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Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, released that Mr. Michael Cohen, Chairman and CEO, is scheduling a multi-city European road trip to create additional awareness of the Proteonomix, Inc. investment opportunity to institutional investors.
Scheduled for early October, Mr. Cohen will discuss with sophisticated investors the recent contract to establish a joint venture with a group of investors that will establish a new stem cell treatment and research facility in the United Arab Emirates (U.A.E.). In addition, Mr. Cohen will discuss the opportunity to set up additional joint ventures in other countries using the U.A.E. arrangement as a model.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.'s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use. National Stem Cell, Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York, Inc. is a fully operational tissue bank. Proteonomix Regenerative Translational Medicine Institute, Inc. (PRTMI) intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies.
AutoNavi Holdings Limited (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, reported AutoNavi's unaudited financial results for the quarter ended June 30, 2010. Net revenues in the second quarter of 2010 were $22.1 million, representing an increase of 63.1% year-over-year from the second quarter of 2009 and 33.4% sequentially from the first quarter of 2010.
Net revenues from the automotive navigation market in the second quarter of 2010 were $16.6 million, an increase of 125.7% year-over-year and 35.8% sequentially. The increases were mainly due to an increase in the number of copies of digital map data licensed for use in in-dash navigation systems, which is directly linked to the number of vehicles sold in China that are equipped with these systems. Net revenues from the public sector and enterprise applications market in the second quarter of 2010 were $2.0 million, a decrease of 55.9% year-over-year and 11.2% sequentially, mainly due to a decrease in revenues from the aerial photogrammetry business. The year-over-year decrease in revenues from the aerial photogrammetry business was primarily attributable to a relatively large portion of revenues in the second quarter of 2009 associated with the central government's second national land survey project and, to a lesser extent, the flight schedule delays caused by unfavorable weather conditions during the second quarter of 2010. The sequential decrease was mainly due to the flight schedule delays caused by unfavorable weather conditions during the second quarter of 2010.
Gross profit in the second quarter of 2010 was $14.7 million, an increase of 63.0% year-over-year and 34.2% sequentially. Gross margin, or gross profit as a percentage of net revenues, was 66.2% in the second quarter of 2010, compared to 66.3% in the year-ago period and 65.9% in the previous quarter.
AutoNavi Holdings Limited is a leading provider of digital map content and navigation and location-based solutions in China. At the core of AutoNavi's business is a comprehensive nationwide digital map database that covers approximately 2.8 million kilometers of roadway and over 12.5 million points of interest across China. Through AutoNavi's digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, public sector and enterprise applications, wireless location-based solutions and Internet location-based solutions.
Attorney Advertising. Keller Rohrback L.L.P. reports that it recently filed a second Fair Labor Standards Act suit in the U.S. District Court of Arizona on behalf of current and former Store Managers at AutoZone, Inc. (NYSE:AZO) (Khan, Glover-Hale, and Montoya et al. v. AutoZoners LLC and AutoZone, Inc, Case No. 10-cv-01828.) The complaint alleges that AutoZone improperly classified its Store Managers as exempt, thereby denying them compensation for hours worked in excess of 40 per work week. The suit seeks to recover unpaid overtime compensation and other benefits of employment to which the improperly classified Store Managers are entitled.
The Store Managers' job duties involve minimal managerial tasks. Most of the tasks are the same as those of non-exempt employees, such as operating the cash register, stocking merchandise in accordance with AutoZone's detailed plan-o-grams, and serving customers. On average, the Store Managers spend no more than one hour a day on management (less than 10% of the total working hours) using AutoZone's computer system to schedule other workers, visiting customers with the Commercial Accounts Manager, and otherwise managing the store.
The Store Managers are closely supervised by AutoZone District Managers, with daily phone calls that provide detailed instructions on what to accomplish in the store that day, and via AutoZone's computer system which is connected to headquarters in real time, so the District Managers and other AutoZone executives can monitor sales and other activities in the stores.
Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) reported that executive management will participate in the following investor conferences:
* The Stifel Nicolaus Healthcare Conference to be held September 15-17, 2010 at the Four Seasons Hotel in Boston. Mr. James E. Fickenscher, Chief Financial Officer, is scheduled to present an overview of Auxilium Pharmaceuticals and its product pipeline at 9:45 a.m. ET on Thursday, September 16, 2010.
* The UBS Global Life Sciences Conference to be held September 20 - 22, 2010 at The Grand Hyatt in New York City. Mr. Jim Fickenscher, Chief Financial Officer, is scheduled to present an overview of Auxilium Pharmaceuticals and its product pipeline at 10:30 a.m. ET on Tuesday, September 21, 2010.
To listen to the audio web cast of the presentation during or after the event, please visit: http://www.auxilium.com. The replay will be available for ninety days after the event.
Auxilium Pharmaceuticals, Inc., a specialty biopharmaceutical company, focuses on developing and marketing products to urologists, endocrinologists, primary care physicians, hand surgeons, rheumatologists, and orthopedic, general, and plastic surgeons primarily in the United States. Auxilium markets Testim, a topical 1% testosterone gel for the treatment of hypogonadism; and XIAFLEX (collagenase clostridium histolyticum), an injectable collagenase enzyme for the treatment of Dupuytren's contracture. Auxilium also develops XIAFLEX, which is in Phase II clinical trials for the treatment of Peyronie's disease and Adhesive Capsulitis. In addition, Auxilium's product pipeline includes AA4010 that is in Phase I clinical trials for the treatment for overactive bladder using its transmucosal film delivery system; and A Fentanyl, a pain product, which is under Phase I clinical trials. In addition, Auxilium has rights to develop other compounds for the treatment of pain using Auxilium's transmucosal film delivery system; and other products for the treatment of urologic disease and hormone replacement using its transmucosal film technology.
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