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Things are starting to look bright for this micro-cap. On 19 January 1999 they reported the first profit ever. Todays news is big, very big. Anyone want to share information?
Biomune Systems, Inc.'s OPTIMUNE Selected by AIDS Clinical TrialGroup for its First Ever Nutritional Study
SALT LAKE CITY, Jan. 27 /PRNewswire/ -- Biomune Systems, Inc. (Nasdaq: BIMCD) today announced its wholly owned subsidiary Optim Nutrition, Inc.'s OPTIMUNE(R), which contains the Company's patented whey protein concentrate ProMune(TM), was selected as a nutritional supplement to be studied by the AIDS Clinical Trial Group (ACTG). The randomized, double blind, ACTG nutritional study will commence at 10 different study sites across the United States within the next few months. The ACTG is supported by the National Institutes of Health (NIH) and the National Institute of Allergy and Infectious Diseases (NIAID).
"This is the first study of a nutritional supplement to be conducted by ACTG," stated Fred Sattler, M.D., University of Southern California Medical Center and Co-Chair of the 12-week ACTG study. "The study is designed to be a comprehensive evaluation of protein metabolism and its effect on body composition. This is an important area of HIV/AIDS research worldwide and we are anxious to start the study."
"We are excited about the opportunity to investigate the possible benefits of the unique amino acid profile and composition of OPTIMUNE in people with AIDS and weight loss. This type of high quality, high biologic value protein could play an important nutritional role in Cachexia (Wasting)," says ACTG Study Protocol Chairman, Bruce Bistrian, M.D., Ph.D., Beth Israel Deaconess Medical Center, Harvard Medical School. According to The World Health Organization, The Centers for Disease Control Surveillance Report 1996, wasting is the second leading HIV/AIDS related cause of death in the U.S., and the third leading cause of HIV/AIDS related death worldwide.
"We are pleased to have OPTIMUNE chosen as the protein supplementation for this nutritional study with the ACTG," stated Biomune System's CEO, Michael G. Acton, "The development of Optim Nutrition's ProMune and OPTIMUNE nutritional supplements is a result of Biomune System's extensive drug and clinical trial research." OPTIMUNE is a high biologic value, high quality patented whey protein with more than 16 years of research and development on its patented whey technology. The exclusive process produces a whey product exceptionally rich in immunoglobulins (natural antibodies) and other immune enhancing components. Optim Nutrition President, Randy Olshen said, "We look forward to participating in a study with such a prestigious group of physicians, researchers and government agencies. We hope its commencement marks the continuance of research involving the role of nutraceuticals, medical foods and functional foods in complementary applications."
Biomune Systems, Inc. is a biopharmaceutical research and development company that is involved in researching the various applications of its patented whey protein ProMune in immune-compromised individuals and cancer research. Biomune Systems, Inc.'s wholly owned subsidiary, Optim Nutrition, Inc. is engaged in manufacturing, new product development and marketing of nutraceuticals, functional foods, medical foods and dietary supplements.
This press release may contain certain forward looking statements about the Company's goals and anticipated future performance. The industry in which the Company proposes to operate is dynamic and intensely competitive and there are many factors that could cause the forward looking statements contained herein not to occur or the timing of their occurrence to be delayed. With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing studies and trials, economic conditions, product and technology development, production efficiencies, product demand, competitive products and competitive environment, availability of raw materials and critical manufacturing equipment and facilities, and other risks identified in filings made with the Securities and Exchange Commission.
SOURCE Biomune Systems, Inc.
CO: Biomune Systems, Inc.; AIDS Clinical Trial Group
Biomune Systems, Inc. Announces First Time Operational Profits
SALT LAKE CITY, Jan. 19 /PRNewswire/ -- Biomune Systems, Inc. (Nasdaq: BIMCD) today announced its earnings for the quarter and fiscal year ended September 30, 1998.
For the first time in its history, the Company generated operational profits (prior to amortization of goodwill and preferred stock dividends) of $356,138 for the fourth quarter of 1998. These earnings are primarily the result of increased revenues generated through Biomune Systems' Rockwood and Optim Nutrition subsidiaries. For the same quarter ended September 30, 1997, the Company experienced an operational loss of $2,770,000.
Fiscal year 1998 net loss was $ 2,968,108 ($4.52 per share) on revenues of $2,806,853 as compared to a net loss of $12,108,450 (or $54.30 per share) on revenues of $199,051 for fiscal 1997. This decrease in net loss applicable to common shares is attributed to the increase in sales as well as a reduction in marketing, selling and general and administrative expenses.
Biomune Systems expects continued increases in sales of its nutrition and functional and medical food products, along with the cost cutting that has been implemented, will result in a net profit for the year ending September 30, 1999.
Biomune Systems, Inc. is a biopharmaceutical research and development company that began researching the various applications of its patented whey protein (Biomune Whey Protein Technology) in immune-compromised individuals and cancer research. Biomune Systems, Inc.'s wholly owned subsidiary, Optim Nutrition, Inc. is engaged in manufacturing, new product development and marketing of nutraceutical, functional foods, medical foods and dietary supplements. Biomune's Rockwood subsidiary sells health and beauty aids.
This press release may contain certain forward-looking statements about the Company's goals and anticipated future performance. The industry in which the Company proposes to operate is dynamic and intensely competitive and there are many factors that could cause the forward-looking statements contained herein not to occur or the timing of their occurrence to be delayed. With the exception of historical information.
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