Important note: Information in this article was accurate in 1995. The state of the art may have changed since the publication date.
PR Newswire - November 10, 1995
Total assets of the Company, at September 30, 1995, increased by $2.9 million as the result of the successful completion of a private placement in July 1995, which raised gross proceeds of $5.5 million.
"Our projects have made great advances in the last quarter toward commercialization. With a financing completed last quarter, clinical trials well underway for our AIDS therapy and continued advances in all of our other programs, we are extremely pleased with the maturation of Sheffield," commented Douglas R. Eger, chairman of Sheffield Medical Technologies Inc.. "We look forward to additional important milestones being reached in the coming months."
Sheffield Medical Technologies Inc. is a medical technology company providing development funding and management for innovative medical projects to address large or unmet health care needs. Sheffield's strategy focuses on in-licensing technologies in late-stage research from academic and research-oriented institutions, and cost-effectively managing the development of these programs toward commercialization. The Company initially plans to generate revenue by out-licensing its developed technologies to corporate partners with established sales and marketing capabilities.
Sheffield currently has five projects in its technology portfolio: anti-proliferative therapies, a therapeutic for prostate cancer, two HIV/AIDS therapeutics, and an HIV vaccine.
Sheffield Medical Technologies Inc. Consolidated Statements of Operations
For the three and nine months ended September 30, 1995 and 1994 (unaudited)
Three Months Ended Nine Months Ended September 30, September 30, 1995 1994 1995 1994
Interest income $ 39,411 $ 23,403 $ 52,712 $ 65,868 Research and development 1,320,284 1,482,131 3,354,716 2,138,282 General and administrative 846,122 608,651 2,074,150 1,725,730 Interest expense 974 -- 64,736 -- Net loss $2,127,969 $2,067,379 $5,440,890 $3,798,144 Net loss per share of common stock $0.24 $0.30 $0.70 $0.58 Weighted average common shares outstanding 8,842,721 6,795,995 7,769,317 6,532,241
CONTACT: Douglas R. Eger, Chairman and CEO of Sheffield Medical Technologies, Inc., 212-957-6600; or Karen Bergman, media, or Lilian S. Stern, investors, of Burns McClellan, Inc., 212-505-1919/ 15:00 EST
Copyright (c) 1995/PR NewsWire. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Permissions Desk, PR Newswire, 810 Seventh Avenue, New York, NY 10019.
951110
PR951122
Copyright © 1995 - PRNewswire. All rights reserved. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through PRNewswire, Permissions, 810 Seventh Ave., 32nd Floor, New York, NY 10019 http://www.prnewswire.com.
AEGiS is a 501(c)3, not-for-profit, tax-exempt, educational corporation. AEGiS is made possible through unrestricted funding from Broadway Cares/Equity Fights AIDS, Elton John AIDS Foundation, National Library of Medicine, and donations from users like you.
Always watch for outdated information. This article first appeared in 1995. This material is designed to support, not replace, the relationship that exists between you and your doctor.
AEGiS presents published material, reprinted with permission and neither endorses nor opposes any material. All information contained on this website, including information relating to health conditions, products, and treatments, is for informational purposes only. It is often presented in summary or aggregate form. It is not meant to be a substitute for the advice provided by your own physician or other medical professionals. Always discuss treatment options with a doctor who specializes in treating HIV.
Copyright ©1980, 1995. AEGiS. All materials appearing on AEGiS are protected by copyright as a collective work or compilation under U.S. copyright and other laws and are the property of AEGiS, or the party credited as the provider of the content. .