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Prospector
Profile
07.1180
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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 $8,451,942 for its fiscal year ended May 31, 2007, substantially higher than the net loss reported during the previous year of $6,104,402. The Company also used cash for operating activities of $6,576,012 for the year ended May 31, 2007, compared to $5,646,555 last year. The Company's balance sheet showed $26,863,547 in accumulated deficit as of May 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 its bioregulatory technology. The Company has been issued US Patent #7,211,258 in May 2007. 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-K 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, CPA (VP, CFO, Sec. & Treas.); 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 July 31, 2007.
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