BPUR UPDATE

UPDATE 3: After reviewing the ‘fine print’ in thus ruling…I am buying back in today. Wish I had not sold as I am paying unnecessary brokerage fees. Lucky I use Questrade and don’t have to pay more than $9.95 CDN Funds for my trade.

Anyway, this trial is going ahead because the Navy and FDA are in talks to make it happen. The Navy and Biopoure are addressing a concern of the FDA by using a preventative drug in conjunction with Hemopure.

Ridgeland, MS, MAY 18, 2009 (EventX/Knobias.com via COMTEX) — By Fain Hughes, fhughes@knobias.com

Biopure Corporation (BPUR) announced that the FDA has advised the U.S. Naval Medical Research Center (NMRC) by letter that it may not initiate a clinical trial of Biopure’s oxygen therapeutic Hemopure(R) under a proposed protocol submitted to the FDA in March 2009. The study, “Restore Effective Survival in Shock” (RESUS) was first proposed and submitted to the FDA in 2005. The proposed trial was placed on clinical hold at that time. It has been resubmitted repeatedly in response to FDA comments and to address comments made by the FDA Blood Products Advisory Committee at an open meeting held in December 2006. Each subsequent submission, including the most recent, was placed on clinical hold.

The company expects the NMRC to seek FDA approval for a clinical trial of Hemopure with a concomitant drug to address vasoactivity, which occurs with the use of Hemopure alone. The NMRC and the FDA are in discussions concerning such a trial, and the NMRC is conducting preclinical studies recommended by the FDA to prepare for such a trial. The NMRC continues to buy Hemopure for this testing.

KNOBIAS DISCLAIMER: All statements made in this article were made by the Company and do not in any way reflect the opinions of Knobias. Knobias is not a registered broker-dealer, nor investment advisor, and does not endorse or recommend any securities mentioned. This story is provided for informational purposes only and is not intended for trading purposes. Knobias shall not be liable for any actions taken in reliance of any information provided herein. Republication or redistribution of Knobias content is expressly prohibited without prior written consent of Knobias.com, LLC.

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FROM YESTERDAY

I will explain more later but right now dump it big time.

UPDATE 1: It has settled down. If you have not sold then hold. This will work itself out. I am preparing an article on what is going on for publication later today. This stock is still going to be a winner. It is just a matter of time.

UPDATE 2: I recommended selling this stock because it was in a free fall after the FDA again rejected the RESUS Clinical Trial that the US Navy wanted to conduct. I took about a $160.00 loss on my sale and the current price is just below where I sold after reaching a low of $0.165 / share.

It did not completely tank, in fact I am a bit surprised by BPUR’s ability to rebound to and maintain its > $0.20/share price.

Technorati Tags: Biopure, BPUR, Hemopure, US Navy, RESUS, RESUS Clinical Trial