New York (PRWEB) March 19, 2012
Recon Technology, Ltd. is a non-state-owned oil field service company in China. The company has been providing software, equipments and services designed to increase the efficiency and automation in oil and gas exploration, extraction, production and refinery for Chinese oil and gas fields for more than 10 years.
Recon Technology is up more than 200% today upon positive news. Recon Technology announced today that one of its variable interest entities, Beijing BHD Petroleum Technology Co., Ltd. ("BHD"), introduced the Baker Hughes Frac-PointTM System to China Petroleum and Chemical Corporation's ("Sinopec") Zhongyuan oilfield.
The system helped Sinopec complete the fracturing of a dense sandstone horizontal well that required multistate fracturing. This cooperation positions BHD very well in meeting Sinopec's further fracturing needs. As of March 19, 2012, BHD has signed several contracts with an accumulated contract value of RMB 30 million (approximately $4.75 million). These contracts will be performed in different stages and are expected to be completed during the first half of 2012.
Ampio Pharmaceuticals, a biopharmaceutical company conducting clinical trials on its three lead drugs (Zertane™ completed two phase III studies, Ampion™-completed proof of concept studies and Optina™), licensing distribution of these drugs and engaged in further drug development, today announced that it completed the planned interim review of the first 50% of patients enrolled in the Optina™ trial for diabetic macular edema.
Based on these positive and encouraging results and the potential of lack of efficacy at the higher doses, both doses being present in this study, Ampio decided to conclude this study ahead of schedule and to proceed with the preparation of a consultation package for the FDA that includes the basic science and clinical results for discussion of the design of a pivotal trial in the US under the 505(b)2 regulation for repurposed drugs.
Ampio Pharmaceuticals had traded as high as $4.58 today almost $2.00 above previous closing price of $2.68.
Today’s Penny Stock Pick is AISystems. Volume has exploded today and shares have been trading as much as 5 times the previous close price.
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