from microbes to humans. This platform builds virtual cells from their basic molecular components, and can simulate the activity of the cell’s complete reaction network.
The Company is designing proteins with post-translational modifications. It is also working to develop enzyme inhibitors and fusion proteins for a variety of applications in human and animal therapeutics. Its protein engineering may utilize one or more of its technologies to obtain catalysis activitiesits component library, the g eneration of component variants sequence, evolutionary analy! sis and s! tructure-based sequence alignment, computer-aided drug discovery, de novo, or synthesized or generated, and comparative protein modeling, molecular dynamics simulation and free energy analysis, antibody design and humanization, antigenicity prediction, protein pharmacokinetics optimization, and/or in silico support of enzyme engineeringand quantitative structure-function relationships with machine learning algorithms to optimize, facilitate and prioritize protein variant libraries for the advancement of its collaborators.
LEAP-cell identification and selection
The Company’s Laser-Enabled Analysis and Processing technology (LEAP), is an instrument that merges semiconductor manufacturing technologies for cell processing applications to provide high levels of control and scale to cell purification and stem cell culture management. The LEAP platform can identify and purify cells of interest from large libraries of cells created by its UltraVector and bioinformatics technologies using a laser-based purification process, thereby providing a mechanism of testing the degree of protein expression in genetically modified cells, as well as means to learn from the genetic building process.
mAbLogix- antibody discovery
The Company’s mAbLogix antibody discovery platform, or mAbLogix platform, enables production of B-cell libraries for discovery of antibodies. The mAbLogix platform permits antigen targeting using fully human monoclonal and polyclonal antibodies. Its mAbLogix antibody discovery process consists of two major activities: the build of human B-cell libraries expressing a large number of antibodies, and the testing of these libraries based on an analysis of B-cells that express antibodies in response to a chosen antigen.
The Company competes with AbD SeroTec, Alexion Pharmaceuticals, Inc., XOMA Corporation, Genmab US, Inc., MorphoSys AG, NovImmune SA, Societe Des Systemes Biologiq ues, Adimab, LLC, ProMab Biotechnologies, Inc., Abpro, Inc.,! AIIM The! rapeutics and Open Monoclonal Technology, Inc.
- [By John Udovich]
Bubble talk, biotech IPO setbacks plus news about small cap biotechs like Intrexon Corp (NYSE: XON) and TNI BioTech (OTCMKTS: TNIB) have dominated biotech news this week or in recent weeks. Just consider the following news:
- [By Jon C. Ogg]
Intrexon Corp. (NYSE: XON) was started as Buy at Mizuho Securities, started as Equal Weight at Barclays and started as Overweight at J.P. Morgan.
Nokia Corp. (NYSE: NOK) was raised to Hold from Sell at Deutsche Bank, raised to Neutral from Underperform at Credit Suisse and
Canaccord Genuity raised its price target to $5.50 from $3.30.