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Stock soars after Cold-fX wins crucial approval% F3 ^+ p6 ~+ i7 L- P# Q
" _' T6 U) T9 b" g5 ^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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BY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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$ f) N1 ^8 B$ mEDMONTON - 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.% X3 F/ d- R% ~ E
+ F) l7 } b! D0 U9 SThe 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."9 p- z, f7 P) [
! R( h f, Z" C- c7 X( z; oThe APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.4 A/ e. H; B& V w L
! s1 d7 f: @; w# b' c; f1 V1 UIt should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.) W; t0 M" x0 K, {+ J
5 t( y% Q' L0 ]6 Q/ L QIt certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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7 q6 `; [; [1 i. D"As a scientist, it's one of the highlights of my CAREER," Shan said. G) n1 H$ I/ g9 ^
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"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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7 C3 q9 W. f4 rIt'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.
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Ginseng-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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0 l/ i" k. |+ ?/ D7 L& yThe 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.
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4 c( D) K$ \( I: d" yhttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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