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Prospector
Profile
07.1518
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| Protalex, Inc. |
NAICS |
541710 |
| 145 Union Square Drive
New Hope, PA 18938 |
Description |
Biotechnology |
| (215) 862-9720 |
Employees |
8 |
| http://www.protalex.net/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-8.4510 |
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Assets |
(mil) |
18.2090 |
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Liability |
(mil) |
0.9710 |
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(for the year ended 2007-05-31) |
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Category:
Loss/Deficit
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Event:
Protalex, Inc. reported a net loss of $2,371,680 for the three months ended August 31, 2007, much higher than the $1,504,529 net loss incurred during the second quarter ended August 31, 2006. It also used cash for operating activities of $1,628,042 for the second quarter ended August 31, 2007, higher than the $1,297,444 cash used for operating activities during the same quarter last year. The Company's balance sheet showed an accumulated deficit of $29,235,227 as of August 31, 2007.
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Intellectual Property:
The Company's success will depend on its ability to maintain trade secrets and proprietary technology in the United States and in other countries, and to obtain and maintain patents for bioregulatory technology. The Company filed an initial usage patent application with the U.S. Patent and Trademark Office, in April 2002. In May 2007, the U.S. PTO issued to the Company Patent #7,211,258. It has also filed for foreign protection relating to this patent in Canada, Japan and the European Union. Additional patent applications relating to the manufacturing process of PRTX-100 are being pursued. [SEC Filing 10-KSB 07-31-07]
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Description:
The Company develops drugs for the treatment of autoimmune and inflammatory diseases.
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Officers:
G. Kirk Raab (Chair); Steven H. Kane (Pres., CEO & Dir.); Marc L. Rose (VP, CFO, Treas. & Sec.); Carleton A. Holstrom (Dir.); Eugene A. Bauer, M.D. (Dir.); Thomas P. Stagnaro (Dir.); Dinesh Patel, Ph.D. (Dir.); Frank M. Dougherty (Dir.); Peter G. Tombros (Dir.)
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Auditor:
Grant Thornton LLP
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Securities:
Common Stock-Symbol PRTX.OB; OTC BB;
28,600,464 common shares outstanding as of October 10, 2007.
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