Hythiam, Inc. (NASDAQ: HYTM), a healthcare services management company
that licenses the PROMETA™ physiological protocols designed to treat
substance dependence, announced that the PROMETA™ protocols have been
licensed for initial use at up to four locations of the largest
outpatient substance dependence provider in Massachusetts, Preventive
Medicine Associates (PMA). PMA operates 17 facilities in Massachusetts
and each year PMA treats 12,000 varying patients for substance
dependencies among its network of addiction medicine providers with
36,000 patient visits per year. The agreement reflects the company’s
ability to attract more active licensees, which is expected to drive
the company’s licensing revenue in the coming quarters. Short interest
in the stock remains stubbornly high, at approximately 28% of the
float. Shares ended the week up 16 cents closing at $7.22.
Earnings
Preview: Hythiam, Inc. (NASDAQ: HYTM), a healthcare services management
company that provides behavioral health management services to health
plans, employers, criminal justice, and government agencies, is
scheduled to report results for its third quarter ended September 30,
2008 on Thursday after the market closes. For the 2008 second quarter,
the company reported consolidated revenue of $11.6 million, which
includes $2.0 million in revenue from Hythiam's healthcare services
business and $9.6 million in revenue from CompCare's operations,
compared to consolidated revenue of $11.3 million in the second quarter
of 2007. Investors will likely focus on the company's cash burn rate
during Q3 and any indication as to when results of Dr. Walter Ling's
randomized, double-blind, placebo-controlled study at UCLA of PROMETA's
effectiveness in treating methamphetamine addiction will be released.
Additional studies on PROMTETA's efficacy in treating alcohol addiction
could also be released. Investors will also awaiat any news on
potential licensing deals with managed care providers. As of the end of
Q2, the company had a consolidated cash position of approximately $26.6
million. The stock fell by 16 cents last week to finish at $0.64.
CEOCAST: Avicena Group, Inc. (OTCBB: AVGO), a biotechnology
company focused on diseases of the central nervous system as well as
dermaceutical products, last week announced that the United States
Patent and Trademark Office has granted the company U.S. Patent
#7,285,573 for the use of the company's proprietary drug candidates for
the treatment of amyotrophic lateral sclerosis (ALS or "Lou Gehrig's
Disease"). Avecina's present ALS drug candidates, AL-02 and AL-08, have
been the subjects of an extensive body of clinical research including
Phase II/III trials, and the company is preparing to initiate a
confirmatory Phase III ALS trial in early 2008. This patent provides
further protection for the Avecina's growing portfolio of drug
candidates for the treatment of ALS, and expands the company's existing
U.S. and international IP portfolio to 22 issued patents and 30 pending
patents. The company is also currently in a Phase III trial for the
treatment of Parkinson's disease. Shares ended the week at $0.80, down
5 cents.
CEOCAST AND MICHAEL WACHS BUSINESS
MICHAEL WACHS CEOCAST DIRECTORY
CEOCAST AND MICHAEL WACHS INTERVIEW
The Election came and went, and did little to disturb the bullish
bias in the market. The Dow ended the week up 122 points increasing its
year to date gain to 13%. The Nasdaq was up 58 points at the end of the
week and increased its year to date gain to 8.4%. The S&P 500
picked up after last week’s loss and ended the week up 16 points,
increasing its year to date gain to 10.6%, while the Russell 2000
finished the week up 16 points and increased its year to date gain to
14.2%.
CEOCAST
MICHAEL WACHS: Circle K Southeast Division, a division of
Couche-Tard, the second largest independent convenience store operator
in North America, and Boo Koo Holdings, Inc. (OTCBB: BOKO), a company
that develops, produces, markets and distributes alternative beverage
category energy drinks, said last week that they have jointly created
an extension to the Circle K proprietary energy drink brand, GazZu -
the GazZu Shooter. A concentrated version of original GazZu, the
two-ounce GazZu Shooter is available in cherry, orange-mango and grape
flavors. The company designed the GazZu Shooter for customers whose
lives are hectic and need a quick boost. The line extension comes
following the successful launch of GazZu last September. GazZu was the
company's first wholly-owned, proprietary energy beverage, created in
conjunction with Boo Koo Beverages. BOKO also announced that it has
appointed Gil Cassagne, formerly Chief Executive Officer of Cadbury
Schweppes Americas Beverages, to the position of Chairman. Casagne, who
recently joined the company's Board, has an impressive record of
building highly successful brands at Cadbury Schweppes. Shares rose by
$0.04, to finish the week at $0.64.
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