NEOPROBE Corp. - strong buy - 500 Beiträge pro Seite

[wayne99]

Press Release Source: Neoprobe Corporation


J.M. Dutton & Associates Announces Investment Opinion: Neoprobe Strong Speculative Buy Rating Maintained by Dutton & Associates
Tuesday February 1, 12:00 pm ET


EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Feb. 1, 2005--J.M. Dutton & Associates continues coverage of Neoprobe Corporation (OTCBB:NEOP - News), maintaining its rating at Strong Speculative Buy and a price target of $1.70. The 6-page report by J.M. Dutton senior analyst William R. Prather, R.Ph., M.D. is available at www.jmdutton.com, as well as from First Call, Bloomberg, Zacks, Reuters, and other leading financial portals.
The Company noted in the 90s that lymphocytes derived from RIGS-identified lymph nodes appeared to be activated against tumor antigens and could be used to boost the patient`s immunity to tumors. Subsequent laboratory, preclinical and pilot clinical programs have indicated a similar pharmaco-physiologic response in a variety of clinical settings including a host of malignancies, viral infections and auto-immune diseases. On January 18, 2005, Neoprobe publicly announced its intent to resurrect their ACT technology indicating the availability of resources, key individuals and positive previous clinical data. Neoprobe intends to pursue this through the formation of a new corporation called CIRA Biosciences, Inc. CIRA Biosciences, of which Neoprobe will own 90% of the outstanding shares, will focus on implementing their ACT technology in the treatment of certain malignancies, autoimmune and viral diseases. CIRA Biosciences now has the development and commercialization rights to three issued patents, and has license to several pending patent applications that cover these diseases. We believe the data we have reviewed surrounding ACT suggests this technology may play a therapeutic role in a diverse number of ailments. We believe an important first step for CIRA Biosciences is to sort out which indication for the technology should be primarily pursued. This decision, of course, must take into consideration such things as market size, breadth and quality of products currently serving the market and the length of time and financial and technological complexities involved along the path to regulatory approval. We believe Battelle Memorial Institute is aiding CIRA Biosciences in this effort.

About Dutton & Associates

Dutton & Associates is one of the largest independent investment research firms in the U.S. Its 28 senior analysts are primarily CFAs, and have expertise in many industries. Dutton & Associates provides continuing analyst coverage of over 85 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $33,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton & Associates received $28,000 from the Company for 4 Research Reports with coverage commencing on 7/26/2004. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst`s personal views about the subject securities or issuer. Neither the analyst`s compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.



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Contact:
J.M. Dutton & Associates, LLC.
John M. Dutton, 916-941-8119



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Source: Neoprobe Corporation

[wayne99]

US-Kurs nun schon 0,68$ - Taxe 0,68/0,72$

[i2fan]

Habe mir erst mal 1500 Stück zu 0,50 Euro zugelegt.

Mal sehen was das gibt.

i2fan

[Scar]

Dann bin ich mit meinen 5250 ja direkt ein Großaktionär ;-)

[Scar]

Problem ist, dass der Titel in Deutschland so gut wie nicht gehandelt wird und man die letzten Tagen nur zu umgerechnet schlechten Kursen raus kam.

[i2fan]

mmmh, jedenfalls sind bei mir 0,50 euro auch ungefähr der
Kurs, der dem Dollar-kurs in den USA entspricht.
Hätte ich die in den USA geordert, kämen ja noch mal
höhere Gebühren dazu.

allerdings ist der Kurs in Frankfurt danach auf 0,53
gesprungen. Das ist natürlich wieder zu viel.

In Frankfurt muß man da natürlich ein Limit mitgeben,
damit man keine böse Überraschung erlebt.

[Scar]

Naja. Die gestrigen 0,67 USD entsprechen 0,52 €. Daher bist Du echt billig rein gekommen. Verkaufen hätte man zum Bid von 0,45 können.

[ramei]

Gibs hier was neues??

Sollte man bei € 0,45 einsteigen?

Wie hoch ist das Risiko?

[i2fan]

Risiko dürfte hoch sein, deshalb ordere ich auch nur kleine Mengen. Hatte 1500 Stück zu 0,50 gekauft.
sind gerade mal 750 Euro. Heute sind sie zwischenzeitlich
20 % im minus bei 0,40. Versuche jetzt noch 2000 zu
0,40 zu bekommen. Macht zusammen 1550 Euro in diese Aktie.
Mehr zu investieren ist mir hier zu risikoreich. Die
könnte auch wieder auf 20 cents abstürzen.

[wayne99]

Neoprobe Establishes Corporate IND for Lymphoseek
Thursday February 24, 8:30 am ET
Neoprobe Assumes Corporate Responsibility for Clinical Evaluation


DUBLIN, Ohio--(BUSINESS WIRE)--Feb. 24, 2005--Neoprobe Corporation (OTCBB:NEOP - News), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced that U.S. Food and Drug Administration (FDA) has accepted its request to establish a corporate Investigational New Drug (IND) application for Lymphoseek(TM). With the establishment of the corporate IND, responsibility for the clinical and commercial development of Lymphoseek has been officially transferred from the University of California, San Diego (UCSD) to Neoprobe. Lymphoseek is intended to be used in biopsy procedures for the detection of lymph nodes in a variety of tumor types including breast, melanoma, prostate, gastric and colon cancers.
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In connection with the transfer of responsibility for the Lymphoseek IND from UCSD to Neoprobe, FDA has provided guidance suggesting Lymphoseek be evaluated in a multi-center clinical study to confirm the findings observed by the UCSD researchers. This initial multi-center trial would then be followed by a confirmatory Phase III study using the final cGMP material. Neoprobe intends to commence enrollment in the first of the two multi-institutional studies as soon as the appropriate regulatory and institutional review board clearances are received. These multi-center studies are planned to be conducted at some of the leading cancer treatment institutions in the world. FDA guidelines also require Neoprobe to complete some additional preclinical activities prior to the initiation of the multi-center trials. Neoprobe has initiated this preclinical work in parallel to its other development activities and intends to submit an IND amendment prior to the initiation of the multi-center studies.

Dr. Richard Orahood, Neoprobe`s Medical Director, said, "To date, the clinical and preclinical results that have been completed demonstrate the benefits of Lymphoseek. We believe the properties of Lymphoseek will be confirmed by the patients to be involved in the multi-center studies."

David C. Bupp, Neoprobe`s President and CEO, said,"The guidance we have received during our discussions with FDA has resulted in positive modifications to our clinical development plan and, to this point, has not significantly affected the overall number of patients to be accrued or our originally anticipated timeline for filing a New Drug Application (NDA) for Lymphoseek by mid-2006."

Bupp continued, "Neoprobe has selected Reliable Biopharmaceutical of St. Louis, MO to produce the cGMP material and Reliable has already successfully completed an initial demonstration run of bulk material. In addition, Neoprobe has selected a well known clinical research organization, i3 Research, to manage and oversee the multi-center trials to be initiated for Lymphoseek."

About Neoprobe

Neoprobe develops and provides innovative surgical and diagnostic products that enhance patient care by meeting the critical decision making needs of healthcare professionals. Neoprobe currently markets the neo2000® line of gamma detection systems that are widely used by cancer surgeons for intraoperative lymphatic mapping. Neoprobe is also in the process of commercializing the Quantix® line of blood flow measurement products developed by its subsidiary, Cardiosonix Ltd., that are designed to be used by cardiovascular surgeons, neurosurgeons and critical care physicians. In addition, Neoprobe holds significant interests in the development of related biomedical systems and agents including Lymphoseek(TM) and RIGScan® CR. Lymphoseek is an investigational drug being developed as a lymphatic tracing agent in conjunction with the University of California, San Diego. The RIGS® system is an investigational technology that combines the Company`s gamma detection device technology with a proprietary disease-specific radiolabeled cancer targeting agent, and a patented surgical method to get real-time information to locate tumor deposits that may not be detectable by conventional methods. Before surgery, a cancer patient is injected with one of the targeting agents, which circulates throughout the patient`s body and binds specifically to cancer cell antigens or receptors. Concentrations of the targeting agent are then located during surgery by the company`s gamma-detection instrument, which emits an audible tone to direct the surgeon to targeted tissue. The Company`s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions.

Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company`s plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company`s products are forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company`s continuing operating losses, uncertainty of market acceptance of its product, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company`s most recent Annual Report on Form 10-KSB and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.



--------------------------------------------------------------------------------
Contact:
Neoprobe Corporation
Brent Larson, 614-793-7500
or
The Trout Group
Tim Ryan, 212-477-9007



--------------------------------------------------------------------------------
Source: Neoprobe Corporation

[ramei]

Bitte um Übersetzung mit kurzen Worten in Deutsch

ix nix verstähe

[i2fan]

Sieht im moment charttechnisch kurzfristig schlecht
aus, wenn man die 10 Tageslinie betrachtet.
Auf 3-montsbasis ist aber der aufwärtstrend noch intakt.
Vermutlich kriegt man die aktie am montag für 0,40 cents.

[Scar]

und jetzt für 0,37 Cents.
Da überlege ich glatt nachzukaufen.
Was meint Ihr wies weiter geht?

[i2fan]

eher weiter runter.
abwarten. die fallen vielleicht noch auf 0,30 cents
sind jetzt in USA im minus.
Vielleicht gehts dann wieder ab, so wie heute MIV (798618)
Aber erst müßte Neoprobe noch mal richtig fallen.

[wayne99]

....gestern veröffentlicht:

Press Release Source: Neoprobe Corporation


Neoprobe Releases Text of Letter to Stockholders
Wednesday March 9, 12:27 pm ET


DUBLIN, Ohio--(BUSINESS WIRE)--March 9, 2005--Neoprobe Corporation (OTCBB:NEOP - News), a diversified developer of innovative oncology diagnostic and treatment products and cardiovascular surgical and diagnostic products, today released the text of its annual Letter to Stockholders from Neoprobe Chairman Dr. Julius R. Krevans and President and CEO David C. Bupp.
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The letter highlights Neoprobe`s business and financial activities in 2004 and early 2005 and outlines planned business initiatives for the remainder of 2005. The text of the stockholder letter follows.

Dear Fellow Stockholders,

This past year heralded the beginning of a new and exciting era for Neoprobe Corporation as we embarked on the process of redefining ourselves as a biomedical company with a broad product portfolio that includes not only medical devices but also biomedical and therapeutic products, that we believe have tremendous market potential. After achieving profitability following the retrenchment into our core gamma device business three years ago, we set out on a growth strategy centered on medical devices while we pursued other avenues for growth. Our pursuit of these "other avenues" yielded positive results in 2004 that caused us to take aggressive steps to expand our product portfolio and to activate development initiatives outside of the medical device arena. While we continue our efforts to grow our medical device business, we believe our RIGScan® CR and Lymphoseek(TM) initiatives have the potential to enhance stockholder value far beyond what we might achieve in medical devices alone. In addition to the successes we enjoyed in 2004, we encountered some disappointments, primarily related to our blood flow measurement devices, but we emerged from the year a stronger and more viable company with achievable goals and within reach of the success we envision.

Our loss from operations for 2004 increased due primarily to our new emphasis on development of our biomedical products and, while increasing over the prior year, emphasizes some of what we believe represent strengths in our current business model. While we are incurring significant development costs related to our biomedical initiatives that we believe will yield future rewards, we are able to leverage on a successful gamma device business to cover our public company corporate overhead costs so that the funds we have recently raised to further research and development are used for just that.

We are determined, however, not to rest on the laurels of being the recognized market leader in gamma detection devices. During 2004, we continued to innovate our gamma detection line while improving our gross margin on these products by nearly 40%. We experienced declines in revenue from our blood flow measurement product line during 2004 based on our conscious decision to temporarily pull back from the marketplace while our research personnel painstakingly worked to address the feedback we received following the initial thought leader introduction in early 2004. We believe our customers` fundamental blood flow measurement needs will be more than met in the refined devices we will launch in 2005. We also experienced a decline in license revenue during the year; however, as license fee revenue primarily represents the non-cash amortization of a license fee received five years ago, the decline has little real impact on our operations.

Our development expenses increased nearly 30% over the prior year. This increase is commensurate with our strategy to further the development of our radiopharmaceutical products while we continue to manage the costs related to our device development activities and maintain our general and administrative overhead structure as best we can in an increasingly complex business environment for public companies. Our financial strength was also significantly enhanced during 2004 with the receipt of net capital infusions totaling $9.7 million, the majority of which came from a single institution with a strong reputation in the biomedical investment community.

In addition to the improvements in our gamma device business and the continuation of our efforts to commercialize our blood flow measurement devices, we advanced the development of procedural or recurring revenue products, such as Lymphoseek and RIGScan CR, to complement our device product businesses. Following are some of the milestones achieved in 2004 related to our biomedical initiatives:

Presentations at the Society of Nuclear Medicine and the World Sentinel Node Congress meeting of favorable results from the clinical evaluation of Lymphoseek in breast and melanoma cancer patients and preclinical evaluation of Lymphoseek in gastric and colorectal cancers
Initiated discussions with the U. S. Food and Drug Administration (FDA) to develop an investigational protocol for a multi-center evaluation of Lymphoseek under a Neoprobe corporate investigational new drug (IND)
Meeting with FDA to review the survival data from the Phase III clinical evaluation of RIGScan CR in patients with recurrent colorectal cancer and to explore the potential reactivation of the development program for RIGScan CR
Completion of development work on software algorithm revisions and of development for a flexible probe for the Quantix/OR(TM) blood flow measurement system
Presentation of data from the first multi-center clinical evaluation of the Quantix/ND(TM) system demonstrating the patient benefit of non-invasive bedside cerebral blood flow (CBF) measurement
Establishment of CIRA Biosciences, Inc. (CIRA Bio) to pursue the evaluation of activated cellular therapy technology for the treatment of a variety of life-threatening diseases including cancer, viral and autoimmune disease.
During a meeting with the Council on Biomedical Imaging on Oncology (the Interagency Council) in late 2003, we learned that FDA might be receptive to new clinical information that had emerged from the Phase III studies conducted with RIGScan CR in recurrent colorectal cancer. In April, we met with FDA to review the clinical information. As a result of the meeting, we were able to confirm the following:

Neoprobe` biologic license application for RIGScan CR remains active
The survival data from the earlier clinical study would be supportive of a prognostic (i.e., survival) indication for RIGScan CR
The target population for RIGScan CR would include both patients with primary and recurrent colorectal cancer
Following our April meeting with FDA, we completed a submission concerning the design of a new Phase III clinical study to be conducted in patients with primary colorectal cancer. Our submission included a proposed clinical trial design with objectives to demonstrate both diagnostic and prognostic/therapeutic endpoints. In October, Neoprobe received a response from FDA that the prognostic/therapeutic trial design appeared to meet their guidelines, but they requested additional information concerning the diagnostic clinical objective. FDA`s response to our clinical submission included an invitation for Neoprobe to seek a special protocol assessment (SPA) of our proposed Phase III study. Neoprobe intends to seek the SPA review of the complete Phase III package including the clinical protocol, training materials and data collection forms later this year. In concert with our meetings with FDA, we met with representatives of the European regulatory body, the EMEA, to seek guidance for the RIGScan CR program in Europe. The guidance from the EMEA was consistent with the input from FDA with the additional recommendation that any future clinical studies be conducted with the humanized version of the RIGScan CR antibody.

In parallel with our discussions with the regulatory authorities, we have discussed the clinical and regulatory strategy for RIGScan CR with reimbursement consultants who provided us with valuable input regarding the potential target pricing for a RIGScan product. Our consultants have advised us that if we proceed with our original plans to seek an earlier conditional clearance for the potential diagnostic indications for RIGScan CR followed by clearance for the prognostic/therapeutic indication, we might significantly limit the ultimate potential price for the prognostic/therapeutic product. Since we have announced that it is our intention to develop RIGScan CR in cooperation with a development partner, we intend to make the decision on which indications to seek clearance for jointly. Finally, in preparation for the initiation of the next phase of clinical evaluation of RIGScan CR, we have initiated discussions with potential biologic manufacturers and radiolabeling organizations.

Our drug development activities during 2004 were not confined to RIGScan CR. We also moved forward with our clinical development program for Lymphoseek, the first radiopharmaceutical specifically designed to target lymphatic tissue. Favorable research data from the clinical evaluation of Lymphoseek was presented at both the Society of Nuclear Medicine and the World Sentinel Node Congress meetings. Also, researchers at the University of California, San Diego (UCSD) completed a laparoscopic evaluation of Lymphoseek in preclinical studies of gastric and colon cancers and prepared to initiate an evaluation of Lymphoseek in prostate cancer patients. Based upon input from our November 2003 meeting with the Interagency Council, we are developing a clinical protocol for submission under our corporate IND. FDA has accepted the transfer of the UCSD physician IND to Neoprobe and we have assumed full clinical and commercial responsibility for the development of Lymphoseek.

With the establishment of the corporate IND, FDA has provided guidance that they would prefer to have Lymphoseek evaluated in a multi-center clinical study to confirm the clinical findings observed by the UCSD researchers to be followed by a confirmation Phase III study that would be initiated with the final cGMP material. Neoprobe intends to commence enrollment in this multi-institutional study as soon as the appropriate regulatory and institutional review board clearances are received. The study will be conducted at some of the nation`s leading cancer treatment institutions.

In preparation for the commencement of multi-center clinical evaluation of Lymphoseek and to support an eventual new drug application (NDA) for Lymphoseek, Neoprobe evaluated potential drug manufacturing organizations and initiated the transfer of manufacturing protocols developed at UCSD to the selected contract manufacturing organization. Neoprobe selected Reliable Biopharmaceuticals (Reliable) to produce the chemical compound that is then labeled at hospital or regional commercial radiopharmacies with Tc99m to become Lymphoseek. Reliable has completed an initial production lot of the unlabeled compound that compares favorably to the material produced by UCSD. Reliable has also been recently favorably inspected by FDA and they will be responsible for the manufacturing section development of our NDA for Lymphoseek.

Despite the year`s successes, we were disappointed by the delays we experienced in the commercial success of the Quantix® products. As we reported last year, the initial physician and distributor evaluation of the flagship product, the Quantix/OR, indicated a number of design weaknesses that needed to be corrected before the commercial launch of the product could be considered. The development activities for the Quantix/OR involved an extensive revamping of the software algorithms and a complete redesign of the Quantix/OR probe to improve system performance and measurement accuracy and to enhance physician acceptance of the system. The initial negative response to the original Quantix/OR system strained many of our distributor relationships; however, we are heartened by the distributor response to the changes and improvements we have made to the Quantix/OR system. Despite the difficulties we have encountered, our underlying belief in the market need for a reliable system to measure blood flow has not been dampened. We continue to believe strongly in the blood flow market and believe the recently completed changes to our Quantix/OR system will lead to the successful launch of a competitive product in early 2005.

With completion of the initial development activities for Quantix/OR, we submitted a special 510(k) to FDA for clearance to market the revised Quantix/OR system in the United States and received this clearance in early February 2005. In addition, the revisions to the technical file in Europe have been completed to permit us to begin delivery of the improved Quantix/OR system in Europe as new flexible probes are received from our contract manufacturer. We reintroduced the Quantix/OR to the European surgical community at the Germanic Surgical Congress in Hamburg earlier this month and we are positioned to introduce the product to the North American surgical community at the American Association of Thoracic Surgeons (AATS) meeting in San Francisco in early April.

In addition to the development activities on the Quantix/OR, the Cardiosonix and Neoprobe development personnel have been completing revisions to the software algorithm for the Quantix/ND that will increase CBF measurement accuracy and improve user interface. The first multi-center data from the correlation of CBF measurement with accepted clinical events was presented at an international congress meeting. The presentation of the clinical evaluations of the Quantix/ND has set the stage for the broader adoption of the technology in the monitoring of patients with neuro-trauma and other neurology situations. In addition, the algorithm changes will permit the evaluation of the system in a variety of vascular diagnostic applications.

Finally, we have formed a new subsidiary, CIRA Bio, to explore the development of patient-specific activated cellular therapy approaches to a variety of diseases. As an outgrowth of its oncology research, Neoprobe determined that lymph node lymphocytes containing helper T-cells could be activated and expanded to treat oncology, viral and autoimmune disease afflicted patients. We have seen promising efficacy of this technology demonstrated from six Phase I clinical trials. We have licensed three issued patents covering the oncology and autoimmune applications as well as pending patents on the viral application and related applications of the CIRA Bio technology. CIRA Bio has engaged a highly respected third party research organization to complete a technology and manufacturing process assessment of the cellular therapy approach. In addition, a scientific advisory group is being formed to develop a clinical and regulatory approach for the CIRA Bio technology. Following the completion of these assessments and the formation of a commercialization strategy, CIRA Bio intends to raise the necessary capital to move this technology platform forward. The means by which this funding is obtained will likely dilute Neoprobe`s ownership interest in CIRA Bio; however, we believe that moving forward such a promising technology will only yield positive results for the Neoprobe stockholders and the patients who could benefit from these treatments.

We believe that the business and financial opportunities for Neoprobe have improved significantly as a result of the activities outlined above. The commercial opportunities afforded by Lymphoseek, RIGScan CR and the CIRA Bio technology provide significant revenue opportunities to complement our device business. All of our product efforts are focused on fulfilling our mission of enhancing patient care and improving patient outcome by meeting the critical intraoperative diagnostic information needs of physicians and therapeutic treatment needs of patients. With your continued assistance and support, Neoprobe will emerge as a leading innovative biomedical company.

Sincerely

Dr. Julius R. Krevans, Chairman
David C. Bupp, President and CEO

About Neoprobe

Neoprobe develops and provides innovative surgical and diagnostic products that enhance patient care by meeting the critical decision making needs of healthcare professionals. Neoprobe currently markets the neo2000® line of gamma detection systems that are widely used by cancer surgeons for intraoperative lymphatic mapping. Neoprobe is also in the process of commercializing the Quantix® line of blood flow measurement products developed by its subsidiary, Cardiosonix Ltd., that are designed to be used by cardiovascular surgeons, neurosurgeons and critical care physicians. In addition, Neoprobe holds significant interests in the development of related biomedical systems and an agent including Lymphoseek(TM) and RIGScan® CR. Lymphoseek(TM) is an investigational drug being developed as a lymphatic tracing agent in conjunction with the University of California, San Diego. The RIGS® system is an investigational technology that combines the Company`s gamma detection device technology with a proprietary disease-specific radiolabeled cancer targeting agent, and a patented surgical method to get real-time information to locate tumor deposits that may not be detectable by conventional methods. Before surgery, a cancer patient is injected with one of the targeting agents, which circulates throughout the patient`s body and binds specifically to cancer cell antigens or receptors. Concentrations of the targeting agent are then located during surgery by the company`s gamma-detection instrument, which emits an audible tone to direct the surgeon to targeted tissue. The Company`s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions.

Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company`s plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways and markets for the Company`s products are forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company`s continuing operating losses, uncertainty of market acceptance of its product, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company`s most recent Annual Report on Form 10-KSB and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

www.neoprobe.com



--------------------------------------------------------------------------------
Contact:
Neoprobe Corporation
Brent Larson, 614-793-7500
or
The Trout Group
Tim Ryan, 212-477-9007



--------------------------------------------------------------------------------
Source: Neoprobe Corporation

[i2fan]

Neoprobe stürzt immer tiefer.

Biotech-Aktien können wohl zur Zeit nur bei guten Meldungen
steigen, wie z.b. bei MIV.

[Atlantis_Invest]

Heute ist Kauftag.

Aber nur in USA ordern!
Natürlich nur mit Limit!
Stop = $0,34



mfg

[i2fan]

Hat heute mit 0,32 cents zeitweise neues Jahrestief
erreicht. Ist aber im Moment wieder im plus.
könnte eventuell der Start einer Rally werden ?

[Scar]

Wird langsam wieder Zeit für einen Anstieg. Der Boden dürfte wohl gefunden sein. Die Zukunftsperspektiven sind immer noch genauso gut wie vor einem halben Jahr.

[Scar]

Jetzt gehts langsam los. Schon wieder + 10%.

[Scar]

Passiert denn gar nichts mehr?
Noch jemand hier?

[Scar]

15-Aug-2005

Quarterly Report


Item 2. Management`s Discussion and Analysis of Financial Condition and Results of Operations

Neoprobe Corporation is a biomedical technology company that provides innovative surgical and diagnostic products that enhance patient care by meeting the critical decision-making needs of physicians. The December 2001 acquisition of Cardiosonix Ltd. (Cardiosonix) expanded our potential product offerings beyond the neo2000 gamma detection device, which is marketed in the oncology arena, into the area of blood flow measurement and cardiac care. Cardiosonix is commercializing a unique line of proprietary blood flow monitoring devices for a variety of diagnostic and surgical applications and has received marketing clearance for two of its products, Quantix/ND(TM) and Quantix/OR(TM), in Europe and in the U.S. In addition to our medical device products, we have two radiopharmaceutical products, Lymphoseek(TM) and RIGScan(R) CR, in the advanced phases of clinical development. In January 2005 we also formed a new subsidiary, CIRA Biosciences, Inc. (CIRA Bio) to advance our activated cellular therapy (ACT) platform.

This Overview section contains a number of forward-looking statements, all of which are based on current expectations. Actual results may differ materially from the anticipated results discussed herein. Our financial performance is highly dependent on our ability to continue to generate income and cash flow from our gamma device product line and on our ability to successfully commercialize the blood flow products of our subsidiary,

Cardiosonix. We cannot assure you that we will achieve the volume of sales anticipated, or if achieved, that the margin on such sales will be adequate to produce positive operating cash flow. We continue to be optimistic about the longer-term potential for our other proprietary, procedural-based technologies such as Lymphoseek, RIGS(R) (radioimmunoguided surgery) and ACT; however, these technologies are not anticipated to generate any significant revenue for us during 2005 or 2006. In addition, we cannot assure you that these products will ever obtain marketing clearance from the appropriate regulatory bodies.

Our revenue for the first six months of 2005 was somewhat higher than our original expectations. Unit sales of our gamma detection devices year-to-date were consistent with our expectations; however, we experienced both an increase in average sales prices and higher than normal sales of extended service agreements during the period. Our sales of blood flow measurement devices represents a combination of demonstration and customer unit sales following the launch of a redesigned Quantix/OR device late in the first quarter of 2005. We continue to expect net sales of gamma detection devices for 2005 to be consistent with 2004 and that our sales of blood flow measurement devices will continue to increase during the second half of 2005 over the first half of the year. However, due to the time necessary to retrain our distributor base as well as the normal capital product sales cycle, sales of Quantix(R) devices during the remainder of 2005 are more likely to be weighted in the fourth quarter and are still highly dependent upon physician response to the product.

Our operating expenses during the first six months of 2005 were focused primarily on support for our Lymphoseek product development. In addition, we continued to make significant investments in CIRA Bio`s ACT technology and our Quantix blood flow measurement line as well as modest investments in our neo2000(R) gamma detection device product line. We expect our development expenses to increase over the remainder of 2005 as we complete non-clinical testing, conclude certain drug manufacturing and validation activities and prepare to begin multi-center clinical evaluation of Lymphoseek. We expect to continue to incur development expenses to support and innovate our device product lines as well as move our other initiatives forward. We will also continue to invest in marketing and development support for our blood flow products during 2005 as we work with our distribution partners and independent sales representatives to complete the commercialization of our Quantix product lines.

Our efforts thus far in 2005 have resulted in the following milestone achievements:

o Received 501(k) and CE Mark clearances to market the redesigned Quantix/OR system;

o Established corporate Investigational New Drug (IND) application for Lymphoseek and submitted multi-center clinical protocol and related materials to FDA under the IND;

o Received initial feedback to the Lymphoseek IND from the FDA;

o Licensed methodology patents strengthening RIGS intellectual property estate;

o Expanded Lymphoseek license to cover photodynamic and ultrasound applications; and

o Received positive independent technology assessment of CIRA Bio`s ACT platform.

We are in the process of completing certain pre-clinical and animal testing requested by the FDA in their feedback to our Lymphoseek IND submission. We expect these pre-clinical studies to be completed within the next 30 days. Following the FDA`s review of the pre-clinical results, we expect to begin enrollment in a Phase II multi-center study at five leading cancer centers in the U.S. The Phase II study is expected to be completed midway through the fourth quarter of 2005. We are also continuing our manufacturing scale-up and validation activities to support the upcoming clinical trials. As a result of these activities, we expect our development expenses related to Lymphoseek to increase over the remainder of 2005 and into 2006, although we continue to believe our estimate of $5 million in out-of-pocket development costs remains appropriate. Our overall timeline for Lymphoseek remains focused on completing the Phase II study followed by a pivotal clinical trial to support our goal of filing a New Drug Application (NDA) for Lymphoseek by mid-2006.

With respect to our RIGS initiative, our current efforts are focused on identifying and securing a development partner. At present, we estimate the expenses to prepare for and conduct a Phase III clinical trial for RIGScan CR will total approximately $25 million. However, expenses for

these projects may change based on feedback from the regulatory agencies and/or modifications made to trial designs. It remains our intent to seek a development partner to assist in or take full responsibility for funding of RIGScan CR development. In the meantime, until a partner is secured, we are moving forward with our plans to submit a request for a special protocol assessment (SPA) related to RIGS; however, we do not expect to incur any significant additional expenses related to RIGS until a partner is secured.

The commercial manufacturing assessment recently completed by the Battelle Memorial Institute related to CIRA Bio`s ACT technology coupled with the clinical strategy recommendations recently made by CIRA Bio`s scientific advisors have set the stage for CIRA Bio to embark on capital-raising efforts, which we expect to begin during the third quarter as we look to move the platform forward.

We anticipate generating a net profit from the sale of our gamma detection devices in 2005; however, we expect to show a loss for our blood flow device product line for 2005 due to continued development and increased marketing and administrative support costs that are still required to commercialize the product line. Currently, we expect the loss on blood flow products for 2005 to be less than the loss incurred in 2004. However, this expectation is based to a large degree on our anticipation that we will achieve greater commercial sales of our Quantix/OR product during the remainder of 2005 than in 2004.

Our overall operating results for 2005 will be significantly affected by the amount of development costs associated with the radiopharmaceutical products. If we are unsuccessful in achieving significant commercial sales of the Quantix/OR product in 2005, or if we modify our business plan and decide to carry out RIGS development internally, our estimates and our business plan will likely need to be modified. As a result of our decision to fund Lymphoseek development internally, we do not expect to achieve operating profit during 2005. In addition, our net loss and net loss per share will likely be significantly impacted by the non-cash interest expense we expect to record related to the accounting treatment for the beneficial conversion feature of the convertible debt and for the warrants issued in connection with the private placement we completed in December 2004. Also, we cannot assure you that our current or potential new products will be successfully commercialized, that we will achieve significant product revenues, or that we will achieve or be able to sustain profitability in the future.

Results of Operations

Revenue for the first six months of 2005 increased $193,000, or 6%, to $3.2 million from $3.0 million for the same period in 2004. Net sales for the first six months of 2005 increased $593,000, or 23%, to $3.2 million from $2.6 million for the same period in 2004. Research and development expenses, as a percentage of net sales, increased to 61% during the first six months of 2005 from 46% during the same period in 2004. Selling, general and administrative expenses, as a percentage of net sales, decreased to 53% during the first six months of 2005 from 65% during the same period in 2004. Due to the ongoing drug and therapeutic development activities of the company, research and development expenses are expected to continue to be higher as a percentage of sales in 2005 than they were in 2004. In addition, marketing and selling expenses, coupled with increased financial compliance, investor relations and professional services costs, are expected to push our overall selling, general and administrative expenses slightly higher in 2005 than 2004 as a percentage of sales.

Three Months Ended June 30, 2005 and 2004

Net Sales and Margins. Net sales, primarily comprised of our gamma detection systems, increased $353,000, or 26%, to $1.7 million during the second quarter of 2005 from $1.3 million during the same period in 2004. Gross margins on net sales remained steady at 62% of net sales for the second quarters of 2005 and 2004. The increase in net sales was the combined result of a modest strengthening in gamma detection device sales prices in the U.S. and Europe partially influenced by the strong Euro exchange rate that continued through mid-year 2005, and increased extended service contract sales activity experienced by our primary gamma detection device marketing partner. Gross margin percentages remained steady but were influenced primarily by the increase in sales prices and unit sales volumes, coupled with increased extended service contract sales which typically generate higher margins than sales of our devices, and offset by slightly increased unit costs to manufacture our neo2000 control unit.

License and Other Revenue. License and other revenue in the second quarter of 2004 included $200,000 from the pro-rata recognition of license fees related to the distribution agreement with Ethicon Endo-Surgery, Inc. (EES), a Johnson and Johnson company. These license fees were fully amortized into income as of the end of the third quarter of 2004, so there were no such revenues recorded in the second quarter of 2005.

Research and Development Expenses. Research and development expenses increased $709,000 or 119% to $1.3 million during the second quarter of 2005 from $595,000 during the same period in 2004. The increase was primarily due to efforts to move forward with development activities related to our Quantix devices, Lymphoseek, the ACT technology platform of our CIRA Bio subsidiary, and increased headcount in the U.S., offset by decreased expenses related to our gamma detection devices, RIGS development, and declines in Israeli personnel. The second quarter of 2004 included significant development activities related to an updated version of our neo2000 system and product development activities related to the Quantix/OR. Research and development expenses in the second quarter of 2005 included approximately $84,000 in gamma detection device development costs, $390,000 in product design activities for the Quantix/OR system and $829,000 in drug and therapy product development costs. This compares to expenses of $140,000, $335,000 and $120,000 in these relative segment categories during the same period in 2004.

Selling, General and Administrative Expenses. Selling, general and administrative expenses decreased $25,000 or 3% to $828,000 during the second quarter of 2005 from $853,000 during the same period in 2004. Increases in certain overhead costs such as investor relations and depreciation coupled with increased headcount in the U.S. were offset by decreased marketing expenses.

Other Income (Expenses). Other expenses increased $251,000 to $272,000 during the second quarter of 2005 from $21,000 during the same period in 2004. The primary reason for the increase was an increase of $290,000 in interest-related expenses on debt financings we entered into during 2004. Of this interest expense, $168,000 and $35,000 in the second quarter of 2005 and 2004, respectively, was non-cash in nature related to the amortization of debt issuance costs and discounts resulting from the warrants and beneficial conversion features of the convertible debt. These increases were offset by an increase of $63,000 in interest income resulting from maintaining a higher balance of cash and investments during the second quarter of 2005 compared to the same period in 2004.

Six Months Ended June 30, 2005 and 2004

Net Sales and Margins. Net sales, primarily of our gamma detection systems, increased $593,000, or 23%, to $3.2 million during the first six months of 2005 from $2.6 million during the same period in 2004. Gross margins on net sales increased to 62% of net sales for the first six months of 2005 compared to 59% of net sales for the same period in 2004. The increase in net sales was the combined result of a modest strengthening in gamma detection device sales prices in the U.S. and Europe partially influenced by the strong Euro exchange rate and increased extended service contract sales activity experienced by our primary gamma detection device marketing partner. Gross margin percentages remained steady but were influenced by the increase in sales prices, coupled with increased extended service contract sales which typically generate higher margins than sales of our devices, and partially offset by slightly increased unit costs to manufacture our neo2000 control unit.

License and Other Revenue. License and other revenue in the first six months of 2004 included $400,000 from the pro-rata recognition of license fees related to the distribution agreement with EES. These license fees were fully amortized into income as of the end of the third quarter of 2004, so there were no such revenues recorded in the first six months of 2005.

Research and Development Expenses. Research and development expenses increased $764,000 or 65% to $1.9 million during the first six months of 2005 from $1.2 million during the same period in 2004. The increase was primarily due to efforts to move forward with development activities related to Lymphoseek, the

ACT technology platform of our CIRA Bio subsidiary, and increased headcount in the U.S., offset by decreased expenses related to our gamma detection devices, RIGS development, and Quantix. The first six months of 2004 included final development activities related to an updated version of our neo2000 system and product development activities related to the Quantix/OR. Research and development expenses in the first six months of 2005 included approximately $122,000 in gamma detection device development costs, $740,000 in product design activities for the Quantix/OR system and $1.1 million in drug and therapy product development costs. This compares to expenses of $281,000, $669,000 and $228,000 in these relative segment categories during the same period in 2004.

Selling, General and Administrative Expenses. Selling, general and administrative expenses remained steady at $1.7 million during the first six months of 2005 and 2004. Increases in certain overhead costs such as investor relations, professional services and depreciation coupled with increased headcount in the U.S. were offset by decreased marketing expenses.

Other Income (Expenses). Other expenses increased $604,000 to $703,000 during the first six months of 2005 from $99,000 during the same period in 2004. The primary reason for the increase was an increase of $546,000 in interest expense on debt financings we entered into during 2004 and 2003. Of this interest expense, $330,000 and $97,000 in the first six months of 2005 and 2004, respectively, was non-cash in nature related to the amortization of debt issuance costs and discounts resulting from the warrants and beneficial conversion features of the convertible debt. These increases were offset by an increase of $104,000 in interest income resulting from maintaining a higher balance of cash and investments during the second quarter of 2005 compared to the same period in 2004. In addition, the first six months of 2005 included a $142,000 non-cash increase in warrant liability resulting from the accounting treatment for the warrants we issued in connection with the private placement of convertible debt we completed in December 2004.

Liquidity and Capital Resources

Operating Activities. Cash used in operations increased $653,000 to $865,000 used during the first six months of 2005 compared to $213,000 used during the same period in 2004. Working capital decreased $1.6 million to $8.8 million at June 30, 2005 compared to $10.4 million at December 31, 2004. The current ratio decreased to 8.0:1 at June 30, 2005 from 11.3:1 at December 31, 2004. The decrease in working capital was primarily related to cash used in operations. Cash and investment balances decreased to $8.8 million at June 30, 2005 from $9.8 million at December 31, 2004, primarily as a result of cash used to fund operating activities and service our debt during the first six months of 2005.

Accounts receivable decreased to $371,000 at June 30, 2005 from $412,000 at December 31, 2004. The decrease was primarily a result of timing of purchases and payments to EES. We expect overall receivable levels will continue to fluctuate during 2005 depending on the timing of purchases and payments by EES as well as the effects of sales of blood flow products.

Inventory levels decreased to $757,000 at June 30, 2005 compared to $855,000 at December 31, 2004. We expect inventory levels to increase over the course of 2005 as we prepare to ramp up our blood flow business and reassess our safety stock levels.

Investing Activities. Cash used in investing activities increased to $4.3 million during the first six months of 2005 from $55,000 during the same period in 2004. We purchased $4.7 million and received $500,000 at maturity of available-for-sale securities during the first six months of 2005. Capital expenditures during the first six months of 2005 were split between purchases of office equipment and production tools and equipment. Capital expenditures in the first six months of 2004 were primarily related to purchases of technology infrastructure. Capital needs for 2005 are still expected to be minor but should increase somewhat over 2004 as we start up blood flow measurement device production at our contract manufacturer.

Financing Activities. Financing activities used $113,000 in cash in the first six months of 2005 versus $2.1 million provided during the same period in 2004.

Proceeds from the issuance of common stock were $58,000 and $2.3 million during the first six months of 2005 and 2004, respectively. Payments of notes payable were $155,000 and $159,000 during the first six months of 2005 and 2004, respectively.

In November 2003, we executed common stock purchase agreements with certain investors for the purchase of 12,173,914 shares of our common stock at a price of $0.23 per share for net proceeds of $2.4 million. In addition, we issued the purchasers warrants to purchase 6,086,959 shares of our common stock at an exercise price of $0.28 per share, expiring in October 2008, and issued the placement agents warrants to purchase 1,354,348 shares of our common stock on similar terms. The per share value of these warrants was $0.31 on the date of issuance using the Black-Scholes option pricing model with the following assumptions: an average risk-free interest rate of 3.2%, volatility of 151% and no expected dividend rate. During 2004, certain investors and placement agents exercised a total of 3,230,066 warrants related to this placement resulting in the issuance of 3,197,854 shares of our common stock and we realized net proceeds of $871,398. During the first six months of 2005, certain investors and placement agents exercised a total of 206,865 warrants and we realized proceeds of $57,922.

In December 2004, we completed a private placement of Convertible Promissory Notes in an aggregate principal amount of $8.1 million with Biomedical Value Fund, L.P., Biomedical Offshore Value Fund, Ltd. and David C. Bupp (our President and CEO). Biomedical Value Fund, L.P. and Biomedical Offshore Value Fund, Ltd. are funds managed by Great Point Partners, LLC. The notes bear interest at 8% per annum and are freely convertible into shares of our common stock at a price of $0.40 per share. Neoprobe may force conversion of the notes prior to their stated maturity under certain circumstances. The conversion price represents the ten-day volume weighted average trading price of our common stock through December 10, 2004. As part of this transaction, we issued the investors 10,125,000 Series T warrants to purchase our common stock at an exercise price of $0.46, expiring in December 2009. The fair value of the warrants issued to the investors was $1,315,000 on the date of issuance and was determined by a third-party valuation firm using the Black-Scholes option pricing model with the following assumptions: an average risk-free interest rate of 3.4%, volatility of 50% and no expected dividend rate. In connection with this financing, we also issued 1,600,000 Series U warrants to purchase our common stock to the placement agents, containing substantially identical terms to the warrants issued to the investors. The fair value of the warrants issued to the placement agents was $208,014 using the Black-Scholes option pricing model with the same assumptions used to determine the fair value of the warrants issued to the investors. The value of the beneficial conversion feature of the notes was estimated at $1,315,000 based on the effective conversion price at the date of issuance.

Our future liquidity and capital requirements will depend on a number of factors, including our ability to raise additional capital in a timely manner through additional investment, expanded market acceptance of our current products, our ability to complete the commercialization of new products, our ability to monetize our investment in non-core technologies, our ability to obtain milestone or development funds from potential development and distribution partners, regulatory actions by FDA and other international regulatory bodies, and intellectual property protection. We believe we now have adequate capital to assure that we can properly support our current business goals and objectives for 2005 and into 2006. Our near-term priorities to commence multi-center trials for our Lymphoseek product, support the launch of the reengineered version of the Quantix/OR products, identify a development and commercialization partner for our RIGS technology, complete a technology assessment of our ACT technology and continue to innovate our gamma detection product line. We cannot assure you that we will be able to achieve significant product revenues from our current or potential new products. We also cannot assure you that we will achieve profitability again.

Recent Accounting Developments

In November 2004, the Financial Accounting Standards Board (FASB) issued SFAS No. 151, Inventory Costs, an amendment of ARB No. 43, Chapter 4. This statement amends the guidance in ARB No. 43 Chapter 4, Inventory Pricing, to clarify the accounting for abnormal amounts of idle facility expense, freight, handling costs, and wasted material (spoilage). Paragraph 5 of ARB No. 43, Chapter 4,

previously stated that " . . . under some circumstances, items such as idle facility expense, excessive spoilage, double freight, and rehandling costs may be so abnormal to require treatment as a current period charge...." This statement requires that those items be recognized as current-period charges regardless of whether they meet the criterion of "so abnormal." In addition, this statement requires that allocation of fixed production overheads to the costs of conversion be based on the normal capacity of the production facilities. The provisions of this statement will be effective for inventory costs during fiscal years beginning after June 15, 2005. Neoprobe does not believe that the adoption of this statement will have a material impact on our consolidated financial condition or results of operations.

In December 2004, the FASB issued SFAS No. 123R (revised 2004), Share-Based Payment, which is a revision of SFAS No. 123, Accounting for Stock-Based Compensation (SFAS No. 123R). SFAS No. 123R supersedes APB Opinion No. 25, Accounting for Stock Issued to Employees, and amends SFAS No. 95, Statement of Cash Flows. Generally, the approach in SFAS No. 123R is similar to the approach described in SFAS No. 123. However, SFAS No. 123R requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Pro forma disclosure is no longer an alternative. SFAS No. 123R provides for a prospective application. Under this method, we will begin recognizing compensation expense for equity-based compensation for all new or modified grants after the date of adoption. In addition, we will recognize the unvested portion of the grant date fair value of awards issued prior to adoption based on the fair values previously calculated for disclosure purposes. We expect to adopt SFAS No. 123R on January 1, 2006.

As permitted by SFAS No. 123, Neoprobe currently accounts for share-based payments to employees using APB Opinion No. 25`s intrinsic value method and, as such, generally recognizes no compensation cost for employee stock options. Accordingly, the adoption of SFAS No. 123R`s fair value method will have a significant impact on our result of operations, although it will have no impact on our overall cash position. The impact of adoption of SFAS No. 123R cannot be predicted at this time because it will depend on levels of share-based payments granted in the future and the assumptions for the variables which impact the computation. However, had we adopted SFAS No. 123R in prior periods, the impact of that standard would have approximated the impact of SFAS No. 123 as described in the disclosure of pro forma net loss and loss per share in Note 2 to our consolidated financial statements. SFAS No. 123R also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow, rather than as an operating cash flow as required under current literature.

In December 2004, the FASB issued SFAS No. 153, Exchanges of Nonmonetary Assets--An Amendment of APB Opinion No. 29, Accounting for Nonmonetary Transactions (SFAS No. 153). SFAS No. 153 eliminates the exception from fair value measurement for nonmonetary exchanges of similar productive assets in paragraph 21(b) of APB Opinion No. 29, Accounting for Nonmonetary Transactions, and replaces it with an exception for exchanges that do not have commercial substance. SFAS No. 153 specifies that a nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. SFAS No. 153 is effective for fiscal periods beginning after June 15, 2005 and is required to be adopted by Neoprobe beginning January 1, 2006. Neoprobe is currently evaluating the effect that the adoption of SFAS No. 153 will have on its consolidated results of operations and financial condition but does not expect it to have a material impact.

Critical Accounting Policies

The following accounting policies are considered by us to be critical to our results of operations and financial condition.

[i2fan]

ich habe noch 1500 Aktien zu 0,50 Euro. also gut 60 % Verlust. Restwert ungefähr 300 euro. Da lohnt sich natürlich kein Verkauf. Vielleicht kommen die ja irgendwann mal.

[Scar]

Heute ist es ja schon mal ein Anfang

[Scar]

und langsam kommt der wERT richtig in Fahrt :-)

[larsuwe]

Warum hört man nichts neues von (NEOPROBE!)

[Scar]

frag ich mich auch

[Scar]

Irgendwie komplett eingeschlafen.Nur wenn ich jetzt raus gehe, steigt der Titel sicher.

[larsuwe]

Es muß bald mal etwas an Neuigkeiten geben,sonst sehen wir bald Kurse um die 0,15Euro. Langfristig wird die Aktie die Wende schaffen.Das Unternehmen hat Potenzialfür 2006! wir brauchen Geduld!. Ciao Lars

[Scar]

Bid 0,25 €. Endlich tut sich mal was