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Stock soars after Cold-fX wins crucial approval
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EDMONTON - CV Technologies Inc. shares rose nearly 60 per cent Thursday after Health Canada approved the claims at the core of the company's marketing of its cold and flu drug Cold-fX.
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; b6 P/ ]4 T ~BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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EDMONTON - CV Technologies Inc. SHARES rose nearly 60 per cent Thursday after Health Canada approved the claims at the core of the company's marketing of its cold and flu drug Cold-fX.
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The agency said CV Technologies can continue to market Cold-fX as helping "to reduce the frequency, severity and duration of cold and flu symptoms by boosting the IMMUNE SYSTEM."
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9 [! h8 t( x" @. p+ o( ^) V# K9 xThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.
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It should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.# G4 o9 x. o. X3 \" z B) ?
: a3 W8 k9 F4 {" oIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said.: [# ?! g1 t: V; S* k- o
- U0 F) s, z" F3 ~"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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- h5 C. `' H* q& NIt's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.5 R2 k. y$ f- R: }/ T5 c
' }4 ?% N7 o' `3 D6 s+ VGinseng-based Cold-fX is already the top-selling cold and flu treatment in Canada, but Shan said there is plenty of room for more growth.
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The approval will also help raise the product's PROFILE in the lucrative U.S. market, which Cold-fX entered in October. The move came with a new marketing push, using former Oilers superstar Mark Messier as its spokesman.* ^4 O1 L' b7 ~# C( z
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http://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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