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Stock soars after Cold-fX wins crucial approval% }! N3 j( a) {, ?4 F- D, D* z
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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.0 T4 J4 d( S: E1 ]
# E9 a4 |+ ]7 LBY THE EDMONTON JOURNAL FEBRUARY 16, 2007
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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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7 w+ q8 F9 G# Q5 S0 \! jThe 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."
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The APPROVAL follows a review of seven clinical trials and more than 10 years of research about the product.0 X5 u P% B3 O @* ~3 T$ M6 m4 N
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It should create even more confidence among consumers and medical professionals that the product works, CEO Jacqueline Shan said Thursday.6 T3 k: c3 H$ @
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It certainly instilled confidence in the market, as shares closed at $2.90 on THE TORONTO STOCK EXCHANGE, up $1.08 on a volume of 4.6 million.
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"As a scientist, it's one of the highlights of my CAREER," Shan said.
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"This approval is a breakthrough in realizing our vision of being a global leader in developing products for disease prevention."
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It's Cold-fX's strongest medical recognition to date, said Shan. It means the company can advertise the HEALTH BENEFITS more effectively to consumers and health professionals, she said.
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/ x' R. y8 x) P# s$ pGinseng-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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The 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.+ \% W: H- C4 f1 r9 M- o
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6 t0 f; i& P: c! \+ Nhttp://www.canada.com/story.html ... 9-be80-f40f1426f662 |
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