Intercytex - No Money

[Blondilocks]

I have no idea what this means for ICX-TRC Hair Generation?

but today the company lauched the following statement to the press :

http://www.intercytex.com/icx/news/rele ... 09-01-26a/

 

[Night]

It says they let go of their work force so they wouldn't 'burn their cash' by paying more people that they 'didn't need'.

Completion of the Phase II trial of ICX-TRC for hair regeneration continues to be expected at the end of this quarter and good progress has been made on developing ICX-SKN for the treatment of burns helped with funding from the US Armed Forces Institute of Regenerative Medicine.

:dunno: Why not show it already?

 

[Blondilocks]

After reading round the various investing sites i found that they are letting go of the staff because they were unable to raise another £9 million in funding. It is certainly a baffling statement, because surely such an effective product such as a hairloss treatment could earn them a small fortune. Well they are releasing the results in March, and on Tressless.com theres a post claiming that phase II is well an truely over and that negotiations are currently underway for the finacial dealings with the final product. The 'Good progress' relates to the other product not TRC

Any thought anyone?

 

[dimitar_berbagod]

Perhaps they, like thousands of other companies, are being affected by the recession...

 

[follicle84]

I agree, the cost of everything has gone up so its no wonder they may have misscalculated their budget.

 

[elguapo]

Just a nitpick: I believe the trailing part of the quote which was bolded - "and good progress" - was meant for ICX-SKN, not ICX-TRC. But I am still looking forward to hearing the results, which are expected THIS quarter? Man, time flies!

 

[Flavio]

I have no idea what this means for ICX-TRC Hair Generation?

but today the company lauched the following statement to the press :

http://www.intercytex.com/icx/news/rele ... 09-01-26a/

This is so weird. They have money to buy this company called Axordia, but apparently they don't have money to pay their employees and fund their research. I don't get it.

Anyway, I still have great faith in this new treatment, I'm sure it will be available soon.

 

[BALDIE42]

Global Credit Crunch thats what they mean.
March update is not that long to wait - I used to phone the Farjo clinic regarding the trials up until they stopped giving information out.I still believe they might just end up with something - Honest.

 

[follicle84]

Hmm isnt there some way for them to get enough money through shares. Im sure a lot of people here would invest in them so that when the company becomes big those share holders can sell there shares and have enough made through them to pay for hair multiplication. That could be wishfull thinking though, but its still an idea.

 

[ClayShaw]

ICX released this yesterday Feb. 23rd, 2009. They are up for sale, or looking for a merger. This could mean they have serious money problems. It doesn't look good for them.

Here's the link:
http://www.intercytex.com/icx/news/rele ... 09-02-23a/

Check out this link.
http://www.intercytex.com/icx/products/pipeline/
Appears to suggest that Phase II is complete.