| Business Summary | | Ergo
Science
Corporation,
since
1990,
has
been
engaged
in
developing
Ergoset
tablets
for
the
treatment
of
type-II
diabetes
and
other
metabolic
disorders.
Ergoset
tablets
are
a
low-dose,
fast-release,
oral
formulation
of
bromocriptine
mesylate,
a
dopamine
agonist
used
to
treat
Parkinson's
disease,
acromegaly
and
hyperprolactinemic
conditions.
The
Company
has
not
received
approval
from
the
United
States
Food
and
Drug
Administration
(FDA)
to
market
Ergoset.
Although
Ergoset
is
considered
"approvable"
by
the
FDA,
the
FDA
has
required,
prior
to
granting
approval,
an
additional
clinical
trial
to
rule
out
a
possible
increased
risk
of
a
serious
adverse
event
with
its
use.
The
Company
has
consequently
begun
the
process
of
attempting
to
sell
or
license
its
interests
in
Ergoset
(including
its
intellectual
property
rights),
as
well
as
its
other
human
drug-related
assets. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Ergo
Science
Corporation
engages
in
the
development
of
novel
treatments
for
metabolic
disorders,
including
Type
II
diabetes
and
obesity,
and
for
cancer.
For
the
three
months
ended
3/31/01,
revenues
remained
flat
at
$0.
Net
loss
applicable
to
Common
totaled
$259
thousand,
up
from
$83
thousand.
Results
reflect
the
absence
of
product
related
and
licensing
and
supplier
revenues.
Net
loss
reflects
legal
costs
incurred
by
the
Company
in
evaluating
strategic
alternatives. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
after
tax
earnings
were
-393. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Thomas McWilliams, 57 Chairman | -- | David Burt, 36 Pres,
CEO, Sec. | $238K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|