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PRW - Pro-Pharmaceuticals Inc.

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  1. [verwijderd] 2 november 2007 16:55
    -Nov-2007

    Entry into a Material Definitive Agreement, Unregistered Sale of Equity S

    Item 1.01. Entry into a Material Definitive Agreement.

    On October 26, 2007, in connection with a private placement of our securities, we entered into Securities Purchase Agreements and Registration Rights Agreements with five individual accredited investors as purchasers of the offered securities. The terms of the Securities Purchase Agreements describe the offered securities as units (a "Unit"), priced at $1.00 per Unit, comprised of
    (i) one share of our Series A 12% Convertible Preferred Stock (the "Preferred Stock"); (ii) a Common Stock Purchase Warrant exercisable for $1.50 to purchase one share of our common stock (the "Common Stock"); and (iii) a Common Stock Purchase Warrant exercisable for $2.00 to purchase one share of the Common Stock.

    Each warrant is exercisable solely for cash beginning 181 days after, and terminating on the fourth anniversary of, its issue date. The exercise price of each warrant is adjustable in the event of a stock split or stock combination, capital reorganization or similar event, or a merger, sale of substantially all our stock or assets or other business combination in which our company is not the surviving entity. Under the Registration Rights Agreements, we agreed to file a registration statement with the SEC within 6 months after the closing of the offering in order to register the resale of the shares of Common Stock issuable upon conversion of the Preferred Stock and the exercise of the warrants.

    The Certificate of Designation of Preferences, Rights and Limitations of Series A 12% Convertible Preferred Stock, the filing of which we announced on October 9, 2007, states, among other things, that (i) the Preferred Stock accrues interest at 12% per annum payable at our option in cash or shares of Common Stock valued per share at the higher of $1.00 or 100% of the value weighted average price of our shares of Common Stock for the 20 consecutive trading days prior to the applicable dividend payment date; (ii) each share of Preferred Stock is entitled to one vote on matters presented to stockholders for action; (iii) each share of Preferred Stock is convertible any time at the option of the holder to one share of Common Stock, subject to adjustment in the event of a stock dividend, stock split or combination, reclassification or similar event; and (iv) we have the right to require conversion if the closing price of the Common Stock exceeds $3.00 for 15 consecutive trading days and a registration statement covering the resale of the shares of Common Stock issuable upon such mandatory conversion is then in effect.

    The foregoing summary is qualified in its entirety by reference to, as applicable, the Securities Purchase Agreements, the Registration Rights Agreements and the Common Stock Purchase Warrants, forms of which are attached as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to our report of Form 8-K filed on October 9, 2007 and incorporated herein by reference.

    Item 3.02. Unregistered Sales of Equity Securities.

    The disclosure provided in Item 1.01 of this report is hereby incorporated by reference into this Item 3.02. On October 26, 2007 we issued and sold an aggregate of 150,000 Units for an aggregate of $150,000 in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The exercise rights of the warrants, and the terms of conversion of the Preferred Stock, that comprise the Units are set forth in Item 1.01 of this report and are incorporated into this Item 3.02 by reference. The offer and sale of the securities described in Item 1.01 was made to "accredited investors," as defined in Rule 501 under the Securities Act, in reliance on the exemption from registration provided by Section 4(2) of the Securities Act.

    Laatste koers Verschil
    0.84 USD 0.05 (6.33 %)




  2. [verwijderd] 23 september 2008 12:38
    Press Release Source: Pro-Pharmaceuticals, Inc.

    Pro-Pharmaceuticals' Management Outlines Strategic Initiatives
    Thursday September 18, 7:00 am ET
    Reallocation of Resources Designed to Extend Cash Runway
    Company Anticipates NDA Filing & Revenue in 2009

    NEWTON, Mass.--(BUSINESS WIRE)--The senior management of Pro-Pharmaceuticals, Inc. (AMEX: PRW - News), has outlined strategic initiatives that will reallocate corporate resources in order to extend the Company’s cash runway and fund operations into December. The Company anticipates a 505 (b)(2) New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”) for DAVANAT® with 5-FU to treat advanced colorectal cancer with revenues to follow in 2009.
    ADVERTISEMENT


    As per the initiatives, the Company is focusing its resources on its NDA filing and the commercialization of DAVANAT®. To date, there has been a significant reduction in operating expenses that extend the Company’s cash runway into December. On the short list of cost reductions targets, the Company has eliminated non-core expenses; significantly reduced management compensation; lowered legal and accounting expenses and consulting fees; and reduced research and development and clinical trial expenses in order to focus on the PK study needed to file the NDA and has halted its Phase II, line l, biliary cancer trial.

    “These cost cutting steps will better position the Company to achieve our near-term goal of commercializing DAVANAT® by 2009,” said Pro-Pharmaceuticals CEO David Platt, PhD. “We are absolutely convinced that DAVANAT® is critical to the many patients suffering from advanced colorectal cancer. Regardless of the difficulties that we must overcome, we remain completely focused on achieving our goal.”

    As recently announced, the Company has requested a meeting with the FDA to review the PK study needed to complete the NDA filing. Results of pre-clinical studies show that there is more 5-FU accumulation in the tumor when co-administered with DAVANAT® than when 5-FU is administered alone. These studies coupled with clinical trial data further support that DAVANAT® is safe, non-toxic, and improves the efficiency of 5-FU with no increase in toxicity while significantly reducing associated known side effects.

    “In light of our present cash position and funding requirement, we made a strategic decision to submit DAVANAT® to the FDA under 505 (b)(2); thus, reducing dramatically the time and costs associated to obtain regulatory approval,” Dr. Platt continued.

    “It is paramount we continue our projects without interruption in order to achieve sales of our lead drug candidate DAVANAT® in 2009. Hence, we are actively pursuing financing options and, although there are no assurances, we are confident that we will receive the funds needed to complete the submission for DAVANAT®, further our efforts on our other drug and delivery platforms, and increase shareholder value,” Dr. Platt concluded.

    The Company is using 505 (b)(2) to obtain more timely and efficient marketing approval of new formulations of previously approved chemotherapeutics in combination with the Company’s proprietary drug. The Company is seeking approval for co-administration of DAVANAT®, a new chemical entity, with FDA-approved 5-FU for intravenous injection for the treatment of cancer.

    DAVANAT® is a galactomannan, a class of drugs approved by the FDA for oral and topical use. 5-FU is one of the most widely used chemotherapy drugs in the world and is used to treat various types of cancers, including colorectal, breast, and gastrointestinal. Additional 505(b)(2) filings are planned for DAVANAT® with other chemotherapeutics and biologics.

    About DAVANAT® DAVANAT®, a new chemical entity, is a proprietary carbohydrate compound that is administered with chemotherapies and biologics to treat cancer. DAVANAT®'s mechanism of action is based on binding to lectins. DAVANAT® targets specific lectin receptors (Galectins) on cancer cells. Current research indicates that Galectins affect cell development and play important roles in cancer, including tumor cell survival, angiogenesis and tumor metastasis.

    Pro-Pharmaceuticals, Inc. – Advancing Drugs Through Glycoscience®

    Pro-Pharmaceuticals is engaged in the discovery, development, and commercialization of carbohydrate-based, targeted therapeutics for advanced treatment of cancer, liver, microbial, and inflammatory diseases. Initially, the product pipeline is focused on developing targeted therapeutics to treat cancer. The Company’s technology also is being developed to explore the treatment of liver and kidney fibrosis. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.

    FORWARD LOOKING STATEMENTS

    Any statements in this news release about future expectations, plans and prospects for the Company, including without limitation, statements containing the words believes, anticipates, plans, expects, and similar expressions, constitute forward-looking statements as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those, described in such statements. We caution investors that actual results or business conditions may differ materially from those projected or suggested in forward-looking statements. More information about those risks and uncertainties is contained in the Company’s most recent quarterly or annual report and other reports filed with the Securities and Exchange Commission. While the Company anticipates that subsequent events may cause the Company’s views to change, the Company disclaims any obligation to update such forward-looking statements.

    DAVANAT and Advancing Drugs Through Glycoscience are registered trademarks of Pro-Pharmaceuticals.

    Contact:
    Pro-Pharmaceuticals, Inc.
    Anthony D. Squeglia, CFO, 617-559-0033
    squeglia@pro-pharmaceuticals.com

    --------------------------------------------------------------------------------
    Source: Pro-Pharmaceuticals, Inc.
  3. [verwijderd] 1 december 2008 22:20
    quote:

    crackedtooth schreef:

    low volume pennystock
    Dat wel, Crack, maar ik heb er wel eens meer leuke ritjes meegemaakt, terwijl ik niet wist waarom ze stegen. Trouwens heeft hij nog op $ 0.06 gestaan een paar dagen geleden. Soms stijgen dit soort onvoorspelbare aandelen een heel stuk om vervolgens weer in te zakken. Ik heb er een paar weken 5k gekocht voor $ 0.13. Ik gok erop dat hij naar de $ 0.30 - $ 0.40 gaat. Ik heb het nodig in deze kommervolle tijden voor beleggers. We zullen zien...
  4. [verwijderd] 1 december 2008 23:10
    quote:

    domus muris schreef:

    [quote=crackedtooth]
    low volume pennystock
    [/quote]

    Dat wel, Crack, maar ik heb er wel eens meer leuke ritjes meegemaakt, terwijl ik niet wist waarom ze stegen. Trouwens heeft hij nog op $ 0.06 gestaan een paar dagen geleden. Soms stijgen dit soort onvoorspelbare aandelen een heel stuk om vervolgens weer in te zakken. Ik heb er een paar weken 5k gekocht voor $ 0.13. Ik gok erop dat hij naar de $ 0.30 - $ 0.40 gaat. Ik heb het nodig in deze kommervolle tijden voor beleggers. We zullen zien...
    is nul waarde is, volume laag dus TA niet goed te doen..

    ik zou als je vaker trade eens flink de TA eigen maken en voor jezelf fijne indicatoren zoeken

    laag volume: exit is heel riskant
  5. [verwijderd] 2 december 2008 12:35
    quote:

    crackedtooth schreef:

    [quote=domus muris]
    [quote=crackedtooth]
    low volume pennystock
    [/quote]

    Dat wel, Crack, maar ik heb er wel eens meer leuke ritjes meegemaakt, terwijl ik niet wist waarom ze stegen. Trouwens heeft hij nog op $ 0.06 gestaan een paar dagen geleden. Soms stijgen dit soort onvoorspelbare aandelen een heel stuk om vervolgens weer in te zakken. Ik heb er een paar weken 5k gekocht voor $ 0.13. Ik gok erop dat hij naar de $ 0.30 - $ 0.40 gaat. Ik heb het nodig in deze kommervolle tijden voor beleggers. We zullen zien...
    [/quote]

    is nul waarde is, volume laag dus TA niet goed te doen..

    ik zou als je vaker trade eens flink de TA eigen maken en voor jezelf fijne indicatoren zoeken

    laag volume: exit is heel riskant
    Dank je voor de info.
  6. welshterrier 5 7 december 2008 11:26




    PRW - PRO-PHARMACEUTICALS (AMEX)

    Date Open High Low Last Change Volume % Change
    12/05/08 0.22 0.26 0.22 0.26 +0.02 88700 +8.33%

    Composite Indicator
    Trend Spotter TM Buy

    Short Term Indicators
    7 Day Average Directional Indicator Buy
    10 - 8 Day Moving Average Hilo Channel Buy
    20 Day Moving Average vs Price Buy
    20 - 50 Day MACD Oscillator Sell
    20 Day Bollinger Bands Buy

    Short Term Indicators Average: 60% - Buy
    20-Day Average Volume - 124750

    Medium Term Indicators
    40 Day Commodity Channel Index Buy
    50 Day Moving Average vs Price Buy
    20 - 100 Day MACD Oscillator Sell
    50 Day Parabolic Time/Price Buy

    Medium Term Indicators Average: 50% - Buy
    50-Day Average Volume - 101730

    Long Term Indicators
    60 Day Commodity Channel Index Buy
    100 Day Moving Average vs Price Buy
    50 - 100 Day MACD Oscillator Sell

    Long Term Indicators Average: 33% - Buy
    100-Day Average Volume - 96313

    Overall Average: 56% - Buy

    Price Support Pivot Point Resistance

    0.26 0.21 0.25 0.29





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