This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AspenBio Pharma Focuses Resources On Development Of AppyScore™ Clinical Diagnostic Test

Stocks in this article: APPY

CASTLE ROCK, Colo., Aug. 15, 2012 /PRNewswire/ -- AspenBio Pharma, Inc. (Nasdaq: APPY), an in vitro diagnostic company, today provides its investors and the broader investment and medical communities with an update on the Company's business and anticipated milestones.   The Company's senior management will host a conference call and live audio webcast today at 5:00 p.m. ET to discuss recent activities and upcoming plans for the clinical development and potential commercialization of AppyScore™.

Steve Lundy, President and CEO of AspenBio, commented, "We have turned a corner in our product development efforts and are now moving toward potential commercialization of our AppyScore product.   We successfully licensed our animal health assets in order to focus our full resources and attention on advancing AppyScore through its pivotal clinical study and FDA submission.   Most importantly, we have put a team in place with the optimal expertise in developing, seeking regulatory approval for and marketing in vitro diagnostic tests, which we believe will maximize our potential for success, both in terms of gaining marketing approval and global commercialization."

Recent Corporate Highlights

  • Presented positive clinical data from 503-patient study at the SAEM Annual Meeting
  • Completed conversion of AppyScore system to multi-biomarker test for pivotal study
  • Submitted pre-IDE information package to FDA, including the pivotal clinical trial protocol and statistical analysis plan
  • Appointed two diagnostics industry veterans: Donald Hurd as Senior Vice President and Chief Commercial Officer and Lyndal Hesterberg, Ph.D., to lead product development team for AppyScore
  • Engaged Tiberend Strategic Advisors, Inc. as investor and public relations agency of record

Recent Financial Highlights

  • Raised $12.2 million in public offering providing working capital and funding for clinical trial for AppyScore
  • Executed world-wide license agreement for animal health assets; worth up to $5 million plus royalties
  • Regained full compliance with the NASDAQ continued listing standards

Upcoming Planned AppyScore Milestones

  • 3Q 2012: Meet with FDA to discuss pre-IDE submission; including intended use, clinical strategy and regulatory pathway in advance of commencing pivotal trial for AppyScore
  • 4Q 2012: CE marking in EU and continue to advance market development toward commercialization in EU
  • 4Q 2012: Commence the pivotal clinical trial
  • 1H 2013: Complete pivotal study enrollment and data analysis; submit to FDA

Conference Call and Webcast InformationInterested participants and investors may access the conference call by dialing (800) 860-2442 (U.S./ Canada) or (412) 858-4600 (international).   An audio webcast will be accessible via the Investors Relations section of the AspenBio web site,   

A telephonic replay of the call will be available for two weeks beginning at 8:00 p.m. ET on August 15, 2012.   Access numbers for this replay are (877) 344-7529 (U.S./ Canada) and (412) 317-0088 (international); conference ID: 10017298.   The webcast replay will remain available in the Investors Relations section of the AspenBio web site for 30 days.

About AspenBio Pharma AspenBio Pharma, Inc. is an in vitro diagnostic company focused on the clinical development and commercialization of its lead product, AppyScore.   AppyScore is a unique blood-based test with projected high sensitivity and negative predictive value that is designed to aid in the identification of patients at low risk for acute appendicitis, allowing for more conservative patient management.   AppyScore is initially being developed for pediatric, adolescent and young adult patients with abdominal pain as this population is at the highest risk for appendicitis as well having the highest risk of the long-term health effects associated with CT imaging.   For more information, visit .

Forward-Looking Statements This press release includes "forward-looking statements" of AspenBio Pharma, Inc. ("AspenBio") as defined by the Securities and Exchange Commission ("SEC"). All statements, other than statements of historical fact, included in this press release that address activities, events or developments that AspenBio believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors AspenBio believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of AspenBio. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including our ability to successfully complete required product development and modifications in a timely and cost effective manner, complete clinical trial activities for AppyScore required for FDA submission, obtain FDA clearance or approval, complete and obtain CE Mark, cost effectively manufacture and generate revenues from AppyScore, execute agreements required to successfully advance the company's objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, AspenBio does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in AspenBio's recent filings with the SEC, including its Final Prospectus filed on June 20, 2012 .

For Investors & Media: Joshua Drumm, Ph.D. / Jason Rando Tiberend Strategic Advisors, Inc. (212) 827-0020

SOURCE AspenBio Pharma, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs