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Winston-Salem, NC, United States, 2013/01/24 - Stocks in the news for Thursday include TRTC (OTCBB: TRTC), CRIS (Nasdaq: CRIS) and SPNC (Nasdaq: SPNC) - SmallCapReview.com.
Terra Tech Corp. (OTCBB: TRTC) $0.45. Announced Wednesday after market close the launch of its plug and play mobile hydroponic chamber, The Bloom Room. This 34’ unit is built inside a discreet 3-axle mobile car trailer, however inside is everything the discerning cultivator needs to produce high-grade medical cannabis. Their first production is being shipped to customers in Colorado, who recently passed amendment 64 for full recreational legalization. According to a survey by the National Cannabis Industry Association, the Colorado medical marijuana industry generated more than $181 million in sales since 2010. The base units start at $42,000.
“As legalization takes hold and the production and distribution of regulated medical cannabis are replacing the back alley deals, quality and cultivation standards are increasing,” claims Peterson, CEO of Terra Tech. “Units like our Bloom Room are replacing cultivation in garages and basements bringing a higher level of safety and quality to patients in medically legal states.”
The Bloom Room is configured with 16 High Pressure Sodium, HPS, lights, digital ballasts, carbon filtration for odor, fire suppression systems and a fully automated control system to monitor your facility from your smart phone. Portability is important aspect of Terra Tech’s design; construction is done at Terra Tech’s factory allowing the grower to maintain privacy from contractors. In addition the cultivator can easily move his facility from one location to the next, avoiding the expense of relocation.
What They Do: Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners.
Curis (Nasdaq: CRIS) $3.12. Announced today that the first patient has been treated in a Phase I clinical study of CUDC-907 in patients with relapsed or refractory lymphoma or multiple myeloma. CUDC-907 is an orally-administered first-in-class small molecule drug candidate that has been designed as a dual inhibitor of phosphatidylinositol-3-kinase (PI3K) and histone deacetylase (HDAC). As a result of this clinical advance, Curis is entitled to receive an additional $350,000 in milestone payments under the terms of its agreement with The Leukemia and Lymphoma Society (LLS).
"We're very pleased to announce the initiation of the CUDC-907 Phase I clinical study in patients with advanced hematological cancers," said Dan Passeri, Curis' President and Chief Executive Officer. "The synergistic effects of targeting PI3K and HDAC with CUDC-907 have shown very potent antitumor activity in preclinical models of lymphoma and multiple myeloma. We are hopeful that CUDC-907 will demonstrate an adequate safety profile and also provide clinical activity in this study population. We look forward to seeking to advance this important molecule through this Phase I dose escalation study and further clinical trials."
What They Do: Curis is a drug development company seeking to develop and commercialize next generation targeted small molecule drug candidates for cancer treatment.
Spectranetics Corporation (Nasdaq: SPNC) $16.46. Today announced final results from the PATENT (Photo-Ablation using the TURBO-Booster® and Excimer Laser for In-Stent Restenosis Treatment) study evaluating the safety and efficacy of the Spectranetics peripheral laser atherectomy catheters for the treatment of in-stent restenosis (ISR) in the femoropopliteal artery in the leg. ISR occurs as a result of narrowing of the artery in patients who have undergone stenting for the treatment of peripheral arterial disease (PAD). There is currently no FDA-cleared or approved device to treat peripheral in-stent restenosis, which remains a major unsolved medical problem.
Ninety patients participated in this prospective, multi-center registry, which completed enrollment in December 2011 at five centers in Germany. The study evaluated extremely complex patients who had a previously failed stent procedure to address peripheral arterial disease.
Final results presented today by Professor Thomas Zeller (Herz-Zentrum Bad Krozingen, Germany) at the Leipzig Interventional Course (LINC) 2013 in Leipzig, Germany, indicate 82% and 52% freedom from target lesion revascularization (TLR) at six and 12 months, respectively. Laser atherectomy demonstrated excellent midterm primary patency of 64% as compared to 37% with balloon angioplasty primary patency as published in previous clinical registries. This is a significant improvement considering the challenging nature of these patients.
What They Do: Spectranetics develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system.
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