FMTI Forbes Medi-Tech Inc. featured news, full reports, and detailed charts
Forbes Medi-Tech Inc. (FMTI) Wrap Up:
We are a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of cardiovascular disease. Our vision is to develop and market products along a treatment continuum that consumers, healthcare professionals and specialized cardiovascular disease research and healthcare institutions will identify, recommend and seek. Our business strategy is to develop and commercialize proprietary compounds to address the unmet needs of patients within the cardiovascular disease market. Cardiovascular Disease The cardiovascular disease market continues to be one of the largest, with increasing prevalence in the developed and developing worlds. Patients are now living longer with the disease, which hosts a plethora of risk factors and interdependent manifestations. As a result, long-term management, and complexity and diversity in approach, are required. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2006%2f04%2f04%2f0001176256-06-000176.html#FIS_BUSINESS"www.forbesmedi.com
Founded in 1985
Forbes Medi Tech Inc (FMTI*(D):NASDAQ)
LAST $0.31 USD
CHANGE TODAY -0.03 -8.82%
VOLUME 2.4K
*(D) = Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements
As of 3:31 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Forbes Medi Tech Inc (FMTI)
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OPEN
$0.35
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PREVIOUS CLOSE
$0.34
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DAY HIGH
$0.35
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DAY LOW
$0.31
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52 WEEK HIGH
10/20/09 - $0.87
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52 WEEK LOW
03/10/09 - $0.07
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MARKET CAP
1.5M
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AVERAGE VOLUME 3 mo
9.3K
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
5.0M
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FMTI Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
FMTI Top Compensated Officers
Mr. Charles Butt B.Comm
Chief Executive Officer, President and Direct...
Age: 58
Total Annual Compensation: C$378.8K
Mr. David Goold CA
Chief Financial Officer and Principal Account...
Age: 54
Total Annual Compensation: C$187.8K
Ms. Laura Wessman B.A.Sc, B.Sc, MBA
Senior Vice President of Operations
Age: 43
Total Annual Compensation: C$202.9K
Dr. David Stewart Ph.D.
Vice President of Regulatory Affairs (Nutrace...
Age: 68
Total Annual Compensation: C$137.8K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Forbes Medi Tech Inc (FMTI)
Forbes Medi-Tech Cholesterol Lowering Ingredient Reducol(TM) Receives New Health Claim in the European Union
10/26/2009
Forbes Medi-Tech Inc. announced that the European Union has approved a health claim for plant sterols in free or esterified form. This recent Commission Regulation will enable products that incorporate Forbes patented cholesterol lowering ingredient, Reducol(TM), to make a label claim that states, 'Plant sterols have been shown to lower/reduce cholesterol. The EU Commission Decision, 2004/845/EC which authorized the use of Reducol(TM) in Novel Foods in the EU was included in the EFSA Opinion Q-2008-085, which recommended approval of the claim.
Forbes Medi Tech Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2009
08/13/2009
Forbes Medi Tech Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported income from continuing operations of CAD 82,853, net income from continuing operations before taxes of CAD 113,609 and net income from continuing operations and net income and comprehensive income of CAD 113,029 or CAD 0.02 per basic and diluted share on revenue of CAD 1,161,081 against loss from continuing operations of CAD 2,387,393, net loss from continuing operations before taxes of CAD 2,343,354 and net loss from continuing operations of CAD 2,346,696 or CAD 0.49 per basic and diluted share and net loss and comprehensive loss of CAD 3,029,610 or CAD 0.63 per basic and diluted share on revenue of CAD 523,798 for the same period a year ago. Net cash used in operations was CAD 780,493 against CAD 3,314,792 for the same period a year ago. For the six months, the company reported loss from continuing operations of CAD 1,113,774, net income from continuing operations before taxes of CAD 3,105,413 and net income from continuing operations and net income and comprehensive income of CAD 3,102,509 or CAD 0.62 per basic and diluted share on revenue of CAD 1,383,074 against loss from continuing operations of CAD 3,527,436, net loss from continuing operations before taxes of CAD 3,432,942 and net loss from continuing operations of CAD 3,443,646 or CAD 0.72 per basic and diluted share and net loss and comprehensive loss of CAD 4,686,053 or CAD 0.98 per basic and diluted share on revenue of CAD 976,806 for the same period a year ago. Net cash used in operations was CAD 973,912 against CAD 5,343,904 for the same period a year ago.
Forbes Medi To Be Delisted From TSX
08/12/2009
Forbes Medi Tech Inc. announced on August 12, 2009 that it has received notice from the Toronto Stock Exchange (TSX) that its common shares will be delisted at close of market on September 11, 2009. The delisting decision announced by the TSX relates to Forbes' market capitalization, which has fallen below the designated minimum TSX threshold for continued listing. The Company's shares continue to be listed on the NASDAQ Capital Market.
FMTI Competitors
| Company | Last | Change |
| Bayer | €51.71 EUR | +0.21 |
| Mead Johnson Nutrition Co | $44.31 USD | +0.56 |
| Novo Nordisk | kr331.00 DKK | +1.50 |
| Raisio Plc | €2.44 EUR | -0.01 |
| Unilever | €20.72 EUR | +0.055 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | FMTI | Industry Range |
| Price/Earnings | -- | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | -- | Not Meaningful |
| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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FMTI transactions
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| No transactions in the last 6 months. | ||
More Recent News About Forbes Medi-Tech Inc.
More news for FMTI
Forbes Medi-Tech Announces Financial Results for First Quarter Ended March 31, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2009) - Forbes Medi-Tech Inc. (TSX:FMI - News; NASDAQ:FMTI - News; "Forbes" or "Company") today announced its results for the first quarter ended March 31, 2009. The comparative period for these results is the three-month period ended March 31, 2008. All amounts are in Canadian Dollars unless otherwise noted. FIRST QUARTER OVERVIEW:- Reducol(TM) named in Prevention® Magazine: In February 2009, the Company announced that its cholesterol-lowering Reducol(TM) ingredient has been named one of the "5 All-Star Supplements" in the February 2009 issue of Prevention® magazine. The article focuses on natural remedies, including Reducol(TM), which have "ironclad scientific proof on their side".Update on Plan of Reorganization: In March, 2009, the convertible debenture of a former subsidiary, then renamed "Deans Knight Income Corporation" (Deans Knight), was converted to shares in connection with the public offering of securities of Deans Knight. In April 2009, Forbes announced that it had divested its remaining interest in Deans Knight for proceeds of approximately $789,000.- Exchange Listings: In January 2009, Forbes announced...Click here to read the whole Article (external link)
Forbes Medi-Tech Announces Pharmavite Contract Renewal
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - Forbes Medi-Tech Inc. (TSX:FMI - News; NASDAQ:FMTI - News) today announced it has extended its supply and licensing contract with Pharmavite LLC until mid 2010 for the continued sale of Reducol(TM), the branded cholesterol lowering ingredient in one of Pharmavite's leading line of dietary supplements, Nature Made® CholestOff(TM) and CholestOff(TM) Complete(TM). The license is exclusive to Pharmavite LLC for distribution and sales in Food, Drug and Mass Merchandiser outlets. "Since the initial product launch in 2001, the Nature Made® CholestOff(TM) product line has grown significantly, establishing a strong position in the U.S. 'heart health' dietary supplement market," said Laura Wessman, Senior Vice President, Operations at Forbes."We are pleased to maintain this relationship and anticipate that Pharmavite will continue to build awareness and sales of CholestOff(TM) products," added Ms. Wessman.CholestOff(TM) and CholestOff(TM) Complete(TM) are available in 60-count and 120-count caplet bottles. For more information on CholestOff(TM) products, visit ...Click here to read the whole Article (external link)
Forbes Medi-Tech Announces Pharmavite Contract Renewal
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Forbes Medi-Tech Provides Update on Stock Exchange Listings
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 07/15/09) - Forbes Medi-Tech Inc. (TSX:FMI - News)(NASDAQ:FMTI - News) ("Forbes" or "Company") announced that the Company received a letter from The Nasdaq Stock Market ("NASDAQ") stating that NASDAQ has again decided to extend its suspension of its bid price minimum listing requirement. As a result of this additional extension, the Company's compliance deadline is now January 4, 2010. Forbes can regain compliance with the suspended rule, to be reinstated on August 3, 2009, by achieving a US$1 closing bid price for a minimum of 10 consecutive trading days by January 4, 2010, failing which, its common shares will be delisted in accordance with NASDAQ procedures.The Company also continues to be under a delisting review by the Toronto Stock Exchange (the "TSX"), as originally announced on January 14, 2009. Pursuant to the TSX's Remedial Review Process, Forbes has until August 12, 2009 to regain compliance with the TSX's minimum $3,000,000 market capitalization threshold, failing which, its common shares will be delisted in accordance with TSX procedures.The Company continues to monitor its market capitalization, however, based on recent share trading prices and vo...Click here to read the whole Article (external link)
Forbes Medi-Tech Provides Update on TSX Listing
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 08/12/09) - Forbes Medi-Tech Inc. (TSX:FMI - News)(NASDAQ:FMTI - News) ("Forbes" or "Company") announced today that it has received notice from the Toronto Stock Exchange ("TSX") that its common shares will be delisted at close of market on September 11, 2009. The delisting decision announced by the TSX relates to Forbes' market capitalization, which has fallen below the designated minimum TSX threshold for continued listing. The Company's shares continue to be listed on the NASDAQ Capital Market, trading under the symbol FMTI.About Forbes Medi-TechForbes Medi-Tech Inc. (TSX:FMI - News)(NASDAQ:FMTI - ...Click here to read the whole Article (external link)
Forbes Medi-Tech Announces Financial Results for Second Quarter Ended June 30, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 08/13/09) - Forbes Medi-Tech Inc. (TSX:FMI - News)(NASDAQ:FMTI - News) ("Forbes" or "Company") today announced its results for the second quarter ended June 30, 2009. The comparative period for these statements is the three- and six-month periods ended June 30, 2008. All amounts are in Canadian Dollars unless otherwise noted. SECOND QUARTER OVERVIEW:Reducol(TM): In June 2009, the Company announced that it had extended its supply and licensing contract with Pharmavite LLC until mid 2010 for the continued sale of Reducol(TM).Exchange Listings: In January 2009, Forbes announced that it had received notice from the Toronto Stock Exchange ("TSX"), indicating that the TSX was reviewing the eligibility of its common shares for continued listing on the TSX, relating to Forbes' market capitalization, which had fallen below the designated minimum TSX threshold for continued listing.On August 12, 2009, Forbes announced that it has received notice from the TSX that its common shares will be delisted at the close of market on September 11, 2009. The delisting decision announced by the TSX relates to Forbes' market capitalization, which has remained below the TSX mini...Click here to read the whole Article (external link)
Forbes Medi-Tech Cholesterol Lowering Ingredient Reducol(TM) Receives New Health Claim in the European Union
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 10/26/09) - Forbes Medi-Tech Inc. (NASDAQ:FMTI - News) ("Forbes" or "Company") today announced that the European Union ("EU") has approved a health claim for plant sterols in free or esterified form. This recent Commission Regulation will enable products that incorporate Forbes patented cholesterol lowering ingredient, Reducol(TM), to make a label claim that states, "Plant sterols have been shown to lower/reduce cholesterol. High cholesterol is a risk factor in the development of coronary artery disease."The EU Commission Decision, 2004/845/EC which authorized the use of Reducol(TM) in Novel Foods in the EU was included in the EFSA Opinion Q-2008-085, which recommended approval of the claim."The approval extends Forbes current cholesterol reduction claim and further validates the inclusion of Reducol(TM) in various food products," said Dr. David Stewart, VP Regulatory & Scientific Affairs at Forbes.Reducol(TM) is sold in various food products in the EU including margarine, yoghurts, yoghurt drinks, milk, and cheese.About Forbes Medi-TechForbes Medi-Tech Inc. (NASDAQ:FMTI - News) is a life sciences company focused on evidence-based nutritional s...Click here to read the whole Article (external link)
Forbes Medi-Tech Announces Financial Results for Third Quarter Ended September 30, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 11/09/09) - Forbes Medi-Tech Inc. (NASDAQ:FMTI - News) ("Forbes" or "Company") today announced its results for the third quarter ended September 30, 2009. The comparative period for these statements is the three and nine-month periods ended September 30, 2008. All amounts are in Canadian Dollars unless otherwise noted. THIRD QUARTER OVERVIEW:Reducol(TM): In October 2009 the Company announced that the European Union had approved a health claim for plant sterols -- Reducol(TM) -- in free or esterified form.Exchange Listings: In January 2009, Forbes announced that it had received notice from the Toronto Stock Exchange ("TSX"), indicating that the TSX was reviewing the eligibility of its common shares for continued listing on the TSX, relating to Forbes' market capitalization, which had fallen below the designated minimum TSX threshold for continued listing.On August 12, 2009, Forbes announced that it had received notice from the TSX that its common shares will be delisted at the close of market on September 11, 2009. The delisting decision announced by the TSX related to the Company's market capitalization, which had remained below the TSX designated minimum, $3,000,000 market capitalization threshold for continued listing. On September 11, 2009, as the Company had not regained compliance with the TSX listing requirements, the Company's shares were delisted from trading on the TSX.Since the beginning of the year, NASDAQ has three times extended its suspension of its bid...Click here to read the whole Article (external link)
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