ohmygod schreef:
Dec 11, 2007 (M2 PRESSWIRE via COMTEX) -- The Street advanced in early trading as expectations for an interest rate cut from the Feds and uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses. Although economists are split over whether there will be a quarter-point cut or half-point cut, investors remained positive ahead of the Fed's rate-setting meeting on Tuesday. Looking into the GTC Biotherapeutics. (GTCB) performance for yesterday, December 10, 2007, we noticed that the US investors were generous with spending. At close on Monday (yesterday) the stock was trading down 1 percent on a volume of double the average.
Our research resources have been aimed towards the US large caps and the various prospective companies therein GTC Therapeutics was among those that we have been closely examining due to their recent news and trading patterns.
GTC Biotherapeutics, Inc. announced yesterday December 10, 2007, that the US Food and Drug Administration, or FDA, has designated ATryn an orphan drug for the treatment of patients with hereditary antithrombin deficiency, or HD. ATryn is the only recombinant human antithrombin product being developed to address the needs of this rare patient population who are at risk of developing serious and potentially life-threatening venous thromboses," stated Geoffrey F. Cox, PhD, GTC's Chairman and CEO. "The orphan drug designation is recognition of the importance of our developing a unique therapeutic for this rare patient population. We are close to completion of the Phase III comparative study to treat HD patients at risk for developing deep vein thrombosis or thromboembolism while undergoing surgery or childbirth. We plan to have top line results of the comparative study available in late December to early January, depending on final patient scheduling. The FDA recently granted fast track designation for ATryn and provided permission for a rolling Biologics License Application, or BLA, submission. We will complete the submission after all clinical data is gathered, analyzed, and available for the BLA, which is planned to be in the first half of 2008."
GTC Biotherapeutics develops, produces, and commercializes therapeutic proteins through transgenic animal technology. In addition to ATryn, GTC is working with LFB Biotechnologies to develop recombinant forms of human coagulation factor VIIa and a CD20 monoclonal antibody. Additional programs in the development pipeline include recombinant forms of human alpha-1 antitrypsin, human coagulation factors VIII and IX, and a monoclonal antibody to CD137. GTC's intellectual property includes a patent in the United States through 2021 for the production of any therapeutic protein in the milk of any transgenic mammal. GTC's transgenic production platform is particularly well suited to enabling cost effective development of proteins that are difficult to express in traditional recombinant production systems as well as those that are required in large volumes.
With the recent climax remodeling the market temporarily and taking investors on a roller-coaster ride, Streetinvesting.com will keep track of the performance and future news release of this company. Our research team will bring you any news or updates about GTC Therapeutics as they come into the public realm in the coming weeks and months.